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Lydian says heap leach study for Amulsar gold discovery, Armenia, suggests low costs

Published: 20:56 31 Mar 2009 BST

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Mineral exploration and development company Lydian International Ltd said a preliminary scoping level design study of a heap leach facility for its Amulsar gold discovery in Armenia suggests low capital and treatment costs.

The study assumed a 1 million ounces resource and an ore grade of 1 gram per ton with recoveries of 94 percent, in keeping with the latest NI-43101 compliant resource estimate and results of metallurgical testing by SGS Lakefield.

The study estimates capital costs of US$45.9 million and US$1.55/ton process facility operating costs in the Run-of-Mine scenario and capital costs of US$102.4 milion and US$2.44/ton process facility operating costs in the Crush Screen scenario.

Tim Coughlin, Lydian's President and CEO commented: "We are pleased with the results of this preliminary analysis which suggest low capital and treatment costs at Amulsar. This is due primarily to ease of access and excellent infrastructure. The project is located adjacent to the main highway some 240km south of Armenia's capital Yerevan. This main artery provides ready access to high-tension power lines, natural gas and water.

“Further metallurgical testing will be conducted this year to better ascertain recoveries and to test potential for run of mine treatment,” he added.

Lydian International Ltd. chief excited about "beginning" of Amulsar project

Howard Stevenson, chief executive of Lydian International Ltd, is very excited about the potential of  the group's flagship Amulsar gold mine in Armenia, where engineering work has now started. The group has $123mln in the bank, which will see it through all activity this year, he...

on 15/8/16