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22/11/2011

Lydian International - Armenia : Amulsar on the path to production 2014

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Market: TSX
Sector: Gold Mining
EPIC: LYD
Latest Price: 2.60  (0.39% Ascending)
52-week High: 3.09
52-week Low: 1.96
Market Cap: 258.35M
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Lydian International
www.lydianinternational.co.uk

Lydian International is a mineral exploration and development company with expertise and a proven track record in discovering and developing new gold projects in unfamiliar and frontier settings. The Company is currently focussed on developing its Amulsar gold discovery in southern Armenia. The Amulsar project was a new discovery made by Lydian in 2006 and currently hosts a global resource of 3.2M ounces after its resource update in January 2012. This resource update comprises a total of 1.7 million ounces gold in the indicated category and 0.6 million ounces gold in inferred category (using a 0.4g/t cut-off) from the contiguous Tigranes and Artavasdes areas and 0.5 million ounces gold in the indicated category and 0.4 million ounces inferred category from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes. The project remains open in all directions and is currently advancing towards Bankable Feasibility with full production due in the first half of 2014.

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

31st Mar 2009, 3:56 pm
Lydian says heap leach study for Amulsar gold discovery, Armenia, suggests low costs

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.

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