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Market: TSX
Sector: Gold Mining
Epic: LYD
News: Latest news
Web Site: Lydian International
Other Articles: 17-08-201010-08-201004-08-2010

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Lydian International

Lydian International

Lydian International Ltd. is a mineral exploration and development company, with expertise employing “first mover” strategies in emerging environments. The probability of discovering large, world-class projects is higher in prospective, newly emergent and transitional environments. Lydian is positioned to leverage and manage emerging environment exploration opportunities. Currently the company is focused on Eastern Europe. Lydian has developed a diversified portfolio of highly prospective precious and base metal projects at the early and advanced exploration development stage. Lydian’s flagship projects include a gold project at Amulsar in Armenia, and a zinc-lead-silver-gold at Drazhnje in Kosovo. The Company is also focused on its pipeline of new gold and base metal projects.

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Thursday, May 07, 2009

Lydian gets 25 year mining license for Amulsar gold project in Armenia

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Lydian International Ltd (TSX: LYD) said it has been granted a 25-year Special Mining License by the government of Armenia covering its Amulsar gold project.

Activation of a mining project under the license requires completion of a concession agreement including a general workplan and financial outline, an environmental impact assessment, and a mining safety assessment by the mining technical regulatory body.

Chief executive officer Tim Coughlin said: "This is an historic day for Lydian and the culmination of an intensive three year exploration and development program. The mining license is one of the first licenses granted under Armenia's new mining law and it clearly exemplifies the government's commitment to support the mineral industry in Armenia".

The Amulsar gold project was discovered by Lydian three years ago and already has a CIM compliant resource at one million ounces in the inferred category which remains open in all directions. Management is confident that this year’s drilling programme will expand the current resource.

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