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22/11/2011

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

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Additional Information
Market: TSX
Sector: Gold Mining
EPIC: LYD
Latest Price: 2.59  (1.97% Ascending)
52-week High: 3.09
52-week Low: 1.96
Market Cap: 257.36M
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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 begins drilling program at Amulsar gold discovery in Armenia

23rd Jun 2009, 2:08 pm
Lydian begins drilling program at Amulsar gold discovery in Armenia
Lydian International Ltd (TSX: LYD) said it has begun its 2009 drilling program at the Amulsar gold discovery in Armenia aimed at delineating the extents and reveal the size potential of the gold mineralized system.

It has contracted International Drilling Services for 14,000 metres of combined diamond and reverse circulation drilling.

Drill holes will step out systematically from a centre corresponding to the current 1 million ounces resource and will follow extensions of known surface gold mineralization and corresponding subsurface geophysical anomalies over an area of at least 6 square kilometres.

Lydian was recently granted a 25 year mining license at Amulsar and has now merged existing exploration licenses such that the mining license is surrounded by 113 square kilometres of contiguous exploration licenses.

President and CEO Tim Coughlin said: "Last year's program was designed to define an initial resource and satisfy regulatory requirements leading to the granting of our mining license. Now, following regulatory approval and the successful amalgamation of surrounding exploration licenses, the aim for 2009 is clearly to step out and test the true size potential of this exciting new gold discovery."

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