Lydian International
Lydian International Ltd. is a diversified UK mineral exploration and development company, with expertise employing “first mover” strategies in international emerging environments.
Currently the Company is focused on Eastern Europe in the Western Balkans and the Caucasus regions, advancing a pipeline of highly prospective precious and base metal projects. In the Caucasus region Lydian is operating an exploration joint venture with Newmont Overseas Exploration Ltd. a subsidiary of Newmont Mining Corporation.
The Company's two flagship projects are a newly discovered gold project at Armulsar in Armenia, and an advanced zinc, lead, silver and gold project at Drazhnje in Kosovo.
Lydian's two largest share holders are Newmont Mining Corporation and the International Finance Corporation (part of the World Bank Group).
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."
Other Lydian International articles
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01/03/10 Lydian International takes full ownership of 1.4 million ounce Amulsar Gold Project
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11/11/09 Lydian International identifies new gold prospect and potential resource at Amulsar project in Armenia
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03/11/09 Lydian heap leach results suggest attractive economics for Amulsar Gold Project
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12/08/09 Lydian cuts wide zone of gold mineralisation 500 meters south of current resource
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17/03/09 Lydian International pushes back the frontiers
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06/01/09 Proactive Investors Talks to Tim Coughlin, President & CEO of Lydian International
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03/11/08 Lydian International's Amulsar Discovery delivers more excellent results
Other Lydian International news
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03/03/10 Fox-Davies Capital maintains 'buy' rating for Lydian Intl after Newmont buyout
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18/01/10 FD Capital ups target price for Minera IRL, Highland Gold, Hambledon Mining and Lydian Resources
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24/11/09 Lydian reports final gold results from successful 2009 Drilling Program at Amulsar in Armenia
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06/11/09 Lydian International raises C$2.2 mln, mainly from Macquarie Bank private placing
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14/10/09 Fox-Davies remains bullish on Lydian as Amulsar gold project ‘takes shape’
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22/09/09 Lydian announces promising NI 43-101 Inferred Resource at Drazhnje project, Kosovo
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09/09/09 Lydian says results from drilling at Amulsar indicate potential for additional resources
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07/05/09 Lydian gets 25 year mining license for Amulsar gold project in Armenia
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31/03/09 Lydian says heap leach study for Amulsar gold discovery, Armenia, suggests low costs
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18/03/09 Lydian to get further IFC investment of CDN$1.4 mln
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