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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: 2.08  (-0.48% Descending)
52-week High: 3.09
52-week Low: 1.96
Market Cap: 256.81M
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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 International reveals further encouraging results from Amulsar gold project

29th Nov 2011, 10:27 am by Jon Mainwaring

Armenia-focused gold miner Lydian International (TSE:LYD) today reported further encouraging results from its Amulsar gold project in the country. Lydian said the results included a 99-metre intersection at four grams per tonne of gold.

Amulsar is a high sulphidation-style gold project that currently hosts an indicated resource of 1.1 million ounces at 1.1 grams per tonne of gold as well as an inferred resource of 1.4 million ounces at 0.9 grams per tonne.

Lydian said that the 99-metre four grams per tonne section was found after infill hole DDA-223 was drilled at the Tigranes part of the project. Step-out holes RCA-442, RCA-443 and RCA-454 were drilled along the north-western edge of the resource at Tigranes and intersected 30 metres at one gram per tonne, 52 metres at 0.9 grams per tonne and 21 metres at one gram per tonne respectively.

In all, results have been received from 22 combined diamond and reverse circulation drill holes at Amulsar, with 12 of these resulting in notable intersections.

“Drill hole DDA-223 has returned one of the most exciting intersections yet at Amulsar,” said Tim Coughlin, Lydian’s President and CEO.

"It appears to have drilled into a steep plunging intersection zone where northeast and northwest trending faults and fractures link and interact. In that sense it is quite similar to northwest Artavasdes where long intersections of higher grades and a significant proportion of resource ounces have also been intersected. We have now released 92.7 per cent of our 2011 drilling results, with geological modelling and work on the resource update currently underway and expected to be complete in early 2012."

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