Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: TSX
Sector: Gold Mining
Epic: .LYD
News: Latest news
Web Site: Lydian International
Other Articles: 01-03-201018-01-201024-11-2009

RSS - Subscribe to the News Today on Proactive UK ▼

Friday March 12, 09:50Baobab Resources resumes drilling at Tete iron-vanadium-titanium project

Shares in the company were lifted by the news it started a 12,000 metres scout drilling campaign at its project in Mozambique, with constant updates expected in the next few months.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Friday March 12, 01:39Circadian Technologies to present at Ultimate Healthcare & Biotechnology Event, March 24

Robert Klupacs, CEO of Circadian Technologies, recommended by US Investment Bank Merriman Curhan Ford, as "the Cheapest Little Antibody Company on the Planet" will present in Sydney.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Friday March 12, 08:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

FULL ARTICLE ►
Lydian International

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).

CLICK HERE FOR FULL ANLAYSIS OF LYDIAN INTERNATIONAL
Tuesday, November 24, 2009

Lydian reports final gold results from successful 2009 Drilling Program at Amulsar in Armenia

company news image

Lydian International Ltd. (TSX: LYD) released the final batch of results from the 2009 step-out drilling program at the Amulsar gold discovery in Armenia. The Amulsar project is being explored through a joint venture with Newmont Mining Corp (NYSE: NEM). The latest drilling results highlighted a 96 meter intersection grading 1 gram per tonne of gold.

The Amulsar group of licenses is 95 percent owned by Lydian's wholly owned Armenian subsidiary Geoteam CJSC. The project is currently being explored as part of a gold and copper exploration joint venture with Newmont in the south Caucasus region.

Newmont has two options to increase its interest. The first is an option to earn a further 20 percent by funding the project through to feasibility; the second option allows Newmont to earn a further 10 percent by funding through to commercial production.

Results reported today cover the last 29 exploration holes to be drilled in the 2009 program. Lydian drilled twenty one reverse circulation holes and four diamond holes drilled in the Artavasdes and Arshak prospect areas to the south of the existing Tigranes resource area. Four reverse circulation holes were drilled to test continuity between the Tigranes and Erato prospect areas.

At the Artavasdes prospect, drilling results returned grades between 0.96 and 2.30 grams per tonne, the highlights of the results show intersections of 26m, 40m, 50m and 96m length all grading approximately 1 gram per tonne of gold.

Earlier this month, the previous phase of drilling results identified a new prospect and potential resource that Lydian said is more than worthy of further drill testing in 2010. The company drilled nine reverse circulation drill holes and one diamond drill hole in the Erato and Erato north prospect areas. Erato is located just 1.5 kilometres along the mineralized ridge top to the northwest of Lydian's current 1 million ounce inferred resource.

According to Lydian, the 2009 step-out program has been highly successful. The company has extended the current resource, identified new areas and further potential at Erato and Arshak. A resource update is currently being prepared and is expected to be complete in December of this year.

Lydian's President and CEO, Tim Coughlin commented on the 2009 Amulsar drilling program:
"This year's step-out drilling around the margin of the current 1Moz resource has identified extensions that remain open and untested in three directions; the northwest, northeast and southwest with approximately 25% of holes drilled to date ending in gold grade and thus remaining open at depth ... Furthermore, the drill program has identified new and exciting potential at Erato approximately 1.5km north of the resource envelope where we recently intersected 229m at 1.0g/t gold and southeast for 400m along the ridge from Artavasdes towards Arshak where we have intersected up to 100m at 1.4g/t gold."

The finalization of the drilling results for the Amulsar rounds off an eventful few months for Lydian. The emerging exploration company recently completed a preliminary NI-101 resource estimate at its Drzhnje project in Kosovo.

In September, Lydian announced the results of an NI 43-101 compliant inferred resource estimate for its 100 percent owned Drazhnje project in Kosovo, its second main project,showing 3.21 million tonnes grading 2.51 percent lead and 5.11 percent zinc. This resource estimate is preliminary and remains open immediately at depth in the Main Zone and with additional tonnage likely at depth and along strike in the Eastern Zone and at the St George and St Barbara adit areas. Further lead-zinc and oxide gold exploration potential is also evident at surface.

At the beginning of November, Lydian successfully conducted a number of small fundraisings. The group completed a private placement with Macquarie Bank Ltd of 3.33 million shares at C$0.60 each, raising C$2 million before expenses. It also placed a further 330,000 shares at the same price, raising approximately C$200,000 before expenses. Lydian said the money will be used for continued exploration of the company's mineral properties and for general working capital purposes.

AddThis Feed Button
Register here to be notified of future Lydian International articles.

Other Lydian International articles


Other Lydian International news

More news ►

Investors interested in Lydian International recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.