Lydian International
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 International defines new gold zones in step-out drilling
Lydian International (TSX: LYD), released further encouraging results from the Amulsar Gold Project, this time from seven reverse circulation step-out drill holes completed immediately south of the central Tigranes area.
The Amulsar Gold Project was first discovered by Lydian in 2006, when the directors were passing through the region and stopped to investigate the local geology. Since that chance discovery, Lydian has completed 13,000 metres of drilling and results so far have been nothing short of highly encouraging.
The Amulsar project falls within a 50/50 joint venture with Newmont Mining (NYSE: NEM).
Highlights included 50 metres at 1 gram per tonne gold and 22.2 grams per tonne silver in drill hole RCA-055, and 58 metres at 1 gram per tonne gold, including a higher grade zone of 12 metres at 2.7 grams per tonne gold in RCA-052.
"The drill results from Artavasdes when coupled with those from Tigranes, open up further tonnage potential along a mineralised front of at-least 800m length towards the southeast along the Amulsar ridge," said Tim Coughlin, Lydian's President and CEO. "Gold intersections from drilling at the Erato prospect which is about 1.6km along the Amulsar ridge to the northwest of Tigranes, are also highly encouraging and imply the presence of another gold mineralised system at this locality."
Other Lydian International articles
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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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30/12/08 Lydian International Audio Interview
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26/11/08 Lydian International says latest drilling results at Amulsar gold discovery ‘very encouraging’