Lydian intersects 111 meters at 1.1 g/t gold, outside current pit-shell at Arshak and 89 meters at 1 g/t gold below current pit shell at Erato Amulsar
Tuesday, Jan 15, 2013
Lydian International Ltd. (TSX:LYD) ("Lydian" or "the Company"), a gold-focused mineral exploration and development company, today announced the final drill results from its 2012 drilling program at its 100% owned Amulsar gold project in Armenia. Amulsar is a feasibility stage (see press release September 7, 2012) high-sulfidation style, heap-leach gold project with reported CIM compliant Proven and Probable reserves of 2.29M Oz Gold at 0.8 g/t and 9.98M Oz Silver at 3.3 g/t and a resource of 0.2M Oz Gold at 1.0 g/t in Measured and Indicated categories and 1.1M Oz Gold at 0.9 g/t in the Inferred category.
Results have been received from the last 30 drill holes at Amulsar including infill drilling at Tigranes and Artavasdes, further step-out drilling at Arshak and deep exploration drill holes at Erato (see Table and Figures in Appendix).
Drilling at Arshak continues to extend gold mineralization along the Amulsar ridge top towards the southeast (see Table and Figure in Appendix). Results include RCA-484 which returned 111 meters at 1.1 g/t gold including 36 meters at 2.7 g/t gold from outside the current pit-shell. RCA-486 and RCA-493 returned 35 meters at 1.8 g/t gold and 30 meters at 1.0 g/t gold respectively, approximately 100 meters southeast of the current pit-shell. Meanwhile DDA-365 drilled in-between Tigranes and Artavasdes returned 21 meters at 1.6 g/t.
At Erato deep drill hole DDA-370 returned numerous intervals of gold mineralization up to 250 meters below and to the east of the current pit-shell, including 38 meters at 1.0 g/t gold from 342 meters depth (see Table and Section in Appendix). This is the deepest hole so far drilled at Erato and shows significantly large zones of oxide gold mineralization to the end of hole at a total down-hole depth of 404.5 meters. This drill hole also indicates significant potential for the discovery of further gold mineralization at depth between Tigranes and Erato which supports predictions of a possible link between the two current pits. DDA-367 also returned gold mineralization from below the current pit-shell limits (see Section in Appendix), including 89 meters at 1.0 g/t gold from 240 meters to 329 meters depth down hole which included 22 meters at 3.2 g/t gold from 301 meters down-hole depth.