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Lydian International Extends Known Mineralization At Amulsar Project

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  • Lydian International Extends Known Mineralization At Amulsar Project

    LYDIAN INTERNATIONAL EXTENDS KNOWN MINERALIZATION AT AMULSAR PROJECT IN ARMENIA

    Proactive Investors USA & Canada
    http://www.proactiveinvestors.com/companies/news/10443/lydian-international-extends-known-mineralization-at-amulsar-project-in-armenia-10443.html
    Nov 30 2010

    Lydian International (TSX:LYD) announced Tuesday further results from
    drilling at its Amulsar gold discovery in Armenia, identifying new
    gold at both the Tigranes and Artavasdes resource areas.

    Diamond drill hole DDA-076 intersected 89 metres at 1.9g/t gold,
    including 11 metres at 5.9g/t gold and 14 metres at 3.7g/t gold.

    This drill hole, Lydian said, is signficant as it extends the area
    of the known high grade mineralization on the western edge of the
    Tigranes resource.

    At Artavasdes, drill hole DDA-67 intersected 52 metres at 1.2g/t
    gold and 19 metres at 1.0g/t gold, while DDA-69, on the south east
    of Artavasdes, returned 46.5 m at 1.2g/t gold.

    DDA-69 is located just 100 metres south of RC hole RCA 301, which
    returned 40 metres at 5.6g/t gold, as previously announced by Lydian
    earlier this month.

    The company said these intersections may form part of a potential
    new higher grade "feeder zone" on the south east of Artavasdes.

    Moreover, additional rock chip channel sampling on Artavasdes has
    returned 18 metres at 1.2 g/t gold, which extends the area of known
    mineralization on Artavasdes to surface, expected to be included in the
    updated resource estimate planned for the first quarter of next year.

    "These results will be incorporated in the modeling and resource update
    work that is currently underway," said president and CEO Tim Coughlin.

    "There is a concentrated and concerted technical effort underway with
    the aim being to complete and release the resource update by the end
    of February next year."

    Amulsar is a high-sulfidation style gold project, which currently hosts
    a CIM compliant inferred category resource of 1.4 million ounces at
    0.9g/t gold.

    The Amulsar group of licenses is 95% owned by Lydian's wholly owned
    Armenian subsidiary. Lydian also has a pipeline of early-stage gold
    and base metal exploration projects in the Caucasus regions.




    From: A. Papazian
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