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LYDIAN INTERNATIONAL RECEIVES "ENCOURAGING RESULTS" FROM ARMENIAN GOLD PROJECT
Jon Mainwaring
ProActive Investors
http://www.proactiveinvestors.co.uk/companies/news/30843/lydian-international-receives-encouraging-results-from-armenian-gold-project-30843.html
Jul 19 2011
UK
Armenia-focused gold explorer Lydian International (TSX:LYD) has said
it has received "encouraging" results from drilling at its Amulsar
gold project.
The project - which covers a region of high-sulphidation,
epithermal-type gold mineralisation located in central Armenia - hosts
a Canadian Institute of Mining (CIM) - compliant combined indicated
and inferred category resource of 2.5 million ounces at 1.0 g/t gold.
Interim results have been received from 23 drill holes, comprising
primarily infill and resource extension drilling from the western
extent of the contiguous Tigranes and Artavasdes areas, and these
results are encouraging, according to the company.
They include a drill hole (DDA-096) that intersected 69 metres at 1
g/t of gold from surface, one (RCA-308) that intersected 55 metres
at 1.6 g/t and another (RCA-306) that intersected 55 metres at 1.1 g/t.
"These are encouraging results and contribute to our ongoing geological
modelling work at the Amulsar deposit aimed at both upgrading
the indicated and inferred category resources and identifying new
structural trends which may well carry further gold mineralisation,"
said Tim Coughlin, Lydian's President and chief executive officer.
"These results come ahead of our Preliminary Economic Assessment
which will be released by the end of July."
The Amulsar project was discovered in 2006 and remains open in all
directions. Lydian is currently advancing Amulsar towards Bankable
Feasibility with full production planned in the first half of 2014.
Jon Mainwaring
ProActive Investors
http://www.proactiveinvestors.co.uk/companies/news/30843/lydian-international-receives-encouraging-results-from-armenian-gold-project-30843.html
Jul 19 2011
UK
Armenia-focused gold explorer Lydian International (TSX:LYD) has said
it has received "encouraging" results from drilling at its Amulsar
gold project.
The project - which covers a region of high-sulphidation,
epithermal-type gold mineralisation located in central Armenia - hosts
a Canadian Institute of Mining (CIM) - compliant combined indicated
and inferred category resource of 2.5 million ounces at 1.0 g/t gold.
Interim results have been received from 23 drill holes, comprising
primarily infill and resource extension drilling from the western
extent of the contiguous Tigranes and Artavasdes areas, and these
results are encouraging, according to the company.
They include a drill hole (DDA-096) that intersected 69 metres at 1
g/t of gold from surface, one (RCA-308) that intersected 55 metres
at 1.6 g/t and another (RCA-306) that intersected 55 metres at 1.1 g/t.
"These are encouraging results and contribute to our ongoing geological
modelling work at the Amulsar deposit aimed at both upgrading
the indicated and inferred category resources and identifying new
structural trends which may well carry further gold mineralisation,"
said Tim Coughlin, Lydian's President and chief executive officer.
"These results come ahead of our Preliminary Economic Assessment
which will be released by the end of July."
The Amulsar project was discovered in 2006 and remains open in all
directions. Lydian is currently advancing Amulsar towards Bankable
Feasibility with full production planned in the first half of 2014.