Best results include 107m @ 0.24% Ni and 74m @ 0.22% Ni, where complete drill holes were sampled
TORONTO, Canada, June 17, 2008 – Lydian International Ltd. (TSX:LYD), a diversified U.K. mineral exploration and development company, today announced significant nickel results from a 12-hole scout drilling programme at its Rahovec project in Kosovo. Most of the drill-holes were only partially sampled as the programme was aimed principally at testing newly recognised gold and copper mineralisation (identified from previous soil-sampling and trenching), and to a lesser extent the known occurrences of nickel mineralisation.
Significant nickel mineralisation has been identified from surface in all drill holes and to down-hole depths in excess of 100m (best results 107m@ 0.24% Ni and 74m@ 0.22% Ni) where complete drill holes were sampled (See Table 1 below and Figure 1 in Appendix). In partially sampled drill holes, the best intersection over the entire 10msampledinterval was 0.35% nickel. Gold and copper mineralisationappears to be limited
to a discrete, near surface zone of approximately 6m thickness (best results firstname.lastname@example.org/t goldand 0.2% copper).
Drill hole locations mapped relative to nickel soil geochemistry show clearly that they lie outside of the yet untested main nickel mineralised zones (see Figure 2 in Appendix).
“Such consistently mineralised intersections of nickel, in drill holes that were aimed principally at testing gold and copper mineralization, point to potential for higher grades in areas of better soil geochemistry and where nickel is the principal target” said Tim Coughlin President and CEO of Lydian. “Rahovec has the size-potential to be economic at these nickel grades, depending also on the metallurgical process and cost of recovery.”
Lydian intends to despatch all previously un-sampled drill core from Rahovec for lab analysis (see Figure 1 in Appendix) and to conduct petrographical test work on the available drill core, followed by preliminary metallurgical testing to ascertain nickel recoveries. In the meantime, the Company will consider identifying a joint-venture partner with nickel expertise for the Rahovec project. This will enable Lydian’s technical efforts to be focussed on the more advanced Drazhnje and Crepulje zinc and lead projects also located in Kosovo.
The Rahovec project is located in Eastern Kosovo, Lydian was granted an 85km exploration license in Dec 2006. Rahovec is underlain mainly by ultramafic units which extend southwards into Albania. The project is known to contain sulphide Ni-Co-Cu mineralisation, which is thought to be the result of magmatic differentiation, similar to deposits seen in Western Australia and Northern Canada.
About Lydian International
Lydian is a diversified U.K. mineral exploration and development company, with expertise employing “first mover” strategies in emerging exploration environments. The Company is currently focused on Eastern Europe, exploring in the Balkan and Caucasus regions, and is developing advanced precious and base metal assets located in Armenia and in Kosovo.
Lydian’s management team has a track record of success in grassroots discovery, in acquiring and developing undervalued assets, and in building companies. Lydian has a strong social agenda and a unique understanding of the complex social and political issues that characterise emerging environments.
The Company’s two main projects are gold at Amulsar in Armenia, and zinc, lead, silver and gold at Drazhnje in Kosovo. Lydian also has a pipeline of promising gold and base metal exploration projects in the Balkans region, and operates a 50/50 gold and copper exploration joint venture with Newmont Overseas Exploration Limited, a subsidiary of Newmont Mining Corporation (NSYE & ASX: NEM, TSX: NMC), in the Caucasus region.
Lydian’s two largest shareholders are Newmont Mineral Holdings B.V., and International Finance Corporation (part of the World Bank Group). Lydian’s web site is www.lydianinternational.co.uk where more information can be found.
Dr Tim Coughlin, MAusIMM; is the Qualified Person overseeing Lydian's exploration programmes. Dr. Coughlin has supervised the preparation of the technical information contained in this press release.
Lydian employees are instructed to follow standard operating and quality assurance procedures intended to ensure that all sampling techniques and sample results meet international reporting standards. All assay work for the released results was carried out by ALS Chemex analytical laboratory in Rosia Montana, Romania, in Perth Australia, or in Vancouver, BC. Please see Lydian’s web site for more information.
For more information, please contact:
President and CEO
+44 7717 204300
VP Investor Relations
+416 214 4654
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