Previously-released drilling and new surface geochemical results, identify continuous gold mineralization over 1km in strike length (open in all directions) and highlight further gold potential over an area covering some 5km2
TORONTO, Canada, January 13th, 2008 – Lydian International Ltd. (TSX:LYD), a diversified mineral exploration and development company, today announced a summary of drilling results and new surface sampling results from its 2008 exploration programme at the Amulsar gold discovery in Armenia.
During 2008 approximately 13000m of combined diamond and reverse circulation drilling was conducted at the project. Drilling was focussed principally on the Tigranes area which is one of at-least three known gold prospects occurring within the Amulsar license but also included some holes at the Artavasdes area and several scout drill holes to test outlying targets (see Figure 1). Drill results at Tigranes and Artavasdes have identified continuous gold mineralisation over more than 1km in strike length and open in all directions.
Highlights of the drilling programme at Tigranes included
• Press Release 25th November:
RCA-069, 135m at 2.3g/t gold (including 17m at 5.3g/t and 17m at 9.6g/t gold)
RCA-070, 71m at 3.1g/t gold
• Press Release 3rd November:
RCA-038, 106m at 2.3g/t gold open at depth (including 20m at 8.1g/t gold)
RCA-043, 67m at 3.6g/t gold (including 21m at 9.7g/t gold)
• Press Release 1st October:
RCA-028, 125m at 1.6/gt gold (including 31m at 4.4g/t gold)
• Press Release 9th September:
RCA-022, 109m at 1.1/t gold (including 34m at 3.1g/t gold)
DDA-009, 92m at 1.4g/t gold (including 9m at 8.6g/t gold)
• Press Release 30th July:
RCA-010, 77m at 2.3g/t gold (including 16m at 3.6g/t gold and 29.2g/t silver)
A summary of best drilling results to-date is provided in Table 1
Results from scout reverse circulation drill holes, continuous channel sampling across outcropping silica ridges to the north and south of the drilling areas, and rock chip samples have identified some 5km2 of gold potential and identified new targets for follow up drilling in 2009. An overview of drill-hole locations with projections of gold-grade to surface, plus results from continuous channel and rock chip sampling are provided in Figure 1 in Appendix.
“These latest results provide some indication of the overall size potential at Amulsar” said Tim Coughlin, Lydian’s President and CEO. “During 2008 we concentrated most of our drilling effort in evaluating a relatively small area of the Amulsar license with the aim being to identify the basic controls on gold mineralisation and develop a preliminary resource. We now believe the project covers a substantially larger area. Gold mineralising systems such as Amulsar can take some time and a lot of drilling to resolve true tonnage potential. Our experience from Tigranes has been that where we find gold at-surface it can continue to down-hole depths in excess of 150m. We are hoping to find similar continuity at Artavasdes, Erato and at the new targets identified by these recent results”
Amulsar is a high-sulphidation type epithermal gold project located in central Armenia. Lydian identified the gold bearing potential of the project in mid-2006 and started initial drilling in 2007. Lydian has completed a 13000m drill programme to test the bulk tonnage potential and confirm a gold resource. The Amulsar license is 95% owned by Lydian’s wholly owned Armenian subsidiary (Geoteam CJSC). The project is currently being explored as part of a 50/50 joint venture with Newmont Overseas Exploration Limited, a wholly owned subsidiary of Newmont Mining Corporation (NYSE:NEM).
About Lydian International
Lydian is a diversified U.K. mineral exploration and development company, with expertise employing “first mover” strategies in emerging exploration environments. Currently the Company is focused on Eastern Europe developing advanced precious and base metal assets in Armenia and in Kosovo. The 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 in Armenia.
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 largest shareholders are Newmont Mineral Holdings B.V. (a subsidiary of Newmont Mining Corporation), and International Finance Corporation (part of the World Bank Group). More information can be found on Lydian’s web site at www.lydianinternational.co.uk.
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
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