New high-grade zone extends gold mineralization over a distance of at least1km from Tigranes to Artavasdes prospect areas
TORONTO, Canada, November 25th, 2008 – Lydian International Ltd. (TSX:LYD), a diversified U.K. mineral exploration and development company, today announced results from further drilling at its Amulsar gold discovery in Armenia. Results from a further 17 combined diamond and reverse circulation drill holes from the Tigranes area have been returned (Table 1, Appendix). Best results include:
• 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,
• RCA-071, 96m at 1.4g/t gold (including 20m at 3.2g/t gold),
• RCA-063, 111m at 1.1g/t gold (including 27m at 2.5g/t gold),
• RCA-065, 92m at 1.0g/t gold Drill hole locations with projections of gold grade to surface are provided in Figure 1 in Appendix.
“These drill results are from a newly identified high-grade zone at the southwest extent of the Tigranes area and are obviously very encouraging,” said Tim Coughlin, Lydian’s President and CEO. “It appears as though gold mineralisation is continuous from the Tigranes to Artavasdes prospect areas over a distance of at least 1km and remains open and untested towards the south. We are currently waiting for further drilling and channel sampling results from this year’s programme before summary work and a preliminary resource estimate gets underway.”
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, started initial drilling in 2007, and has just completed a 13,000m 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 the Caucasus region.
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 two largest shareholders are Newmont Mineral Holdings B.V. (owned by 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
VP Investor Relations
+416 214 4654
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