Gold mineralization now intersected in drill holes over an approximate 300m width with potential to extend in all directions
TORONTO, Canada, September 9th, 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 15 combined diamond and reverse circulation drill holes have been returned and the best results include:
• RCA-022, 109m at 1.1/t gold (including 34m at 3.1g/t gold),
• DDA-009 with 92m at 1.4g/t gold (including 9m at 8.6g/t gold),
• RCA-021 with 72m at 1.1g/t gold (including 11m at 5.2g/t gold).
A complete list of drill results is in Table 1 in the Appendix and drill hole locations relative to surface rock-chip geochemistry is in Figure 1 in the Appendix.
Preliminary interpretative cross-sections and geological studies imply that higher grade gold mineralisation at Amulsar is hosted in a combination of both steeply dipping feeder structures (“feeders”) and shallowly dipping lithologically controlled structures (“flats”). This is illustrated in Figure 2 in the Appendix. Gold mineralisation has now been intersected over approximately a 700m strike distance and a 300m width.
“The combination of ‘flat’ and ‘feeder’ type bodies, the localised high-grade in a broader low-grade halo, and outstanding results from our recent metallurgical testing including 94% to 97% gold recoveries, are all very encouraging from a bulk open-pit mining perspective,” said Tim Coughlin, Lydian’s President and CEO. “However, it is still early days at Amulsar and further drilling is required before we fully understand the geometry and dimensions of the system. Our plan till the end of this year is to do enough drilling before the snow falls at the Tigranes-Artavasdes area to get a good indication of resource potential, plus enough drill holes at Erato and other targets to indicate even more upside.”
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. Currently the Company is conducting a 20,000m drill program 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 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:
Linda Montgomery VP Investor Relations
+416 214 4654
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