Best intersection yet successfully outlines higher grade zone in Artavasdes area
TORONTO, Ontario, August 10, 2010 – Lydian International Ltd. (TSX: LYD) (“Lydian” or “the Company”), a gold-focused mineral exploration and development company, today announced results from resource upgrade and extension drilling at its Amulsar gold discovery in Armenia. Amulsar is a high-sulfidation style gold project which currently hosts a CIM compliant Inferred Category Resource of 1.4 million ounces at 0.9g/t gold.
Reverse circulation drill hole RCA-195 has intersected 84 meters at 4.9g/t gold (open at depth) from the Artavasdes area. The intersection occurs below a low-grade silica “cap” but with favorable topography as an extension to outcropping mineralization on adjacent hill sides to the northwest, southwest (see long section and cross section in Appendix) and towards Arshak in the southeast This drill hole is part of an ongoing program aimed at upgrading the current resource by tracking and connecting zones of higher grade which were isolated in previous resource estimates. Gold mineralization in RCA-195 remains open at depth, to the south and east and suggests potential for an exciting new high-grade zone located below the Artavasdes area. Previously released drill holes located proximal to RCA-195 and also intersecting high-grade gold include RCA-069 (135m at 2.3g/t gold), RCA-070 (71m at 3.1g/t gold) and RCA-071(96m at 1.4g/t gold; see press release 25th November 2008).
Other new results include 51m at 2.3g/t gold (RCA-198, open at depth) returned from resource extension drilling along the northwestern edge of the Tigranes area (see results table and map figure in Appendix) and 12m at 3.0g/t gold (RCA-185) from a very discrete higher grade fault zone also located along the northwestern edge of the Tigranes area.
Significant new intersections include
• RCA-179 (Tigranes) 34 meters at 1.0 g/t gold,
• RCA-180 (Tigranes) 56 meters at 1.0 g/t gold,
• RCA-184 (Tigranes) 40 meters at 1.0 g/t gold,
• RCA-185 (Tigranes) 12 meters at 3.0 g/t gold,
• RCA-195 (Artavasdes) 84 meters at 4.9 g/t gold (open at depth),
• RCA-198 (Tigranes) 51 meters at 2.3 g/t gold (open at depth),
Including 19m at 5.6 g/t gold
“The resource upgrade and extension components of this year’s program at Amulsar are proving highly successful” said Dr Tim Coughlin, Lydian’s President and CEO. “Lydian’s geologists have now identified at-least three linear and curvilinear higher grade zones all of-which remain open along strike and at depth beyond the current resource envelope. Drill holes to follow these higher grade zones have been planned and will ensure that they form key components of future resource upgrade work. The exploratory component of this year’s program is progressing well. The drill rigs have now moved off the Erato and Erato North prospect areas and samples are in the process of being split, dispatched and analyzed”.
About Lydian International
Lydian is a diversified mineral exploration and development company with expertise employing “first mover” strategies in emerging exploration environments. Currently Lydian is focused on Eastern Europe developing advanced precious and base metal assets in Armenia and Kosovo. The two main projects are gold at Amulsar in Armenia, and zinc, lead, silver and gold at Drazhnje in Kosovo. The Amulsar group of licenses is 95% owned by Lydian’s wholly owned Armenian subsidiary (Geoteam CJSC). Lydian also has a pipeline of promising gold and base metal exploration projects in the Caucasus regions.
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 significant shareholders are the International Finance Corporation (IFC), a member of the World Bank Group, Newmont Mineral Holdings B.V. (owned by Newmont Mining Corporation), and the European Bank for Reconstruction and Development (EBRD). More information can be found on Lydian’s web site at www.lydianinternational.co.uk.
Christopher John Bargmann, FGS(C Geol), MAusIMM, Pr.Sci.Nat; is the Qualified Person overseeing Lydian's exploration programs. Mr. Bargmann 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. More information can be found on Lydians’s web site at www.lydianinternational.co.uk.
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