Easterly extension of interpreted high-grade “feeder zone” confirmed
TORONTO, Ontario, August 17, 2010 – Lydian International Ltd. (TSX: LYD) (“Lydian” or “the Company”), a gold-focused mineral exploration and development company, today announced further 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-212 has intersected 86 meters at 2.7g/t gold from the Artavasdes area, 80m away from and on the same section line as RCA-195 (84 meters at 4.9g/t gold; see figure in Appendix and press release August 10th). Drill-hole RCA-212 confirms the extension of higher grade gold to the east of RCA-195 and supports the presence of an interpreted “feeder zone” having intersected 16m at 12.5g/t gold from almost exactly where this zone was expected.
Other significant new results include resource upgrade holes RCA-208 (95m at 1.3g/t gold) and RCA193(74m at 1.4g/tgold).Results from resource extension holes include RCA-205; 94m at 1.0g/t gold, RCA-191;34m at 2.5g/t and RCA-204; 109m at 0.9g/tgold.RCA-205 andRCA-191 effectively extend the resource fromTigranes to the southwest towards Artavasdes and drill hole RCA-204 extends gold mineralization at Artavasdes towards the southwest (see mapfigure in Appendix).
Significant new intersections include (see table in Appendix):
• RCA-188 (Tigranes) 45 meters at 1.6 g/t gold,
• RCA-191 (Tigranes) 34 meters at 2.5 g/t gold, (drill-hole lost at 59m )
• RCA-193 (Tigranes) 74 meters at 1.4 g/t gold, Including 17m at 4.0 g/t gold
• RCA-194 (Tigranes) 42 meters at 2.0 g/t gold,
• RCA-204 (Artvasdes) 109 meters at 0.9 g/t gold,
• RCA-205 (Tigranes) 94 meters at 1.0 g/t gold (open at depth), Including 11m at 3.0 g/t gold
• RCA-208 (Artavasdes) 95 meters at 1.3 g/t gold (open at depth), Including 19m at 2.7 g/t gold
• RCA-212 (Artavasdes) 86 meters at 2.7 g/t gold, Including 16m at 12.5 g/t gold
“Once again these results are a good example of what we are trying to achieve in the resource upgrade and extension components of this year’s drilling program at Amulsar” said Dr Tim Coughlin, Lydian’s President and CEO. “Systematic step-out drilling is extending the known limits of the resource towards the northwest and southwest and it is gratifying to see that we are now successfully predicting the likely extensions of higher grade zones such as the interpreted “feeder” at Artavasdes”.
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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