Average Metallurgical Recoveries of 94% for Master Composite Samples obtained after only 47 days of Leaching
TORONTO, Ontario, November 15, 2011 – Lydian International Ltd. (TSX:LYD) (“Lydian” or “the Company”), a gold-focused mineral exploration and development company, today announced further excellent metallurgical results. Amulsar is a high-sulfidation style gold project which currently hosts a CIM compliant Indicated Resource of 1.1 million ounces at 1.1g/t gold, plus an Inferred Resource of 1.4 million ounces at 0.9g/t gold.
Results from the 7 Column-Leach (heap leach simulation) tests carried out on 3 Master Composite samples representing ore from the Tigranes, Artavasdes and Erato deposits, and 4 Column-Leach tests conducted on the main rock types at Amulsar are summarized in the Table below.
The column leach tests were conducted at an optimal crush size of -12mm.
The column leach tests carried out at Wardell-Armstrong International Ltd (WAI) further confirm the leach results as reported in the Press Release dated January 17, 2011.
Average gold leach recoveries were 94% and 90% respectively for the master composites and rock types respectively. Discounting the laboratory column leach recovery for the master composites by 5% would give a predicted full scale gold leach recovery of 89%. High gold leach recoveries were also obtained for low grade composites as shown by results for the Pervasive Iron Oxide and Siliceous Breccia rock types.
Other key observations:
1. The master composites exhibited very fast leach kinetics, with leaching completed after 47 days (see Figure 1);
2. The high grade Fault Gouge and Gossan rock type composites exhibited slower leach kinetics (see Figure 2); and
3. Average cyanide consumption of 0.47kg/t and 0.94kg/t was recorded for the master and rock types respectively.
The main objective of the column leach testwork program was to test master composites prepared from specific metallurgical drill holes representing each of the main Amulsar deposits. The testwork program also explored testing of the main rock to determine if there was any potential metallurgical variability.
Lydian has also shipped 10t of drill core to Kappes-Cassiday & Associates in the United States for further metallurgical testwork as part of the Bankable Feasibility Study. The main purpose of this testwork program is to test representative samples for both spatial and depth variability.
“These metallurgical results are further evidence of extraordinarily good recoveries at Amulsar.” said Tim Coughlin, Lydian’s President and CEO “The results show that there is no significant variability between the different rock types, and that the metallurgical recovery of 85% used in the July 2011 PEA financials would appear to be conservative”.
About Lydian International
Lydian is a gold-focused mineral exploration and development company with expertise employing “first mover” strategies in emerging exploration environments. Currently Lydian is focused on Eastern Europe and on developing its flagship Amulsar gold project in Armenia. The Amulsar group of licenses is wholly owned by Lydian’s Armenian subsidiary (Geoteam CJSC). Lydian also has a pipeline of promising early-stage 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 characterize emerging environments. The Company’s significant shareholders include the International Finance Corporation (IFC) which is a member of the World Bank Group and the European Bank for Reconstruction and Development (EBRD). More information can be found on Lydian’s web site at www.lydianinternational.co.uk.
Gary Anthony Patrick, BSc (Chemistry/Extractive Metallurgy), MAusIMM CP; is the Qualified Person overseeing Lydian's metallurgical testwork programs. Mr. Patrick 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 Lydian’s web site at www.lydianinternational.co.uk.
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,”“believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices and other factors described above and in the Company’s most recent annual information form under the heading “Risk Factors” which has been filed electronically by means of the Canadian Securities Administrators’ website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:
Investor Relations Manager
+44 (0)1534 715472
+44 (0)7829 848420
Figure 1:Master Composite Leach Curves
Figure 2:Rock Type Leach Curves