Lydian International Ltd. (TSX:LYD), a gold-focused mineral exploration and development company, today announced further results from drilling and 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.
Diamond drill hole DDA-076 was positioned to test the western limits of the resource envelope at Tigranes and intersected 89 meters at 1.9g/t gold (including 11 meters at 5.9 g/t gold, and 14 meters at 3.7 g/t gold. This drill hole is significant in that it extends the area of known high grade mineralization on the western edge of the Tigranes resource. Drill hole DDA-67 intersected several mineralized zones at Artavasdes including 52 meters at 1.2 g/t gold, and 19meters at 1.0 g/t gold. Additionally drill hole DDA 69, on the south east of Artavasdes, intersected 46.5m at 1.2 g/t gold. This drill hole is located 100 meters south of RC hole RCA 301, which intersected 40 meters at 5.6 g/t gold, and these intersections may form part of a potential new higher grade "feeder zone" on the south east of Artavasdes.
Additional rock chip channel sampling on Artavasdes has returned 18 meters at 1.2 g/t gold. These results extend the area of known mineralization on Artavasdes to surface and will be included in the updated resource estimate planned for Q1 2011. In addition a series of continuous rock chip samples collected on Tigranes have returned an average of 12 meters at 7.5 g/t gold.
Three metallurgical holes have also been completed on Tigranes, Artavasdes and Erato (DDAM 068, 070 and 071). A total of 421 meters of PQ size core has been dispatched to Wardell Armstrong International in the UK and the metallurgical testwork on this new core is planned to start during December 2010.
"These results will be incorporated in the modeling and resource update work that is currently underway" said Tim Coughlin, Lydian's President and CEO. "There is a concentrated and concerted technical effort underway with the aim being to complete and release the resource update by the end of February next year"
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.
Source: Lydian International Ltd.