Lydian International Ltd. has announced results from further drilling at its Amulsar gold project in Armenia. Amulsar is a high-sulfidation style gold project which currently hosts a CIM compliant Indicated Resource of 1.1 million ounces at 1.1 g/t gold, plus an Inferred Resource of 1.4 million ounces at 0.9 g/t gold.
Results have been received from a further 22 combined diamond and reverse circulation drill holes at Amulsar.
Infill drill hole DDA-223 was drilled at Tigranes and angled towards the southeast in order to intersect a northeast-southwest trending fault-fracture zone close to its intersection with a northwest-southeast trending fault-breccia body. The drill hole intersected an impressive 99m at 4.0 g/t gold and has identified a new higher grade (fault-intersection) zone towards the southeastern edge of the resource. This higher-grade zone remains open at depth.
Step-out drill holes RCA-442, RCA-443 and RCA-454 were drilled along the northwestern edge of the resource at Tigranes and intersected 30 meters at 1.0g/t gold (open at depth), 52 meters at 0.9g/t gold and 21 meters at 1.0g/t gold. These drill holes targeted a northeast trending fault fracture zone and effectively extends further resource potential below the current proposed pit-shell on the northwestern side of Tigranes.
Exploration drill holes RCA-451, 452 and 453 targeted a discrete northeast trending gradient break identified in recent ground spectrometer data along the southeastern extent of Erato. From an initial exploration perspective results from this new area are very encouraging.
Drill hole RCA-455 intersected 34 meters at 1.1g/t gold from the Arshak area. Drilling at Arshak has been very successful this year adding new ounces to the resource and clearly showing that the resource remains open towards the southeast along the ridge top.
"Drill hole DDA-223 has returned one of the most exciting intersections yet at Amulsar" said Tim Coughlin, Lydian's President and CEO "It appears to have drilled into a steep plunging intersection zone where northeast and northwest trending faults and fractures link and interact. In that sense it is quite similar to northwest Artavasdes where long intersections of higher grades and a significant proportion of resource ounces have also been intersected. We have now released 92.7% of our 2011 drilling results, with geological modeling and work on the resource update currently underway and expected to be complete in early 2012".