Lydian International, a mineral exploration and development firm, has declared the first results from exploration and step-out drill program carried out at the Amulsar gold project, which is a high-sulfidation style gold property in Armenia.
Currently, this Amulsar project houses a CIM compliant resource estimate of 36.1 Mt at 0.9 g/t gold in inferred category and 68.2 Mt at 1.0 g/t gold in indicated category. The drilling results have been obtained from first 18 holes, including exploration and step-out drill holes from the Arshak, Erato and Orontes regions, at the Amulsar project.
The company has encountered 1.0 g/t gold over 53 m in hole DDA-272; 1.0 g/t gold over 37 m in hole DDA-276; 1.0 g/t gold over 23 m in hole DDA-278; 0.9 g/t gold over 33 m in hole DDA-280; 1.0 g/t gold over 38.5 m in hole DDA-281; 1.5 g/t gold over 13 m and 1.0 g/t gold over 37 m in hole DDA-285; 1.0 g/t gold over 38 m in hole DDA-286; and 1.0 g/t gold over 23 m in hole DDA-290.
These drilling results validate the company’s view that additional resource potential is present beyond the present resource shell found n the southeast part of Arshak. The hole DDA-290 drilled at Erato intercepted considerable gold intervals from 167 m depth and made the deepest intersections at the property. The holes DDA-276 and DDA-290 indicate the existence of extensive un-drilled capability at depth of Erato. Exploration drill program at Orontes, situated approximately 1 km towards the resource shell’s southwest part, has yielded 1.0 g/t gold over 53 m, but significant gold was not intersected in additional holes drilled in the region.
The Orontes region seems to contain a sequence of sharply dipping siliceous mineralized gold zones and at the same time, extensive in strike and depth is restricted in lateral extent. Lydian is planning to finish a resource calculation at the area in 2013.