Lydian International Ltd. (TSX:LYD), a gold-focused mineral exploration and development company, today announced further results from resource upgrade, extension and exploratory 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.
Diamond drill holes DDA-047 and DDA-049 have confirmed the continuity of the higher grade "feeder zone", which was intersected in drilling earlier this year (see press release August 2nd 2010). Surface mapping and drilling to-date suggests this higher-grade structure has a strike length of at least 400 meters (see Figure in Appendix), and remains open in all directions. DDA-047 intersected 24 meters at 7.4g/t gold and DDA-049 intersected 40 meters at 1.9g/t gold and 24 meters at 1.6g/t gold from this structure (see Table in Appendix).
Exploration drill hole RCA-292 intersected 17 meters at 1.6g/t gold, some 500 meters to the northeast of the resource shell at Tigranes and exploration drill hole RCA-284 intersected 29 meters at 1.0g/t gold approximately 200 meters to the northwest of the resource shell at Artavasdes. In the Arshak area, exploration drill holes RCA-275 and RCA-276 have intersected 39 meters at 0.9g/t gold and 53 meters at 1.0g/t gold. These drill holes suggest that mineralization intersected in drill holes RCA-272 and RCA-273 (See press release September 28th 2010) extends to the southeast for at least a further 170 meters.
"Results from exploration drilling are highly encouraging, illustrating the potential to significantly extend the current resource envelope in at least three directions" said Tim Coughlin, Lydian's President and CEO. "The higher grade feeder zone on Artavasdes is now being successfully tracked along its strike distance and is proving to be one of several higher grade structures that have now been identified from within the current resource shell. Identifying and connecting these higher grade structures has the potential to increase both the total contained ounces and average grade of the resource at Amulsar".
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.