Lydian International Ltd. ("Lydian" or "the Company"), a gold-focused mineral exploration and development company, today announces a geology update for the Amulsar gold project in Armenia.
Lydian's geological team, together with consultant structural and hydrothermal systems specialists Dr. Rod Holcombe and Dr. Nick Oliver have completed a detailed geologic model incorporating the results of the 2013 drilling program.
Dr. Oliver, a structural and hydrothermal systems consultant, carried out an analysis of multi- element geochemical data derived from drilling assays and surface soil and rock chip assays from the Amulsar project area. In carrying out this analysis, Dr. Oliver was able to geochemically classify the Amulsar rock units and identify clear gold-related alteration signals, allowing a more confident and robust interpretation of the reverse circulation logging, particularly in the Erato and Arshak areas. This better understanding of the Amulsar rocks and alteration patterns was combined with detailed structural mapping and 3D modelling by Dr. Holcombe, a structural geology consultant, to create a more refined lithological and structural interpretation which further supports interpreted depth potential of the Amulsar resource.
As a consequence of this work, management believes that significant potential remains at depth at both Erato and Tigranes (see Figure A in Appendix) and both laterally and depth at Arshak (see Figure B in Appendix).
As a further consequence of this work, the geochemical analyses also indicate a strong association between gold, iron and anomalous copper, with all of the gold resource lying in haematite-rich fault zones, breccias and fractures. Although the presence of iron sulphides in the host rocks and strong clay alteration indicates a connection to high-sulphidation epithermal gold systems, the specific gold association is also reminiscent of gold-rich Iron Oxide Copper Gold (IOCG) deposits. Composite epithermal-IOCG deposits have been recognised elsewhere, particularly in the Chilean Iron Belt.
The Company continues to focus its efforts on the permitting process for the Amulsar gold project and completing the related environmental and social impact assessment (ESIA), feasibility study and detailed engineering plans, in preparation for its planned mine construction and commencement of production.
"Unravelling the complex geology of Amulsar has been a detailed and painstaking process but the results more than outweigh the effort" said Dr. Tim Coughlin, Lydian's president and CEO "there is further resource potential throughout the project area entirely but the apparent upside beneath Erato is particularly compelling. I congratulate the geologic team on a job very well done".
The information in this news release was compiled, reviewed and verified by Dr. Timothy Coughlin, BSc (Geology), MSc (Exploration and Mining), PhD (Structural Geology), FAusIMM, President and CEO of Lydian International Ltd and a qualified person as defined by National Instrument 43-101.
Source: http://www.lydianinternational.co.uk