Tuesday, 15 January 2013

Lydian looks to "exciting" year ahead as unveils further "impressive" drill results

Armenia focused gold exploration and development groupLydian International (TSE:LYD) has unveiled another set of “impressive” drilling results from its Amulsar project.
The data was unearthed from infill drilling at the Tigranes and Artavasdes targets, further step-out drilling at Arshak and deep exploration drill holes at Erato.
The grades ranged between 1 and 1.8 grams per tonne, including 35 metre section at that higher figure and 89 metres at 1 gram. The other stand outs were two 30 metre sections at 1 gram and 26 metres at 1.6 grams per tonne of the precious metals.
Chief executive Tim Coughlin said: "Another set of impressive results from a successful drill season at Amulsar. 
“Drilling in 2012 has reinforced our view of the overall resource potential at the project and provided us with a few pleasant surprises. 
“Erato appears to be growing in all directions but particularly at depth and towards the Tigranes pit, whilst at Arshak we are stepping consistently southeastwards finding more gold along the ridge top. 
“In light of our better understanding of the gold distribution, we are continuing to optimise mine layout plans, particularly in regards to crushing facilities and heap-leach capacity. 
“This year is set to be an exciting year for Lydian with planned resource updates, continued work towards achieving permitting milestones, completing engineering studies and carrying out a significant drill programme." 
Amulsar is a high-sulfidation-style, heap-leach gold project with a proven and probable reserves of 2.9mln ounces of gold and almost 10mln ounces of silver.
In all 30 holes were drilled.

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