LYD... nice jump into new highs today up .23 to 3.20.......
Lydian drills 1.7 g/t Au over 156 m at Amulsar
2011-09-19 05:20 MT - News Release
Dr. Tim Coughlin reports
LYDIAN REPORTS FURTHER DRILL RESULTS FROM AMULSAR INCLUDING 156 METERS AT 1.7 G/T, 63 METERS AT 2.0 G/T AND 53 METERS AT 1.3 G/T GOLD
Lydian International Ltd. has released the 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 combined Indicated and Inferred Category Resource of 2.5 million ounces at 1.0 g/t gold (1.1 million ounces at 1.1 g/t gold in the Indicated Category and 1.4 million ounces at 0.9 g/t gold in the Inferred Category).
Results have been received from a further 32 drill holes at Amulsar comprising primarily infill and step-out drilling from the Tigranes and Artavasdes areas (see Table and Figure in Appendix).
Notable intersections include:
DDA-134 (Artavasdes) 33 meters at 1.0 g/t gold
DDA-135 (Tigranes) 18 meters at 1.0 g/t gold
DDA-147 (Tigranes) 20 meters at 1.9 g/t gold and 63 meters at 2.0 g/t gold
RCA-378 (Artavasdes) 28 meters at 1.0 g/t gold and 22 meters at 1.0 g/t gold and 27 meters at 1.0 g/t gold
RCA-379 (Artavasdes) 10 meters at 1.1 g/t gold
RCA-380 (Artavasdes) 22 meters at 1.2 g/t gold
RCA-382 (Artavasdes) 28 meters at 1.0 g/t gold and 13 meters at 1.1 g/t gold
RCA-384 (Tigranes) 17 meters at 1.3 g/t gold and 42 meters at 1.0 g/t gold
RCA-386 (Arshak) 11 meters at 1.0 g/t gold and 25 meters at 1.1 g/t gold
RCA-388 (Artavasdes) 156 meters at 1.7 g/t gold
RCA-389 (Artavasdes) 54 meters at 1.1 g/t gold
RCA-390 (Artavasdes) 53 meters at 1.3 g/t gold and
RCA-392 (Arshak) 25 meters at 1.0 g/t gold
RCA-393 (Arshak) 12 meters at 1.0 g/t gold
Infill drill holes RCA-388, RCA-389 and RCA-390 intersected 156 meters at 1.7 g/t, 54 meters at 1.1 g/t and 53 meters at 1.3 g/t gold in a new area of higher grade mineralization located on the eastern flank of Artavasdes. Drill holes at the nearby Arshak area RCA-386 (11 meters and 25 meters at 1.1 g/t gold), RCA-392 (25 meters at 1.0 g/t gold) and RCA-393 (12 meters at 1.0 g/t gold) suggest continuity of gold mineralization between Artavasdes and Arshak and will add new gold resources in this area.
Drill hole DDA-147 targeted a cross-cutting northwest trending vein-breccia body on the northeastern extent of Tigranes and intersected from surface 20 meters at 1.9 g/t gold as well as a deeper intersection of 63 meters at 2.0 g/t gold. Along with previous drilling (see press release 30th August 2011) this drill hole further extends the area of proposed starter pit mineralization at Amulsar and confirms the presence of higher-grade cross-cutting (northwest trending) vein-breccia bodies in the area.
Drill hole RCA-384 located approximately 150m to the northeast of the current pit shell at Tigranes, (see figure in appendix) intersected 17m at 1.3 g/t gold and 42m at 1.0 g/t gold. Drilling in this area is proceeding slowly due to large boulders which inhibit drill pad construction but these results further confirm that gold mineralization remains open towards the northeast at Amulsar (see press release 19th October 2010).
"Resource conversion and resource extension drilling is proceeding well at Amulsar with our better understanding of the geometry leading to more efficient resource conversion drilling and to exciting intersections that systematically extend the resource beyond its current limits," said Tim Coughlin, Lydian's President and CEO. "We have a new insight now into the structures that host gold grade and can see them extending for some distance and away from the current resource in all directions. Most importantly, with the deeper drill holes we are drilling this year it is very clear that in some mineralized structures the gold grade remains strong at depth meaning that eventually a high-grade underground resource accessible via decline from the bottom of the proposed pit or from an adit on the hillside may need to be considered."
Dr Tim Coughlin, BSc, MSc (Exploration and Mining), PhD, MAusIMM; is the Qualified Person overseeing Lydian's exploration programs. Dr. Coughlin has supervised the preparation of the technical information contained in this press release. |
