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  • Lydian International Identifies New Drilling Targets At Amulsar 0 comments
    Feb 19, 2013 4:01 PM

    Lydian International's (TSE:LYD) has indicated potentially significant areas of gold mineralisation yet to be drilled through new structural mapping of its Amulsar project in Armenia.

    The revised geology model combined mapping by structural geologist Rod Holcombe with in-house 3D modelling.

    The company is now planning a 40,000 metre drill programme this year, a significant component of which will be aimed at testing these newly identified targets, Lydian said.

    Drilling at Erato, in the main open-pit shell, in 2012 had already shown the area to hold significant resource potential, with numerous drill-holes revealing large gold mineralized zones still open at depth and towards the north and east.

    Drilling during 2012 also extended known gold mineralisation at Arshak by up to 200 metres from the current pit-shell design towards the southeast and this area remains open both laterally and at depth.

    Amulsar is a feasibility stage high-sulfidation style, heap-leach gold project.

    Reported CIM compliant Proven and Probable reserves were 2.29mln ounces (oz) gold at 0.8 grams per tonne (g/t) and 9.98mln oz silver at 3.3 g/t and a resource of 0.2mln oz gold at 1.0 g/t in Measured and Indicated categories and 1.1mln oz gold at 0.9 g/t in the Inferred category.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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