Lydian International Ltd., a diversified U.K. mineral exploration and development company, today announced results from further exploratory and step-out drilling at its Amulsar gold discovery in Armenia. Results from 7 reverse circulation drill holes aimed at testing the potential for gold mineralisation located immediately to the south and 1.6km to the northwest of the central Tigranes area, at the Artavasdes and Erato prospects respectively, have returned positive results (Table 1, Appendix). These results coupled with rock-chip geochemistry and geologic mapping imply exploration upside across-strike for at-least 2km (see Figure 1 in Appendix). Best results include:

- RCA-055, 50m at 1.0g/t gold and 22.2g/t silver,
- RCA-052, 58m at 1.0g/t gold,
- RCA-054, 53m at 1.0g/t gold (including 12m at 2.7g/t gold; open at depth),
- DDA-058, 18m at 0.6g/t gold (at the Erato prospect 1.6km to the northwest of Tigranes),

“The drill results from Artavasdes when coupled with those from Tigranes, open up further tonnage potential along a mineralised front of at-least 800m length towards the southeast along the Amulsar ridge,” said Tim Coughlin, Lydian’s President and CEO. “Gold intersections from drilling at the Erato prospect which is about 1.6km along the Amulsar ridge to the northwest of Tigranes, are also highly encouraging and imply the presence of another gold mineralised system at this locality.”

Amulsar is a high-sulphidation type epithermal gold project located in central Armenia. Lydian identified the gold bearing potential of the project in mid-2006 and started initial drilling in 2007. Lydian has currently just completed a 13000m drill program to test the bulk tonnage potential and confirm a gold resource. The Amulsar license is 95% owned by Lydian’s wholly owned Armenian subsidiary (Geoteam CJSC). The project is currently being explored as part of a 50/50 joint venture with Newmont Overseas Exploration Limited, a wholly owned subsidiary of Newmont Mining Corporation.

This entry was posted by Gold Mining on Wednesday, November 12th, 2008 at 3:35 am and is filed under Gold, Gold Mining Companies, Silver. Tags: Armenia, Company, Drilling, Exploration Limited, Gold, Gold Mine, gold miner, Joint Venture, Ltd, Lydian International Ltd., Mine, mining, Newmont, Newmont Mining, Newmont Mining Corporation, Newmont Overseas Exploration Limited, Newmont Overseas Exploration Ltd, North, Northwest, owned subsidiary, Silver, Tim Coughlin, United Kingdom. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.