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Lydian International Receives "encouraging Results" From Armenian Go

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  • Lydian International Receives "encouraging Results" From Armenian Go

    LYDIAN INTERNATIONAL RECEIVES "ENCOURAGING RESULTS" FROM ARMENIAN GOLD PROJECT
    Jon Mainwaring

    ProActive Investors
    http://www.proactiveinvestors.co.uk/companies/news/30843/lydian-international-receives-encouraging-results-from-armenian-gold-project-30843.html
    Jul 19 2011
    UK

    Armenia-focused gold explorer Lydian International (TSX:LYD) has said
    it has received "encouraging" results from drilling at its Amulsar
    gold project.

    The project - which covers a region of high-sulphidation,
    epithermal-type gold mineralisation located in central Armenia - hosts
    a Canadian Institute of Mining (CIM) - compliant combined indicated
    and inferred category resource of 2.5 million ounces at 1.0 g/t gold.

    Interim results have been received from 23 drill holes, comprising
    primarily infill and resource extension drilling from the western
    extent of the contiguous Tigranes and Artavasdes areas, and these
    results are encouraging, according to the company.

    They include a drill hole (DDA-096) that intersected 69 metres at 1
    g/t of gold from surface, one (RCA-308) that intersected 55 metres
    at 1.6 g/t and another (RCA-306) that intersected 55 metres at 1.1 g/t.

    "These are encouraging results and contribute to our ongoing geological
    modelling work at the Amulsar deposit aimed at both upgrading
    the indicated and inferred category resources and identifying new
    structural trends which may well carry further gold mineralisation,"
    said Tim Coughlin, Lydian's President and chief executive officer.

    "These results come ahead of our Preliminary Economic Assessment
    which will be released by the end of July."

    The Amulsar project was discovered in 2006 and remains open in all
    directions. Lydian is currently advancing Amulsar towards Bankable
    Feasibility with full production planned in the first half of 2014.

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