TORONTO, ONTARIO -- (Marketwire) -- 02/19/13 -- Lydian International Ltd. (TSX: LYD) ("Lydian" or "the Company"), a gold-focused mineral exploration and development company, today announces a geology update for its Amulsar gold project in Armenia. Amulsar is a feasibility stage (see press release September 7, 2012) high-sulfidation style, heap-leach gold project with reported CIM compliant Proven and Probable reserves of 2.29M Oz Gold at 0.8 g/t and 9.98M Oz Silver at 3.3 g/t and a resource of 0.2M Oz Gold at 1.0 g/t in Measured and Indicated categories and 1.1M Oz Gold at 0.9 g/t in the Inferred category.
Detailed structural mapping by consultant structural geologist, Dr. Rod Holcombe, coupled with in-house 3D data integration and modelling, has significantly advanced the Company's geologic understanding of its Amulsar gold deposit in Armenia. In particular, the Company's management believes that the revised geology model implies that there are potentially significant large areas of gold mineralization that remain to be drill tested at Amulsar. The Company is planning a 40,000 meter drill program this year, a significant component of-which will be aimed at testing these newly identified targets.
Of key importance, the newly revised geology model recognizes the predominantly volcanosedimentary nature of the deposit host rocks and relatively large-scale faulting events that have juxtaposed 'slices' of gold-mineralized and barren rock units (see map and sections in Appendix). The deposit host rocks comprise of two distinct volcanosedimentary sequences separated by a time discontinuity; the gold resource is predominantly hosted within the younger upper volcanic sequence (UV). The older lower volcanic sequence (LV) is dominated by argillic-altered massive porphyritic andesite. The upper volcanic sequence is characterised by coarse volcaniclastic breccia occurring within debris flow channels incised into a thick package of finer grained volcanogenic rocks.
In numerous parts of the deposit slices of the unmineralized lower volcanic sequence have been structurally emplaced into or overlying the upper sequence, particularly at the Tigranes region (see sections in Appendix). These slices of lower volcanics are commonly 10-20 meters thick, but deeper drilling in 2012 shows that they can range up to more than 60 meters thick. In the past, these thicker slices were thought by the Company to be the base of mineralization. However, the new results show significant intervals of mineralization occur below these thicker slices, which suggests that the true base of gold mineralization is as yet unknown (see for example section D-D' in Appendix).
Drilling at Erato in 2012 has 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. In particular, the lower volcanics that overlies the eastern part of the Erato pit, has been shown to be about 80m thick and has been thrust over the gold mineralized sequence (see section A-A' in Appendix). This structure extends to the southeast providing significant depth potential over a considerable distance. Mineralization at Erato corresponds well to induced polarization resistivity and when viewed in light of these data the extent of the potentially gold-mineralized volume is clearly evident (see section A-A' and induced polarization resistivity plot in Appendix).
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