Lydian subsidiary receives exploration and mining licence in Georgia

12 October 2011 (Last Updated October 12th, 2011 18:30)

Lydian International's subsidiary Georgian Resource Company has received an exploration and mining licence foran area of gold mineralisation in Guria province of western Georgia.

Lydian International's subsidiary Georgian Resource Company has received an exploration and mining licence for an area of gold mineralisation in Guria province of western Georgia.

The Dzoti project was rediscovered by Lydian geologists during reconnaissance exploration in 2010.

According to initial scale mapping and sampling, the project returned anomalous gold sample results of 1g/t to 4g/t gold, which are over a strike distance of 2km and from numerous sub-parallel fault zones and hydrothermal breccia veins located structurally below an interpreted silica-cap.

The faults are located adjacent to a pophyritic, pyrite-sericite altered quartz-diorite intrusion that returned anomalous gold values of up to 0.3 g/t gold in grab samples.

The 40-year term Dzoti licence is conditional on the submission of an environmental impact assessment and interim report on potential resources within 24 months.