Lydian starts drilling programme on Amulsar gold project in Armenia

10 May 2012 (Last Updated May 10th, 2012 18:30)

Lydian International has started an initial drilling programme at the Amulsar gold project in Armenia.

Lydian International has started an initial drilling programme at the Amulsar gold project in Armenia.

The company intends to complete at least 25,000m of combined diamond and reverse circulation drilling in 2012, which will delineate new mineralisation to extend laterally and at depth.

Lydian International president and chief executive officer Tim Coughlin said that the company is planning for another year of successful exploration and development of the Amulsar gold project, building on their discoveries.

"Although Amulsar is an advanced gold project, with a bankable feasibility study expected to be completed around the end of this quarter, the resource is open and untested in all directions and we continue to be excited about the potential to discover new mineralisation," said Coughlin.

"We are particularly interested in finding out what systematic step-out drilling at Arshak and deep drilling below Erato will reveal this year."

The Amulsar resource is open in all directions extending 1,000m towards the southeast from Arshak towards the northeast at Tigranes and southwest at Orontes.

Further drilling is required to close off Erato, particularly towards the southwest and grid drilling will be conducted in an effort to join Erato and Tigranes along an apparently northwest trending mineralised corridor.

Two diamond drilling rigs will be used at Amulsar to test major targets identified by a ground geophysics programme.