HEAP LEACH AMENABILITY TESTS SHOW 94% TO 97% EXTRACTIONS FOR GOLD AT LYDIAN’S AMULSAR DISCOVERY
MarketWatch
Aug. 13, 2008
Tests conducted on drill core extending to 146m down-hole depth
TORONTO, ONTARIO, Aug 13, 2008 (MARKET WIRE via COMTEX) — Lydian
International Ltd. (CA:LYD: news, chart, profile) , a diversified
U.K. mineral exploration and development company, today announced
preliminary results from metallurgical testing at its Amulsar gold
discovery in Armenia.
A gold recovery test program was applied to a crushed continuous
half drill-core of 146m length at SGS Lakefield in Canada. As part
of the program, heap-leach amenability tests (coarse ore bottle roll
cyanidation) on whole rock and gravity concentrates showed easily
reproducible very high gold extractions at 94-97%.
The tests were carried out on 1 kg whole rock samples and gravity
concentrates, at primary grind sizes from approximately 150 to 75
microns, with a pulp density 40% solids and a 48h retention time
at pH 10.5-11 (maintained with lime). The prepared material with a
"head-grade" of 1.1 g/t Au was derived from the entire 146m of HQ half
core from diamond drill hole DDA-004, a scout drill hole from the
2007 drilling programme. The core was crushed, mixed and riffled at
-1/2 inch, to arrive at replicate samples for the test program. The
main mineralogy of the whole rock consists of hematite, goethite,
and rutile in a quartz matrix.
For all tests a gold recovery of 90% was established after only 8h, and
reached 95% after 24h, both with modest to moderate NaCN consumptions.
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. The Amulsar license is 95% owned by Lydian’s
wholly owned Armenian subsidiary (Geoteam CJSC) and 5% owned by that
Company’s local director. The project is currently being explored as
part of a joint venture with Newmont Overseas Exploration Limited,
a wholly owned subsidiary of Newmont Mining Corporation (CA:NMC:
news, chart, profile) (NEM:Newmont Mining Corporation News, chart,
profile, more Last: 44.15+1.79+4.23%
4:03pm 08/13/2008
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Financials Sponsored by: 44.15, +1.79, +4.2%) (ASX: NEM). The joint
venture is a 50%-50% contribution. Newmont has two options to increase
its interest. The first is an option to earn a further 20% by funding
the project through to feasibility; the second option allows Newmont
to earn a further 10% by funding through to commercial production.
About Lydian International Lydian is a diversified U.K. mineral
exploration and development company, with expertise employing "first
mover" strategies in emerging exploration environments. The Company
is currently focused on Eastern Europe developing advanced precious
and base metal assets located in Armenia and in Kosovo.
The Company’s two main projects are gold at Amulsar in Armenia, and
zinc, lead, silver and gold at Drazhnje in Kosovo. Lydian also has a
pipeline of promising gold and base metal exploration projects in the
Balkans region, and operates a 50/50 gold and copper exploration joint
venture with Newmont Overseas Exploration Limited, a subsidiary of
Newmont Mining Corporation (CA:NMC: news, chart, profile) (NEM:Newmont
Mining Corporation News, chart, profile, more Last: 44.15+1.79+4.23%
4:03pm 08/13/2008
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Discuss Financials Sponsored by: 44.15, +1.79, +4.2%) (ASX: NEM),
in the Caucasus region.
Lydian’s management team has a track record of success in grassroots
discovery, in acquiring and developing undervalued assets, and
in building companies. Lydian has a strong social agenda and a
unique understanding of the complex social and political issues that
characterise emerging environments. The two largest shareholders are
Newmont Mineral Holdings B.V. (owned by Newmont Mining Corporation),
and International Finance Corporation (part of the World Bank
Group). More information can be found on Lydian’s web site at
Dr Tim Coughlin, MAusIMM; is the Qualified Person overseeing Lydian’s
exploration programmes. Dr. Coughlin has supervised the preparation
of the technical information contained in this press release.
Lydian employees are instructed to follow standard operating
and quality assurance procedures intended to ensure that all
sampling techniques and sample results meet international reporting
standards. All assay work for the released results was carried out
by ALS Chemex analytical laboratory in Rosia Montana, Romania, in
Perth Australia, or in Vancouver, BC. Please see Lydian’s web site
for more information.
Forward-looking Information Securities regulators encourage companies
to disclose forward-looking information to help investors understand
a company’s future prospects. This press release contains statements
about our future financial condition, results of operations and
business. These are "forward-looking" because we have used what we know
and expect today to make a statement about the future. Forward-looking
statements usually include words such as may, expect, anticipate,
believe or other similar words. We believe the expectations reflected
in these forward-looking statements are reasonable. However, actual
events and results could be substantially different because of the
risks and uncertainties associated with our business or events that
happen after the date of this press release. You should not place
undue reliance on forward-looking statements. As a general policy,
we do not update forward-looking statements except as required by
securities laws and regulations.