Opening of the Amulsar Information Centre in the village of Gndevaz – April 2013
Lydian International is a mineral exploration and development company with expertise in discovering and developing new gold projects in unfamiliar and frontier settings.
Amulsar gold project based in Southern Armenia was a grassroot discovery made by Lydian International in 2006. As of March 2013 the deposit currently hosts a Global gold resource of 1.85M Oz at 1.0 g/t in Measured, 0.6M Oz at 1.0 g/t in Indicated and 1.8M Oz at 0.8 g/t in Inferred at a 0.3 g/t gold cut-off. M&I mineral resources at Amulsar are commonly surrounded laterally and sometimes at depth by a halo of Inferred category resource. Mineral Reserves incorporated in the September 2012 Feasibility Study hold 2.3M Oz Gold at 0.8g/t and 9.97M Oz Silver at 3.3 g/t at a 0.3 g/t cut-off. A Reseve update will be expected at the end of 2013.
There is a 25,000 meter drill program planned for 2013 which will focus on deep drilling below the current pit-shell and infill drilling those areas of Inferred category resources residing within the current Feasibility Study pit-shell, with the aim being to convert them to mineral reserves. It is still open in all directions, including depth with a updated feasibility study due for release mid 2013, construction beginning Q2 2013 and full production planned for late 2015.
With a strong social agenda and unique understanding of the complex political backdrop to this region, Lydian develops its projects responsibly with exceptional emphasis on social and environmental awareness and care. The company minimises environmental impact and engages local communities in order to deliver sustainable social development initiatives.
Lydian’s major shareholders are the International Finance Corporation, part of the World Bank Group, and The European Bank for Reconstruction and Development. Both these entities provide influential in-country support and valuable advice to manage environmental, social and governance risks.