Amulsar - Resources and Reserves
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In January 2012 Lydian announced an updated resource estimate comprising 68.2 Mt at 1.0 g/t Au (2.1 million ounces) of Indicated Category resources and 36.1 Mt at 0.9 g/t Au (1.1 million ounces) of Inferred Category resources (See Table 1) based on a 0.40 g/t gold cutoff grade. Herb Welhener, Vice President of Independent Mining Consultants Inc. Tucson, Az. prepared the mineral resource estimate in accordance with CIM guidelines.
This most recent resource estimate is developed from an additional approximately 35,000 meters of combined diamond and reverse circulation drilling (for a total of approximately 90,000 meters). Gold at Amulsar is hosted primarily in sub-vertical faults, associated breccia veins and sheeted fractures with faults and breccia veins generally trending northwest-southeastwards and sheeted fracture zones trending northeast-southwestwards. Sub-horizontal possibly stratabound mineralization also controls some of the gold at Amulsar.
This resource update comprises a total of 1.7 million ounces gold in the indicated category and 0.6 million ounces gold in inferred category (using a 0.4g/t cut-off) from the contiguous Tigranes and Artavasdes areas and 0.5 million ounces gold in the indicated category and 0.4 million ounces inferred category from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes (See Table 2).
This mineral resource estimate has been confined within a theoretical floating cone open pit geometry which ensures an extra level of confidence by precluding ounces that are unlikely to be mined. The floating cone parameters included a US$1,300/oz gold price and current estimates of project operating costs and gold recovery. At the 0.40 g/t gold cutoff grade, 99% of the unconfined global gold ounce estimate lies within this theoretical open pit geometry, thus indicating the robustness of this mineral resource.
Previous years CSA NI 43-101 Resource Estimate Reports for 2009/10/11 -
March 2009 Lydian had announced its maiden Inferred resource from Tigranes and Artavasdes totalling 1M ounces.
CSA NI 43-101 April 2009 Report
March 2010 the resource was 1.4 million ounces in Inferred resource category. The 2009 and 2010 CSA NI 43-101 reports can be found by following the link below.
CSA NI 43-101 March 2010 Report
April 2011 the CIM compliant resource comprised 1.1 million ounces in Indicated resource category at 1.1 grams per tonne gold and 1.4 million ounces being in Inferred category at 0.9 grams per tonne gold. Of this resource 2.0 million ounces gold were from the main Tigranes and Artavasdes areas and the first estimate of 0.5 million ounces in Inferred resource category from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes.
| Date | Class | Tonnes (Mt) | Gold (g/t) | Gold (Moz) | Cut off (g/t) |
| March 2009 | Inferred | 31.0 | 1.0 | 1.00 | 0.4 |
| March 2010 | Inferred | 49.6 | 0.9 | 1.43 | 0.4 |
| April 2011 | Inferred | 48.3 | 0.9 | 1.40 | 0.4 |
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