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Lydian International Ltd.
Summary
| Project: | Amulsar | |
|---|---|---|
| Deposit: | Amulsar | |
| Location: | Armenia | |
| Commodities: | Gold-Silver | |
| Date: | 9/16/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-9-2019: Lydian International Ltd. announces a Feasibility Study report for its Amulsar deposit at the Amulsar project. Updated Feasibility Study results incl. post-tax NPV(5%) of US$362.6M, IRR of 14.9%. TORONTO, Ontario, September 16, 2019 – Lydian In | |
| Resources: | (Reserve, Total): 119.3Mt @ 0.74g/t Au, 3.8g/t Ag | |
| CP/QP: | [Resources]: David Keller (WGM Ltd.) | |
| ABSTRACT: | TORONTO, Ontario, September 16, 2019 – Lydian International Limited (TSX:LYD) (“Lydian” or the “Company”) is pleased to announce the results of an updated 43-101 Feasibility Study for its 100%- owned Amulsar Project in south-central Armenia. The results of the updated Feasibility Study show an increase in reserves from 102.6 million tonnes to 119.3 million tonnes to incorporate additional measured and indicated resources, and an increase of 192,000 oz. in recoverable gold. Following a change in the Government of Armenia (“GOA”) in May 2018, demonstrations and road blockades occurred sporadically throughout the country, including at the Amulsar Project. A continuous illegal blockade at Amulsar has been in place since June 2018, causing construction activities to be suspended since that date. On September 9th, 2019, after a year-long investigation by the GOA Investigative Committee involving three separate audits, Prime Minister Nikol Pashinyan stated that access to the Amulsar Project site should be restored, the protesters blocking access should open the roads and there is no legal basis on which the GOA can prevent Lydian from advancing the Amulsar Project. Edward Sellers, Lydian’s Interim President and CEO, commented at the time that “Lydian welcomes recognition from the Government of Armenia that there are no grounds to prevent Lydian from completing and operating the Amulsar Project. Lydian is looking forward to recovering and rebuilding its ability to complete construction and operate the Amulsar Project in accordance with its environmental performance standards.” | |
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