Lydian International Files NI 43-101 Technical Report for Amulsar Value Engineering and Optimization Study Demonstrating Initial Capital and Operating Cost Reductions
TORONTO, ONTARIO--(Marketwired - Nov. 25, 2015) - Lydian International Limited (TSX:LYD) ("Lydian" or "the Company") is pleased to announce that a National Instrument 43-101 Technical Report (the "Q4 2015 Technical Report") for its 100%-owned Amulsar Gold Project in south-central Armenia has been filed on SEDAR (www.sedar.com).
Results of the study demonstrate that initial capital costs will be reduced to $370 million. Operating cost improvements will also be realized, with all-in sustaining costs estimated to decrease from $701/oz of gold to $585/oz of gold produced. See the Company's news release dated November 19, 2015 (Lydian Announces Initial Capital and Operating Cost Reductions from the Amulsar Value Engineering and Optimization Study) for additional information.
The Company commissioned Samuel Engineering, Inc. ("Samuel") to review a number of engineering design concepts and incorporate the findings into the Q4 2015 Technical Report. The study was prepared in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves referred to in NI 43-101, and is a mining study for the purposes of NI 43-101.
The scientific and technical information in this news release has been reviewed and approved by Matt Bender, P.E., who is a "qualified person" for the purposes of NI 43-101. For further information with respect to the key assumptions, parameters, risks, the mineral reserve estimate and other technical information with respect to the Amulsar Gold Project, please refer to the Q4 2015 Technical Report available at www.sedar.com. The following qualified persons, as that term is defined in NI 43-101, have prepared or supervised the preparation of their relevant portions of the technical information in this news release and the related Q4 2015 Technical Report:
Qualified Persons | Company |
Matt Bender, P.E. | Samuel Engineering |
G. David Keller, P. Geo. | AMC Consultants |
Neil Prenn, P.E. | Mine Development Associates |
Charlie Khoury, P.E. | Samuel Engineering |
Larry Breckenridge, P.E. | Global Resource Engineering |
Rick Kiel, P.E. | Golder Associates |
About Lydian International Limited