Lydian gets good results in Kosovo

The Drazhnje project in Kosovo has yielded Lydian International (LYD-T) its best drill results yet and the market took notice.

The results come from an ongoing drill program at the St. Barbara area of Drazhnje.

Results were highlighted by:

• Drill Hole DDZ-048 13 metres grading 20.99% zinc, 7.09% lead, 0.53 grams gold and 25.33 grams silver per tonne.
• Drill Hole DDZ-054 9 metres grading 5.81% zinc, 1.32% lead, 0.5 grams gold and 6.5 grams silver per tonne.
• Drill Hole DDZ-051 4 metres at 3.18% zinc, 2.52% lead, 0.21 grams gold and 67.13 grams silver per tonne.
• Drill Hole DDZ-052 3 metres grading 11.38% zinc.

In Toronto on July 29th the company’s shares were up close to 15% or 5 to 35 on 30,000 shares traded. Its shares have traded between 30 and $1.35 over the last 52 weeks and it has roughly 40 million shares outstanding.

St. Barbara sits along-strike but outside of the historic resource at Drazhnje. Mineralization is shallow with the deepest intersects ending at 92 metres and the shallowest at just 6 metres.

Drilling is part of its 6,000 metre drill program that aims to better define the geometry of the deposit and to see if it is amenable to open-pit mining.

Lydian is also pushing ahead with the re-opening of historical underground drives at the St. George area which lies to the south of St. Barbara. The company says it has descended roughly 150 metres to-date, opening up underground exploration access for the first time in 20 years at the site.

Once re-opened the portal will allow for channel sampling of historically defined base-metal sulphide mineralization.

Lydian plans to convert the historical resource of the main orebody to JORC compliance by September.

Drazhnje lies in central Kosovo and has a historical Yugoslav resource of 4.7 million tonnes grading 4.9% zinc, 2.4% lead.

Beyond the main body, the project is made up of the Trpeza, St. Barbara and St. George — areas lying to the north of the historical resource.

Lydian is focused on Eastern Europe, exploring in the Balkan and Caucasus regions, while developing Drazhnje and a gold project in Armenia.

One of the two largest shareholders in the company is Newmont Mining (NMC-T, NEM-N) with which Lydian has a 50/50 joint venture with on exploration projects in the Balkans.