tsx, tsx-v, goldtsx, silver, junior resource

Fresh Releases Lydian T.LYD | Majescor Resources V.MJX | Marathon Gold T.MOZ


October 22, 2012

gold, turkeyLydian reports Armenia Gold Assays up to 1.1 g/t over 92m

Lydian International Ltd T.LYD announced assays from its Amulsar gold project in Armenia. Highlights include:

1 gram per tonne gold over 55 metres
1.4 g/t gold over 46 metres
1 g/t gold over 55 meters
1 g/t gold over 94 metres
1 g/t gold over 20 metres
1 g/t gold over 13 metres
1 g/t gold over 28 metres
1.7 g/t gold over 18 metres
1.1 g/t gold over 92 metres
1 g/t gold over 83 metres
1 g/t gold over 20 metres
1 g/t gold over 14 metres
1 g/t gold over 26 metres
0.9 g/t gold over 122 metres
1 g/t gold over 25 metres
1 g/t gold over 59 metres
1 g/t gold over 45 metres
1 g/t gold over 20 metres
1.2 g/t gold over 28 metres

President/CEO Tim Coughlin commented, “This round of drill results clearly confirms that gold resources at the Amulsar project remain open laterally beyond the extents of the current pitshell and at depth below the pit. Infill drilling is already indicating that inferred category resources residing within the current feasibility study pitshell are likely to convert to reserves, thus immediately adding ounces and decreasing stripping ratio, which will in turn positively impact on the overall economics. This year infrastructure and support is being put in place to ensure that drilling will continue into the early winter. We intend to release a new inpit reserve and economic model in Q1 2013 and to provide a resource update soon after.”

According to a September 7 feasibility study, Amulsar contains proven and probable reserves of 2.26 million ounces gold at 0.8 g/t and 9.63 million ounces silver at 3.4 g/t. The study forecasts (at US$1,200-per-ounce gold) a net present value (NPV) of $646 million (at a 5% discount rate) an internal rate of return (IRR) of 27.7%, a 12-year mine life, a stripping ratio of 2.23:1, annual gold production for years one to three of 118,341 ounces and 186,047 ounces for years four to 12 at $468.5 per ounce and an initial CAPEX of $269.6 million.

Lucy Fowler
IR Manager
44.0.1534.715472 or 44.0.7797.738777

gold, hatiMajescor reports Haiti Gold Assays up to 3.23 g/t over 35.7m

Majescor Resources Inc V.MJX announced assay results from five drillholes at the Central Zone of its Faille B gold property in Haiti. Highlights include

3.23 g/t gold, 0.42 g/t silver, 0.06% copper over 35.65 metres
(including 67.97 g/t gold, 5.1 g/t silver, 0.22% copper over 1.65 metres)
2.9 g/t gold, 0.95 g/t silver, 0.14% copper over 17.5 metres
(including 10.12 g/t gold, 1.5 g/t silver, 0.22% copper over 3.9 metres)
0.58 g/t gold, 0.71 g/t silver, 0.11% copper over 20.15 metres
(including 15.71 g/t gold, 4.5 g/t silver, 0.44% copper over 0.4 metres)
9.93 g/t gold, 2.67 g/t silver, 0.16% copper over 4.5 metres
(including 29.51 g/t gold, 4.1 g/t silver, 0.04% copper over 1.5 metres)
1.94 g/t gold, 0.9 g/t silver, 0.11% copper over 11 metres
(including 12.19 g/t gold, 2.6 g/t silver, 0.24% copper over 1 metre)
10.97 g/t gold, 5.9 g/t silver, 1.49% copper over 1.95 metres

President/CEO Daniel Hachey commented, “The results of this initial round of drilling at the Central Zone not only confirm the presence of anomalous gold grades and significant intersections near-surface as reported by historical drilling, they show the potential for higher grades at depth past the 100-metre drillmark. Faille B will be a major focus for Majescor in 2013 as we expand the drilling to define a first NI 43-101 compliant resource estimate for the Central Zone while continuing the stepout drilling process in order to test the extensions of the mineralisation along strike and at depth. The Faille B gold prospect is situated along a major and virtually untested tectonic feature which extends 45 kilometres to the southeast well into neighbouring Dominican Republic, where it is host to recent gold discoveries by Unigold V.UGD and Goldquest V.GQC.”

Daniel Hachey

Marathon reports Nfld Gold Resource: 682K oz M&I, 145K oz inferred

Marathon Gold Corp T.MOZ announced October 22 an updated 43-101 resource estimate of its Leprechaun Gold Deposit, Valentine Lake Project, Newfoundland. Openpit resources are 8.17 million tonnes grading 2.14 g/t gold for 561,000 gold ounces measured and indicated and 900,000 tonnes grading 1.93 g/t for 56,000 gold ounces inferred (at a 0.5 g/t gold cutoff). Underground resources are 1.37 million tonnes grading 2.75 g/t gold for 121,000 gold ounces measured and indicated and 1.06 million tonnes grading 2.6 g/t for 89,000 ounces inferred (at a 1.5 g/t gold cutoff).

Total measured and indicated resources are 9.54 million tonnes grading 2.22 g/t gold for 682,000 gold ounces. Total inferred resources are 1.96 million tonnes grading 2.3 g/t for 145,000 ounces.

President/CEO Philip Walford commented, “This year’s drilling program was successful for Marathon as we not only achieved a 61% increase in the measured and indicated category as compared with the previous mineral resource estimate, but we now have a resource constrained by a pitshell and underground parameters at the Leprechaun Gold Deposit. This gives us a much better idea of how the deposit is evolving. The mineralization within the pitshell is very well defined and requires only minor additional drilling. The upcoming drilling program will now be focused on developing and upgrading resources below pit and expanding the openpit resource along strike. We will also be focusing on defining new deposits along strike of the current resource to the northeast and the southwest. The company’s mission has always been to generate value for its shareholders through building and expanding resources, and that is exactly what we have done.”

Phillip Walford

Jennie Guay
IR Manager

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