Lydian International Ltd. (LYD.TO) announced an independent updated mineral resource estimate for its Amulsar gold project in Armenia.
At a cut-off grade of 0.35 grams per tonne gold, the mineral resources are estimated at 52.4 Mt at 1.05 g/t Au (1.77 million ounces) of Measured category resources, 18.1 Mt at 1.02 g/t Au (0.59 million ounces) of Indicated category resources and 58.0 Mt at 0.93 g/t Au (1.73 million ounces) of Inferred category resources from the contiguous Tigranes, Artavasdes, Arshak areas and from the Erato area.
LYD rose nearly 4% to $1.62, trading close to 52-week low $1.51.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
