Amulsar and Jermuk, Armenia

BHA was retained by Lydian International Ltd. , a mining and exploration company traded on the Toronto Stock Exchange,  to assess the feasibility of developing a ski resort in Jermuk, Armenia in conjunction with their Mine Reclamation, Closure and Rehabilitation Plan (MRCRP) of the Amulsar Gold Project.  Mt. Amulsar is located south of the town of Jermuk and is currently a 2.5 million ounce gold resource with the potential to be substantially larger.  The gold is proposed to be extracted through an open-pit gold mine to begin work in 2014.  The potential exists to  integrate the open-pit mine at its end of life  through macro-sculpture techniques producing a skier experience unlike any other ski resort.  Preliminary findings indicate that Mt.Amulsar has the potential to be of equal capacity, size and scale of major ski resorts found elsewhere in Europe and North America.  The existing ski hill in Jermuk also has potential for expansion.  Through a phased expansion plan the two areas (Amulsar and Jermuk) have the potential to be linked, re-developing the industrial area as a world-class tourist destination.