Alaverdi is a city in Northern Armenia. The largest city in the Debed Canyon of Lori, an area rich with historical monuments and natural beauty, Alaverdi is your best bet for refueling, getting supplies or finding other things you'd expect in a town. The town itself has little to offer of historic value, save for the beautiful old foot bridge, since it was built as a mining town, a fact which you won't be able to miss as you go past the massive mining works. The mine once wreaked massive environmental damage, which stopped for a while with the collapse of the USSR, but now it has restarted, albeit on a much smaller scale. You can drive to the Sarahart suburb, which is on top of the canyon cliffs, or you can walk up the ancient foot path which is past the aforementioned bridge. The funnest, and perhaps most dangerous option though is the funicular, which takes the miners to and from work. Sarahart is adjacent to Sanahin Village, with the famous monastery, and the museum to the Migoyan brothers, with their extraordinary accomplishments of worldwide significance.
Although accommodation options are somewhat limited, making the decision to stay a few nights in the area will allow you to much better appreciate and explore what Armenia has to offer, without sitting in a car all day back and forth from Yerevan.
Minibus/vans from Vanadzor depart daily, and almost all transport to and from Tblisi passes through this town. There are taxis and transport to other parts of the country as well.
Taxi, foot, funicular.