Grayd Reports 41 Metres Grading 2.5 g/t Au in the La India Zone
25 Marzo 2010 - 6:30AM
Marketwired Canada
Grayd Resource Corporation (TSX VENTURE:GYD) today reported results from 2010
drilling in the recently discovered La India Zone, highlighted by DDH-10-115
that intersected 41.0 metres grading 2.49 grams per tonne gold, including 23.5m
grading 4.08 g/t Au starting at surface.
Marc Prefontaine, President and CEO of Grayd, stated: "This drill hole is
significant because it has defined a potential higher grade feeder and indicates
expansion of the zone. Recent drilling has increased the size of the La India
Zone more than 5 fold; from an initial area 150m by 200m to the current area
750m by 200m-400m. One drill rig will follow-up on the recent drill
intersections in the La India Zone and expand the zone to the north. Later this
week, a second rig will start testing the Tubos Zone (a silica cap with similar
geology to the Main Zone), located 2 kilometres east of the Main Zone resource."
The La India Zone represents an area of mineralization between the previously
delineated Main and North zones on Grayd's 100% owned La India project.
Mineralization starts at surface and occurs along a hill side. A total of 1,500m
have been drilled in 14 diamond drill and 4 reverse circulation (RC) holes in
2010 within the La India Zone. The previously mentioned hole DDH-10-115 (41.0m
grading 2.49 g/t Au, including 23.5m grading 4.08 g/t Au) and DDH-10-109 that
intersected 9.0m grading 1.23 g/t Au are located at the top of the hill where
mineralization occurs within and directly below a silica cap. This is similar to
the style of mineralization common in the Main Zone resource area. Downhill from
the gold-bearing silica cap, gold mineralization occurs within an altered Dacite
porphyry intrusion. Grades in the porphyry, highlighted by RC-09-476 (86.9m
grading 1.05 g/t Au) and RC-09-479 (37m grading 1.12 g/t Au), reported in
November 2009, are now extended an additional 200m east by RC-10-553 which
intersected 32.0m grading 0.64 g/t Au starting at surface.
A table with drill intersections is included below and a map showing drill hole
locations and surface chip samples can be viewed by visiting the following link:
http://media3.marketwire.com/docs/gyd325m1.pdf.
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Depth From To Width Au
Hole E N (m) Az Dip (m) (m) (m) (g/t)
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RC-10-550 707550 3177315 150.88 270 -60 24.4 132.6 108.2 0.18
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including 54.9 74.7 19.8 0.33
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RC-10-551 707619 3177236 108.2 270 -60 0.0 108.2 108.2 0.16
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including 3.0 15.2 12.2 0.48
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RC-10-552 707550 3177315 172.21 090 -60 76.2 170.7 94.5 0.19
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RC-10-553 707619 3177236 105.16 090 -60 0.0 32.0 32.0 0.64
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DDH-10-103 707245 3177444 50.3 314 -59 13.25 15.4 2.15 0.51
--------------------------------------------------------------------------
DDH-10-104 707245 3177444 50.3 133 -60 4 12 8 0.45
--------------------------------------------------------------------------
DDH-10-105 707267 3177579 50.3 314 -60 3 5 2 0.63
--------------------------------------------------------------------------
DDH-10-106 707267 3177579 50.3 131 -60 3 5 2 0.5
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DDH-10-107 707181 3177645 61 311 -59 7.6 38.75 31.15 0.37
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DDH-10-108 707181 3177645 56.4 130 -60 13 32 19 0.36
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DDH-10-109 707117 3177669 76.25 314 -59 2 11 9 1.13
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DDH-10-110 707117 3177669 62.5 134 -61 0 14.35 14.35 0.36
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DDH-10-111 707614 3177383 100.65 270 -60 No significant
intersection
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DDH-10-112 707614 3177383 100.65 89 -61 No significant
intersection
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DDH-10-113 707416 3177303 152.5 271 -50 0 142 142 0.53
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including 0 81 81 0.75
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DDH-10-114 707313 3177250 50.3 91 -50 3.75 48 44.25 0.82
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including 3.75 29 25.25 1.13
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DDH-10-115 707485.5 3177507 67.1 224 -60 7 48 41 2.49
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including 12.2 35.7 23.5 4.08
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DDH-10-116 707488 3177507 42.7 43 -50 3 26 23 0.26
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The La India gold project is located in the prolific Mulatos gold belt of
Mexico's Sonora state. The project has a NI43-101 compliant gold resource
calculated in 2009 of 559,000 ounces grading 1.01 g/t in the indicated category
and 318,000 ounces grading 1.05 g/t in the inferred category, all at a 0.5 g/t
cut-off grade. The resource consists of 17.2 and 9.4 million tonnes of indicated
and inferred material, respectively. A new resource calculation is currently
being undertaken. This same district hosts Alamos Gold's Mulatos mine, which
produced 178,000 ounces of gold in 2009 and had a reported a resource of 4.75
million ounces of gold at the end of 2008.
Hans Smit, P.Geo., VP Exploration for Grayd, is the Qualified Person directing
the exploration at La India. Samples are sent to the ALS Chemex facility in
Hermosillo for sample preparation, and then to the ALS Chemex laboratory in
Vancouver for gold assay and ICP. QA/QC procedures used include assay standards
and blanks.
Grayd Resource is a growth-oriented junior natural resource company focused
primarily on exploring and developing a large land position in Mexico which is
highly prospective for gold mineralization. The Company's Officers and Directors
are experienced in all aspects of mineral exploration, development and
production and have been involved with several successful mining projects during
the past 20 years.
The information in this news release may contain forward-looking statements.
When used in this release, words such as "estimate", "expect", "anticipate" and
"believe" as well as similar expression are intended to identify forward-looking
statements. Such statements are used to describe management's future plans,
objects, and goals for the Company and therefore involve inherent risks and
uncertainties. The reader is cautioned that actual results, performance or
achievements may be materially different from those implied or expressed in such
statements, which speak only as of the date the statements were made. The
Company does not update forward-looking statements continually as conditions
change.
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