Grayd Reports Additional Higher Grade Intersections in North Zone at La India Gold Project, Initiates New Resource Calculation
26 Janvier 2010 - 2:30PM
Marketwired
Grayd Resource Corporation (TSX VENTURE: GYD) today reported that
all results from 2009 drilling have now been received and a new
resource calculation is in progress. Marc Prefontaine, President
and CEO of Grayd, stated, "During 2009 we successfully expanded the
North Zone to both the west and northwest at our La India gold
project in Mexico. We also outlined some areas with substantially
higher grades than the average grade for the zone in the current
resource. With all 2009 drill results now in hand, we will complete
our new resource calculation."
New drill result highlights in the North Zone that were not
previously reported include:
-- RC-09-538 50.3 m grading 1.62 g/t Au; including 10.7 m grading 3.81 g/t
Au
-- RC-09-541 33.5 m grading 2.09 g/t Au
-- DDH-09-96 35.0 m grading 1.62 g/t Au
-- DDH-09-99 47.0 m grading 1.05 g/t Au; including 5.8m grading 6.34 g/t Au
(i)Note that mineralization starts at or near surface in all four holes
A total of 6,000 metres were drilled in 59 reverse circulation
(RC) and 37 diamond drill holes (DDH) during the period September
through December 2009 within and immediately adjacent to the Main
Zone and North Zone, which will be included in the new resource
calculation. The Main Zone drill results were reported on January
19, 2010. During the period September through December 2009, a
total of 2,400 metres were drilled in the North Zone in 32 reverse
circulation (RC) and 8 diamond drill holes (DDH). The North Zone
holes were drilled to extend the zone to the west and northwest,
and to better define higher grade areas within the area of the
current resource. Highlights for RC holes up to RC-09-523 were
reported in Grayd's news release dated December 15, 2009. Three of
the holes reported herein are step-outs from the high grades
reported previously and help to confirm the tenor of mineralization
in the area. DDH-09-96 was drilled 300 metres to the south of these
holes.
The next phase of exploration is already underway, with two
drills working to define the La India Zone discovery that was
reported in November 2009, as well as to test two large targets
that have never been drill-tested. The objective for the first
quarter of this year is to complete these holes and then drill
several other high-priority exploration targets in the
260-square-kilometre project area.
A table describing the holes included in this release and a
drill hole location map are provided below. A complete list of all
2009 drilling is provided on Grayd's website www.grayd.com.
---------------------------------------------------------------------------
Depth From To Width Au
Hole E N (m) Az Dip (m) (m) (m) (g/t)
---------------------------------------------------------------------------
DDH-09-96 706250 3178902 73.55 091 -51 31.0 66.0 35.0 1.62
---------------------------------------------------------------------------
DDH-09-99 706186 3179334 53.35 135 -70 0 47.0 47.0 1.05
---------------------------------------------------------------------------
incl-
uding 40.0 45.8 5.8 6.34
---------------------------------------------------------------------------
RC-09-538 706150 3179224 77.72 090 -70 0 50.3 50.3 1.62
---------------------------------------------------------------------------
incl-
uding 36.6 47.2 10.7 3.81
---------------------------------------------------------------------------
RC-09-541 706176 3179251 44.2 090 -70 1.5 35.1 33.5 2.09
---------------------------------------------------------------------------
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 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. This same district hosts Alamos Gold Inc.'s
Mulatos Mine which produced 178,000 ounces of gold in 2009 and had
a reported a resource of 4.75 million ounce 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.
To view the map accompanying this release please click on the
following link: http://media3.marketwire.com/docs/0126gyd.pdf
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
Contacts: Grayd Resource Corporation Marc A. Prefontaine
President and CEO 604-681-7446 604-684-9877 (FAX) www.grayd.com
Grayd Resource Corporation (TSXV:GYD)
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