Grayd Resource Corporation (TSX VENTURE:GYD) announces assay results from 28
reverse circulation holes (RC-08-316 to 343) drilled on its wholly owned La
India Gold Project located in the state of Sonora, Mexico. Highlights include
two drill intersections that show potential for significant expansion of the
resource to the west. RC-08-343 intersected 33.5 m grading 1.20 g/t Au 70 m west
of the January 2008 resource boundary and 180 m west of the last hole within the
resource model. RC-08-342 ended in 16.8 m grading 1.18 g/t Au, and was drilled
270 m southeast of RC-08-343.


Grayd's CEO, Marc Prefontaine, states: "These holes are very significant in that
they validate our geological modelling and demonstrate that the gold zone does
in fact continue to the west. These intersections now confirm the gold zone is
not contained to the current resource boundary, and opens up a large area for
further resource expansion."


Another highlight was RC-08-336 that ended in 47.3 m grading 1.24 g/t Au. This
is one of ten new holes drilled in the southeast part of the Viruela-La Cruz
area within a zone of near-surface oxide gold mineralization.


Results from this hole add potential for improving the grade in this area from
what was calculated in the current resource estimate. RC-08-336 intersected
silica-clay alteration, but also some silica structures on trend with the higher
grade La Cruz zone to the northeast. Further drilling is planned to follow-up on
this hole which ended up being abandoned due to drilling difficulties. Other
recent holes in the area verified the existence of wide-spread, potentially
economic, mineralization.


Nine of the holes reported herein were drilled in the Viruela zone as part of
the effort to bring this resource into the indicated category. Holes supported
previous interpretations. Seven holes were drilled on a potential extension of
the Cerro de Oro resource to the south. While well-altered rocks were
intersected, gold grades were relatively low.


Two drills are working on the project with the current priority being to expand
on and upgrade the January 2008 resource. Drilling within and adjacent to the
resource areas will be completed in August. Thereafter, drilling will focus on
new targets evolving from ongoing mapping and surface sampling.


A table of significant intercepts is given below. A map showing drill hole
locations is attached and also available at www.grayd.com.


To view the map attached to this release please click on the following link:
http://media3.marketwire.com/docs/0716gyd.pdf


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 and silver 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. 




La India Gold Project - Drill Summary

---------------------------------------------------------------------------
                                    Azi-     Length  From   To  Width    Au
Zone          Hole   East   North  muth  Dip     (m)   (m)  (m)    (m)  g/t
---------------------------------------------------------------------------

Viruela
 -West   RC-08-343 706322 3176328     0  -90  120.4  74.7 108.2  33.5  1.20

Viruela
 -West   RC-08-342 706505 3176058   225  -70  144.8 128.0 144.8  16.8  1.18

Viruela
 -LaCruz RC-08-341 706890 3176207   270  -50   68.6     0  18.3  18.3  0.38

Viruela                                                      no significant
 -LaCruz RC-08-340 706997 3176155     0  -90   50.3            intersection

Viruela
 -LaCruz RC-08-339 706961 3176208     0  -90   47.2     0  16.8  16.8  0.70

Viruela                                                      no significant
 -LaCruz RC-08-338 706367 3178071     0  -90   59.4            intersection

Viruela
 -LaCruz RC-08-337 706973 3176308     0  -90   86.9  50.3  74.7  24.4  0.68

Viruela
 -LaCruz RC-08-336 707049 3176023   315  -50   54.9   7.6  54.9  47.3  1.24

Viruela
 -LaCruz RC-08-335 707050 3175958     0  -90   59.4  18.3  44.2  25.9  0.28

Viruela
 -LaCruz RC-08-334 707050 3175958   135  -50   59.4  21.3  38.1  16.8  0.50

Viruela
 -LaCruz RC-08-333 707119 3175775   315  -50   71.6   1.5  16.8  15.3  0.35

Viruela
 -LaCruz RC-08-332 707029 3175563   270  -60   77.7   4.6  15.2  10.6  0.88

Cerro de
 Oro     RC-08-331 707083 3175533   180  -50   96.0  42.7  54.9  12.2  0.34

Cerro de
 Oro     RC-08-330 707063 3175567     0  -90   68.6  12.2  21.3   9.1  0.31

Cerro de
 Oro     RC-08-329 707090 3175491   267  -50   96.0     0  39.6  39.6  0.41

Cerro de
 Oro     RC-08-328 707156 3175462   212  -60   89.9  50.3  51.8   1.5  1.56

Cerro de
 Oro     RC-08-327 707090 3175496   225  -50   74.7   4.6   7.6   3.0  1.69

Cerro de
 Oro     RC-08-326 707123 3175478    90  -50   71.6  16.8  36.6  19.8  0.42

Cerro de
 Oro     RC-08-325 707123 3175423   135  -50   89.9   1.5     3   1.5  0.99

Viruela  RC-08-324 706773 3176345   180  -60   71.6   9.1  22.9  13.8  0.59

Viruela  RC-08-323 706775 3176348    93  -50   71.6   9.1  35.1  26.0  0.45

Viruela  RC-08-322 706748 3176307    90  -50  129.5   9.1  18.3   9.2  1.62

Viruela  RC-08-321 706727 3176535    90  -50   56.4          no significant
                                                               intersection

Viruela  RC-08-320 706673 3176384    90  -50   89.9     0  12.2  12.2  0.29

Viruela  RC-08-319 706752 3176534     0  -90   59.4     0  15.2  15.2  0.62

Viruela  RC-08-318 706852 3176370    90  -50   96.0  25.9  59.4  33.5  0.58

Viruela  RC-08-317 706857 3176371   270  -50  108.2   7.6  12.2   4.6  0.89

Viruela  RC-08-316 706959 3176409    90  -70   68.6  33.5  50.3  16.8  1.23
---------------------------------------------------------------------------



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.
Grayd Resource Corporation (TSXV:GYD)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Grayd Resource Corporation Charts.
Grayd Resource Corporation (TSXV:GYD)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Grayd Resource Corporation Charts.