Grayd Resource Corporation (TSX VENTURE:GYD) announces results from recently
completed cyanide column leach tests on mineralized samples from its wholly
owned La India Gold Project located in the state of Sonora, Mexico. Test work
indicates that average gold recoveries of 78% should be achievable in a heap
leach processing operation if the rock is crushed to -12.5 to -50 mm (1/2 to 2
inch). These recoveries, combined with relatively low estimated cyanide and lime
consumptions, are very positive factors for potential project economics. An
estimated stripping ratio of 0.35:1 (waste to ore) based on the January 2008
inferred resource is another positive economic factor.


Thirteen column tests with material derived from 2007 core drilling were
conducted at Kappes, Cassiday & Associates (KCA) of Reno, Nevada. Tests were run
on seven composites of different rock types and gold grades. Six composites were
run at crush sizes of -50 mm and -12.5 mm. One composite, of high grade material
from the Cieneguita zone, was only run at -12.5 mm as there was insufficient
material to produce a -50 mm sample.


Recoveries for the -12.5 mm columns ranged from 62% to 94% and for the -50 mm
columns ranged from 46% to 90%. Average recoveries for the columns are 79% (-12
mm) and 69% (-50 mm, does not include a Cieneguita high-grade column). Three of
the -50 mm columns had about the same recovery as the -12.5 mm columns with an
average of 86% for the three columns. The other three composites had 15% higher
average gold recovery in the -12.5 mm over the -50 mm columns. The geological
model for the property is currently being revised. Preliminary interpretations
of rock type volumes in the deposit in conjunction with the column test results
indicate a weighted average recovery for all rock types in the deposit would be
78% in an operating heap leach operation based on crushing all the rock to -50
mm and half to -12.5 mm. Additional work to determine recoveries on run-of-mine
material will be undertaken on rock types with high recoveries at -50 mm.
Additional testing on higher grade material is also planned.


A preliminary evaluation of open pit potential was undertaken by Moose Mountain
Technical Services on the January 2008 inferred resource model. This work
determined that waste to ore ratios would be in the range of 0.2:1.0 to 0.35:1.0
depending upon gold price, recovery and mining costs.


Core and reverse circulation (RC) drilling are continuing on the site. Core will
be used to help create the new geological model, verify RC results and provide
material for additional metallurgy. Core drilling will be completed by mid
August. RC drilling to upgrade and expand the resource areas should be completed
in the first half of September. Drilling thereafter will evaluate new targets
derived from ongoing mapping and sampling. A new resource will be calculated in
the fourth quarter of 2008 incorporating the additional drilling and the new
geological model.


A summary table of column test results is attached. Maps showing resource areas
are posted on Grayd's website (www.grayd.com). Hans Smit, P.Geo., VP Exploration
for Grayd, is the Qualified Person directing the exploration at La India. Test
work at KCA was under the supervision of Terence Albert, Manager of Laboratory
Services and Daniel Kappes, P.Eng., Qualified Person for KCA. Jim Gray, P.Eng.
was the Qualified Person for the preliminary evaluation by Moose Mountain
Technical Services.




--------------------------------------------------------------------------
                               Weight-       Tail
           Aver-                   ed       Calcu-                    Addi-
            age  Calcu-           Avg.      lated                     tion
           Head  lated   Extr-   Tail         P80            Consum- Hyrdr-
Sample    Assay,  Head, acted, Screen, Extr-  Ore Crush  Days ption   ated
Identif-    gms    gms    gms     gms acted, Size, Size,   of  NaCN,  Lime,
ication   Au/MT  Au/MT  Au/MT   Au/MT  % Au    mm    mm Leach kg/MT  kg/MT
--------------------------------------------------------------------------
Silica     1.69   1.71   1.31    0.40   77% 43.45   -50   126  0.53   1.00
 Structure
 - La Cruz,
 Cerro de
 Oro
--------------------------------------------------------------------------
Silica     1.69   1.77   1.44    0.33   81%  8.90 -12.5   140  0.88   2.00
 Structure
 - La Cruz,
 Cerro de
 Oro
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Silica     0.48   0.51   0.46    0.05   90% 35.68   -50   126  2.43   2.26
 Clay -
 La Cruz
--------------------------------------------------------------------------
Silica     0.48   0.45   0.40    0.05   89%  7.72 -12.5   126  2.03   0.00
 Clay -
 La Cruz
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Dacite -   1.24   0.97   0.88    0.09   91% 37.08   -50   126  0.86   2.00
 SC/SA -
 Viruela
--------------------------------------------------------------------------
Dacite -   1.24   1.12   1.01    0.11   90%  7.96 -12.5   126  1.29   0.00
 SC/SA -
 Viruela
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Silica     1.15   1.06   0.49    0.57   46% 45.08   -50   126  0.64   1.00
 Massive
 - Viruela
--------------------------------------------------------------------------
Silica     1.15   0.98   0.70    0.28   71%  8.89 -12.5   126  0.78   1.00
 Massive
 - Viruela
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Andesite   2.45   2.27   1.27    1.00   56% 43.87   -50   126  0.68   1.00
 SA/SV
--------------------------------------------------------------------------
Andesite   2.45   2.35   1.54    0.81   66%  8.51 -12.5   126  1.03   3.00
 SA/SV
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Silica     0.40   0.39   0.20    0.19   51% 41.97   -50   126  0.57   1.00
 Massive -
 Cieneguita
--------------------------------------------------------------------------
Silica     0.40   0.40   0.25    0.15   62%  8.76 -12.5   140  1.03   2.00
 Massive -
 Cieneguita
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Cieneguita 9.00   9.01   8.46    0.55   94%  8.67 -12.5   126  3.22   3.03
 - High
 Grade
--------------------------------------------------------------------------



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.


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.