Grayd Reports 41 Metres Grading 2.5 g/t Au in the La India Zone
25 March 2010 - 11:30PM
Marketwired
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
--------------------------------------------------------------------------
RC-10-553 707619 3177236 105.16 090 -60 0.0 32.0 32.0 0.64
--------------------------------------------------------------------------
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
--------------------------------------------------------------------------
DDH-10-107 707181 3177645 61 311 -59 7.6 38.75 31.15 0.37
--------------------------------------------------------------------------
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.
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
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