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Share Name | Share Symbol | Market | Type |
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Grayd Resource Corporation | TSXV:GYD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Grayd Resource Corporation (TSX VENTURE:GYD) announces assay results from nine reverse circulation holes drilled in the Espanola zone on its wholly owned La India Gold Project located in the state of Sonora, Mexico. Highlights include RC08-285 with 30.5 m grading 1.63 g/t Au and RC08-289 with 36.6 m grading 1.18 g/t Au. The Espanola zone, which was not included in the January 2008 resource, is located 200 m east of the Cieneguita zone resource. As at Cieneguita, mineralization starts at or near surface in most holes and is oxide. The 2008 holes and five previous holes in Espanola show that mineralization is similar to Cieneguita, with gold within and just below a shallow dipping silica altered zone. Espanola has now been drilled with wide spaced holes over a 400 by 250 m area. Additional drilling will be undertaken to increase intercept density to facilitate a resource calculation. A table of significant intercepts is given below. A map showing drill hole locations is attached and also available at www.grayd.com. La India Gold Project - Drill Summary --------------------------------------------------------------------------- LENGTH FROM TO WIDTH AU HOLE EAST NORTH AZ DIP (M) (M) (M) (M) G/T --------------------------------------------------------------------------- RC-08-292 706792 3178555 0 -90 44.2 0 12.19 12.2 1.20 --------------------------------------------------------------------------- RC-08-291 706736 3178695 270 -50 39.6 6.1 27.43 21.3 0.81 --------------------------------------------------------------------------- RC-08-290 706744 3178693 90 -70 73.2 27.43 32 4.6 1.09 --------------------------------------------------------------------------- RC-08-289 706704 3178760 270 -60 91.4 0 36.58 36.6 1.18 --------------------------------------------------------------------------- RC-08-288 706783 3178785 90 -70 71.6 6.1 12.19 6.1 0.65 --------------------------------------------------------------------------- RC-08-287 706741 3178815 90 -70 44.2 no significant intersection --------------------------------------------------------------------------- RC-08-286 706702 3178941 90 -70 41.1 1.5 7.6 6.1 1.22 --------------------------------------------------------------------------- RC-08-285 706696 3178907 0 -90 41.1 0 30.48 30.5 1.63 --------------------------------------------------------------------------- RC-08-284 706671 3178861 90 -70 30.5 0 12.19 12.2 1.11 --------------------------------------------------------------------------- A 12,000 metre drill program is ongoing. The objective of the current program is to upgrade the gold grade in the current resource, expand the zones, drill test areas in close proximity to the resource so that they can be included in the next resource calculation and to drill test several early stage targets that are currently being advanced with surface exploration work. Grayd Resource is sufficiently funded to carry out this work and bring the La India Project through the scoping level study stage. 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, Mexico for sample preparation, and then to the ALS Chemex laboratory in Vancouver, British Columbia 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 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. To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/0414gyd.pdf
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