Grayd Resource Corporation
TSX VENTURE : GYD

Grayd Resource Corporation

June 16, 2009 09:00 ET

Grayd Expands North Gold Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2009) - Grayd Resource Corporation (TSX VENTURE:GYD) is pleased to report that this year's drill program at the La India property has extended mineralization over 250 m to the west of the current North Zone resource - more than doubling the width of the zone.

New drilling has confirmed the down dip extension of the Cieneguita zone. The Cieneguita zone, (February 2009 resource reported as 4.3 Mt grading 0.7 g/t Au for 98,000 oz gold Indicated and, 4.1 Mt grading 1.0 g/t for 131,000 oz gold Inferred using a 0.4 g/t Au cut-off), is part of the North Zone resource area. Gold mineralization in the North Zone is shallow (low strip ratio) and almost entirely oxide. The new intersections are hosted by the same silicified unit and the immediate footwall as seen in previous Cieneguita intercepts and show similar grades and thickness, including RC-09-444 (42.7 m grading 0.52 g/t Au) and RC-09-443 (25.9 m grading 0.70 g/t Au).

A total of 1,096 m of drilling in 13 reverse circulation (RC) holes are reported herein (RC-09-436 through RC-09-448). All were drilled in the Cieneguita portion of the North Zone, except RC-09-439 which was drilled in the Viruela area of the Main Zone (41.1 m grading 0.77 g/t Au including 12.2 m grading 1.35 g/t Au).

Drilling will now target extensions to the Main Zone, starting at Nopal which is located from 300m to 1100m west of the current Main Zone resource. Surface geology in the area indicates potential for gold mineralization in a similar geological setting. Subsequent to this, the Tubos Zone located 2 km to the east of the Main Zone will be drill tested for the first time. At Tubos, 25 surface samples were collected from hydrothermally altered dacite tuff above the massive silica horizon over a 600 by 300 m area. Of these samples, 13 assayed greater than 0.3 g/t Au and 2 had more than 1 g/t Au. The stratigraphy at Tubos is identical to the volcanic sections that host the gold deposits in the Main and North zones and the presence of gold in the upper part of the section is considered very favourable for exploration.

Grayd's 100% owned La India gold project, located in Sonora Mexico, hosts a NI43-101 compliant gold resource totaling 559,000 oz Indicated and 318,000 oz Inferred, with excellent exploration potential to increase. (Resource is comprised of Indicated: 17.2 mT grading 1.01 g/t Au and Inferred: 9.4 mT grading 1.05 g/t Au using a 0.5 g/t Au cut-off). The Company is evaluating the potential to develop an open pit mine and heap leach extraction facility as well as competing a large exploration drill program to find more resources on the 250 sq Km property.



India Gold Project - Drill Summary
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Length From To Width Au
Zone Hole East North Az Dip (m) (m) (m) (m) g/t
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Cieneguita RC-09-448 706017 3178572 0 -90 102.10 91.4 97.5 6.1 0.66
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Cieneguita RC-09-447 705727 3179272 0 -90 147.83 16.8 38.1 21.3 0.50
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Cieneguita RC-09-446 705900 3178928 0 -90 117.35 no significant
intersection
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Cieneguita RC-09-445 705933 3179108 0 -90 111.26 0 16.7 16.7 0.64
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80.8 93.0 12.2 0.69
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Cieneguita RC-09-444 705929 3179185 90 -60 71.63 0 42.7 42.7 0.52
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Cieneguita RC-09-443 705968 3179255 0 -90 38.10 1.5 27.4 25.9 0.7
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Cieneguita RC-09-442 705948 3179343 0 -90 83.82 19.8 22.9 3.1 0.43
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Cieneguita RC-09-441 706008 3178852 90 -70 132.59 94.5 115.8 21.3 0.47
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Cieneguita RC-09-440 706098 3179018 90 -70 30.48 7.6 12.2 4.6 0.6
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Viruela RC-09-439 706971 3176447 135 -75 91.44 38.1 79.2 41.1 0.77
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including 67.1 79.2 12.2 1.35
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Cieneguita RC-09-438 706043 3179068 90 -60 60.96 1.5 4.6 3.1 0.56
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Cieneguita RC-09-437 706062 3179323 90 -60 47.24 0.0 9.1 9.1 0.52
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Cieneguita RC-09-436 706157 3179144 90 -60 60.96 39.6 45.7 6.1 1.88
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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.

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 accompanying map, please click on the following link: http://media3.marketwire.com/docs/GYDmap616.jpg

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Grayd Resource Corporation
    Marc A. Prefontaine
    President and CEO
    604-681-7446
    604-684-9877 (FAX)
    www.grayd.com