Grayd Resource Corporation

Grayd Resource Corporation

January 19, 2010 09:00 ET

Grayd Extends Main Zone and Outlines Higher Grade Areas at the La India Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2010) - Grayd Resource Corporation (TSX VENTURE:GYD) today reported that all assay results from 2009 drilling in the Main Zone have now been received. Results have extended the boundaries to mineralization in the south part of the zone and outlined several areas with higher grades than previously interpreted. Highlights not reported previously include:

  • RC-09-508 - 62.5 m grading 1.97 g/t Au; including 16.8 m grading 4.15 g/t Au
  • DDH-09-71 - 73.0 m grading 1.30 g/t Au; including 22.5 m grading 3.27 g/t Au
  • DDH-09-67 - 71.0 m grading 1.09 g/t Au; including 6.0 m grading 6.08 g/t Au
  • DDH-09-93 - 60.4 m grading 1.53 g/t Au; including 28.6 m grading 2.09 g/t Au

A total of 6,000 metres were drilled in 59 reverse circulation (RC) and 37 diamond drill holes (DDH) in the period from September through December 2009 within and immediately adjacent to the two zones included in the February 2009 resource calculation. Holes were drilled to better define known higher grade structures and to test for other higher grade areas within the area of the current resource, as well as to test potential extensions to the resource. Of this drilling, 3,600 metres in 27 reverse circulation and 29 diamond drill holes were drilled in the Main Zone.

Marc Prefontaine, President and CEO of Grayd, stated: "We are very pleased with the results from 2009 drilling in the Main Zone. We have verified the geological model for the resource, extended mineralization and outlined a number of areas with higher grades than previously interpreted."

A new geological model is being constructed based on all drilling to date. Assays are expected shortly for drill holes designed to extend the North Zone. Once the new model in complete and all assays are received, a new resource will be calculated. It is anticipated that the new resource will be completed in the first quarter of 2010.

Two drills are currently working to define the recently discovered La India Zone (see news release dated November 12, 2009), and to test two large targets that have never been drilled before. The objective for the first quarter of this year is to drill several other high priority exploration targets in the 260 square kilometre project area.

A table describing the holes included in this release is given below. A complete list of all drill results is provided on the company's website at A drill hole location map is provided below and is also posted on the company's website.

To view the map accompanying this press release please click on the following link:





DDH-09-67 706850 3176565 71.7 321 -51 0 71 71 1.09
          including 0 6 6 6.08
DDH-09-71 706891 3176518 90.4 319 -60 0.4 73.4 73 1.30
          including 50.5 73 22.5 3.27
DDH-09-93 707341 3175552 66 316 -60 0.4 60.8 60.4 1.53
          including 8.0 36.6 28.6 2.09
RC-09-508 707085 3176041 71.63 090 -50 0 62.5 62.5 1.97
          including 38.1 54.9 16.8 4.15

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 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. 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 ounce 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.

Contact Information

  • Grayd Resource Corporation
    Marc A. Prefontaine
    President and CEO
    604-684-9877 (FAX)