Grayd Resource Corporation
TSX VENTURE : GYD

Grayd Resource Corporation

December 15, 2009 08:30 ET

Grayd Extends North Zone at La India

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) - Grayd Resource Corporation (TSX VENTURE:GYD) today reported a 25% strike length extension to gold mineralization within the North Zone at its wholly owned La India Project in Mexico. Assay results from four reverse circulation holes drilled to the northwest of holes used in the February 2008 resource all intersected near surface gold mineralization. Results included 45.7 metres grading 1.80 g/t Au, 38.1 metres grading 1.80 g/t Au and 13.7 metres grading 1.60 g/t Au.

The North Zone makes up approximately 40% of the total current resource on the property. In a press release dated June 16th, 2009, the Company announced that it had intersected gold mineralization in wide spaced holes up to 250 metres west of the resource. The recent results are from an ongoing drill program designed to confirm continuity of gold mineralization within this extension and to further test the northern and western extents to the zone.

Marc Prefontaine, President and CEO, of Grayd stated: "To intersect plus 1 g/t Au material over significant widths in this area is very positive. Drilling has added 200 metres of strike length to the area with higher grades in the North Zone. Assays are pending from a number of other holes drilled in a 400 metre by 200 metre area to the west of the 2008 resource and to the west of these most recent holes." 

The drill program at La India is ongoing with two drills currently working.

La India Project - North Zone Extension Reverse Circulation Holes

Hole Easting Northing From (m) To (m) Meters Au g/t
RC-09-520 706167 3179287 6.1 44.2 38.1 1.80
RC09-521 706103 3179304 6.1 19.8 13.7 1.60
RC09-522 706062 3179276 1.5 18.3 16.8 0.42
RC-09-523 706166 3179185 7.6 53.3 45.7 1.80

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. Maps showing the location of drill are posted on Grayd's website (www.grayd.com).

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 151,000 ounces of gold in 2008 and had a reported a resource of 4.75 million ounce of gold at the end of 2008.

Grayd Resource is a growth-oriented junior natural resource company focused primarily on identifying, exploring and developing precious metal deposits. The Company's Officers and Directors are very experienced in all aspects of mineral exploration, development and production and have been involved in a number of successful mining projects around the world over 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 Drill Map, please click on the following link: http://media3.marketwire.com/docs/DrillmapNR1215.pdf

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