Grayd Resource Corporation
TSX VENTURE : GYD

Grayd Resource Corporation

September 19, 2007 09:00 ET

Grayd Reports Additional Drill Results From La India Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2007) - Grayd Resource Corporation (TSX VENTURE:GYD) is pleased to provide an update on exploration on its 100% owned La India Gold Project, Sonora State, Mexico. Reverse Circulation (RC) drilling and diamond drilling is ongoing. A total of 12,500 metres of RC drilling has been completed in 2007 to date. Results for an additional 14 RC holes totalling 1,666 m have been received (RC07-207 - 220). These holes were drilled in the Viruela-La Cruz area. Highlights include two holes in the Viruela zone, RC07-214 that intersected 44.2 m grading 1.12 g/t Au and RC07-216 that intersected 45.7 m grading 1.86 g/t Au in the northern part of the zone. In this area, mineralization starts at surface; highest grades (1 to +3 g/t Au) are where a series of northeast striking structures cut favourable stratigraphic horizons. Peripheral to these areas, lower gold grades (less than 1.0 g/t Au) are encountered, resulting in an overall average grade in the range of 1 to 1.2 g/t Au. Mineralization is oxide and appears to be amenable to open pit mining methods.

RC07-220 intersected 42.7 m grading 0.52 g/t, starting at surface, in the eastern margin of the Viruela zone. The hole also intersected a lower zone of massive silica-alunite alteration at depth from 200 m to 274 m. While gold grades were low, (0.03 to 0.15 g/t Au), the intersection of a deeper gold-bearing and horizon is very positive as it demonstrates stacked mineralizing systems, and thus increases the exploration potential of the entire area. New geological interpretations based on the drill core indicate that the Viruela and La Cruz zones, though located adjacent to each other, occur at different stratigraphic levels. This is further evidence that mineralization occurred at different levels in the high-sulphidation system and that there is potential for stacked gold zones.

One hole, RC07-209, was drilled in the La Cruz zone, testing for extensions to the southwest of the high grade zone encountered in previous holes. It intersected 100.6 m grading 0.45 g/t Au. While lower grade, the intersection demonstrates a strong mineralizing system, and further holes are planned to explore for the projected continuation of the La Cruz zone to the southwest.

In addition to the RC drilling, approximately 1,600 m of the planned 2,100 m HQ diameter core drill program has been completed. Most holes are being drilled as twins of RC holes to get better geological information and to provide a second method of sampling. Core holes will also provide samples for column leach metallurgical testing from across the different zones on the property. Most holes are being drilled HQ size (63.5 mm diameter), but one hole will be drilled PQ (85 mm) to allow leach column testing of large diameter material. Most of the 1000 by 1,400 m area of the Viruela-La Cruz-Cero de Oro zones has now been drilled at sufficient density to allow an inferred resource to be calculated. New topography will be generated to aid in calculating volumes.

At the same time as this advanced work is being undertaken, exploration will target extensions to the known zones and other areas of gold mineralization on the property which have received little work to date. Follow-up is also planned on Tarachi, a 1,553 hectare property covering a high sulphidation system 1.5 km north of the La India claim boundary.

A summary of the most recent drill intercepts is provided in the table below and drill plan map attached (to view this map please click on: http://www.ccnmatthews.com/docs/gyd0919map.pdf). The drill plan map is also posted on the Company's website at www.grayd.com.



La India Project - Drill Summary

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Coordinates Length Feet Metres
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Zone Hole East North Az Dip (m) From To From To Width g/t
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Vir- RC-07- 706712 3176586 043 -55 59.4 no significant intersection
uela 207
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Vir- RC-07- 706914 3176268 268 -55 47.2 0 55 0.0 16.8 16.8 0.46
uela 208
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La RC-07- 707024 3176181 133 -60 169.2 225 555 68.6 169.2 100.6 0.45
Cruz 209
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Vir- RC-07- 707100 3176499 0 -90 263.7 no significant intersection
uela 210
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Vir- RC-07- 707029 3176519 0 -90 150.9 20 90 6.1 27.4 21.3 0.77
uela 211
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Vir- RC-07- 706985 3176559 268 -50 150.9 0 205 0.0 62.5 62.5 0.37
uela 212
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Vir- RC-07- 706949 3176521 0 -90 132.6 100 135 30.5 41.1 10.7 0.62
uela 213
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Vir- RC-07- 706801 3176620 088 -50 71.6 0 145 0.0 44.2 44.2 1.12
uela 214
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Vir- RC-07- 706807 3176622 265 -60 71.6 0 170 0.0 51.8 51.8 0.41
uela 215
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Vir- RC-07- 706793 3176586 0 -90 77.7 0 150 0.0 45.7 45.7 1.86
uela 216
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incl- 115 150 35.1 45.7 10.7 6.30
uding
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Vir- RC-07- 706936 3176476 269 -50 74.7 175 195 53.3 59.4 6.1 0.93
uela 217
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Vir- RC-07- 706732 3176453 267 -51 71.6 160 175 48.8 53.3 4.6 2.30
uela 218
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Vir- RC-07- 706791 3176402 178 -67 50.3 75 80 22.9 24.4 1.5 1.38
uela 219
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Vir- RC-07- 707043 3176557 0 -90 274.3 0 140 0.0 42.7 42.7 0.52
uela 220
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incl- 95 135 29.0 41.1 12.2 1.16
uding
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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 very experienced in all aspects of mineral exploration, development and production and have been involved with several successful mining projects 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 expressions 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
    Hayley McGowan
    Investor Relations
    (604) 681-7446
    (604) 684-9877 (FAX)
    Website: www.grayd.com