Grayd Resource Corporation

Grayd Resource Corporation

May 19, 2009 14:18 ET

Grayd Reports High-Grade Gold Structures

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2009) - Grayd Resource Corporation (TSX VENTURE:GYD) is pleased to provide an update on the 2009 drilling program in progress on its 100% owned La India gold project located in the state of Sonora, Mexico. The highlight of recent drilling was hole RC-09-432 that intersected 89.9 m grading 4.26 g/t Au (uncut) of oxide mineralization within the Viruela area of the Main Zone.

A total of 2,121 m of drilling in 16 reverse circulation (RC) holes are reported herein (RC-09-420 through RC-09-435). The majority of holes were drilled within and to the west of the Main Zone area of the February 2009 resource estimate. RC-09-431 and 432 were drilled within the Viruela portion of the Main Zone resource to better define structurally controlled high grade mineralization. Grayd believes that the current resource, which is based mainly on east-west holes in Viruela, may underestimate the gold contained within northeast striking, steeply dipping feeder structures. RC-09-431 intersected 27.5 m grading 2.10 g/t Au. RC-09-432 intersected 89.9 m grading 4.26 g/t Au, including 19.8 m grading 16.3 g/t Au (If the grade of a 1.5 m interval grading 135.0 g/t Au is cut to the next highest assay of 24.7 g/t Au, the intersection averages 89.9 m grading 2.39 g/t Au, including 19.8m grading 7.80 g/t Au). This intersection is comprised of an upper zone of shallowly dipping mineralized rocks (29.0 m averaging 0.81 g/t Au) and an intersection diagonally across a funnel shaped sub-vertical high grade structure (60.9 m grading 5.90 g/t Au or 3.15 g/t Au if cut). Based on the current interpretation, the portion of the intersection in the structure has a true width of approximately 21 m (See attached figure). Both holes confirm the geological model upon which the February 2009 resource is based. However, both holes intersected considerably higher grade mineralization than the grade of the resource blocks in the area around the holes. The Company plans to drill more holes targeted on the high grade structures due to the potential positive impact on overall grade of the resource.

Holes RC-09-420 through 430 and RC-09-433 were drilled within areas of inferred resource on the west side of Viruela and further to the west to test for potential expansions to the resource. Results including RC-09-420 (30.5 m grading 0.55 g/t Au) and RC-09-427 (32.0 m grading 0.87 g/t Au) confirm that gold mineralization is continuous on the west side of the resource. Holes further to the west show that permissive geology and alteration continue, however gold mineralization is deeper and unlikely to be economic in this area. Surface exploration indicates that the permissive gold horizon may be closer to the surface further to the west of the area currently drilled in the Nopal zone. Drilling in Nopal is planned in June.

RC-09-434 and 435 were drilled in a proposed heap leach pad site in the north part of the property. Anomalous but low gold grades were intersected within altered pyritic rocks. Further testing in other areas of the proposed pad will be required to confirm there is no potential for ore under the pad. Abundant water intersected at shallow depth in RC-09-435 is good indication that ground water can be used for any potential production.

Drilling is currently being undertaken in the Cieneguita area, testing the potential to extend the North Zone resource westward. Surface geology indicates potential to extend the zone 300 to 400 m westward to the bottom of the valley on the Rumorosa claim which was acquired last September.

La India Gold Project - Drill Summary 2009

Zone Hole East North Az Dip Length(m)
CE RC-09-438 706043 3179068 90 -60 61.0
CE RC-09-437 706062 3179323 90 -60 47.2
CE RC-09-436 706157 3179144 90 -60 61.0
CE RC-09-435 705884 3178408 0 -90 35.1
CE RC-09-434 705895 3178220 0 -90 35.1
CO RC-09-433 706753 3175670 0 -90 118.9
VR RC-09-432 706882 3176606 135 -70 117.4

VR RC-09-431 707063 3176498 315 -64 91.4
VRW RC-09-430 706336 3176407 87 -50 121.9
VRW RC-09-429 706239 3176037 0 -90 291.1
VRW RC-09-428 706067 3176139 225 -65 214.9
VRW RC-09-427 706424 3176161 90 -50 138.7
VRW RC-09-426 706306 3176223 0 -90 214.9
VRW RC-09-425 706671 3176009 135 -62 126.5
VRW RC-09-424 706646 3176067 0 -90 138.7
VRW RC-09-423 706197 3176338 0 -90 65.5
VRW RC-09-422 706320 3176525 115 -60 89.9
VRW RC-09-421 706325 3176525 290 -60 65.5
VRW RC-09-420 706338 3176425 0 -90 86.9

Zone Hole From(m) To(m) Width(m) Au g/t Comments
CE RC-09-438 1.5 15.2 13.7 0.27
CE RC-09-437 0.0 9.1 9.1 0.52
CE RC-09-436 38.1 47.2 9.1 1.32
CE RC-09-435 no significant intersection
CE RC-09-434 no significant intersection
CO RC-09-433 51.8 65.5 13.7 0.40
VR RC-09-432 0.0 89.9 89.9 4.26
48.8 68.6 19.8 16.29
0.0 93.0 93.0 2.39 135 g/t cut to 24.7 g/t
48.8 68.6 19.8 7.80 135 g/t cut to 24.7 g/t
VR RC-09-431 21.3 48.8 27.5 2.10
VRW RC-09-430 25.9 29.0 3.1 1.32
VRW RC-09-429 no significant intersection
VRW RC-09-428 no significant intersection
VRW RC-09-427 79.2 111.2 32.0 0.87
91.4 109.7 18.3 1.12
VRW RC-09-426 no significant intersection
VRW RC-09-425 no significant intersection
VRW RC-09-424 89.9 105.2 15.2 0.37
VRW RC-09-423 no significant intersection hole abandoned
VRW RC-09-422 12.2 47.2 35.0 0.32
VRW RC-09-421 18.3 25.9 7.6 0.82
VRW RC-09-420 27.4 57.9 30.5 0.55

A map showing drill hole locations is posted on Grayd's website ( 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 the map accompanying the release please click on the following link:

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)