Ed Monton
20 years ago
Grayd Resource Receives Additional Assay Results from La
India Project, Mexico
GYD
VANCOUVER, BRITISH COLUMBIA--Grayd Resource Corporation (TSX-V:
GYD) announces that it has received further assay results from
surface sampling on its La India project in Mexico. Prospecting
and reconnaissance mapping have identified several new gold
showings. In combination with the previously known gold zones,
the La India project now covers an exploration target that
extends for 9.5 km along the regional strike (northwest -
southeast).
Preliminary sampling returned high gold and silver values from
the three newly discovered zones on the Triple A claim that were
described in a press release on February 19, 2004. Results from
sampling on the Alamillios, Pinosa, and Puertos zones are as
follows:
The Alamillios zone contains an east west to northwest trending
zone of alteration, veining and mineralization associated with an
intrusion. Results from chip samples taken along road exposures
returned a length-weighted average of 3.61 g/t Au and 58 g/t Ag
over an interpreted true width of 16 m. Within this sampling
sequence is a 4 m wide interval grading 7.1 g/t Au and 190 g/t
Ag. A grab sample of altered float collected 250 m southeast of
the road exposures assayed 6.63 g/t Au. The altered and
mineralized zone has been traced for 300 m along strike and
appears to have average widths ranging from 30 to 60 m. The zone
occurs in an area of gentle topography with bedrock exposure
primarily limited to recent road cuts. The zone remains open to
the southeast, and the large intrusive body remains largely
unexplored.
The Puertos zone contains high-sulphidation style alteration and
mineralization similar to that at the Cieneguita and Espanola
zones on the La India claim block. At Puertos, large zones of
northeast and northwest trending vuggy and massive silicification
are up to 1200 m long and 20 to 100 m wide. Eleven grab and chip
samples were taken from the zone and all but one returned
anomalous gold values (0.016 to 0.307 g/t Au, plus one high-grade
sample). A grab sample from a 20 m wide zone of massive and vuggy
silica returned a value of 23.2 g/t Au. This sample highlights
the potential for high-grade mineralization within the very large
alteration zone at Puertos.
Pinosa is a zone of alteration and mineralization associated with
an intrusion that extends over a 2.5 km by 1 km area. In the
southern portion of Pinosa, numerous small prospect pits occur
within a 150 m long by 30 m wide area. The prospect pits occur
along an east-southeast trend, however, the zone is mainly
covered and the length, width, and controls on mineralization and
alteration remain poorly understood. Three samples were taken
from this zone. All contain elevated Au and silver values,
ranging from 0.167 to 4.36 g/t Au and 81.3 to 298 g/t Ag.
More detailed sampling to follow up on the high grade results is
planned to commence in early April. Only about half of the Triple
A claim has been prospected to date, and there remains excellent
potential for additional discoveries on the claim block. Grayd
Resource is also in the process of permitting a trenching and
drilling program.
The La India Project is comprised of three partially contiguous
claims (La India, La India 1 and Triple A) covering 7,068
hectares in which Grayd Resource has the right to acquire a 100%
interest. Exploration is being undertaken under the supervision
of Dr. Shane Ebert, P.Geo., an independent Qualified Person under
National Standard 43-101 and Mr. Hans Smit, P.Geo., Vice
President Exploration. Samples were delivered to the ALS Chemex
facility in Hermosillo for sample preparation and were then sent
to the ALS Chemex laboratory in Vancouver for analysis.
Grayd Resource Corporation is a natural resource company engaged
in the acquisition, exploration and development of mineral
resource properties. It has a gold project in Mexico, a gold
enriched base metal project in Alaska and a copper - gold project
in British Columbia. Visit our website at www.grayd.com for the
latest corporate information or contact Investor Relations at
604-681-7446.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Grayd Resource Corporation
Marc A. Prefontaine, M.Sc., P. Geo.
President and Chief Executive Officer
(604) 681-7446
(604) 684-9877 (FAX)
Email: info@grayd.com
Website: www.grayd.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Ed Monton
20 years ago
Post from Stockhouse:
http://www.stockhouse.ca/bullboards/viewmessage.asp?no=7410827&t=0&all=0&TableID=1
Management
Earlier this year, Marc Prefontaine became President of Grayd. Marc was formerly Hunter-Dickinson's project manager for their Anooraq Resources (v-ARQ) which recently discovered a large platinum resource in S. Africa.
The former president of Grayd Resources was John McCluskey who became President of Alamos Gold (v-AGI). Alamos is developing a large gold deposit near Grayd's property. McCluskey is still a director of Grayd and a very large shareholder.
The above is important to grasp when considering Grayd's most important property which is La India 1 and 2 located near the Alamos Gold deposit in Mexico. My hunch is this is the Mexican connection that drew Grayd to Mexico.
Prefontaine has been aggressive. He dropped marginal properties. Money has been raised. He added his friend John Robins (who created the Northern Empire - Stornoway diamond project) to the board. Exploration work is now underway.
The Properties
The key property is La India. This property is located next to Chesapeake Gold's (v-CKG) highly rated La Juliana property which has not been drilled. La Juliana is located next to the Alamos Gold property where a large gold deposit is currently being outlined.
Grayd's La India has never been drilled. It's an early stage project. Preliminary sampling showed areas with visible gold. To see location maps, check Grayd's website at http://www.grayd.com
Grayd currently have 3 geos and a sampling crew at work. This work started several weeks ago. It involves geological mapping, trenching and sampling. Prefontaine does not want to issue selected results. Instead he will issue more comprehensive reports - the first one likely in the first week of March. Objective is to have the property drill ready by April/May.
The Markets
Last week the stock caught fire. It traded a heavy 2.9 million shares. That's high volume for a previous sleeper.
Like you I've heard CKG people own a lot of shares. However, I heard that over a month ago and the info is second hand. FWIW I believe there is likely interaction between GYD, CKG and AGI people. Makes sense as they have a lot in common and their properties are only a few kms. apart. I'm guessing people within these companies sparked trading volume as they monitor Grayd's exploration progress.
Last you ask what's the upside potential? Obviously it could be very high. Perhaps a better question is what is the risk:reward ratio? At this point I see risk as low with potential reward very high. That makes GYD still a buy in my book - specially on any weakness. Naturally that's opinion and fwiw.
Hope the above helps.
Bob
Ed Monton
20 years ago
Grayd Resource Commences Exploration at La India
VANCOUVER, BRITISH COLUMBIA--Grayd Resource Corporation (TSX
Venture: GYD) announces that exploration work has commenced on
its La India high sulphidation gold project in the Mulatos Belt,
Sonora, Mexico.
The La India Project is comprised of three partially contiguous
claims (La India, La India 1 and Triple A) covering 7,068 hectare
in which Grayd Resource has the right to acquire a 100% interest.
La India covers the western end of a large hydrothermal
alteration system that is characterized by zones of intense
argillic alteration, silicification and by the widespread
occurrence of gold. Three zones of epithermal style gold
mineralization have already been identified on the property,
specifically on the La India claim. The Triple A claim covers a
large area of favorable geology underlain by the same volcanic
rock sequences that host most of the known deposits in the
Mulatos area. The southern claim boundary of Triple A adjoins
part of Alamos Gold Corporation's Salamandra property and part of
Chesapeake Gold Corporation's Juliana property.
A program including geological mapping, prospecting, sampling and
hand trenching will be completed over the next four weeks.
Exploration work is designed to further assess the three known
zones of gold mineralization, follow-up on showings that have
seen little exploration work and prospect for new mineralization
within the three claim blocks making up the extensive project
area. Grayd Resource intends to advance the project to the
drilling stage by May 2004.
Initially crews will focus on the three known gold zones which
are located on the La India claim:
1. The La India zone is marked by classic high-sulphidation style
gold mineralization over a 1000-by-600 metre area. Argillically
altered intrusive rock (a rhyodacite dome) is exposed at lower
elevations while vuggy silica occurs above the argillic
alteration and pervasive silicification is found on the ridge
tops. A total of nine grab samples collected from the face and
walls of three short adits driven into the altered intrusive
returned from 0.77 g/t to 6.87 g/t Au with a mean of 3.82 g/t Au
(six of the samples returned greater than 3 g/t Au and four of
these greater than 5 g/t Au). An additional 55 samples were
collected from altered rock and small structures - mostly in the
pervasive silicification level above the intrusion. All but one
of the samples returned anomalous gold values. Grayd Resource
believes that this indicates potential for mineralization with
higher gold grades below the silicification.
2. The La Espanola zone is marked by intense silicification with
anomalous gold values over a 500-by-700 metre area. Thus far,
three gold-bearing structures and one zone of gold-bearing vuggy
silica have been identified. Gold values from 12 samples in the
structure range between 0.21 g/t to 32.7 g/t Au while three
samples in the vuggy silica ranged between 0. 2 and 1.44 g/t Au.
3. The La Cieneguita zone is marked by an 800-by-300 metre area
of intense alteration with gold mineralization. In the center of
this zone is a 10-to-20 metre wide mineralized hydrothermal
breccia that can be traced for 450 metres along strike. Visible
gold was observed in two samples collected from historic adits
300 metres apart. One of the samples was vuggy silica and it
assayed 6.21 g/t Au. In total, 12 grab samples returned from 0.11
g/t Au to 6.21 g/t Au with a mean of 2.20 g/t Au. Five of the
samples assayed greater than 2 g/t Au including two greater than
6 g/t Au.
Alteration and mineralization observed on La India includes
advanced argillic alteration associated with gold, gold-bearing
vuggy silica and pervasive silicification overlying the zones.
The geological setting, volcanic rocks, intrusions, style of
mineralization and alteration are very similar to those described
in the literature at Alamos Gold Inc.'s 3 million ounce Mulatos
deposit located only 7 km from Grayd Resource's property boundary
and 15 km from the La India showing.
Additional details for the La India Project, including a claim
location map showing the Triple A and La India claims, are posted
on Grayd Resources' website at www.grayd.com.
Grayd Resource Corporation is a natural resource company engaged
in the acquisition, exploration and development of mineral
resource properties. It has a gold project in Mexico, a gold
enriched base metal project in Alaska and a copper - gold project
in British Columbia. Visit our website at www.grayd.com for the
latest corporate information or contact Investor Relations at
604-681-7446.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Grayd Resource Corporation
Marc A. Prefontaine, M.Sc., P. Geo
President and Chief Executive Officer
(604) 681-7446
(604) 684-9877 (FAX)
Website: www.grayd.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Ed Monton
20 years ago
GRAYD RESOURCE CORPORATION
TSX VENTURE SYMBOL: GYD
JANUARY 12, 2004 - 19:33 ET
Grayd Resource Corporation: $667,000 Non-Brokered
Private Placement
VANCOUVER, BRITISH COLUMBIA--Grayd Resource Corporation (TSX
Venture: GYD) has negotiated a non-brokered private placement of
2,900,000 units at a price of $0.23 per unit. Each unit will
consist of one common share in the capital of the Company and one
non-transferable share purchase warrant. Each warrant will
entitle the holder thereof to acquire one additional share for a
period of two years exercisable at a price of $0.30 in the first
year and $0.40 in the second year. If Grayd's shares trade above
$0.90 for 20 consecutive business days within four months from
closing of the private placement, the warrants must be exercised.
Alternatively, if Grayd's shares trade above $1.20 for 20
consecutive working days in year two, the warrants must be
exercised. This transaction is subject to regulatory acceptance.
Upon completion, the private placement will provide Grayd with
proceeds of $667,000 which will be used for exploration of
Grayd's exploration projects and for general working capital
purposes.
Grayd Resource Corporation is a natural resource company engaged
in the acquisition, exploration and development of mineral
resource properties. It has gold projects in Mexico, a gold
enriched base metal project in Alaska and a copper - gold project
in British Columbia. The Company is currently planning a surface
exploration program on its La India and Triple A high
sulphidation projects in Mexico. The program is expected to
commence at the end of January 2004. Visit our website at
www.grayd.com for the latest corporate information or contact
Investor Relations at 604-681-7446.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Grayd Resource Corporation
Marc A. Prefontaine, M.Sc., P. Geo
President and Chief Executive Officer
(604) 681-7446
(604) 684-9877 (FAX)
Website: www.grayd.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Ed Monton
20 years ago
GYD adds more land near Mulatos:
GRAYD RESOURCE CORPORATION
TSX VENTURE SYMBOL: GYD
DECEMBER 22, 2003 - 17:44 ET
Grayd Adds Large Strategic Land Package to its Holdings
in the Mulatos Belt, Mexico
VANCOUVER, BRITISH COLUMBIA--Grayd Resource Corporation (TSX
Venture: GYD) announces that it has signed a letter of intent,
through its agent, to acquire a 100% interest in the 6591.6
hectare "Triple A" high sulphidation gold property located in the
prolific Mulatos belt of Northern Mexico.
The single claim, which is situated 7 km northwest of the 3
million ounce Mulatos high sulphidation gold deposit, covers a
large area of favorable geology. The Triple A property shares
common boundaries with parts of Grayd's previously acquired La
India claims; most of the property is located to the south and to
the east of La India. The southern claim boundary of Triple A is
contiguous with Alamos Gold Inc.'s Salamandra property and the
property also shares a common boundary with Chesapeake Gold
Corp.'s Juliana property.
Triple A is a very early staged grassroots prospect underlain by
the same volcanic rock sequences hosting most of the known
deposits and showings in the Mulatos belt. Large alteration zones
with silicified ridges similar to those at Mulatos and La India
have been observed on the property. A few showings have been
reported but exploration is required to determine their
significance and to evaluate the potential for additional
mineralization. Grayd views this as a fortuitous opportunity to
acquire a significant land holding in a tightly held and emerging
gold belt.
With a land package now totaling 7,068 hectares, Grayd is the
second largest land holder in the Mulatos gold belt next to
Alamos Gold. Grayd will conduct a regional prospecting and
mapping program on Triple A in conjunction with its exploration
program on La India. It is anticipated that the field programs
will commence in mid to late January 2004.
To earn a 100% interest in the Triple A claim, Grayd has agreed,
subject to regulatory acceptance, to a series of payments
totaling US $816,000 over 5 years, which includes US $500,000 as
the final payment. The first year payments include US $3,000 upon
regulatory acceptance, US $15,000 three months thereafter and US
$15,000 in 6 months. The project is subject to a 2% net smelter
royalty with the option to purchase 50% of the royalty (1.0 %) at
any time with a payment of US $1,500,000. A finder's fee is
payable, subject to the guidelines set forth in TSX policy.
Additional details for the La India Project, including a claim
location map showing the Triple A and La India claims, are posted
on the Company's website at www.grayd.com.
On Behalf of the Board of Directors
Marc A. Prefontaine, M.Sc., P.Geo., President and Chief Executive
Officer
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Grayd Resource Corporation
Investor Relations
(604) 681-7446
(604) 684-9877 (FAX)
Website: www.grayd.com
Ed Monton
21 years ago
GYD looking good. Here's the last news:
Grayd to refocus exploration efforts on La India
2003-11-28 13:16 ET - News Release
Mr. Marc Prefontaine reports
PROJECT UPDATE
Grayd Resource has terminated its agreements with South Coast Ventures Inc., whereby Grayd could acquire a 100-per-cent interest in the Glenwood and Dorset properties, Newfoundland. Grayd will not retain any interest in the properties. In addition, the company will allow all the claims within the White Gold project, Alaska, to lapse at the end of November. Grayd will be focusing its exploration efforts on the recently acquired La India gold project in Mexico (see news release in Stockwatch dated Nov. 13, 2003).
Grayd will retain its Delta volcanogenic massive sulphide project in Alaska and the Seel porphyry copper-gold project in British Columbia. With base metal prices showing signs of improvement, Grayd's management believes these projects will provide opportunities for increasing shareholder value through further exploration financed by the company, or by attracting a joint venture partner.
For additional information on Grayd, please visit the company's Web site at www.grayd.com, or contact investor relations at (604) 681-7446.
Ed Monton
21 years ago
Here is the latest news from Nov 13/2003:
NEWS RELEASE #03-10
Vancouver, British Columbia, November 13, 2003 . . . Grayd Resource Corporation (TSX Venture: GYD) announces that it has signed a letter of intent, through its agent, to acquire a 100% interest in the La India high sulphidation gold property located in the prolific Sierra Madre gold belt of Northern Mexico.
The 476.6 hectare project, which comprises two separate claims blocks (La India and La India 1) that are separated by 1050 metres, is favourably situated in Sonora State only 15 km northwest of the 3 million ounce Mulatos high sulphidation gold deposit.
Easily accessible by an all weather road, the La India property covers the western end of a large hydrothermal system that is characterized by intense argillic alteration and silicification. Three zones of gold mineralization with artisanal workings have been identified on the La India portion of the project.
The La India zone is marked by classic high-sulphidation style gold mineralization over a 1000-by-600 metre area. Argillically altered intrusive rock is exposed at lower elevations, while vuggy silica was observed above the argillic alteration and pervasive silicification on the ridge tops. A total of 9 grab samples collected from the face and walls of 3 short adits driven into the altered intrusive returned from 0.77 g/t to 6.87 g/t Au and 2.2 g/t to 39.2 g/t Ag; the mean of the nine samples is 3.82 g/t Au and 11.7 g/t Ag. In the upper portions of the ridge, quartz-barite veinlets are observed in 1-to-5 metre wide structures that commonly cut the silicified rocks. Quartz-barite and kaolin veins are also seen cutting the pervasively silicified rhyodacite volcanics throughout the area.
The La Espanola zone lies 500 metres to the northwest of the La India zone, and is marked by intense silicification with anomalous gold values over a 500-by-700 metre area. Within the zone, a 20 m wide structure can be traced for 200 metres before being lost due to a lack of outcrop exposure. The structure is best described as a hydrothermal breccia with silicified fragments of rhyodacite rock, quartz-silica infill and Quartz-barite veinlets. Five grab samples from an old cut on the north end assayed between 0.12 g/t Au to 32.5 g/t Au. Sampling of two additional structures located 300 metres to the west returned values of 3.50 and 6.10 g/t Au respectively over 1 metre.
The La Cieneguita zone, located 125 meters to the west of La Espanola, is marked by an 800-by-300 metre area of intense alteration with anomalous gold values. In the center of this zone is a 10-to-20 metre wide mineralized hydrothermal breccia that can be traced for 450 metres along strike. Visible gold was observed in 2 samples collected from historic adits 300 metres apart. Twelve grab samples returned from 0.11 g/t Au to 6.21 g/t Au.
La India 1 has been subjected to very little work but alteration zones and silicified ridges are observed.
Grayd will aggressively explore the La India project over the next few months to advance the project to the drilling stage. The first exploration phase will include geological mapping and prospecting; detailed sampling and possibly trenching of the three zones identified to date, along with a soil geochemistry program covering the entire project area. Diamond drill testing of 3 zones, along with any additional targets outlined during the program, will follow.
To earn a 100% interest in the La India claims, Grayd must pay US $555,000 over 4 years, including US $15,000 upon regulatory acceptance and US $20,000 in 6 months. The project is subject to a 1% net smelter royalty with the option to purchase 50% of the royalty (0.5%) at any time with a payment of US $750,000. On a production decision, Grayd will have 9 months to pay the vendors a one-time payment of US $0.50 per recoverable ounce based on the reserves outlined in a bankable feasibility study. A finders fee of 320,000 shares is payable in two payments, as to 200,000 shares upon regulatory acceptance and 120,000 shares after one year if Grayd retains the property and proceeds into year two of the earn-in agreement.
Additional details for the La India Project, including maps, will be posted on the Company's website at www.grayd.com. For further information contact Investor Relations at (604) 681-7446.
On Behalf of the Board of Directors
Signed " Marc A. Prefontaine"
Marc A. Prefontaine, M.Sc., P.Geo.
President and Chief Executive Officer
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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