*****NEWS RELEASE*****
Grayd Resource Corporation -
Dry Creek drilling results
Grayd Resource Corporation GYDShares issued 120566311998-06-12 close $1.15Monday Jun 15 1998Mr. John McCluskey reports High-grade assay results over significant widths have been returned from the first three 1998 drill holes on Grayd's 100 per cent owned Dry Creek property. Holes DC98-38 and DC98-39 were drilled in the Fosters Creek area, 100 ft (30m) west of DC97-32 and DC97-33, which intersected high-grade mineralization in 1997. Hole DC98-40 is 250 ft (75m) east of DC97-32 and DC97-33. Results from the 1998 holes in conjunction with results from DC97-32, DC97-33, DC97-5 and DC97-6, outline a substantial area containing high-grade mineralization over significant widths. Mineralization remains open along strike and down dip. Of particular note is the high precious metal content within some of the intersections.
From To Cu Pb Zn Ag Au
(ft) (ft) % % % g/t g/t
---- ---- -- -- -- --- ---
Hole DC98-38
193.5 223.0 0.14 2.35 5.22 193.9 1.11
including
193.5 209.3 0.23 4.23 9.28 296.5 1.86
Hole DC98-39
254.5 320.0 0.20 3.18 7.30 45.2 0.37
including
254.5 292.0 0.28 4.49 10.33 45.0 0.45
Hole DC98-40
20.0 138.4 0.22 2.56 6.22 182.8 1.03
including
20.0 35.0 1.02 8.46 23.58 531.5 2.42
48.2 61.0 0.21 3.84 7.92 203.3 1.52
70.0 80.3 0.24 6.64 14.63 211.2 0.67
103.0 112.0 0.13 1.24 3.11 274.6 2.69
114.5 122.0 0.31 3.15 6.97 556.7 2.77
Dry Creek is in the Bonnifield District south of Fairbanks, Alaska. The 12,000 ft (3,600m) 1998 drill program is currently focusing on the DC North horizon, one of four horizons of polymetallic volcanogenic massive sulphide mineralization identified on the property. In addition to the projected extensions of the Fosters Creek area mineralization, projections to high-grade mineralization in the Discovery area 2,500 ft (750m) east of the current holes, and additional geophysical and geochemical anomalies will be drilled. Assay results will be reported as the exploration program progresses. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
GYD has $6,000,000 in cash.
Good luck
Mr Metals |
