hole 60 - just about what the market ordered
Dry Creek drill results
Grayd Resource Corporation GYD
Shares issued 13,392,942 Aug 14 close $0.70
Mon 17 Aug 98 News Release
Mr. John McCluskey reports
The company has released the assay results from DC98-60. This hole, drilled
in the Fosters Creek zone on the Dry Creek property intersected a wide
section of disseminated, semi-massive and massive sulphide mineralization
from 69.5 to 283.7 ft. The average grade of the intersection was: 214.2 ft
grading 0.10 per cent Cu, 1.96 per cent Pb, 4.19 per cent Zn, 71.0 g/t Ag
and 0.48 g/t Au.
The intersection represents a true width of 48.8 metres. Within the overall
intersection, there are higher-grade sections of significant width. These
include:
>From - To (ft)
--------------
Width Cu Pb Zn Ag Au
(ft) (%) (%) (%) g/t g/t
----- ---- ---- ---- ----- -----
77.0-101.0
24.0 0.14 3.33 7.23 20.0 0.30
118.0-134.8
16.8 0.13 4.38 8.54 14.2 0.27
170.6-218.0
47.4 0.21 3.43 7.17 60.1 0.71
238.0-283.7
45.7 0.05 0.82 1.82 179.1 0.68
The intersection in hole DC98-60 is 300 ft down-dip from hole DC98-40 which
intersected 0.2 per cent Cu, 2.6 per cent Pb, 6.2 per cent Zn, 183 g/t Ag
and 1.03 g/t Au over a true width of 95 ft. These intersections, and other
intersections reported previously, are within the same sedimentary unit
that has been intersected over a strike length of 750 ft and to a vertical
depth of 360 ft. The zone is open down-dip of hole DC98-60.
The 214.2 ft wide intersection, with multiple higher-grade sections in hole
DC98-60, highlights the potential for large volcanogenic massive sulphide
deposits on the Dry Creek property. The continuity of higher-grade sections
will be examined to assess the possibility of developing a high-grade
deposit in the zone. The Fosters Creek area has moderate relief and
mineralization occurs near surface. The company will assess the potential
of exploiting near surface resources through open pit mining methods.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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