GYD news. I may be glad I am holding this puppy afterall:
Grayd Resource samples three m of 6.1 gpt Au at Delta
2005-11-08 12:13 ET - News Release
Mr. Marc Prefontaine reports
GRAYD DISCOVERS NEW HIGH GRADE AT DELTA PROPERTY, ALASKA
Grayd Resource Corp. has released the results of sampling across a zone of precious-metal-enriched mineralization at its wholly owned Delta volcanogenic massive sulphide (VMS) property in east-central Alaska. Two channel samples across a zone of mineralized chlorite schist recently exposed by a receding glacier averaged:
three metres grading 6.1 grams per tonne gold, 374.8 grams per tonne silver, 0.4 per cent Cu and 14.8 per cent Pb; and
0.6 metre grading 4.7 grams per tonne gold, 547.3 grams per tonne silver, 0.4 per cent Cu and 22.6 per cent Pb.
The five-centimetre-wide and seven-centimetre-deep channel samples were collected across the exposed outcrop surface using a portable diamond-blade saw. The nine 0.2-to-0.5-metre-long channel samples collected returned assays from 2.85 grams per tonne to 7.53 grams per tonne gold and 317 grams per tonne to 619 grams per tonne silver. Mineralization is open laterally beyond the end points of the samples. The thickness of mineralization is unknown. It is believed that the zone represents the footwall of a zone drilled in the 1990s known as the LP VMS zone, which outcrops 200 metres to the west of the new samples (a map of the zones and new samples is provided on the Grayd website under Alaska projects). The new results highlight the exploration potential and precious metal content of the VMS systems at Delta. Over 40 mineral occurrences have been discovered including eight massive sulphide zones that were drilled in the 1990s. Approximately $10-million was spent exploring in the Delta district, including 16,746 metres in 134 holes of diamond drilling. There are three known stratigraphic levels hosting sulphide mineralization including a series of five zones, which are fault-bounded sections, but continuous over a 3.2-kilometre strike length on the property. The geology, mineralization and diamond-drill results are described in detail in a National Instrument 43-101 report entitled Technical Report and Exploration Recommendations on the Delta VMS Property, dated Dec. 22, 2003, which is filed on SEDAR and is available for viewing on Grayd's website.
In addition to the potential for discovering new mineralization (as evidenced by this small prospecting program), several of the zones are open to expansion. Thus, the company is actively seeking a joint venture partner to advance the project.
The Delta VMS property is located on Alaskan land approximately 30 kilometres from the Alaska Highway. The sampling described, including check samples for quality assurance and quality control, was completed under the direct supervision of Samuel Dashevsky, CPG, a qualified person under National Instrument 43-101. Samples were submitted to ALS Chemex Laboratories for gold, silver, copper, lead and zinc assays |
