GYD.V (Grayd) NEWS! Now, is this going to be...big?
Grayd Discovers New High Grade at Delta Property, Alaska
Vancouver, BC, November 8, 2005 . . . Grayd Resource Corporation (TSX-V: GYD) reports 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 3.0 m grading 6.1 g/t Au, 374.8 g/t Ag, 0.4% Cu
and 14.8% Pb and 0.6 m grading 4.7 g/t Au, 547.3 g/t Ag, 0.4% Cu and 22.6 % Pb.
The 5 cm wide by 7 cm deep channel samples were collected across the exposed outcrop surface using a
portable diamond-blade saw. The nine 0.2 to 0.5 m long channel samples collected returned assays from 2.85
g/t to 7.53 g/t Au and 317 g/t to 619 g/t Ag. Mineralization is open laterally beyond the endpoints of the
samples. The thickness of mineralization is unknown. It is believed that the zone represents the footwall of a
zone drilled in the 1990’s known as the LP VMS Zone, which outcrops 200 m 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 1990’s. Approximately $10 million was spent exploring in the Delta District, including 16,746 m 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 NI 43-101 report
entitled “Technical Report and Exploration Recommendations on the Delta VMS Property” dated December 22,
2003 which is filed on Sedar and is available for viewing on Grayd’s website at www.grayd.com.
In addition to the potential for discovering new mineralization (as evidenced by this small prospecting program),
several of the zones are open to expansion and thus the Company is actively seeking a joint venture partner to
advance the project.
The Delta VMS property is located on Alaska state land approximately 30 km from the Alaska Highway. The
sampling described, including check samples for QA/QC, was completed under the direct supervision of Samuel
S. Dashevsky, CPG, a qualified person under NI 43-101. Samples were submitted to ALS Chemex
Laboratories for gold, silver, copper, lead and zinc assay. |
