Atna's investment in Grayd again shows results.
Grayd Resource Corporation -
Massive sulphides intersected at Dry Creek
Grayd Resource Corporation
GYD
Shares issued 12056631
1998-06-02 close $1.63
Wednesday Jun 3 1998
Mr. John McCluskey reports
The 12,000 foot diamond drill program on the company's
wholly owned Dry Creek property, Alaska, commenced May
26, 1998. The Dry Creek property is one of four projects
Grayd will drill in 1998. Drilling at Dry Creek is currently
being conducted in the Fosters Creek area of the DC North
horizon. Significant widths of high-grade massive sulphide
mineralization were intersected along the DC North horizon in
1997. Assay results from holes DC97-32 and 33 (1997)
averaged 7.0 per cent lead, 15.4 per cent zinc, 239
grams/tonne silver (7.0 oz/ton) and 1.1 grams/tonne gold (0.03
oz/ton) over a true width of 5.8m (19 ft).
Two holes of the 1998 program have been completed and a
third is in progress; all holes have intersected massive
sulphide mineralization containing lead and zinc. The first two
holes, DC98-38 and DC98-39, were drilled at -45 and -75
degrees, respectively, from a drill pad 30m (100 ft) west
along strike from DC97-32 and 33. The third hole, DC98-40,
is 60m (200 ft) along strike east of DC97-32 and 33. This hole
has already cored significant zones of massive sulphide
mineralization. Assay results from the new intersections are
expected within 10 days.
Results to-date are encouraging as they demonstrate that the
zone of massive sulphide mineralization intersected in 1997
has lateral extent. Mineralization is open in both directions
along strike and down dip. Additional holes will be targeted
on larger step-outs from the current intersections.
(c) Copyright 1998 Canjex Publishing Ltd.
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