the release was coming as the stock started to get firm bids over the last couple of days - the news fairies must have known!
Dry Creek drill results
Grayd Resource Corporation GYD
Shares issued 13,392,942 Jul 29 close $0.91
Thu 30 Jul 98 News Release
Mr. John McCluskey reports
Grayd Resource has encountered a significant drill intersection on its 100
per cent owned Dry Creek property in Alaska. Hole DC98-60, drilled within
the Fosters Creek zone, intersected disseminated, semi-massive and massive
sulphides from 69.5 to 283.7 feet, for a total intercept length of 214.2
feet (65.3m). Based on geological projections and core axis angles, the
intercept is estimated to represent a true width of mineralization of
approximately 160 feet (48.8m).
Previous high-grade assays from within the Fosters Creek zone were reported
on June 15, 1998, and additional intercepts that still have assays pending
were reported on July 21, 1998. Hole DC98-60 was drilled to intersect the
zone below holes DC98-40 and 41. Hole DC98-40 intersected 0.2 per cent Cu,
2.6 per cent Pb, 6.2 per cent Zn, 183.0 g/t Ag and 1.03 g/t Au over a true
width of 95.0 feet (29.0m). Hole DC98-41, drilled at a steeper angle from
the same pad, did not intersect mineralization due to a fault which
displaced the zone to the north. Hole DC98-60 is interpreted to have
intersected the faulted offset projection of the mineralization intersected
in hole DC98-40, approximately 300 feet (90m) down along the dip of the
zone. Hole DC98-60 indicates that the zone has widened at depth and is open
down dip. Latest assays for the intersections in the Fosters Creek zone and
for intersections in the Lago Creek and Discovery areas should be returned
over the next two weeks.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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