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Gold/Mining/Energy : GRAYD RESOURCES: GYD/VSE -- Ignore unavailable to you. Want to Upgrade?

To: Mr Metals who wrote (16)	7/13/1998 12:36:00 PM
From: rdww	Read Replies (1) \| Respond to of 58

Results from Dry Crek this week maybe and the start of drilling on the Glacier Creek Glacier Creek drilling under way Grayd Resource Corporation GYD Shares issued 13,392,942 Jul 10 close $1.20 Mon 13 Jul 98 News Release Mr. John McCluskey reports Drilling has commenced on the Glacier Creek property in the Bonnifield District south of Fairbanks, Alaska. The property is part of the Bonnifield joint venture with Inmet Mining in which Grayd holds a 40 per cent interest. The joint venture will drill 1,050 metres on four volcanogenic massive sulphide (VMS) targets in the district. The Glacier Creek property is 12 kilometres northwest of Grayd's wholly owned Dry Creek property where Grayd is currently drilling to follow up on high grade VMS discoveries. The same geological units that host VMS mineralization at the Red Mountain and WTF areas at Dry Creek are found at Glacier Creek. The first holes at Glacier Creek will target a 1,500 metre long coincident airborne EM and Cu-Pb-Zn-Ag in soil anomaly. The anomaly occurs close to the Sheep Creek - Mystic Creek stratigraphic contact that hosts a 2.8 million tonne resource in the WTF zone at Dry Creek. The anomaly lies on top of a felsic dome and is associated with a large airborne magnetic anomaly, strongly altered rocks and a widespread area of disseminated pyrite. No previous drilling on the property has been conducted. The Glacier Creek property has all the positive geological, geochemical and geophysical indications commonly associated with VMS deposits. Other VMS deposits in the district are characterized by high base metal grades combined with significant precious metal contents. In addition to drilling, the joint venture will conduct geological, geochemical and geophysical work on six properties in the Bonnifield area. Inmet is the operator. The total exploration budget for 1998 is $800,000 with Grayd financing 40 per cent. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com