At its Dry Creek polymetallic property in Alaska, Grayd Resource (GYD-V) has outlined a continuous zone of mineralization over a strike length of 230 metres and to a vertical depth of 140 metres.
The structure, which occupies the Fosters Creek portion of the property, consists of sulphides hosted in an ancient sedimentary basin situated next to a felsic volcanic centre.
Recent drill results are outlined below:
* Hole 42 was collared 100 metres northwest of previously reported hole 40 (29 metres grading 6.22% zinc, 2.56% lead, 0.22% copper, 1.03 grams gold and 182.8 grams silver). The more recent hole cut 6.6 metres (true width), starting at a depth of 167.7 metres downhole, grading 0.05% copper, 0.78% lead and 1.54% zinc, plus 81.9 grams silver and 0.38 gram gold per tonne.
* Hole 41 intersected no significant mineralization.
* Hole 43, collared 175 metres northeast of hole 40, cut 1.3 metres (true width) grading 0.02% copper, 0.63% lead, 1.51% zinc, 5.4 grams silver and 0.07 gram gold starting at 59 metres downhole.
* Hole 44 stepped out 100 metres west of hole 43 and intersected 10.1 metres (true width) averaging 0.06% copper, 0.7% lead, 1.68% zinc, 31 grams silver and 0.1 gram gold starting at a depth of 109 metres. The hole included a 2.3-metre interval that ran 0.14% copper, 1.85% lead, 4.06% zinc, 107 grams silver and 0.26 gram gold.
It was in hole 44 that a rhyolitic volcanic unit was intersected, in the same stratigraphic position of the sedimentary unit that lies to the west.
The rhyolite displayed intense quartz-sericite-pyrite alteration and evidence of sphalerite (zinc sulphide) mineralization. Grayd has interpreted the sedimentary unit as a paleo basin in which the previously reported high-grade drill intersections are located.
* Hole 45, collared on the same pad as hole 44, intersected 4.3 metres (true width) grading 0.04% copper, 0.51% lead, 1.58% zinc, 28 grams silver and 0.23 gram gold.
The low grades intersected in holes 43, 44 and 45 were attributed to the fact that they were drilled east of the sedimentary basin. An additional six holes have been drilled in the sedimentary unit, all of which have intersected sulphide mineralization ranging from disseminated and semi-massive to massive. Assays are still pending.
The Dry Creek property is in the Bonnifield mining district.
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