Grayd pulls VMS values from Dry Creek property

Grayd Resources (GYD-V) continues to hit impressive massive sulphide intersections at its wholly owned Dry Creek property near Fairbanks, Alaska.

The company recently released results from seven drill holes collared near the Fosters Creek zone, which is 2,600 ft. west of the Discovery area, along strike. The target is an ancient sedimentary basin situated next to a felsic volcanic centre. Highlights are as follows;

* Hole 60 was collared 90 metres north of previously reported hole 40 (6.22% zinc, 2.56% lead and 0.22% copper, plus 1.03 grams gold and 182.8 grams silver per tonne, over 29 metres). The more recent hole cut 48.8 metres (true width) grading 4.19% zinc, 0.1% copper, 1.96% lead, 71 grams silver and 0.48 gram gold starting at a down-hole depth of 21.2 metres.

Several higher-grade intersections were encountered in this hole. The first started at a depth of 23.5 metres down-hole and averaged 7.23% zinc, 0.14% copper, 3.33% lead, 20 grams silver and 0.3 gram gold over 7.3 metres. Farther down-hole, at a depth of 35.9 metres, a 5.1-metre interval ran 8.54% zinc, 0.13% copper, 4.38% lead, 14.2 grams silver and 0.27 gram gold.

At 51.8 metres down-hole, a 14.4-metre interval averaged 7.17% zinc, 0.21% copper, 3.43% lead, 60.1 grams silver and 0.71 gram gold.

At 72.6 metres down-hole, a 13.9-metre interval averaged 1.82% zinc, 0.05% copper, 0.82% lead, 179.1 grams silver and 0.68 gram gold.

* Hole 56 was collared 25 metres west of hole 60 and cut 19.5 metres (true width) averaging 3.25% zinc, 0.1% copper, 1.7% lead, 84.1 grams silver and 0.43 gram gold. Mineralization was hit at a depth of 77.5 metres down-hole. Two higher-grade intersections were encountered in this intersection. The first started at a depth of 77.5 metres down-hole and graded 9.81% zinc, 0.29% copper, 5.91% lead, 20.2 grams silver and 0.43 gram gold over 3.6 metres.

The second interval started at a depth of 90.1 metres down-hole and averaged 2.21% zinc, 0.09% copper, 1.05% lead, 227.2 grams silver and 0.44 gram gold over 6.1 metres.

* Hole 54, which was collared 75 metres southeast of hole 56, cut 10.8 metres (true width) grading 2.84% zinc, 0.04% copper, 0.62% lead, 9.1 grams silver and 0.28 gram gold starting at a depth of 21.3 metres down-hole.

o Hole 54, also collared 75 metres southeast of hole 56, hit 7.6 metres (true width) averaging 3.22% zinc, 0.08% copper, 1.47% lead, 20.4 grams silver and 0.27 gram gold starting at a down-hole depth of 19.8 metres.

All three holes, 54, 55 and 56, were drilled in what the company believes is a sedimentary basin that becomes thicker to the west.

* Hole 53 was collared in the Discovery area, 650 metres east of hole 56, and intersected 3.9 metres (true width) averaging 2.98% zinc, 0.05% copper, 1.28% lead, 18.2 grams silver and 0.13 gram gold starting at a depth of 104.6 metres down-hole.

Holes 52 and 51 were collared on the same pad, 240 metres east of the projected edge of the basin (about 350 metres east of hole 56).

* Hole 52, the deeper of the two holes, cut 8.4 metres (true width) grading 3.48% zinc, 0.13% copper, 1.62% lead, 15.8 grams silver and 0.11 gram gold starting at a down-hole depth of 136.2 metres.

* Hole 51 returned 4 metres (true width) averaging 2.41% zinc, 0.06% copper, 1.29% lead, 16.9 grams silver and 0.14 gram gold starting at 128.1 metres down-hole.

Sulphide mineralization was intersected in a sedimentary unit that appears similar to the mineralized unit in the Fosters Creek area to the west.

Grayd believes that since these holes intersected the sedimentary unit at a lower stratigraphic position, there may be another basin or an extension of the Fosters Creek basin at depth in the hangingwall of the Lago Creek and Discovery zones.

Formed in 1996, on the heels of the Kudz Ze Kayah and Wolverine polymetallic massive sulphide discoveries in the Yukon Tanana belt in southeastern Yukon, Grayd has focused on exploring a similar package of rocks in neighboring Alaska. The Vancouver-based junior now holds 19 properties in seven districts in the state.

Dry Creek is one of five properties held by Grayd in the Bonnifield area. Volcanogenic massive sulphide mineralization was discovered on the property in 1976. Mineralization occurs in an altered felsic volcanic and sedimentary sequence of Late Devonian-Mississippian Totatlanika schist.