Grayd Resources tests Dry Creek for VMS

Reconnaissance drilling at the Dry Creek property near Fairbanks, Alaska, has returned encouraging values for Grayd Resource (GYD-V).

The program was carried out on the Red Mountain massive sulphide zone, where six shallow holes totalling 813 metres were drilled from three sites over an interval of 400 metres.

The most promising results were reported from hole 2A, which intersected 5.38 metres from a depth of 18.62-24 metres grading 6.7% zinc, 3.18% lead and 0.6% copper, plus 0.06 gram gold and 11.76 grams silver. Included in the hole was a 2.46-metre interval grading 11.12% zinc, 5.54% lead, 0.03% copper, 0.06 gram gold and 12.6 grams silver.

Hole 2A was drilled 330 ft. west of a hole drilled in 1976, which intersected 11.7 metres between a depth of 39 and 50.7 metres grading 1.18 grams gold and 60.48 grams silver per tonne, plus 5.28% zinc, 2.16% lead and 0.29% copper.

The 1976 hole included a 3.7-metre interval grading 3.36 grams gold and 109.2 grams silver, plus 10% zinc, 4.2% lead and 0.32% copper.

The five other holes drilled in the recent program hit the favorable horizon and mineralization with widths ranging from 1.5 to 8.5 metres and combined base metal values grading between 2% and 6%.

The Red Mountain zone is 3 km southwest of the previously drilled WTF deposit, which contains an estimated 1.6 million tonnes grading 0.9 gram gold and 341.6 grams silver per tonne, plus 7.05% zinc and 3.44% lead.

The zone comprises four mineralized horizons, which occur along an east-west-trending syncline fold structure at the contact between altered felsic volcanics and an overlying sedimentary sequence.

More drilling is planned for the current year.