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25-08-2008 - 1:47pm

 La India, Sonora, Mexico
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 Delta, Alaska, USA

 

Profile & History

Corporate Profile

Grayd Resource Corporation is a Canadian junior mining company with a highly motivated management team experienced in mineral exploration and finance. The mission of the company is to maximize shareholder value through the acquisition, exploration and development of quality precious and base metal projects. The Company's primary focus is the La India Gold Project located in Sonora State, Mexico. In addition to exploring on its current projects, Grayd continues to evaluate additional projects.

La India Gold Project - Sonora State, Mexico

  • Target: A multimillion-ounce high sulphidation epithermal gold deposit amenable to open pit mining and heap leaching.

    Gold bearing zones have been previously identified and exploration is underway to evaluate the potential.

    Drill highlights including:

110 m grading 2.1 g/t Au (La Cruz) 

138 m grading 1.1 g/t Au (Viruela) 

108 m grading 1.1 g/t Au (Cerro de Orro) 

31 m grading 1.6 g/t Au (Ceineguita) 

  • Delta Project - Alaska, USA

    Target: Precious-metal enriched volcanogenic massive sulphide (VMS)

    43-101 compliant inferred resource totaling 15.4 million tonnes  0.6% Cu, 1.7% Pb, 3.8% Zn, 62 g/t Ag, 1.7 g/t Au

    History

1996-
2000
:
  • The Company acquired an interest in several exploration properties in Alaska in the period from 1996 to 1998. During the period 1996 through 2000, these properties were explored, both by Company funded work and by joint venture partners. At the end of 2000, Grayd owned an interest in 6 exploration projects in Alaska.
2001:
  • Entered into a joint venture agreement with Placer Dome US Inc (PDUS) on the White Gold project.
  • Diamond drilling on White Gold project.
  • December, PDUS cancels options.
  • Four properties allowed to lapse; White Gold and Delta projects in Alaska remain in the Company.
2002:
  • Acquired two new groups of mineral claims in Newfoundland; the Glenwood and Dorset gold properties. Undertook exploration programs consisting of data compilation, prospecting, geological mapping and geochemistry on both properties.
2003:
  • Acquired the Seel project, a copper-gold-silver porphyry prospect, located in west central BC.
  • Undertook a compilation, geology and geochemistry program on the Seel project.
  • Acquired a 100% interest in the La India, La India 1 and Triple A claims located in Sonora State, Mexico through two agreements. Collectively known as the La India project, the claims cover ground highly prospective for a high sulphidation epithermal-style gold deposit.
  • Returned the Dorset and Glenwood Properties in Newfoundland to the original vendor, and allowed all claims in its White Gold Property in Alaska to lapse in order to concentrate on the properties it considered to have the best potential to host a large mineral deposit. At the end of 2003, the Company owned a 100% interest in the Delta Project in Alaska, the Seel Project in British Columbia and the La India Project in Mexico.
2004-
2005:
  • Exploration at La India begins. Seel property optioned to Gold Reach.
  • Drilling at Seel property discovers a near surface copper-gold porphyry system with drill results including 148 m grading 0.29% Cu and 0.27 g/t Au.
  • Newmont signs an option agreement at La India with a right to earn a 51% interest by spending US $7 million on exploration and development over a four-year period.
  • Newmont Identifies 14 Exploration Targets at La India.
  • Grayd Discovers New High Grade at Delta Property, Alaska.
2006:
  • Discovery hole at La India drilled (85.3 m grading 2.6 g/t Au).
  • Grayd and Newmont Triple Land Position at La India Property.
  • Grayd Options Delta Property to Rhyolite Resources.
  • Newmont Mining Corporation has elected not to proceed with an earn-in agreement on the property after spending approximately US$1.8 million over the past year.
  • 43-101 compliant inferred resource estimation on its Delta Property, Alaska of 15.4 million tonnes grading 3.8% zinc, 0.6% copper, 1.7% lead, 1.7 g/t gold and 62 g/t silver in seven deposits.
  • Tarachi Project, a new high-sulphidation gold project in the Mulatos Gold Belt, Sonora State, Mexico is acquired.
2007:
  • Dr. Longo who directed exploration efforts at Grayd's La India project on behalf of Newmont Mining Corporation joins Grayd as chief geologist on a consulting basis.
  • RC drilling at La India continues with over 20,000m drilled to date..
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