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Hello esalad,
It really depends on how good their recent find is. One can't really figure this out by technicals anymore. We have a superspike. This is the news they released yesterday.
Grayd and Newmont Intersect 85.3 m Grading 2.6 g/t Au; New Gold Zone Discovered at La India Project in Mexico
Monday January 9, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA
--(CCNMatthews - Jan. 9, 2006) - Grayd Resource Corporation (TSX VENTURE:GYD - News) reports the discovery of a new zone of gold mineralization at the La India Project, located in Sonora State, Mexico. RC05-14, the third Reverse Circulation (RC) hole drilled in December 2005, intersected 85.3 m grading 2.6 g/t Au. The upper portion of the intersection graded 7.2 g/t Au over 9.1 m. Recent surface mapping and positive chip sampling results indicate good exploration potential for several hundreds of metres around the drill hole.
RC05-14 was drilled in the Viruela-La Cruz area at an azimuth of 270 degrees and a dip of -50. There is no outcrop in the area of the drill intersection, and the true width is not known. Massive to vuggy silica and associated alunite and dickite indicate that the intersection is within a high sulphidation epithermal-style system. Gold values within the intersection (from 102.1 to 187.4 metres) range from 0.15 to 10.75 g/t. Silver averaged 15.4 g/t over the 85.3 m intersection. The vertical distance from surface to the start of the intersection is about 60 m. The upper extent of mineralization is likely to be shallower and may outcrop. Almost all of the rock intersected in the hole was intensely altered, and a lower intersection of silica alteration averaged 0.6 g/t Au over 18.3 m. A location map and drill hole section are attached and have also has been posted on the Grayd website.
A RC hole drilled from the same location as RC05-14 in 1992 ended in the mineral zone with a reported 5.3 m grading 3.95 g/t Au. In addition, a 1995 diamond drill hole collared approximately 45 m to the northeast, which also ended in mineralization, intersected 2.24 g/t Au over the last 27.5 m of the hole, suggesting a northeast-southwest strike. There are no holes that would have tested the strike extension of a zone trending SW from the new intersection.
Recent mapping has outlined zones of silicification, including vuggy silica, in areas south of RC05-14. Thirty-nine of 123 surface rock samples collected within an area approximately 740 m across in an east-west direction and up to 700 m south of the drill hole assayed greater than 1.0 g/t Au and 9 assayed greater than 3.0 g/t Au (with the highest being 9.8 g/t Au). Samples include 1 to 4 m long chip and grab samples. A map with drill hole and rock sample locations has been posted on the Grayd website.
The other two RC holes completed in December 2005 were drilled in the Puertos area located 2.4 km southeast of Viruela-La Cruz. RC05-12 intersected massive silica and advanced argillic alteration from 0 to 56.4 m which assayed between 0.01 and 0.11 g/t Au and silica-clay-pyrite alteration from 134.1 to 184.4 m which assayed between 0.02 and 0.07 g/t Au. RC05-13 entered a zone of silica-clay alteration at 123.4 m which assayed between 0.02 and 0.32 g/t Au to 137.8 m where the hole was lost due to broken ground and swelling clays. The drill results confirm that higher-temperature portions of a high-sulphidation epithermal system occur in the Puertos area, thus indicating potential for a gold deposit. Further work, including re-drilling RC05-13, is planned.
Field work at La India will resume on January 10, 2006 with drilling expected to start at the end of the month. The area around RC05-14 will be a priority, but there are a number of other targets which will be evaluated within the 10 km strike length of prospective geology on the property.
With a 75 km2 land position, La India is a district-scale high sulphidation epithermal prospect with multiple exploration targets. The property is underlain by the same geology, alteration, and mineralization style that occurs at Alamos Gold's Mulatos high sulphidation open pit gold mine which is located 6 km from the La India property boundary (approximately 15 km from Viruela-La Cruz). Alamos Gold reports a measured and indicated resource of 62.3 million tonnes grading 1.51 g/t Au using a 0.6 g/t cut off (3.02 million ounces) on their website.
Exploration at La India is being funded by Newmont Mining Corporation as part of Newmont's earn-in commitment on the property. Under the terms of the La India agreement, Newmont must spend US $7 million on exploration and development over a four-year period to earn a 51% interest in the property. Newmont can earn an additional 19% interest (to a total of 70%) by completing a bankable feasibility study. Grayd is the operator for the first two years of the earn-in.
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Len- Inter-
UTM Coordinate gth sections Au
Hole Target East North Azim. Dip M From To Width g/t
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RC05-12 Puertos 709287 3174945 270 -50 228.6 0 56.4 56.4 0.01-
0.11
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134.1 184.4 50.3 0.02-
0.07
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RC05-13 Puertos 709397 3174982 360 -80 137.8 123.4 137.8 14.4 0.1
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RC05-14 Viruela 707273 3176190 270 -50 254.5 102.1 187.4 85.3 2.6
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including 102.1 111.2 9.1 7.2
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225.5 243.8 18.3 0.6
-----------------------------------------------------------------------
Hans Smit, P.Geo., VP Exploration for Grayd, is the Qualified Person directing the exploration at La India. Drilling was undertaken by Layne de Mexico. Samples were sent to the ALS Chemex facility in Hermosillo for sample preparation, and then to the ALS Chemex laboratory in Vancouver for gold assay and ICP. Silver values were determined by ICP. Several of the higher grade samples have been sent for metallic gold assay and independent check assays. QA/QC procedures used include assay standards and blanks. The first 11 holes drilled by Grayd were in the La India zone in 2004.
Grayd Resource Corporation is a natural resource company engaged in the acquisition, exploration and development of mineral resource properties.
To view the maps attached to this release please click on the following links:
http://www.ccnmatthews.com/docs/0109gyd.pdf
http://www.ccnmatthews.com/docs/0109gyd1.pdf
The TSX has neither approved nor disapproved of the information contained herein.
Contact:
Marc A. Prefontaine, M.Sc., P.Geo.
Grayd Resource Corporation
President and CEO
(604) 681-7446
(604) 684-9877 (FAX)
www.grayd.com
(604) 628-5188 ext. 101
Freeform Communications Inc.
--------------------------------------------------------------------------------
Source: Grayd Resource Corporation
Hey getthapaper,
Still watching SDRG?
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URIX/EXNT/PIII/RDCM/CLG/YMI/XNR
URIX - 0.95
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ENXT - 1.10
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PIII - 1.84 - looking for 1.92 break -
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RDCM - 3.65
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CLG - 2.66
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YMI - 3.53
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XNR - 4.19
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URIX/EXNT/PIII/RDCM/CLG/VSPC/YMI/XNR
URIX - 0.95
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EXNT – 1.10
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PIII – 1.84 - looking for 1.92 break
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RDCM – 3.65
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CLG - 2.66
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VSPC – 0.91 bottom play
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YMI - 3.53
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XNR - 4.19
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EXNT/PIII/RDCM/CLG/VSPC/YMI/XNR
EXNT – 1.10
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PIII – 1.84 - looking for 1.92 break
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RDCM – 3.65
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CLG - 2.66
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VSPC – 0.91 bottom play
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YMI - 3.53
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XNR - 4.19
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KONG - 15.04
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SNWL - 8.49
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BDH - 20.39
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ENG - 11.86
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MRB - 2.26
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URIX – 0.95
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POMGF - Gok you got the break under heavy volume; 1.66 currently
Gok's chart on previous reply
Nice call G.S. on the bounce
29.75
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BTJ - 16.20
chart at the end of this reply
TSX-V /ALS/EMC/NTC/NW/RES/SAU/SBB/SGC/XRC
ALS.V – 4.94
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EMC.V – 4.05
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NTC.V – 1.60
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NW.V – 0.33
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RES.V – 0.44
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SAU.V – 0.26
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SBB.V – 1.28
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SGC.V – 1.51
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XRC.V – 2.14
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TSX /GRZ/ICS/NG/XLX/ACG
GRZ.TO – 4.60
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ICS.TO – 1.06
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NG.TO – 11.90
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XLX.TO – 0.45
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ACG.TO – 6.40 - already in play caution is needed -
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GYD.V - 1.03
Got the break but fell asleep!
chart on previous reply
QT - STP what a start you are definately right!
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OTV - RTQ 3.15
chart on previous reply
So many breakouts, ED! What's next is the key question?
RBI.TO & GBG.TO/GBN:AMEX charts
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GBN - RTQ 1.72 @ resistance from Sept - Nov 2004
Gok's chart on previous reply
I erased that one from the venture collection, you really never know which will run and which won't. :0)!
UTS.TO - could be looking for an upward break soon
cats chart on previous reply
TSX-V /AAU/DYG/ECU/PAN/SKR/SPZ/SWC
AAU.V - 1.23
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DYG.V - 0.29
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ECU.V 0.50
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PAN.V - 0.31 - cup ti fill -
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SKR.V - 3.55
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SPZ.V - 0.23 Reversing
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SWC.V - 1.55
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Got my eyes fixated, Susan. The ibox header here provides many gold plays.
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Sweet Arctec, nice play, the chart is telling me good times ahead imho!
ECLP - 21.03
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XIT.TO 7.30 - Friday's trading looks promising for techs, upcoming resistance test on yearly chart.
chart on previous reply
SVY.TO - 30.15
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WTN.TO - 3.92
Cup fill - resistance @ 4 & 4.50 -
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WTC. 14.85
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VYE.TO - 5.60
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That would've been sweet indeed! Wanted to get in but slept in on Friday and when I woke up oh well! Can't live in the past, lol!
FNI.TO - 1.82
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DSM.TO - 3.85 / DSM/WT.TO - 1.65
Will we see more on Monday?
Chart on previous reply
Stockmaster - thanks for posting those charts, interesting finds you have there!
IMN.TO nice break, you have a continuation buy here, would've liked more volume, but the sector is hot!
SGB.TO - trading sideways between 9-9.80 - resistance @ 10.00, very little volume the last two weeks.
Great board Onthego - BRA.TO/BIOM chart
US chart - used due to the higher volume it receives
Let's see if it can hold above the 200 MA, also will be starting Phase 3 drug trials for the lead candidate BLP-25.
http://www.biomira.com/
Seems like a double barrel action break; current resistance @ 1.60 area
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Thanks for the comments Onthego, I really appreciate them!
I've had your Canadian Drug Co. board earmarked for the past few days already ! Informative board also added them to the header here.
Here’s what I look for – Stockmaster
http://www.amazon.ca/exec/obidos/ASIN/1556236832/qid=1136767682/sr=8-2/ref=sr_8_xs_ap_i2_xgl14/701-0....
This book by Stan Weinstein has helped me shape my strategy. I recommend everyone to read it, you will not be disappointed.
I like buying at elevated prices, where key resistance points are passed with heavy unusual volume. Volume to me is the key tells if a breakout is to be trusted. Like buying also when the PPS is above the 200 MA. Also play chart formation, Cup and handle, double barrel action, symterical triangles, head and shoulders bottom, reversal wedges and etc. I also look to see if stock is trading in a channel. I recommend to pay attention to the set-ups GOK provides weekly. They are quite universal!
Stage 2: Advancing stocks is what I buy.
Here’s an example STAK – posted at 4.93 – I liked the long base, no near by resistance and also the heavy volume breakout
http://www.investorshub.com/boards/read_msg.asp?message_id=8663017
I look at stocks like this as described by Weinstein in his book
Stage 1 (The Basing Area) : Stage 1 is a time period where the stock fluctuates in a relatively narrow range. Little or nothing seems to be happening and the stock price will wander back and forth across the 200 day moving average. This period is generally called "base building".
Stage 2 (Advancing Phase) : Stage 2 is an advancing stage characterized by the stock rising above the 200 and 50 day moving averages. The stock may drop below the 50 day average and still be considered in Stage 2. Fundamentally, Stage 2 is triggered by a perception of improved conditions with the company.
Stage 3 (The Top Area) : Stage 3 is the "topping out" of the stock price action. Typically the price will begin to cross the 200 day moving average towards the downside, and the average may begin to round over on the chart. This is the time to take profits.
Stage 4 (The Declining Phase) : Finally, the Stage 4 decline begins. The stock price drops below the 50 and 200 day moving averages, and continues down until a new Stage 1 begins.
Hope this helps, and the key to sustain profits is to limit losses. I've learned a great deal from my mistakes and I'm always learning!
Hey duffgain
I actually sent them to your yahoo.com account, maybe you wasn't received. Just send them again. Tell me if you got them?
Hello stockmasterjgv,
Thanks alot, I saw a void for Canadian stocks on ihub so I created this board with the intention to hopefully gather up follow traders that deal with Canadian issues, so we can play off eachother. I've learned a great deal from all the posters here. I'm extremely happy how this board has turned out and must thank posters like yourself! I'm eager as well !
It'll be 2 years of trading for me come Feb. There isn't a place where I put my trades, I've been telling the board what issues I've been getting into lately, like TNX.TO (which I let go way too early) got into GBG.TO a couple of weeks ago and RBI.TO got in around 2.60 and holding TMG.V (don't know why). I'll look over the charts you posted when I get home and also tell you what I look for in charts, just at my girlfriend's place this weekend and I have to sneak away when she's not looking to log on! lol!
Duffgain - you got mail!