Grayd identifies three La India zones with potential
GYD
2004-02-17 20:19 ET - News Release
Mr. Marc Prefontaine reports
NEW ZONES IDENTIFIED AT LA INDIA PROJECT
Grayd Resource has disclosed that reconnaissance geological mapping has identified three new zones with gold potential on the Triple A portion of the La India project. These zones are in addition to the three previously reported high-sulphidation epithermal gold mineralization zones on the La India claim on which a geological mapping and sampling program is currently under way.
In the Los Puertos zone, located three kilometres southeast of the La India zone, a large area of advanced argillic alteration overlain by vuggy silica and pervasive silicification has been identified. The extent of the alteration zone has not been fully explored, but it is in excess of 700 metres long and 500 metres wide. The alteration mineral assemblages observed are characteristic of high-sulphidation epithermal gold systems. Alteration is similar to that associated with gold mineralization on the La India claim and as is described in the literature at Alamos Gold Inc.'s three-million-ounce Mulatos deposit located only seven kilometres from Grayd's property boundary.
At the Pinosa zone, located two kilometres farther south, a distinctive quartz-biotite-feldspar porphyry intrusive was found that is identical to that which is associated with mineralization in the La India zone. Quartz veinlets and zones of silica alteration were observed in the surrounding area, which has limited outcrop. Further geological mapping and sampling of this zone are currently under way to determine the potential for La India style gold mineralization at Pinosa.
The Alamillos zone is a new low-sulphidation style epithermal mineralization occurrence in the northeast part of the Triple A claim. The zone has been traced for 350 metres in an area of subdued topography and little outcrop. It is partially exposed in a new road cut and a five-metre-wide structure and a three-metre-wide structure with strong silicification, brecciation and pyrite were observed within altered volcanics. Abundant boulders containing variable amounts of quartz, magnetite and pyrite trace out the known strike extent of the zone. A program of detailed sampling, mapping and trenching will be required to fully evaluate the zone.
Assay results from preliminary sampling of all three zones are pending. Additional sampling is being undertaken on all three zones. A detailed mapping and sampling program will be undertaken if results are positive.
The identification of the three zones was the result of only a few days exploration. The speed of discovery was aided by the knowledge of the local prospectors from whom Grayd acquired the claims and attests to the potential of the area. In combination with the previously known gold mineralization at La India, the new zones give Grayd multiple targets for a large gold deposit. Grayd's personnel has yet to visit much of the project area.
The La India project comprises three partially contiguous claims (La India, La India 1 and Triple A) covering 7,068 hectares, in which Grayd has the right to acquire a 100-per-cent interest. Exploration is being undertaken under the supervision of Dr. Shane Ebert, PGeo, an independent qualified person under National Standard 43-101, and Hans Smit, PGeo, vice-president, exploration.
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