Hi choad, Fyi.... now all we need is for La India to show us the money! <vbg>
Grayd and Gold Reach Announce Successful Conclusion to Initial Drill Program on Seel; Last Hole Extends Copper-Gold Discovery
Thursday February 10, 8:32 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 10, 2005) - Grayd Resource Corporation (TSX VENTURE:GYD - News) and Gold Reach Resources Ltd. (TSX VENTURE:GRH - News) are pleased to announce assay results from the last hole of their highly successful initial drill program on the Seel property in central British Columbia. Hole S05-9 intersected 104.9 m grading 0.27% Cu and 0.20 g/t Au (including 74.9 m grading 0.30% Cu and 0.23 g/t Au). Hole S05-9 was collared 100 metres southeast of discovery hole S04-4 (148 m grading 0.29% Cu and 0.27 g/t Au) and 120 m south of hole S05-8 (102.1 m grading 0.44% Cu and 0.48 g/t Au).
S05-9 was drilled in the same location as S05-7 which was lost due to drilling problems shortly after reaching bedrock. Four holes have now been completed to depth in the newly discovered copper-gold porphyry system (holes, 3, 4, 8 and 9). All have continuous mineralization over extensive widths as summarized in the attached table. Copper-gold mineralization has now been defined over an area 160 metres in an NW-SE direction and 100 metres along strike in a NE-SW direction and is open in all directions. The 1.2 km long, still open, IP anomaly shows potential for a large deposit.
This first phase of diamond drilling at Seel is now finished with nine holes totalling 1,630 metres. All but one of the nine holes had significant intersections, a high success ratio for an initial drill program. The new copper-gold porphyry discovery provides the best target for immediate follow-up. However, there are numerous other areas of potential on the property which warrant comprehensive exploration, including, but not limited to, further drilling around the copper-molybdenum mineralization intersected in S04-6 and in the area of the Seel Breccia. The IP anomaly remains open along strike and most of the known 7 km long area on the property exhibiting extensive alteration and sulphide mineralization remains virtually untested. The diamond drill has been left on the property to allow a quick start to the next phase of drilling.
Market Data 
Markets 
AI
