Grayd Strengthens Development Team
November 17 2009 - 6:30AM
Marketwired
Grayd Resource Corporation (TSX VENTURE: GYD) is pleased to
announce that it has entered into an exclusive consulting agreement
with Fred Lightner, P.E. for 2010. This agreement significantly
strengthens Grayd's evaluation and development capabilities on its
La India gold project in Mexico.
Mr. Lightner is a metallurgical engineer who has over 40 years
of experience in the mining industry, with the past 30 years
focused on precious metal and heap leach extraction gold mines. He
has held a variety of senior management positions including
President and Chief Executive Officer of Wharf Resources, which
operates a heap leach gold mine in South Dakota. Most recently, he
was Executive Vice President and Chief Operating Officer of
Metallica Resources, where he managed the development of the Cerro
San Pedro heap leach gold mine in Mexico from its initial
metallurgical testing through feasibility studies and engineering
design into construction. In addition to his work on the Cerro San
Pedro project, Mr. Lightner has conducted numerous economic and
technical evaluations on precious metal mines around the world.
Grayd Resources President and Chief Executive Officer Marc
Prefontaine said, "Grayd's management and Board are delighted to
have somebody of Fred's experience and reputation as part of
Grayd's team. I believe Fred's willingness to enter into an
exclusive consulting agreement with Grayd speaks to his confidence
in the potential of the La India project. His involvement will
undoubtedly add to Grayd's ability to advance the project."
During the past year Mr. Lightner consulted with Grayd on the La
India project, principally in the areas of metallurgical testing,
mineral processing and economic analysis. He was appointed to
Grayd's Advisory Committee in June 2009. (See Grayd Resources June
3, 2009, press release).
The La India gold project is located in the prolific Mulatos
gold belt of Mexico's Sonora state. The project has a NI43-101
compliant gold resource of 559,000 ounces grading 1.01 g/t in the
indicated category and 318,000 ounces grading 1.05 g/t in the
inferred category, all at a 0.5 g/t cut-off grade. The resource
consists of 17.2 and 9.4 million tonnes of indicated and inferred
material, respectively. This same district hosts Alamos Gold's
Mulatos mine, which produced 151,000 ounces of gold in 2008 and had
a reported a resource of 4.75 million ounce of gold at the end of
2008.
Grayd Resource is a growth-oriented junior natural resource
company focused primarily on identifying, exploring and developing
precious metal deposits. The Company's Officers and Directors are
very experienced in all aspects of mineral exploration, development
and production and have been involved in a number of successful
mining projects around the world over the past 20 years.
The information in this news release may contain forward-looking
statements. When used in this release, words such as "estimate",
"expect", "anticipate" and "believe" as well as similar expression
are intended to identify forward-looking statements. Such
statements are used to describe management's future plans, objects,
and goals for the Company and therefore involve inherent risks and
uncertainties. The reader is cautioned that actual results,
performance or achievements may be materially different from those
implied or expressed in such statements, which speak only as of the
date the statements were made. The Company does not update
forward-looking statements continually as conditions change.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
Contacts: Grayd Resource Corporation Marc A. Prefontaine
President and CEO (604) 681-7446 (604) 684-9877 (FAX)
www.grayd.com
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