La India Property Overview
Target: A multimillion-ounce open pit heap leach gold operation.
Property
- Located 7 km northwest of Alamos Gold's 3 million Mulatos mine
- Project area covers 263 square kilometers
- Grayd is the second largest land holder in the Mulatos gold belt after Alamos Gold
- Grayd has right to acquire 100%
Highlights
- Updated resouce calculated February 2009
- Over 80% is Oxide Material
- Low strip ratio
- Good heap leach recoveries
- Numerous exploration targets that extends for 10 km along the regional strike
- Continuous drilling with over 50,000 meters since 2007
Resource
In February 2009 the resource was expanded to include at a cut-off of 0.5 g/t Au, an indicated resource of 559,000 ounces (17.4 million tonnes at a grade of 1.01g/t Au) and inferred resource of 318,000 ounces (9.4 million tonnes at a grade of 1.05g/t Au). Based on the relative volumes of different rock types in the current resource and the results of recent and 2008 tests, an average gold recovery in the range of 80% to 84% is indicated for a heap leach processing operation at La India. These recoveries combined with the relatively low estimated cyanide and lime consumptions and an estimated stripping ratio of 0.35:1 (waste to ore) are very positive factors for potential project economics.
Recent exploration work has expanded the North Zone over 250 meters to the west of the current resource (more than doubling the width of the zone). In addition, a new zone has been discovered called the La India Zone. Mineralization here has been defined over a 150 by 200 meter area by recent drilling (highlighted by an 86.9 meter intersection averaging 1.05g/t gold). Surface mineralization in this new zone extends over an additional 750 by 400 meter area.
43-101 Resource Report (Feb, 2009)
Tarachi Property Overview
Target: A high sulphidation epithermal gold deposit amenable to open pit mining and heap leaching.
Property
- Located 1.5 km north of the La India Project
- Project area covers 1553 hectares
Highlights
- Rock types and alteration are similar to those seen at La India and at Alamos Gold's multi-million ounce Mulatos mine.
- Classic epithermal high sulphidation geological setting and mineralization.
- 1,000 m east-west by 450 m north-south zone of silica and silica-clay alteration with historic workings
- Rock chip samples from 0.01 to 6.5 g/t Au
- Grayd has the right to acquire a 100% interest in the project
Alteration is exposed over a 160 m vertical extent from the valley floor to where it is capped by post-mineral rhyolite volcanic formation, indicating potential for a large bulk-mineable deposit. The zone appears to continue to the west underneath the rhyolite, presenting an exploration model for a high-grade gold zone similar to that developed at the top of the Escondida deposit at Mulatos.
Mapping and sampling on the property are now underway.
La India Property Maps
La India Drill Intercept Summary
La India, Sonora, Mexico 
