Skip to content
Gold.jpg

TYHEE REPORTS A 39% INCREASE IN THE GOLD RESOURCE AT THE MAIN ZONE AT CLAN LAKE, YELLOWKNIFE GOLD PROJECT, NWT CANADA

VANCOUVER, British Columbia (December 1, 2009)-- Tyhee Development Corp. (TSX Venture, TDC) today announced a revised resource estimate for its Yellowknife Gold Project, representing a 39% increase in the Indicated Gold Resource at the Clan Lake Main Zone.

Tyhee is pleased to report an Indicated Resource of 3 million tonnes grading 3.64 gpt gold containing 354,000 ounces of gold in the Clan Lake Main Zone. This brings the total Measured and Indicated Resource for the Yellowknife Gold Project to 1.95 million ounces of gold plus an Inferred Resource of 269,000 ounces of gold.

The Yellowknife Gold Project includes five zones with gold resources on four properties north of Yellowknife, NWT. The Clan Lake Main Zone is one of nine gold zones within the 6.5 kilometre long Clan Lake Structure (the other eight gold zones do not host a reported NI 43-101 resource). The Main Zone has been drilled tested for 600 metres of strike length out of 1,300 m of exposed strike length. Drilling has tested shallow levels for the north-western third of the zone (averaging less than 100 m depth). The south-eastern half of the Main Zone has not been drilled.

“The potential at Clan Lake is only now being recognized” reports Dave Webb, President & CEO of Tyhee Development Corp. “The addition of 100,000 ounces of Indicated Gold to our resource is better than expected. This is a 39% increase in total contained gold resource and a 17% increase in the average grade at Clan Lake Main Zone. Given the much reduced exploration budget for 2009, this represents our lowest finding cost at less than $5 per ounce. We have very high expectations for our winter drill program which is planned to commence in late January.”

Progress continues on the Preliminary Feasibility Study and metallurgical samples are currently being processed. Permitting work continues in conjunction with the above mentioned study, focusing on the Ormsby and Nicholas Lake Zones.

Tyhee Development Corp. is a gold exploration and development company working in the historic Yellowknife Gold Camp, NWT, Canada. It is the largest property holder in this camp and has the largest exploration and development program underway in the region. Its principal asset is the Yellowknife Gold Project includes the Nicholas Lake and Ormsby Gold Zones, the Goodwin Lake Property (13 km south of the Ormsby Zone), and the Clan Lake Property (27 km south of the Ormsby Zone). All are located on mineral claims and mining leases 50 to 90 km north of Yellowknife, NWT. (Note: only Nicholas Lake and Ormsby Zones have been included for permitting purposes).

Tyhee completed fire assays on samples using 30 gram aliquots with ICP-ES finish for gold analyses (Group 3B), prepared at Acme Analytical Laboratories Ltd. in Yellowknife, and finished at Acme Analytical Laboratories Ltd in Vancouver. A semi-quantitative multi-element analysis is run on 0.5 gm aliquot samples leached in a hot aqua regia solution and measured using ICP-ES techniques (Group 1D). Tyhee conducts a rigorous QA/QC program of inserting blanks and duplicates in the field and standards in the laboratory. The laboratory also conducted their own independent QA/QC program including inserting their own standards and rerunning samples from pulped material and reject material. These results were provided to Tyhee. All standards, duplicates, blanks and check assays returned acceptable results. Mr. V. Pratico, P.Geol., the designated QP within the meaning of NI 43-101, has reviewed this release and approves of its content. The NI 43-101 report will be filed on www.sedar.com within 45 days of this release.

Tyhee’s shares trade on the TSX Venture Exchange under the symbol “TDC”.

Table 1. Yellowknife Gold Project Resource Summary

Zones
Measured
Indicated M + I
Inferred
Ormsby Zone
Tonnes
3,003,000
7,898,000
10,901,000
223,000
Grams/Tonne
3.41
3.42
3.42
3.14
Troy Ounces, Gold  329,000
869,000
1,198,000
23,000
Nicholas Zone
Tonnes
1,249,000
1,484,000
2,733,000
955,000
Grams/Tonne
3.81 3.32
3.54 3.92
Troy Ounces, Gold
153,000 158,000 311,000 120,000
Bruce Zone
Tonnes

791,000
791,000
396,000
Grams/Tonne
  3.31
3.31 2.76
Troy Ounces, Gold
  84,000
84,000 35,000
Clan Main Zone
Tonnes
  3,021,000
3,021,000  
Grams/Tonne
  3.64
3.64  
Troy Ounces, Gold
  354,000 354,000
Goodwin Vad Zone
Tonnes
      971,000
Grams/Tonne
      2.91
Troy Ounces, Gold       91,000
Resource Totals
       
Tonnes
4,252,000
13,194,000 17,446,000 2,545,000
Grams/Tonne
3.53
3.45 3.47 3.29
Troy Ounces, Gold
482,000
1,465,000 1,947,000 269,000
The Ormsby, Bruce, Goodwin Vad and Clan Main Zones are at a 1.25 gpt cutoff. The Nicholas Zone is at a 1.1 gpt cutoff.

The resource estimates are based on geological models for which the nature and orientation of the mineralization is derived from observation of underground and surface exposures and diamond drill core. The inclusion of geological data results in a more robust resource estimate. The resource estimates conform to National Instrument 43-101 policies. The cut-off grades utilized are reported without economic implications. Cut-off grades are supported by the report prepared for Tyhee Development Corp entitled “NI 43-101 Technical Report on the Preliminary Assessment of the Yellowknife Gold Project” dated August 30, 2008. Details for Ormsby, Nicholas Lake, Bruce and Goodwin are disclosed in a report prepared for Tyhee Development Corp entitled “Report on the Resource Estimate of the Yellowknife Gold Project ” dated March 4, 2009 available on www.SEDAR.com. Samples greater than 65 gpt gold were cut and reported as 65 gpt. Samples were composited into 1.5 m lengths. ID2 techniques were used to estimated 3m cubic blocks using an 80m x 40m x 10 m ellipsoid within a geological model that delineated brecciated and silicified rocks.

No economic viability is implied by the cut-off grades or the mineral resource estimates. Only Mineral Reserves as defined by National Instrument 43-101 have demonstrated economic viability. The mineral resource estimates will be affected by environmental, permitting, taxation, socio-economic, marketing, political, mining, metallurgical and infrastructure issues.


For further information, please contact:

Dave Webb
President and CEO
T: 604.681.2877
info@tyhee.com

Jay Bedard
Envoy Strategic Partners
T: 416.977.7778
jay@envoystrategicpartners.com


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to proposed or anticipated work programs and anticipated timing of permit applications. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. Factors which may lead the company to not proceed with anticipated work programs, construction or development projects and studies, to delay permit applications or delay the delivery of the feasibility study include factors such as analysis of the exploration results may lead to a determination that further exploration or development is not warranted, additional information requirements necessary to complete permit applications and the feasibility study may be delayed by weather and other constraints, insufficient funding, delays as a result of early or late onset of winter conditions, availability of personnel and equipment to conduct work programs, permit reviews, information requests and other factors not within the Company’s control. The factors identified above are not intended to represent a complete list of the factors that could affect the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forwardlooking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update forward-looking statements, except where required by law. Readers should not place undue reliance on forward-looking statements.

Back to Top
Powered by SiteCMTM web content management made easy by ideaLEVER Solutions.