TYHEE APPOINTS SRK CONSULTING TO LEAD FEASIBILITY STUDY ON ITS WHOLLY-OWNED YELLOWKNIFE GOLD PROJECT, NWT CANADA
VANCOUVER, July 11, 2011 /CNW/ - Tyhee Gold Corp. (TSXV: TDC) (the "Company"), an advanced stage development company, is pleased to announce the appointment of SRK Consulting as the lead Feasibility Study consultant on its wholly-owned Yellowknife Gold Project, NWT Canada.
The Feasibility Study will be managed for Tyhee by Brian Briggs, P.E., Vice President of Engineering and Project Manager. SRK will direct the Feasibility Study from its Denver Office with assistance from other North American SRK offices.
SRK will be joined in the development of the Feasibility Study by Knight Piésold Consulting for assistance with geotechnical, environmental, and engineering design associated with the Tailings Storage Facility and other water related structures as well as by Lyntek, Inc. who will provide process design and engineering associated with milling facilities and infrastructure.
The Feasibility Study is targeted to commence on July 11, 2011, and is expected to take less than twelve months to complete. Following completion, and assuming positive results, it is Tyhee Gold Corp’s intention to immediately move ahead with financing and construction of the Yellowknife Gold Project. The company’s current management team has significant past experience in all phases of finance and project construction. With multiple past projects collectively completed the management team is confident of a seamless transition to production.
Dr. David Webb, CEO of Tyhee Gold Corp was quoted as follows: “The appointment of these internationally recognized consulting firms will bring a wealth of world-wide experience in mining, geology, processing, mineral economics and environmental disciplines and is a significant milestone in the development of the Yellowknife Project. All three firms chosen to team with Tyhee management have considerable experience in Arctic and Sub-Arctic regions and can use their knowledge to assist Tyhee in developing its projects in ways that are both environmentally sensitive and maximises shareholder value.”
Tyhee Gold Corp. is actively moving its wholly-owned Yellowknife Gold Project towards production. A full environmental assessment report was submitted to the regulatory authorities on May 11, 2011 as part of the process to permit the construction and operation of a 3,000 tonne per day mine and mill complex. The EA review process is expected to conclude concurrently with the Feasibility Study.
SRK Consulting is an independent, international consulting practice that provides focused solutions to mining clients and encompasses exploration through feasibility, mine planning, production and mine closure. Formed in Johannesburg, South Africa, in 1974 as Steffen Robertson and Kirsten, SRK now employs more than 1000 professionals internationally in over 40 offices worldwide.
SRK Consulting has extensive experience in designing open pit and underground mining operations in remote, cold weather locations. SRK has been involved in over 70 projects in northern Russia, Sweden, Finland, Canada and Alaska.
Knight Piésold is an international consulting company with offices around the globe providing engineering and environmental services to the mining industry over the past 90 years. Knight Piésold combines the integrated efforts of over 650 experienced professionals to deliver high quality specialized services and innovative solutions that respect social, environmental, and economic responsibilities.
Knight Piésold has extensive experience in siting, design, permitting, construction support, monitoring, and closure of tailings storage facilities for a wide variety of climatic and seismic conditions. Knight Piésold has been involved in the design of tailings management facilities for over 400 mining projects and has extensive experience with all types of tailings management systems including those in Arctic regions.
Lyntek, Inc., based in Lakewood Colorado, offers a full range of engineering and construction services to the natural resources industries providing services from process engineering and feasibility studies through detailed engineering, procurement, construction management, and plant start-up. Lyntek projects have ranged all over the globe, and have been developed on all seven continents including projects in Arctic and sub-Arctic regions. Lyntek specializes in projects that are challenging either due to complexity, a remote location, or a compressed development schedule.
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President and CEO
Envoy Strategic Partners
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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.