Tyhee Development Corp provides Pre-feasibility Guidance and Exploration Update on the Clan Lake Zone, Yellowknife Gold Project, NWT, Canada
VANCOUVER, British Columbia (Monday April 19, 2010) -- Tyhee Development Corp. (TSX Venture, TDC) (the “Company”) provides the following update on its 100% Yellowknife Gold Project, NWT, Canada.
Two new holes reported here, CL146 and CL147 along with the three previously reported drillholes (3.74 grams of gold per tonne (gpt) over 7.5 metres (m) in CL144, 9.62 gpt over 2.2 m in CL143) test a gap in the existing resource. Substantial silver occurs with some of the gold assays, such as CL146 which obtained 8.5 gpt gold and 78.8 gpt silver over 1 metre (from 41.5 to 42.5m). Four diamond drillholes drilled to the southeast of the established resource and demonstrate that broad areas of low grade gold mineralization extend for several hundred metres beyond the established resource (CL148 and CL150). CL149 and CL151 were drilled at the southern extremity of the projected Main Zone and appear to limit the width of the Main Zone in this direction. A table of the newly reported drillhole results appears at the end of this release, and a map showing the drillhole locations is appended or is available with this release at www.tyhee.com.
“The recent results demonstrate that the Clan Lake Main Zone continues to the southeast for an additional 200 m.” reports Dave Webb, President & CEO. The drillholes, while extending the Main Zone, appear to have lower grades than the overall deposit. “We are confident that the balance of the drilling already completed and being processed will determine if this is an isolated pocket of lower-grade material or a general trend.” says Webb. “The surface results suggest the former.”
In addition Tyhee has completed its winter road activities, resupplying its camp with 450,000 litres of diesel fuel, propane, and other bulk materials. The winter road has been shutdown and two self-propelled diamond drills are at Clan Lake. Operations are suspended for breakup with drilling expected to restart as soon as possible this spring.
A total of 1,485 metres has been completed in 16 drillholes on the Ormsby Zone and 7,140 metres in 21 drillholes Clan Lake Main Zone, for this part of the program. Reporting will continue over the next few weeks as only 9 of the 21 holes have been reported leaving 12 holes that are being processed or are in the lab for analysis.
Tyhee is on schedule for the completion of its Preliminary Feasibility Study within the next six to eight weeks. Metallurgical locked cycle tests on composite ore samples blended from the principal zones to simulate operating conditions have been completed and confirm previous results. Quotes on capital items are being gathered. Tailings products for ongoing environmental studies including cyanide destruction tests and humidity cell studies are being studied.
Tyhee Development Corp. is a gold exploration and development company working to start production 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, the Yellowknife Gold Project includes the Nicholas Lake, Ormsby, Bruce, Goodwin Lake, and Clan Lake Gold Zones. All are located on mineral claims and mining leases 50 to 90 km north of Yellowknife, NWT and are expected to feed a single milling
operation. (Note: only Nicholas Lake and Ormsby Zones are being included for permitting purposes).
Tyhee completed fire assays on drill core samples using 30 gram aliquots with ICP-ES finish for gold analyses, 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. Tyhee conducts a rigorous QA/QC program of inserting blanks and duplicates in the field and standards in the laboratory. The laboratory conducts 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. Val Pratico, P.Geol., the designated QP within the meaning of NI 43-101, has reviewed this release and approves of its content. A portion of the work reported herein has been funded by MineralFields Group through a private placement.
Recent assay results from current drill program at Clan Lake
|Gold Grade (gpt)
CL149 and CL151 did not encounter significant gold mineralization.
1 Drilled into the “Gap” area
2 Drilled to the southeast of the Main Zone
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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.