TYHEE CONTINUES TO EXPAND ITS WHOLLY-OWNED YELLOWKNIFE GOLD PROJECT, NWT, CANADA
VANCOUVER, British Columbia -- Tyhee Gold Corp. (TSX Venture: TDC) (the “Company”) announces that it has received initial results from its 3,000 metre (m) diamond drill program at Clan Lake, extending the Main Zone 500 m east of the previously reported resource area where it remains open to expansion (see table and map below). Recent results include 13.0 m grading 1.49 grams of gold per tonne (gpt) in CL198 and 1.0 m grading 14.06 gpt in CL200.
“The initial results show that the Main Zone continues to be open to the southeast. The final 15drillholes in this program were focused on defining the mineralization near the establishedresource to allow for inclusion in a revised resource estimate that will be incorporated into the Feasibility Study,” reports Dr. Dave Webb, President & CEO. “The remaining drillholes have been completed, are being processed, and will be reported over the next 4 to 8 weeks. Operations have been suspended for freeze-up.”
Tyhee Gold Corp. is actively moving its wholly-owned Yellowknife Gold Project towards production. A Feasibility Study, lead by SRK Consulting, is underway and expected to be completed by mid-2012. It will build on the positive Preliminary Feasibility Study completed in July 2010, which recommended operating at 3,000 tonnes per day. The Feasibility Study will also consider an expanded resource as well as other updated inputs, including a more current gold price.
Recently completed diamond drillholes from Yellowknife Gold Project.
Tyhee’s shares trade on the TSX Venture Exchange under the symbol “TDC”. For additional information, please browse our website or visit, www.sedar.com.
Tyhee completes fire assays on drill core samples using 30 gram aliquots with ICP-ES finish for gold analyses. Samples are prepared at Acme Analytical Laboratories Ltd. in Yellowknife, and finished at Acme Analytical Laboratories Ltd in Vancouver. As well, a semi-quantitative multielement 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 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.
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GT Investor Relations Inc.
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Envoy Strategic Partners
President and CEO
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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.