TYHEE DRILLS 8.2 METRES OF 12.46 GRAMS OF GOLD PER TONNE AT THE YELLOWKNIFE GOLD PROJECT, NWT CANADA
VANCOUVER, British Columbia (Thursday March 24, 2011) -- Tyhee Gold Corp. (TSX Venture, TDC) (the “Company”), a late stage development company, is pleased to announce that diamond drilling continues to expand the Main Zone at Clan Lake. In addition a second drill is completing infill drilling at the Ormsby Zone, providing more details in an area where only limited reserves had been defined in the positive Preliminary Feasibility Study released July 2010.
“The results from the Clan Lake Main Zone continue to be encouraging” reports Dr. Webb, President and CEO. “Gold mineralization continues to be developed to the east of the established resource and the company is testing its width at this point. The drill results include 13.0 metres (m) of 0.72 grams per tonne (gpt) gold in CL188, 8.0 m of 0.79 gpt gold including 2.0 m of 2.34 gpt gold in CL189.
The Ormsby drilling is targeting an area 270 metres north of the large open pit that was defined in the Preliminary Feasibility Study. In this location the mineralization, which primarily occurs on the eastern side of the volcanic rocks, is also found on the western side. To the north the entire volcanic pile hosts mineralization for a further 450 metres. Drill results include 41.0 m of 2.66 gpt gold including 8.2 m of 12.46 gpt gold in NDM565, 3.0 m of 3.72 got in NDM562 and 6.3 m of 1.87 gpt gold including 4.3 m of 2.40 gpt gold in NDM 563.”
Diamond drilling continues with two drills completing infill drilling on the Ormsby Zone north of the established reserves. In the near term one drill will be moved back to Clan Lake to complete expansion drilling of the resources north and southeast of the ore reserves established at Clan Lake and defined by the Preliminary Feasibility Study.
Tyhee Gold Corp. is actively moving its wholly-owned Yellowknife Gold Project towards production with a defined resource of 2 million ounces of gold in its Measured and Indicated categories and including a Proven and Probable Reserve of over 800,000 ounces of gold. A positive Preliminary Feasibility Study has been completed and applications to construct and operate a 3,000 tonne per day mine and mill complex have been submitted to regulatory authorities. Tyhee is moving towards the final stages of this review process with the submission of the environmental assessment study to occur within the next two months.
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.
Recent drill holes at Clan Lake, Yellowknife Gold Project
Recent drill holes at Ormsby Zone, Yellowknife Gold Project
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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.