TYHEE PROVIDES UPDATE ON YELLOWKNIFE GOLD PROJECT, NWT CANADA
VANCOUVER, British Columbia (January 27, 2010) -- Tyhee Development Corp. (TSX Venture, TDC) today announced:
1. Installation of the 2010 winter road has commenced
2. Diamond drilling at the Ormsby Zone has commenced
3. Initial metallurgical results from Clan Lake are positive
Construction of the winter road to Tyhee’s Camp commenced last week due to generally cold winter conditions. It is expected that the road will be passable for light trucks within a week to ten days and will be used to resupply the camp and provide logistical support for the drills at Clan Lake. Increasingly heavy vehicles will be permitted as the ice thickness increases.
Diamond drilling at the Ormsby Zone was initiated last week to complete the geotechnical holes required for the preliminary feasibility study. The work is focused on testing sites for building foundations and other infrastructure. In addition, two combined exploration/geotechnical holes are planned to assess the geotechnical conditions of the proposed pit walls and will commence near the end of the month.
The initial results of the current metallurgical program (which is ongoing) match earlier test work to show high overall gold recoveries ranging from 90% to 97% for all zones. This test work uses conventional crush and grind, followed by three sequential recovery techniques, gravity, flotation, and cyanidation. Gravity recoverable gold for the Ormsby Deposit showed a range of 39 to 71% and 27 to 59% for Clan Lake with flotation and cyanidation raising overall recoveries into the mid to upper ninety percent range. The Clan Lake Main Zone appears to be metallurgically similar to the Ormsby Zone.
“We are pleased with the progress of our development of the Yellowknife Gold Project” reported Dave Webb, President & CEO. “The winter road will allow us to resupply our camp, as well as to easily access our drill sites this winter. The work at Ormsby will be used to complete portions of our preliminary feasibility study due sometime in Q2 of this year. We currently have a diamond drill at Clan Lake which will be started once winter road access is well established. We intend to drill both within the existing 354,000 ounce resource, as well as along strike to the east. In addition, the overall metallurgical results are very good, with the initial test work on the Clan Lake Main Zone, the first modern metallurgical work completed on this deposit, to be very encouraging.”
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 which includes the Nicholas Lake and Ormsby Gold Zones, the Goodwin Lake Zone (13 km south of the Ormsby Zone), and the Clan Lake Zone (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).
All metallurgical test work has been completed at Process Research Associates in Richmond, B.C. Head and product analyses have been completed by Inspectorate, Vancouver, ALS Chemex, North Vancouver, and Acme Analytical Laboratories, Vancouver. Dr. D.R. Webb, P.Geol., the designated QP within the meaning of NI 43-101, has reviewed this release and approves of its content.
Tyhee’s shares trade on the TSX Venture Exchange under the symbol “TDC”.
For further information, please contact:
President and CEO
Envoy Strategic Partners
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.