Tyhee Starts Diamond Drill Program On Yellowknife Gold Project, NWT, Canada
TSX Venture: TDC
VANCOUVER, Aug. 3, 2011 /PRNewswire/ - Tyhee Gold Corp. (TSXV: TDC) (the "Company") announces that it has started a 3,000 metre diamond drill program on the Yellowknife Gold Project. The program is designed to develop the Clan Lake Main Zone resource by expanding on and improving the gold mineralization discovered along strike of the Main Zone. The drilling will also supply geotechnical information and allow for improvements in the design of any potential pits for this resource.
Diamond drilling this year extended the Main Zone (354,000 ounces of Indicated gold Resource), by 500 metres to the southeast, with intersections of 13.0 metres (m) of 0.72 grams per tonne (gpt) gold in CL188, and 8.0 m of 0.79 gpt gold including 2.0 m of 2.34 gpt gold in CL189.
"The initial results show that the Main Zone has potential to expand to the southeast and the current drill program will focus on defining the extent of this mineralization to allow for its inclusion in a revised resource estimate that will be incorporated into the Feasibility Study currently underway." Reports Dr. Dave Webb, President & CEO. "Additional targets at Clan Lake will be assessed so that the development of the known additional zones will occur in a systematic fashion."
Tyhee Gold Corp. is actively moving its wholly-owned Yellowknife Gold Project towards production. A Feasibility Study is underway, lead by SRK Consulting, and is expected to be completed by mid 2012. It will build on the positive Preliminary Feasibility Study completed in July 2010 that recommended operating at 3,000 tonnes per day, (www.sedar.com). The Feasibility Study will consider an expanded resource, more current gold price as well as other updated inputs.
Tyhee's shares trade on the TSX Venture Exchange under the symbol "TDC". For additional information, please visit the Company's website, www.tyhee.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.
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 forward-looking 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.
| Yellowknife Gold Projects Mineral Resources1 | ||||||
| Category | Ormsby Zone | Nicholas Lake Main Zone | Bruce Lake Zone | Clan Lake Main Zone | Goodwin Lake Vad Zone | Total Resources |
| Measured | ||||||
| Tonnes | 3,003,000 | 1,249,000 | - | - | - | 4,252,000 |
| Grams Gold per Tonne | 3.41 | 3.81 | - | - | - | 3.53 |
| Troy Ounces, Gold | 329,000 | 153,000 | - | - | - | 482,000 |
| Indicated | ||||||
| Tonnes | 7,898,000 | 1,484,000 | 791,000 | 3,021,000 | - | 13,194,000 |
| Grams Gold per Tonne | 3.42 | 3.32 | 3.31 | 3.64 | - | 3.45 |
| Troy Ounces, Gold | 869,000 | 158,000 | 84,000 | 354,000 | - | 1,465,000 |
| Measured and Indicated | ||||||
| Tonnes | 10,901,000 | 2,733,000 | 791,000 | 3,021,000 | 17,446,000 | |
| Grams Gold per Tonne | 3.42 | 3.54 | 3.31 | 3.64 | 3.47 | |
| Troy Ounces, Gold | 1,198,000 | 311,000 | 84,000 | 354,000 | 1,947,000 | |
| Inferred | ||||||
| Tonnes | 223,000 | 955,000 | 396,000 | - | 971,000 | 2,545,000 |
| Grams Gold per Tonne | 3.14 | 3.92 | 2.76 | - | 2.91 | 3.29 |
| Troy Ounces, Gold | 23,000 | 120,000 | 35,000 | - | 91,000 | 269,000 |
1 From "Technical Report On The Pre-Feasibility Study Of The Yellowknife Gold Project Northwest Territories, Canada July 2010 " Mineral Resources are in part inclusive of Mineral Reserves and comply with NI 43-101 standards. Mineral Resources for Ormsby, Bruce, Goodwin Vad and Clan Main Zones are at a 1.25 gpt cut-off. The Nicholas Lake Zone is at a 1.1 gpt cut-off. Samples greater than 65 gpt gold were cut and reported as 65 gpt. Samples were composited into 1.5 m lengths. Inverse distance squared techniques were used to estimate 3 m cubic blocks using an 80 m x 40 m x 10 m search ellipsoid within a geological model that delineated brecciated and silicified rocks for Ormsby, Bruce Lake, Goodwin Lake VAD, and Clan Lake Main Zones. An inverse distance squared interpolation method is used for Nicholas Lake where two solids have been created which divide the resource limits into the east and west domains. Composites are created at 1.5 m lengths down the hole and composite values are not capped. The block model is created with blocks 5 x 5 x 1.5 meters with the 1.5 meter distance oriented north and in the horizontal plane. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability, and except as reported, there is no guarantee that any resource will become a reserve.
SOURCE Tyhee Gold Corp.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article