TSX Venture: TDC
VANCOUVER, June 15 /PRNewswire-FirstCall/ - Tyhee Development Corp. (TSX Venture, TDC) (the "Company") is pleased to announce completion of the final ten drillholes from its spring drill program on the Yellowknife Gold Project.
Six more holes from Clan Lake were completed to the southeast to further test the continuation of the previously established 354,000 oz indicated resource. Results from these assays indicate a mix of higher grade intercepts within a broad low grade domain. These results finalize the spring drill program on Clan Lake which has consisted of 20 drill holes within and to the southeast of the current resource. Fifteen holes have indicated a continuity of mineralization to the established resource in both directions and cover a 200 metre (m) by 100 m area to a depth of 350 m. Recent results include CL157 which showed 40 m at 0.76 gpt, 6.5 m at 1.64 gpt and 14.3 at 1.07 gpt.
The four Ormsby drillholes were completed to test the geotechnical and hydrogeological conditions of an expanded open pit resource. It is notable that two drillholes (NDM560 and NDM561) completed to confirm the geotechnical characteristic of the waste rocks surrounding the Ormsby Zone encountered significant gold values in a geological setting similar to that of the original Discovery Mine (quartz veins in metaturbidites). This was unexpected and although the grades are sub economic, they are within the range of grades reported from stopes within the historic Discovery Mine. Further work will be required to confirm the significance of this discovery. A map showing the location of the drillholes is available on our website (www.tyhee.com).
"We are pleased with our progress at Clan Lake and have used the results from the spring diamond drill program to guide our summer program which is currently underway." said Dr. Dave Webb, President & CEO. In discussing the Ormsby drill results Webb stated "the discovery of mineralized quartz veins in metaturbidites is intriguing but will require more work to properly evaluate. The Discovery Mine produced one million tons of ore at a grade of one ounce per ton. Similar targets are always appealing, however their nuggety nature makes them very difficult to assess with a diamond drill. The fact that the new discovery falls within sections of the proposed Ormsby Zone pit that has been considered waste for planning purposes may enable us to exploit inexpensively as part of the mining process of that pit."
The Preliminary Feasibility Study is progressing normally and is scheduled to be received sometime in the next few weeks.
Tyhee Development Corp. is a gold exploration and development company working to start gold 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.
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.
Table 1 Recent Assay Results from Spring Drill Program at Clan Lake and the Ormsby Zone From To width Gold Grade DDH (metres) (metres) (metres) (gpt) CL156 82.0 89.0 7.0 1.95 incl 86.0 87.0 1.0 11.55 and 121.5 126.0 4.5 0.55 283.0 284.0 1.0 2.57 CL157 193.5 233.5 40.0 0.76 incl 193.5 200.0 6.5 1.64 and 219.2 233.5 14.3 1.07 and 219.2 221.5 2.3 3.54 and 305.0 309.0 4.0 0.76 and 341.0 344.0 3.0 1.18 CL161 56.0 57.0 1.0 4.21 CL164 298.1 314.0 16.0 0.48 incl 311 314 3.0 1.49 NDM558 159 175 16.0 0.42 incl 159 160 1.0 3.06 NDM560 136 137.4 1.4 2.08 and 406 441 35.0 0.81 incl 406 413.5 7.5 1.44 and 437 441 4.0 2.11 NDM561 12.1 14 1.9 1.20 CL160 and CL162 did not encounter significant gold mineralization.
SOURCE Tyhee Development Corp.