TSX Venture: TDC
VANCOUVER, April 21 /PRNewswire/ - Tyhee Gold Corp. (TSXV: TDC) (the "Company"), a late stage development company, is pleased to announce that diamond drilling continues to delineate additional gold mineralization to the north of the reserves defined in the July 2010 Preliminary Feasibility Study.
"The results from the Ormsby Zone drill program enhance our resources in this area" reports Dr. Webb, President and CEO. "The Ormsby drilling is targeting an area 270 metres north of the large open pit that was defined in our Preliminary Feasibility Study. Drill results include 5.6 metres (m) of 2.89 grams of gold per tonne (gpt gold) including 3.0 m of 3.89 gpt gold in NDM566, 1.0 m of 15.12 gpt gold in NDM569 and 17.0 m of 1.05 gpt gold including 4.0 m of 2.45 gpt in NDM572."
Diamond drilling has been completed on the Ormsby Zone for this program. A drill remains at Clan Lake. It will be restarted after the break-up of the ice on the lakes and after the ground dries out enough to allow for overland operations with minimal environmental impact. Data from the Ormsby Zone drilling will be incorporated into the next resource calculation which will be completed later this year.
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 including a Proven and Probable Reserve of over 800,000 ounces of gold. A positive Preliminary Feasibility Study (at US$950 per ounce gold) 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 the review process with the submission of its environmental assessment study planned for May this year.
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 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 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 or to delay permit applications include factors such as analysis of the exploration results may lead to a determination that further exploration is not warranted, 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.
Recent drillholes at Ormsby Zone, Yellowknife Gold Project
True widths are estimated to be 80% of the reported widths.
SOURCE Tyhee Gold Corp.