Tyhee Development Corp Reports a 200 Metre Extension of Gold Mineralization
on the Clan Lake Main Zone, Yellowknife Gold Project, NWT, Canada
TSX Venture: TDC
VANCOUVER, May 19 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC) (the "Company") is pleased to announce the extension of the known mineralization on its Clan Lake Main Zone, Yellowknife Gold Project.
Tyhee has confirmed mineralization in five of six drill holes completed 100 to 200 metres east of the current Clan Lake Main Zone Resource (Currently reported at 354,000 ounces of Indicated Gold). Broad areas of low-grade mineralization were encountered in the three northern-most drillholes and include 30 metres (m) of 0.50 grams of gold per tonne (gpt gold) and 66 m of 0.45 gpt gold in CL153 and 47m of 0.48 gpt gold and 38.5 m of 1.34 gpt gold in CL159. Higher-grade intercepts occur within these broad areas and feature 6.0 m of 2.43 gpt gold, 3.0 m of 4.30 gpt gold, 2.0 m of 4.79 gpt gold, 4.0 m of 3.73 gpt gold and 9.5 m of 2.05 gpt gold, all in CL159 which also had an isolated intersection of 1.0 m of 28.00 gpt gold. It should be noted that two holes ended in mineralization at depth and visible gold was noted in many instances. All mineralization is associated with silicified, sericitized and sulphidized rocks.
A table of the newly reported drillhole results appears at the end of this release, and a map showing the drillhole locations is appended or is available with this release at www.tyhee.com.
"We are pleased to see the Main Zone continue and with such good widths and large intersections. The recent results demonstrate that the Clan Lake Main Zone continues to the southeast for an additional 200 metres (m), over a minimum width of 100 m and to depths exceeding 350 m." reports Dave Webb, President & CEO. "The northern-most drillholes in this release generally contain greater grades and widths than the drillholes located in the southern portion of the Main Zone. This trend is consistent with the previously released drillholes."
Tyhee's Spring drill program has included 485 metres completed in 16 drillholes on the Ormsby Zone and 7,140 metres in 21 drillholes on the Clan Lake Main Zone. Reporting will continue over the next few weeks as 6 diamond drillholes remain to be reported.
Management confirms the expected completion of its Preliminary Feasibility Study within the next month. Pit optimization work and owner-operated equipment versus contract mining trade off studies continue.
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. Michael Regular, 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 Current Drill Program at Clan Lake
From To Width Gold Grade
DDH (metres) (metres) (metres) (gpt)
CL152 184.4 185.5 1.2 1.22
AND 227.4 231.0 3.6 1.23
CL153 225.0 255.0 30.0 0.50
incl 241.5 252.0 10.5 0.83
AND 285.0 351.0 66.0 0.45
incl 294.0 295.5 1.5 2.64
CL155 117.5 119.0 1.5 2.27
AND 215.0 249.5 34.5 0.38
incl 215.0 236.0 21.0 0.48
incl 215.0 216.5 1.5 2.28
incl 234.5 236.0 1.5 2.30
AND 348.5 350.0 1.5 1.74
CL158 176.5 177.5 1.0 2.44
CL159 99.0 105.0 6.0 2.43
incl 102.0 105.0 3.0 4.30
AND 145.0 147.0 2.0 4.79
AND 199.0 246.0 47.0 0.48
incl 199.0 201.0 2.0 1.55
incl 207.0 208.0 1.0 3.78
incl 226.8 234.0 7.3 1.35
incl 226.8 228.0 1.3 4.36
AND 311.0 312.0 1.0 28.00
AND 411.0 449.5 38.5 1.34
incl 427.0 431.0 4.0 3.73
incl 440.0 449.5 9.5 2.05
CL154 did not encounter significant gold mineralization.
For further information: Tyhee Development Corp.: David Webb, President and CEO, Tel: (604) 681-2877, [email protected]; Envoy Strategic Partners: Jay Bedard, Tel: (416) 977-7778, [email protected]
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