- Published: 28 October 2008
- Written by Editor
Tyhee reports 25% increase in the measured and indicated gold resource for the Yellowknife Gold Project, NWT, Canada
Tyhee Development Corp. (TSX-V: TDC) (the "Company") today announced a revision to the Yellowknife Gold Project NI 43-101 resource estimate for the Ormsby and Bruce Lake zones that was previously announced on April 3, 2008. The new resource incorporates approximately 25,000 m of new drilling. The Measured and Indicated gold resource has increased by 25% to 1,593,000 ounces of gold, a net increase of 324,000 ounces of gold that includes the upgrading of 196,000 ounces of inferred gold from the April 3, 2008 resource, and an increase of 128,000 ounces of gold from the new drilling.
"The 324,000 ounces of measured and Indicated gold represents a significant increase in Tyhee's resource at the Yellowknife Gold Project," said Dr. Dave Webb, Tyhee's President and CEO. "This increase is largely due to targeted drilling within the Ormsby and Bruce Lake zones that was carried out during 2007 and the spring of 2008. Together with the resource increase announced on April 3, 2008 (NR S.9, R.6) Tyhee has maintained an average annual resource growth profile of 200,000 to 250,000 ounces of gold per year since 2003."
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Table 1. Gold Resource on Yellowknife Gold Project (October 28, 2008).
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Ormsby Nicholas Bruce Total
Category Zone Main Zone Zone Resource
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Measured
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tonnes 3,003,000 1,249,000 4,252,000
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gold grade (gpt) 3.41 3.81 3.53
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ounces of gold 329,000 153,000 482,000
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Indicated
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tonnes 7,898,000 1,484,000 791,000 10,173,000
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gold grade (gpt) 3.42 3.32 3.31 3.40
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ounces of gold 869,000 158,000 84,000 1,111,000
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M&I
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tonnes 10,901,000 2,733,000 791,000 14,425,000
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gold grade (gpt) 3.42 3.54 3.31 3.43
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ounces of gold 1,198,000 311,000 84,000 1,593,000
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Inferred
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tonnes 223,000 955,000 396,000 1,574,000
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gold grade (gpt) 3.14 3.92 2.76 3.52
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ounces of gold 23,000 120,000 35,000 178,000
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Ormsby and Bruce Zones at 1.25 gpt cut-off are revised and presented
here.
Nicholas Lake Main Zone at 1.1 gpt cut-off has been reported previously.
Figures are rounded for presentation
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The Ormsby and Bruce Lake resource was calculated using inverse distance squared estimations of 3 m cubic blocks constrained by geology. A search ellipsoid of 90 x 60 x 30 m was employed. All assays are composited into 1.5 m lengths, and composites have a top-cut of 100 gpt gold. The Nicholas Lake resource was reported April 3, 2008 (NR S.9, R.6) and was calculated using inverse distance squared estimations of 1.5 x 5 x 5 m blocks located in two domains. A search ellipsoid of 50 x 34 x 5 m at elevations above 100 m and 60 x 40 x 5 m below this elevation was employed.
Ormsby and Bruce Lake Geology
The Ormsby and Bruce Lake deposits are exposed over 2.6 km on surface, in the Ormsby decline, in subdrifts, in crosscuts and in drill core. Gold mineralization occurs in association with sulphides and silicification in weakly foliated but strongly lineated brecciated metavolcanic amphibolite.
Nicholas Lake Main Zone Geology
A 300 m by 200 m leucocratic felsic intrusive of quartz diorite to granodiorite composition is the host for the Nicholas Lake gold deposit. Auriferous quartz-sulphide veins occur in a shear zone within, and on the southern margin of the intrusion. Gold is closely associated with fractures and open space fillings in sulphides or alone within quartz. Scheelite occurs throughout the granodiorite in concentrations of up to 20,000 ppm tungsten. Underground development allowed access at approximately 90 metres below surface.
About Tyhee Development Corp.
Tyhee Development Corp. is a gold exploration and development company currently focused on the historic Yellowknife Gold Camp, NWT, Canada. It is the largest property holder in the belt, and has the largest exploration and development program underway in the region. Its principal asset is the advanced-stage Yellowknife Gold Project, which consists of 6,625 hectares (15,481 acres) of mining leases located 90 km (56 miles) north of Yellowknife, NWT, Canada. A Preliminary Assessment released on July 17, 2008 (NR S.9, R.11) demonstrated positive economics. Additional gold properties have been acquired within the Yellowknife Gold Belt and exploration of these targets has confirmed significant gold values over multiple metres on two of the three grassroots properties reported. An aggressive drill program has been completed and assays will be released as they are received and compiled. As reported in NR S.9, R.18, (October 17, 2008) all drills remain on the property but are currently inactive.
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 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.
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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.
SOURCE: Tyhee Development Corp.
Tyhee Development Corp., David Webb, President and CEO, Tel: (604) 681-2877, (toll free 1-866-681-2877), This email address is being protected from spambots. You need JavaScript enabled to view it.; The Equicom Group Inc., Tom McMillan, Tel: (403) 536-5903, This email address is being protected from spambots. You need JavaScript enabled to view it.
