Tyhee increases Yellowknife resources (March 07, 2005)

Vancouver — Tyhee Development‘s (TDC-V) has added resources from two gold zones at its wholly-owned, 64-sq.-km Yellowknife gold property, situated 90 km north of Yellowknife, N.W.T.

The new estimates are for the Ormsby and West zones, which lie about 2 km apart and are accessible from the past-producing Discovery mine.

At a cutoff grade of 1 gram gold per tonne, measured and indicated resources total 15.7 million tonnes averaging 3.6 grams gold per tonne, or 1.8 million contained oz. gold. A further 3.2 million tonnes grading 3.37 grams gold contain 343,000 oz. gold in the inferred category.

At a 3.5-gram cutoff for the same two zones, only Ormsby contains resources in the measured and indicated categories. These are pegged at 3 million tonnes grading 8.91 grams gold, for 862,000 oz. contained gold. A further 1.2 million tonnes at Ormsby grading 7.57 grams account for 298,000 oz. gold in the inferred category. The West zone hosts an inferred resource of 221,897 tonnes grading 9.81 grams gold for 70,000 oz. at the 3.5-gram cutoff.

Tyhee’s underground work allowed access to a wider, longer and more continuous portion of the Ormsby zone. The gold mineralization remains open between the two zones and at depth.

A previously reported resource in the nearby Nicholas Lake Main zone was calculated by consulting geologists D.G. Dupre and G.H. Giroux in 2003, at a cutoff of 5 grams gold. They estimated the zone contained 186,767 oz. gold within 612,000 tonnes grading 9.49 grams gold in the measured and indicated categories; another 210,000 tonnes grading 8.64 grams gold was inferred, containing 58,334 oz. gold.

Nicholas Lake lies some 8 km northeast of the Discovery mine area and hosts gold in altered, northeast-striking metavolcanic breccias that dip steeply to the northwest. The zones are often silicified and sulphidized, and are up to 20 metres wide and 100 metres long.

Tyhee aims to complete a prefeasibility study at Yellowknife. Engineering studies and baseline environmental work are under way and underground are operations set to restart soon.

Recent metallurgical studies confirm gold recoveries of over 94% using simple bulk cyanidation or flotation plus cyanidation techniques.