TSX Venture: TDC
VANCOUVER, Feb. 4 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC) today announced the winter road from Yellowknife to its Discovery Camp has been installed and is accessible for light trucks. This has enabled the Company to start drilling on the Clan Lake Main Zone.
"The winter road allows us to resupply our camp and provides easy access and mobility to our drill sites" reported Dave Webb, President & CEO. "We are operating with one diamond drill at Clan Lake with two additional drills available in mid to late February. The widths and grades of the gold mineralization identified in previous drilling on the Clan Lake Main Zone, together with the additional 700 metres of the Main Zone that was mapped and sampled from surface but not drilled, supports this aggressive program."
We expect to complete approximately two drillholes per week per drill rig assuming normal operating conditions, with assays to be received four to six weeks after the hole is completed (assuming normal logging and sampling performance). The on site assay lab will not be started during the winter road season as the samples can be driven directly to Acme Analytical Laboratories facilities in Yellowknife on an as needed basis.
Diamond drilling at the Ormsby Zone is near completion with the work focused on testing sites for building foundations and other infrastructure as well as two combined exploration/engineering drillholes. Permitting work continues in conjunction with the above mentioned program, focusing on the Ormsby and Nicholas Lake Zones.
Tyhee Development Corp. is a gold exploration and development company working 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 is the Yellowknife Gold Project which includes the Nicholas Lake and Ormsby Gold Zones, the Goodwin Lake Zone (13 km south of the Ormsby Zone), and the Clan Lake Zone (27 km south of the Ormsby Zone). All are located on mineral claims and mining leases 50 to 90 km north of Yellowknife, NWT. (Note: only Nicholas Lake and Ormsby Zones have been included for permitting purposes).
About MineralFields, Pathway and First Canadian Securities (R): MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver, Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(R) (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flowthrough and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities(R).
Tyhee's shares trade on the TSX Venture Exchange under the symbol "TDC".
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forwardlooking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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.
SOURCE Tyhee Gold Corp.
For further information: For further information: Tyhee Development Corp., David Webb, President and CEO, Tel: (604) 681-2877, email@example.com; Envoy Strategic Partners, Jay Bedard, Tel: (416) 977-7778, firstname.lastname@example.org