TSX Venture: TDC
VANCOUVER, Dec. 23 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC) (the "Company") has filed an NI 43-101 compliant report entitled "Report on the Resource Estimate of the Yellowknife Gold Project" by V. Pratico, December 23, 2009.
The report discloses a total Measured and Indicated Resource for the wholly owned Yellowknife Gold Project of 1.95 million ounces of gold in 17.5 million tonnes grading 3.47 gpt and an Inferred Resource of 269,000 ounces of gold in 2.5 million tonnes grading 3.29 gpt.
This represents a 100,000 ounce increase in resources on the Clan Lake Zone which was developed with less than $500,000 in expenditures. Dave Webb, President & CEO, stated "We are very pleased with the results from our summer and fall exploration program on Clan Lake. The development of 100,000 ounces at a cost of less than $5 per ounce supports our belief in and commitment to the Clan Lake Zone and the development of the Yellowknife Gold Project". Only one half of the known strike length has been drilled to date and the Company is scheduled to restart the three diamond drills on the property in January with proceeds from their recent financing.
Progress is continuing to being made on the Preliminary Feasibility Study and the results should be available within six months. Permitting work is progressing with completion of our Developer's Assessment Report to be completed within six months.
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, Ormsby, Goodwin Lake (13 km south of the Ormsby Zone), and the Clan Lake Zones (27 km south of the Ormsby Zone). All are centrally located on mineral claims and mining leases 50 to 90 km north of Yellowknife, NWT. (Note: only Nicholas Lake and Ormsby Zones are included for permitting purposes).
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, firstname.lastname@example.org; Envoy Strategic Partners, Jay Bedard, Tel: (647) 344-1768, email@example.com