TSX Venture: TDC
VANCOUVER, Aug. 14 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC)
today announced that its exploration team has identified a broad zone of
gold-bearing shear zones on its wholly-owned BigSky Property, extending north
of the Giant Yellowknife Mine leases in Yellowknife, NWT Canada.
"These shear zones are very similar to the Con, Campbell and Giant Shear
Zones that were mined in the past from the adjoining properties (past
production 14 million ounces of gold)," reports Dr. D. Webb, President and
Exploration crews have confirmed a 500 metre wide domain within which a
system of subparallel and anastomosing shear zones (chlorite carbonate
schists) occur. Individually these shear zones are up to 20 metres wide. The
shear zone system can be traced from our southern border with the old Giant
Mine leases to the north for a distance of more than 4 kilometres.
The shear zones contain quartz veins and silicified domains up to
3 metres wide and 100 metres long. These quartz veins are variably mineralized
with arsenopyrite, pyrite, chalcopyrite sphalerite and galena. Grab samples
collected from these shear zones by the property vendors show grades of up to
51 gpt gold (see NR. S 8, R 4, January 29, 2007).
Previous exploration in the area includes diamond drilling in 1945 and
1946, with no records of subsequent exploration until the current ownership.
Intersections of shear zones with quartz, sulphide and visible gold, up to
26 metres long (open to depth) have been reported in drillhole T46-46 (John
Anderson Thompson, 1946 Assessment Report). Mr. Thompson (1946) wrote, "The
shearing in the tuffs from 105.5 - 191.0 (32.15 metres to 58.21 metres) is
quite encouraging, occurring as it does, on what appears to be the same
shearing which gives good values in the pits (trenches) about 900 feet
(274 metres) north of this point. The fact that there was V.G. (visible gold)
in the core indicates that values accompany the silicification in the tuffs."
No assay results are reported in these assessment reports.
Dave Webb states, "We are very encouraged by the exposures seen to date,
which rival the historic exposures of the Con Shear Zone in terms of size and
exposed mineralization. Our senior geologists collectively have more than
100 years of experience in this belt and are very excited about this
discovery." The shear zones occur in the lowest formations of the Kam Group
and the immediate basement rocks. Detailed mapping and sampling is underway
along the 4 km strike-length identified to date and additional claims have
been staked. The shear zones become better developed, larger and apparently
more mineralized to the north as they enter the basement rocks to the Kam
Exploration crews have been refocused to concentrate on this large shear
zone system with the goal to identify prospective drill targets by the end of
October. The company has received permits to commence drilling and is planning
a substantial program on these targets as soon as possible. The size of the
target and its proximity to the historic past producers (adjoins the Giant
Yellowknife Mine Property to the south) and the hydroelectric power plant
(500 m to the east) is very encouraging.
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 historic camp, 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. Additional gold properties have been acquired
within the Yellowknife Gold Belt and exploration of these targets has
Dr. D.R. Webb, Ph.D., P.Geol., the designated QP within the meaning of NI
43-101, has reviewed this release and approves of its content.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
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.
For further information:
For further information: Tyhee Development Corp., David Webb, President
and CEO, Tel: (604) 681-2877, (toll free 1-866-681-2877), email@example.com; The
Equicom Group Inc., Michael Joyner, Tel: (416) 815-0700 ext 275,