TSX Venture: TDC
VANCOUVER, June 11 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC)
today announced that it has received permits to diamond drill on its
wholly-owned Clan Lake and Goodwin Lake Properties, 52 and 62 km north of
Dave Webb stated "These permits will allow Tyhee to drill test some of
the known gold showings on our exploration properties that appear to be
geologically similar to the Ormsby Zone. We are excited to check these targets
because the Ormsby Zone geology, which currently host to over 70% of the
measured and indicated gold resource for the Yellowknife Gold Project. Finding
similar geology on these properties significantly increases their potential to
host gold deposits. In addition, the Clan Lake Property already hosts a
600,000 ounce historic resource(1) which has been previously disclosed. Our
exploration program for 2007 will show how much of this resource can be
converted into an NI 43-101 compliant resource. Tyhee has contracted an
additional four senior geologists together with support staff to advance these
Permits for Tyhee's wholly-owned BigSky Property are pending.
A revised gold resource is nearing completion, incorporating data current
as of April 8, 2007. A Preliminary Economic Assessment is currently underway,
and is awaiting these resource numbers. The results of this work will be
released once they are received. Additional studies at the Nicholas Lake Main
Zone are expected to lead to a revised estimate for this gold resource which
will be completed later this year.
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
(1) A historic resource has been calculated by Borisova, O. and Trenaman,
R.T., 1998 and published. It is reported as historic fact, but is not
NI 43-101 compliant and therefore cannot be relied upon. It is
believed to be a global resource estimate, and no additional work is
currently available to support or refute this figure.
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,