Sunday 11th December 2016

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Tyhee President David Webb on NWT assays of 6.68 g/t gold over 2.5m

“The Yellowknife Gold Project is quite advanced. We’ve completed prefeasibility, and we’ve filed for permits to start production. We have two million ounces gold in our measured and indicated category and another quarter-million ounces inferred. The applications are pending, and we’re going to the review process.

“These results are very good. They continue to show the extension of the mineralized zone up to the north and limiting it to the northeast now. That leaves us wide open for over one kilometre of strike length down the southeast and up to the northwest, with some low-grade numbers that have defined the edge of the deposit and some higher grade numbers that have come within the deposit.

“Twelve months from now we hope to have a feasibility study completed; we hope to have our permits in hand; and we’ll be looking to get project financing to start a 3,000-tonne-per-day mine that’ll produce over 100,000 ounces gold annually for seven-and-a-half years. The deposit is open in all directions for most of the zones, and every zone is open to depth.

“We’ll drill as a combined engineering study as well as exploration. Our zones are open. Clan Lake, for example, is open in all directions. So we’re trying to find the edges of the zones so we can start modelling pits. It’s one of those good news, bad news situations. The good news is we’re still in mineralization. The bad news is it’s kind of hard to model a pit when you haven’t found the edges of the zone.

“It’s a classic Archean gold deposit, and the deposits in Yellowknife typically have mine lives of 20 to 60 years. We hope to be one of those, and we’re just starting off. If you take a look at the people we have on board, we’re all production people that have done this before.”

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