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Posts tagged ‘Tyhee Gold Corp (TDC)’

Tyhee reports NWT Gold Assays as high as 24.71 g/t over 20m

November 28th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningTyhee Gold Corp TSXV:TDC announced results from the Clan Main zone of its Yellowknife gold project in the Northwest Territories. Assays include

2.56 g/t gold over 2.9 metres
2.29 g/t over 16.3 metres (including 10.67 g/t over 2.3 metres)
1.15 g/t over 1.5 metres
1.47 g/t over 2 metres
uncut 24.71 g/t over 20 metres (including uncut 885.91 g/t over 0.5 metres)
1.37 g/t over 1.5 metres
1.45 g/t over 1 metres
1.29 g/t over 4 metres
1.03 g/t over 2 metres

President/CEO David Webb said, “The results show that the Main Zone continues to be open to the southeast, while drilling a gap within the Main Zone returned very good numbers including a short interval that was close to 0.1% gold (885 g/t). These high-grade intercepts are not unusual in Yellowknife, and are typically reduced to 100 g/t in any engineering calculation so as to not put too much emphasis on a single assay. This is industry standard practice.”

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Read more about Tyhee Gold

Contact:
Dave Webb
President/CEO
604.681.2877

by Ted Niles

Discovery Rediscovered

October 26th, 2011

Tyhee Nears NWT Gold Production

By Ted Niles

It’s at a daunting latitude, yes, but those who fear Tyhee Gold Corp’s TSXV:TDC Yellowknife gold project is too remote might be surprised to find that the property has already produced over a million ounces of gold. Staked by prospector AV Giauque in 1944, the Discovery Mine ran from 1950 to 1969 and turned out roughly one ounce of gold for every ton of ore mined. Employing what has proved for so many junior miners to be the impeccable logic that what was uneconomical then is likely to be economical now, Tyhee bought the property in 2001 (by that point expanded to include six additional claims), and it hasn’t looked back.

President and CEO Dave Webb gives a brief timeline: “We acquired the property in 2001. In 2005, we commenced baseline studies for permitting. In 2008, we completed a preliminary assessment that showed the project was economic, and we filed our first request to the regulators for licenses to operate. In 2010, we completed a prefeasibility study. It was quite positive, and we submitted a revised operating license request. In May 2011, we went into the final part of the environmental assessment report and started our feasibility study. We expect to be through everything in another six to eight months.”

Tyhee Nears NWT Gold Production

At its southernmost point, the 12,635-hectare Yellowknife gold project is 50 kilometres north of the city of Yellowknife in the Northwest Territories and 90 kilometres at its northernmost point. The property is located in the South Mackenzie Mining District and consists of the Ormsby, Nicholas Lake, Bruce, Clan Lake and Goodwin Vad zones. The property has an NI 43-101 resource estimate of 1.95 million ounces gold in the measured and indicated categories and 269,000 ounces inferred. (The resource includes proven and probable reserves of 811,200 ounces.)

Tyhee’s July 2010 prefeasibility study shows a base-case net present value for the project of $71.3 million (before tax) and an internal rate of return of 16.1% (at a 5% discount rate). Average operating costs are estimated to be $541 per ounce, with initial capital costs of $174 million, to be repaid in five years. But note that this calculation was based on $950-per-ounce gold and that it only takes into account the Yellowknife project’s measured and indicated resources. Inferred resources—plus additional resources from the two drill programs conducted since the prefeasibility study—and a considerably higher moving gold price should, Webb believes, improve significantly the feasibility study the company expects to release in the first half of 2012.

Tyhee is currently undertaking a 3,000-metre drill campaign at Clan Lake. “It’s all development drilling,” Webb reports. “We’re stepping out in 50-metre increments on our existing resource, and in some places we have gaps, and we’re drilling in between established resources. We have 350,000 ounces of measured and indicated gold on the Clan Lake Main Zone. It’s open in all directions, so we’ve been stepping out to the southeast, and we’ve expanded it or showed the mineralization continues for another 500 metres. Now we’re tightening the drilling up in that 500-metre stretch to bring it into a resource category.”

October 20 results of the Clan Lake Main Zone include

  • 0.43 grams per tonne gold over 39.5 metres
  • 0.48 g/t over 35 metres
  • 1.49 g/t over 13 metres
  • 1.01 g/t over 1.3 metres
  • 14.06 g/t over 1 metre
  • 1.03 g/t over 0.5 metres
  • 3.05 g/t over 2 metres

Webb comments, “I think that it’s quite good that in shallow holes we’re getting long intercepts of low to marginal grade but still economically-recoverable gold values. In the long step-outs—the farthest east that we’ve ever drilled—we’re still getting one-and-a-half grams of gold per tonne over 13 metres. Some economically significant intercepts.” He notes that results from another 15 holes are pending and should be released over the next four to eight weeks.

The Yellowknife project has exactly met my expectations. All of our gold zones are open for expansion. —Dave Webb

Returning to the subject of the property’s location, Webb emphasizes that it is situated in the southern part of the Northwest Territories and that Yellowknife is accessible year-round by road. Furthermore, while the project itself is accessible by road only three months of the year, it is but a 20-minute flight to Tyhee’s own airstrip there. As for costs, Webb gives a recent example, “In March of 2011 we purchased 141,000 litres of fuel. We put that in B-train trucks, brought it up to our property, paid all the taxes and put that fuel into tanks on our property. It cost us $1.11 per litre. Gas prices here in Vancouver are running at about $1.40 a litre. You talk about remote accessibility—we can operate pretty cheaply there.”

Does the company intend to take the Yellowknife project to production itself? “Oh, absolutely,” Webb exclaims. “That’s been our stated goal from day one. If you take a look at the people involved in the project to date—in the executive as well as in the operations side—we’re all operators. All of us have been involved at a high level: president, vice president or director of companies that have started from scratch and built mines.

“The Yellowknife project has exactly met my expectations,” Webb concludes. “All of our gold zones are open for expansion, so we may be reporting a seven-, eight-, 10- or 15-year mine life. All of our zones are open for expansion. The deepest we’ve ever drilled on any of our zones is, for reserves, 410-meters deep. Yet the Discovery Mine went down 1,200-metres, and the Con Mine [located just south of Yellowknife, in operation from 1938 to 2003] went down 1,800 meters. So there’s lots of potential for this thing to go on for a long, long time.”

At press time, Tyhee Gold had 293.7 million shares trading at $0.095 for a market cap of $27.9 million.

Tyhee reports NWT Results including 1.49 g/t Gold over 13m

October 21st, 2011

Resource Clips - essential news on junior gold mining and junior silver miningTyhee Gold Corp TSXV:TDC announced assays from its Yellowknife Gold Project in the Northwest Territories. Results include

1.49 g/t gold over 13 metres
0.43 g/t over 39.5 metres
0.48 g/t over 35 metres
14.06 g/t over 1 metre

President/CEO Dave Webb remarked, “The initial results show that the Main Zone continues to be open to the southeast. The final 15 drill holes in this program were focused on defining the mineralization near the established resource to allow for inclusion in a revised resource estimate that will be incorporated into the feasibility study. The remaining drill holes have been completed, are being processed and will be reported over the next four to eight weeks. Operations have been suspended for freeze-up.”

View Company Profile

Contact:
Dave Webb
President/CEO
604.681.2877

by Greg Klein

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

May 31st, 2011

“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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Tyhee reports NWT Assays including 6.68 g/t over 2.5m

May 30th, 2011

Tyhee Gold Corp TSXV:TDC announced results from the Main Zone at its Clan Lake Property in the Northwest Territories. Highlights include 6.68 g/t gold over 2.5 metres, 3.11 g/t over 4.5 metres, 5.48 g/t over 1.5 metres and 1.01 g/t over 6.5 metres. Clan Lake is located 50 kilometres north of Yellowknife.

President/CEO Dave Webb tells ResourceClips.com, “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.

Webb concludes, “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.”

View Company Profile

Contact:
David Webb
President/CEO
604.681.2877

by Greg Klein and Ted Niles

Tyhee reports NWT Gold Assays including 2.89 g/t over 5.6m

April 25th, 2011

Tyhee Gold Corp TSXV:TDC announced assays from the Ormsby Zone of its Yellowknife Gold Project in the Northwest Territories. Results include 2.06 g/t gold over 2 metres, 2.89 g/t over 5.6 metres, 2.88 g/t over 2 metres, 3.19 g/t over 2 metres, 15.12 g/t over 1 metre, 2.8 g/t over 2 metres, 2.01 g/t over 1.5 metres, 1.07 g/t over 4 metres, 1.05 g/t over 17 metres and 1.34 g/t over 2 metres.

President/CEO David Webb stated, “The results from the Ormsby Zone drill program enhance our resources in this area. The Ormsby drilling is targeting an area 270 metres north of the large open pit that was defined in our preliminary feasibility study.” Drilling has been completed on the Ormsby Zone for this program and a drill remains at Clan Lake. It will be restarted after the break-up of the ice.

View Company Profile

Contact:
David Webb
President/CEO
604.681.2877

by Ted Niles

Tyhee Gold reports NWT Gold Assays including 2.66 gpt over 41m

March 25th, 2011

Tyhee Gold Corp TSXV:TDC announced drill results from the Clan Lake Property of its Yellowknife Gold Project in the Northwest Territories. Assays include 0.72 g/t gold over 13 metres (including 4.27 g/t over 0.8 metres), 6.87 g/t over 0.5 metres, 0.79 g/t over 8 metres, 1.08 g/t over 2 metres, 4.66 g/t over 1 metre, 3.72 g/t over 3 metres, 1.87 g/t over 6.3 metres and 2.66 g/t over 41 metres (including 12.46 g/t over 8.2 metres).

President/CEO David Webb commented, “The results from the Clan Lake Main Zone continue to be encouraging. Gold mineralization continues to be developed to the east of the established resource and the company is testing its width at this point. The Ormsby drilling is targeting an area 270 metres north of the large open pit that was defined in the preliminary feasibility study. In this location the mineralization, which primarily occurs on the eastern side of the volcanic rocks, is also found on the western side. To the north the entire volcanic pile hosts mineralization for a further 450 metres.”

View Company Profile

Contact:
David Webb
President/CEO
604.681.2877

by Ted Niles

Tyhee reports NWT Gold Assays up to 3.03 g/t over 12m

March 10th, 2011

Tyhee Gold Corp TSXV:TDC announced assays from the Clan Lake Property of its Yellowknife Gold Project, NWT. Highlights include 1.57 g/t gold over 17.4 metres (including 15.58 g/t over 1 metre), 2.53 g/t over 15.4 metres (including 36.74 g/t over 0.9 metres), 0.81 g/t over 11.1 metres (including 9.33 g/t over 0.5 metres), 7.16 g/t over 0.5 metres, 1.76 g/t over 5 metres and 3.03 g/t over 12 metres (including 5.54 g/t over 6 metres).

The Yellowknife Gold Project has a mineral resource estimate of 2 million ounces gold measured and indicated, and in excess of 800,000 ounces gold in the proven and probable categories. Applications to construct and operate a 3,000 tonne per day mine and mill complex have been submitted to regulatory authorities and Tyhee is moving towards the final stages of this review process.

View Company Profile

Contact:
David Webb
President/CEO
604.681.2877

by Ted Niles