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2010 Mining Explorers: Tyhee Development Corp.

 

Last updated 10/31/2010 at Noon



TDC: TSX-V

President and CEO:

David Webb, B.A.Sc. (Engineering) M.Sc., Ph.D., P.Geol.

Vice President, Operations: Doug Levesque

Chief Geologist: Val Pratico, B.Sc., P. Geol.

- Tyhee Development Corp. is an advance exploration and development company focused on two objectives: advancing the Yellowknife Gold Project in Northwest Territories toward production and identifying additional resources to supplement potential production at a proposed mine.

The Yellowknife Gold Project consists of the Ormsby, Nicholas Lake, Bruce Lake, Goodwin Lake and Clan Lake zones stretching 13-90 kilometers, or 8-56 miles, to the north of Yellowknife, Nwt.

Engineering and permitting work for the Yellowknife Gold Project is ongoing.

A positive preliminary feasibility study completed in 2010 projected initial capital costs of C$170 million with a C$20 million contingency to construct a 3,000-metric-ton-per-day mine and mill complex producing an average of 108,000 ounces per year at cash costs of US$541 per ounce.

The company Aug. 30 reported the extension of known gold mineralization in the Clan Lake Main zone by more than 200 meters along strike beyond the existing reserves and resources and the recent discovery of two parallel sub-zones 150 meters away on either side of the Main zone have become the explorer's new priority.

Exploration crews sampled and mapped the Spud and Bear zones in anticipation of drilling in September.

Clan Lake now hosts eight gold zones.

Cash and short-term deposits: C$1.66 million (at May 31, 2010)

Working capital: C$1.68 million (at May 31, 2010)

Market capitalization: C$32.19 million (Sept. 6, 2010)

Suite 401, 675 West Hastings St. • Vancouver, B.C. V6B 1N2

Tel: 604.681.2877 • Fax: 604.681.2879

http://www.tyhee.com

 

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