Friday, 22nd December 2006 (2659 views)

Tyhee Development Corporation has announced a tenfold increase in the amount of resource which its project holds.

The Yellowknife Gold Project has discovered an extra 125,000 ounces of gold in its overall measured resource, according to the company who derived this figure from 54 of the 100 diamond drill holes made throughout 2006's programme.

David Webb, president and chief executive officer of Tyhee Development, said: "Unlike many other companies, Tyhee drills year round. Therefore, in order to prepare resource estimates, we must select cut-off dates. At any time after that, our stated resources become subject to revision through receipt of additional drill results."

He added that Tyhee tries to continually improve the economics of its project through expanding the resource and that many other drill holes have yet to be logged, sampled or assayed.

Tyhee's total measured resource is now 280,000 ounces of gold in 2.6 million tonnes with a grade of 3.41 grams of gold per tonne.

Dr Webb said: "Tyhee remains active on the Yellowknife Gold Project, with two diamond drills on the property. Operations shutdown on December 21st and are planned to restart on January 4th 2007."

 

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