Vancouver – Tyhee Development (TDC-V) has increased the gold resource on the Discovery Mine property at its Yellowknife Gold project in the Northwest Territories. The project comprises the Discovery mine and adjacent Nicholas Lake mine, near Yellowknife.
Gold mineralization on the Discovery mine property occurs within the Discovery Shear Zone, which has been traced for over 2 km across the property. Numerous auriferous quartz veins cut across Archean mafic metavolcanic rocks in the Ormsby and West Zones and metasediments at the Discovery Main Zone.
The updated independent resource estimate extends the Ormsby Zone to over 900 metres in strike length, and adds the West Zone, 2,000 metres along strike. The resource stands at 2.7 million tonnes grading 10.27 grams gold per tonne (881,000 oz.) in the measured and indicated categories and another 2.1 million tonnes grading 10.07 grams (695,000 oz.) in the inferred category, at a 5.0 gram cut-off.
The new resource estimate includes diamond drilling results since August 2003 and was prepared in accordance with NI 43-101 standards.
Last year, the Tyhee reported an estimated measured and indicated gold resource of 1.4 million tonnes grading 10.23 grams (476,000 oz. gold) and an inferred resource of 2.7 million tonnes grading 18.29 grams (1.5 million oz.). This excluded last year’s drilling which identified the new gold zone.
The company has also commenced its 2004 diamond drill program which consists of 10,000 metres of infill and step-out drilling.
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