The Yellowknife Gold Project (YGP) extends from 50 to 90 km north of Yellowknife in the South Mackenzie Mining District of the Northwest Territories, Canada. The project covers 12,635 hectares and consists of the Ormsby, Nicholas Lake, Bruce and recently added Clan and Goodwin Vad Zones.
A NI 43-101 Preliminary Assessment Report (PA) was completed in 3rd quarter of 2008 demonstrating robust economics based on 2007 resource calculations. A NI 43-101 Preliminary Feasibility Study (PFS) was completed in July, 2010 confirming strong economics utilizing advanced modeled engineering. Recent additions to the resource calculation are expected to support strong future reports as management continues to move toward mine development.
The Environmental Assessment (EA) for the YGP is progressing following the receipt from the Mackenzie Environmental Impact Review Board (MVEIRB) of specific information requests. Tyhee plans to file its responses at the end of the First Quarter 2012. Following their review,the MVEIRB will circulate the Developers Assessment Report for review by other interested parties, which will lead to additional responses being provided by Tyhee. This is one of the key steps in the EA process and the Company will provide further updates as they become available.
Management plans to develop a centralized processing operation to facilitate development of all current and future zones. Production estimates from the PFS consider a 3000 tpd operation with production of 108,000 oz Au per year.
Suite 401 - 675 West Hastings Street
Vancouver, British Columbia V6B 1N2 Canada
Telephone: (604) 681-2877
Facsimile: (604) 681-2879