The Environmental Assessment Process Moves to Information Request Phase for Tyhee's Wholly-Owned Yellowknife Gold Project, Northwest Territories, Canada
VANCOUVER, July 28, 2011 /CNW/ --
TSX Venture: TDC
VANCOUVER, July 28, 2011 /CNW/ - Tyhee Gold Corp. (TSXV: TDC) (the
'Company') announces progress on the Environmental Assessment Process
to permit construction and operation of a 3,000 tonne per day mine and
mill complex at its wholly-owned Yellowknife Gold Project, NWT,
Canada. The Mackenzie Valley Environmental Impact Review Board
(MVEIRB) announced that it has decided to move the environmental
assessment of Tyhee NWT Corp.'s Yellowknife Gold Project to the next
stage of the process - the Information Request phase.
Tyhee was also informed that the Review Board will release a workplan
for the remainder of this environmental assessment by the end of
August.
'We are pleased to see progress in the development of our Yellowknife
Gold Project' reports Dr. Dave Webb, President & CEO. 'Tyhee submitted
an application to construct and operate up to a 4,000 tonne per day
mine and mill complex on its Yellowknife Gold Project to the Mackenzie
Valley Land and Water Board in September 2008 and has seen steady
progress through the system. This announcement sets in motion the
process where the MVEIRB will issue information requests to Tyhee based
on the data and information submitted in the Developers Assessment
Report in May 2011. It is expected that these information requests will
coincide with the receipt of the workplan mentioned above. Tyhee
anticipates completion of this phase by mid 2012 and receipt of
approvals to commence licensing for construction and operation shortly
thereafter.'
Tyhee Gold Corp. is actively moving its wholly-owned Yellowknife Gold
Project towards production. A Feasibility Study is underway, lead by
SRK Consulting, and is expected to be completed by mid 2012. It will
build on the positive Preliminary Feasibility Study completed in July
2010 that recommended operating at 3,000 tonnes per day, (www.sedar.com). The Feasibility Study will consider an expanded resource and a more
current gold price as well as other updated inputs.
Tyhee's shares trade on the TSX Venture Exchange under the symbol 'TDC'.
For additional information, please visit the Company's website, www.tyhee.com .
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release contains 'forward-looking statements' within the
meaning of applicable securities laws, including statements relating to
proposed or anticipated work programs and studies, and anticipated
timing of permit applications and responses. Readers are cautioned not
to place undue reliance on forward-looking statements. Actual results
and developments may differ materially from those contemplated by these
statements. Factors which may lead the company to not proceed with
anticipated work programs, construction or development projects and
studies, to delay permit applications or delay the delivery of the
feasibility study include factors such as analysis of the exploration
and metallurgical results may lead to a determination that further
exploration or development is not warranted, additional information
requirements necessary to complete permit applications and the
feasibility study may be delayed by weather and other constraints,
insufficient funding, delays as a result of early or late onset of
winter conditions, availability of personnel and equipment to conduct
work programs, permit reviews, information requests and other factors
not within the Company's control. The factors identified above are not
intended to represent a complete list of the factors that could affect
the Company. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. The Company does not undertake to update
forward-looking statements, except where required by law. Readers
should not place undue reliance on forward-looking statements.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/28/c8174.html
Tyhee Gold Corp. | Envoy Strategic Partners | |||
David Webb, President and CEO | Jay Bedard | |||
Tel: 604-681-2877 | Tel: 416-977-7778 | |||
info@tyhee.com | jay@envoystrategicpartners.com |