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XMFSinchiruna (27.53)

Compelling PM MicroCaps Series, Volume V: Tyhee Gold

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68

June 02, 2011 – Comments (51)

With my apologies for an extended delay between the Barkerville post and this one, the time has come for this community to put its collective head together, play devil's advocate, and dive beneath the surface for any reasonable explanation for the paltry $40 market capitalization that the market has assessed to Tyhee Gold (TYHJF on the pink sheets). I have not identified one, and I personally consider the stock one of the premier examples of a deep and persistent market disconnect from anything approaching a reasonable valuation for an expanding in-ground precious-metal resource. In that respect, it reminds me of Alexandria Minerals, and perhaps it is no accident that Alexandria and Tyhee both rank among my top-five equity holdings overall.

Particularly in cases like this where I have amassed a core long position as a result of that value-based assessment, I am always keen to play devil's advocate and attempt to poke holes in my own investment thesis in an effort to ensure that my degree of confidence is well justified. That is where you come in. To conduct such an exercise, there is no power in the financial universe greater than Motley Fool CAPS, and the community of intelligent and gifted investors residing herein. I am hopeful that, as a collective, we can discern an appropriate degree of confidence in what I contend is a bullish outlook for the stock based upon ample due diligence and our expanding collective expertise on this high-octane segment of the precious metals sector.

To get us started, I will aim to lay out the foundations of an investment thesis, and tell the story of how I came to select Tyhee as an overweight selection among pm microcaps from among the many hundreds of junior resource plays out there.

Before we begin, however, as a prelude to any discussion of microcap resource stocks, I must be sure that everyone has read, re-read, and committed to rote the important concepts and caveats laid out in my prelude post to this series. This is a very high-risk space by nature, and allocations must be very carefully considered. I don't want anyone to take on more risk than they are comfortable with, and I certainly will not accept any backlash for speculations turned sour. With that in mind, let us proceed with our assessment of Tyhee Gold.

............

Tyhee Gold, formerly Tyhee Development, trades on the TSX Venture Exchange under the ticker TDC, or on the pink sheets under TYHJF. If memory serves, I first began accumulating shares back in 2005 at about $0.25 per share, and as so often happens in the slow-motion world of exploration-company invesments, we can fast-forward 6 years to the present day and find the shares trading beneath my initial entry price. It's nothing out of the ordinary for me: I waited at least as long for Great Panther and Copper Fox to break-out, and I am content to wait for the market to hone-in on Tyhee accordingly. In the meantime, the resources throughout Tyhee's Yellowknife properties have grown substantially in scale, and significant development milestones have been achieved that the market has completely failed to adequately account for in my view. First during the precious metals correction in 2008, and then in a more concerted way more recently, I proceeded to amass shares at these reduced share prices, with the result that my overall cost basis is now right around where the shares presently trade, and Tyhee is my fourth-largest equity holding overall.

As with all the other junior plays that have earned my considerable confidence, my continuous survey of each and every press release over the years has revealed an unmistakable pattern of consistent exploration success. At yellowknife, this success has been achieved across multiple gold discoveries, at highly attractive grades, over a sizeable area north of the town of Yellowknife, in Canada's Northwest Territories. The Yellowknife project spans across a 40-kilometer swath!

With mine construction permit applications and an environmental assessment study already submitted to the appropriate regulatory agencies, and the initiation of a feasibility study just around the corner to follow-up on the company's positive pre-feasibility study from July 2010, Tyhee stands at an extremely advanced stage of development with multiple potential catalysts for significant upside moves. As you'll recall from our discussion of a draft scorecard system for assessing resource microcap plays, a company's advancement through the range of "life-stages" between initial staking and production serves as one of the most important de-risking factors for a potential investment in the space. Tyhee's obstacles to achieving production at this stage are few: they have already proven the economic viability of the proposed mining operation, requested permission to build the mine, and continued to expand the resource with fresh rounds of discoveries (particularly at the very alluring Clan Lake mineralized structure). Fool's looking to track the permitting process closely may wish to bookmark this link to the related page at the website of the regional regulatory authority: the MacKenzie Valley Review Board. 

Before we get any further along, let's take a look at the known resources at Yellowknife so you can get an idea of the value proposition. As of July 2010 when the pre-feasibility study came out, Tyhee boasted Measured & Indicated resources of 1.95 million ounces of gold at a sweet average grade of just under 3.5 g/t! Including inferred resources of 269,000 ounces at that time, Tyhee had a global resource under its belt of 2.22 million ounces. Now,  recalling our conversation with Eric Owens from Alexandria Minerals, and using the middle of the range of valuations that analysts routinely place upon total 43-101-compliant resources in the ground ($100 per ounce), that would imply a value of $222 million versus the present market cap of $40 million. But it gets better! Unlike Alexandria, Tyhee has a PFS in place that assessed the economic viability of the proposed mine, though it's important to note that the PFS excluded inferred resources and excluded two of the company's gold zones (Bruce Lake and Goodwin Lake Vad). Based solely on the resulting Proven and Probable reserves which correspond to the recoverable gold as envisioned by the July 2010 PFS, and using a gold price of $1,150 that is looking mighty conservative at this juncture, the project implied a net present value of $217 million (or nearly a precise match to the more crude metric described above). Where it really starts to get fun is when you consider the NPV for the project as proposed using a more current trailing gold price like, say, $1,450. At $1,450 gold, the project carries an NPV of $437 million (5% discount rate). That's more than 10-times the present market cap! If you then start to insert bullish long-term gold price projections, and the unmistakable likelihood of continued exploration success enhancing the duration and perhaps the scale of the mining operation, the full breadth of potential upside becomes truly enormous. I won't touch a gold or silver stock unless I think it has a good chance of doubling, but when I find a stock that I think could be a ten-bagger in the making, I am inclined to give it ample consideration for inclusion among my core holdings.

Tyhee commands a huge land package within a district that produced more than 14 million ounces of historic gold production, but since a new gold mine has not been commissioned in the area in more than 20 years, the district has not garnered the attention of the industry the way well-known Canadian districts like Red Lake and Abitibi have done. Tyhee proposes to build a 3,000 ton-per-day milling operation fed by both open pit and underground mining. Tyhee envisions a single mill processing ore from its various gold zones, and this approach lends itself well to organic expansion of the project with further exploration success. That factor alone makes-up a key tenet of my investment thesis.

And speaking of exploration success, it just keeps rolling along! Since the PFS was released, Tyhee has achieved meaningful expansion of the key Clan Lake Main zone, and discovered two new zones nearby called the Spud and the Bear zones. The spud zone featured some particularly solid grades and intercept widths, and notably included some decent concentrations of silver which are not a typical feature of deposits in the Yellowknife district. More recently, Tyhee encountered up to 43.4 g/t of silver alongside 6.68 g/t gold across a 2.5m interval in a drill hole at the Clan Lake Main zone. If silver ultimately proves recoverable at either the Main Zone or the Spud zone, that "could be material to the economics".

Here is an image of visible gold in a core sample from the Clan Lake structure. When you see this in your core, you know you have a find!

You all know I like to see geologists at the helm of these junior resource plays, and Dr. Webb has been at this for more than 30 years, including with the Geological Survey of Canada and major mining names like Cominco (now part of Teck Resources). But the entire team is similarly well qualified. The project's chief geologist also has 30 years of experience, including -- very significantly -- a nine-year stint as an exploration and production geologist for the Yellowknife region's Con mine. The Con Mine was located just South of Yellowknife, and produced more than 5 million ounces of gold between 1938 and 2003. The VP of operations was a mine manager for Claude Resources' Seabee mine (another core holding of mine). Their VP for environment and community affairs possesses the sort of vast region-specific experience that you'd like to see. They have just brought in someone as VP of engineering and project manager for Yellowknife who recently banked a successful feasibility study for a project of Geovic Mining in Cameroon. For a $40 million pre-feasibility-stage resource company, there is a serious concentration of well prepared talent in place to see this project through.

With an initial capital cost of less than $200 million as of the PFS, though likely subject to a bit of upward revision by the time we get a full feasibility study banked, I do not view construction financing as a significant obstacle to development. Once the feasibility study is complete, I expect the company to carry a substantially higher market cap than it does today, at which point I will become supportive of some additional share dilution to cover part of the cost. Bank debt will also become readily available with the feasibility study in place, and as an alternative I am sure the Sprott's of the world will be approaching Tyhee at that juncture with all manner of private placement offers and proposed financing solutions.

This slightly dated 8-minute video will give you a nice synopsis of the company's story straight from CEO David Webb. Unfortunately, Dr. Webb will not be able to join us here on the blogs, but I will make every effort to find answers to any questions that you may have about the company as you perform your own due diligence. I don't have sufficient time to chase down filings to check insider ownership, etc., so please be proactive about finding your own answers through self-directed research wherever possible, and when you find interesting information over the course of your research, please consider posting your findings here for the benefit of your fellow Fools. 

Scanning the categories of my draft scorecard, Tyhee looks like it could demand the highest score so far in this series. The company is strong in every category, and after several years as an attentive shareholder, I remain amazed by the extent to which a company with this much profit potential and organic growth potential can remain subject to such an unreasonably miniscule market capitalization. I like the jurisdiction, the property, the region's historic production, the 2.2 million-ounce high-grade global resource with ample room for expansion, the advanced stage of development with the most powerful catalysts yet to come (permitting, feasibility, etc.), the well qualified executive team with plentiful region-specific experience under their belts, the developing silver story, and the deep value disconnect in the shares that has only grown deeper as the gold price has risen and the resource-base has expanded meaningfully. That, in an oversized nutshell, is the basis for my bullish outlook on the stock. I invite you to look over the company in your own way, and with a fresh injection of skepticism and objectivity that I am potentially lacking after all these years of waiting in complete confidence for the powerful break-out event that I anticipate from the shares at some point.

Thank you for taking the time to assess the company for yourself rather than simply adopting my own assessment as your own, for sharing your findings with the community if you are so inclined, and for either challenging or corroborating my bullish assessment as your own examination warrants.

Fool on!

51 Comments – Post Your Own

#1) On June 03, 2011 at 2:19 AM, awallejr (81.20) wrote:

Gotta rec this.  You sold me on Alexandria to the extent I hold 15,000 shares and considering buying more since I am a patient person when it comes to mining.

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#2) On June 03, 2011 at 3:19 AM, ath002 (< 20) wrote:

Sinchy, thank you again for the time and effort you put into your research and which you then selflessly share with our fellow Fools here. Best to you,

Luis

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#3) On June 03, 2011 at 8:40 AM, XMFSinchiruna (27.53) wrote:

I have finally initiated an exercise that I've had mind to undertake for years. I have on the wall of my office a National Geographic map of Canada, and another of Mexico, and I have begun the process of sticking labelled flags at the location of every property that I track.

I should have done this years ago, as already this has resulted in a number of "ah-hah" moments! I am a very visual person, so this exercise has been an enormous help to me in keeping track of the geological context for the thousands of properties that I am interested in.

It may sound like an archaic research technique here in this digital age, but I'm telling you it has already paid dividends by enhancing my understanding of continuity of geological trends and mineral districts. 

If anyone is interested in conducting a similar exercise, please send me an e-mail (sinchiruna@cox.net). I have located a terrific map store to help you with the project.

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#4) On June 03, 2011 at 8:49 AM, catoismymotor (< 20) wrote:

Wikipedia Says:  In the Dogrib language, the city (Yellow Knife) is known as Somba K'e ("where the money is").

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#5) On June 03, 2011 at 9:16 AM, XMFSinchiruna (27.53) wrote:

catoismymotor

Really? As an anthropologist, I can certainly appreciate those cases where cultural tradition is corroborative of both historic production and remaining propectivity.

Very cool ... thanks for sharing.

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#6) On June 03, 2011 at 9:29 AM, ikkyu2 (99.32) wrote:

"after several years as an attentive shareholder, I remain amazed by the extent to which a company with this much profit potential and organic growth potential can remain subject to such an unreasonably miniscule market capitalization."

I think this is part of the point - that all the gold in the ground doesn't do you much good if you can't get it out.  If all that gold is really there, there is a case to be made that this tiny, undercapitalized firm that holds the ownership rights to that gold is actually an impediment to getting it out.

What's stopping them?  Environmental/permitting hurdles?  Lack of infrastructure to deliver the relevant equipment to sites?  Lack of capital?  Bad management?  Something's stopping them, because attentive shareholders have noticed several years where the market value of the company hasn't changed much, and if the gold were really flowing, that situation could not obtain? 

"To conduct such an exercise, there is no power in the financial universe greater than Motley Fool CAPS, and the community of intelligent and gifted investors residing herein."

Disagree.  For a financial power stronger than CAPS, I'll bet on the market, 9 times out of 10.

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#7) On June 03, 2011 at 9:39 AM, catoismymotor (< 20) wrote:

According to Wikipedia it is true. I just read about the History, Geography & Climate, Law & Government and Economy  portions they have on Yellow Knife. I found it to be very interesting. Some of the info is out of date with respect to gold prices and possibly mine activity. 

I guess being interested in such things makes me a dork. But that is okay. I'm the only one in my group of friends that manages his own retirement so I must have a fondness for supposed trivia. :)

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#8) On June 03, 2011 at 9:53 AM, catoismymotor (< 20) wrote:

Oh, and great write up! I like your idea about using the pins and the map. It is a old school technique but that does not mean it is without merrit. Using that method does help give part of your research a tactile aspect that is lacking if you only use spread sheets.

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#9) On June 03, 2011 at 10:51 AM, XMFSinchiruna (27.53) wrote:

ikkyu2

I explicitly asked the community to bring a skeptical eye to the table, so I guess I can not bemoan the swiftness with which you seem to dismiss my outlook. :)

In short, though, and with all due respect, I think you simply don't have knowledge of the process by which assets are developed from initial staking through to production. It is not a switch that you flip, so your assumption that these past years spent waiting without production must be the result of some shortcoming is a false assumption from the onset. I might point out that Taseko Mines, a profitable copper/moly producer with ample cash flow, incurred 15 years in the thus-far unsuccessful effort to gain regulatory approval for construction of its Prosperity gold mine.

I understand (and appreciate) your line of thinking, but I can counter it in multiple ways. First, Tyhee has done an excellent job of ushering these discoveries through each phase of the development process, and no matter if you're a microcap junior or a mega-cap producer, developing an asset remains a lengthy and arduous procedure requiring years of patience on the part of committed investors in order to realize gains on that asset. Tyhee's small size has not, in my opinion, materially delayed nor hindered the asset's path toward production. That is to say, the development timeline has been within a range that's typical for the industry, regardless of the developer's market cap.

Each and every one of my most successful multi-bagger results in the precious metals sector to date has been realized through junior explorers stewarding their own assets along the path toward production. I draw your attention to Copper Fox Metals, which was a "tiny, undercapitalized" company when I built a core holding at $0.11 per share, and presently trades at $2.34 even before achieving production. Sabina Gold and Silver, Rainy River Resources, Osisko Mining, Alexco Resource, Rubicon Minerals, MAG Silver, etc. ... these are all stocks that have been multi-baggers for me personally by blazing their own paths in the direction of production rather than grooming themselves for acquisition. In contrast, relatively few of the established producers I own have doubled or better during the same timeframe.

As to your final statement, I was not aware that "the market" undertakes and disseminates grassroots collective research on stocks.

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#10) On June 03, 2011 at 11:28 AM, tdonb (< 20) wrote:

http://tyheeinvestors.blogspot.com/2010/03/tyhee-vs-other-gold-miners.html

I found an interesting blog about Tyhee. The author of the first blog entry talks about some of the same issues you have mentioned when trying to develop your scorecard for comparing small mining companies.

The site also mentions that Sprott is an institutional owner.

Thanks for the information on another interesting company. This is the best information I have found anywhere, and I appreciate that you share it after putting so much effort into it for so much time.

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#11) On June 03, 2011 at 11:39 AM, tdonb (< 20) wrote:

http://tyheeinvestors.blogspot.com/search?updated-min=2011-01-01T00%3A00%3A00-05%3A00&updated-max=2012-01-01T00%3A00%3A00-05%3A00&max-results=50

Interesting post from April 15th about low grade mining at Tyhee:

"I finally received a reply from Dr. Dave Webb related to a specific question from Suresh. In an email to me in March, Suresh asked:
"Hubert, how important is width in a drill core? The recent Clan Lake drill results show a grade of less than 1 gram per tonne (with which I would ordinarily be disappointed), but also shows a very wide width."

I did give Suresh my own explanation, but wanted to get Dr. Dave Webb personal opinion... which happened to confirm my own.

So for Suresh and all of you, this is Dr. Dave Webb reply:

One is interested in a combination of grade and width, because it is only then one can add ounces. In the past mining companies were completely engrossed with grade, until some of the bulk mining methods showed it was possible to move massive quantities of rock for less than $1 per tonne. Heap leach operations showed it was possible to recover some gold from the right kind of rocks at very low costs. The low costs made the poor recoveries typical of this technique acceptable. Processing the rock by crushing, grinding, and using other techniques common for gold add a few more dollars with each procedure, but the rate of recovery increases dramatically.

For example, many bulk mineable heap leach operations operate with rock grading between 0.5 gpt and 0.75 gpt gold. Recoveries are typically between 60 and 70% so only somewhere between 0.3 to 0.5 gpt of gold are recovered. This exceptionally lean type of operation makes money because mining and heap leach costs can be around $3 to $5 per tonne. With gold at $1,000 per ounce each gram is worth $32, so a revenue of $9 to $15 per tonne vs a cost of $3 to $5 leaves lots of room for profits provided the operation is big enough to cover the incidental costs plus reclamation.

For Tyhee Gold Corp we are looking at mining costs of around $2.50 per tonne (smaller operation) and processing costs of around $12.50 per tonne (crush, grind, gravity, floatation, regrind, leach, and storage of tailings). So at the low end our costs of $15 per tonne requires 0.5 gpt of recoverable gold if we assume $1,000 per ounce, or 0.29 gpt of recoverable at $1,500 gold ($48 per gram). Given our expensive recovery process gives us 92% recoveries, all we need to make money at today’s prices is about 0.3 gpt.

Now to make things interesting.

We know that we have to move waste rock to get at our ore. This waste rock also costs us about $2.50 per tonne to move. If that waste rock (say it is on top of some ore grading 3 gpt) contains enough gold to pay for the processing, then it should be processed. If not then this waste that must be moved, should go to the waste dump (to be used for road construction, dam construction, or whatever). So now you can see that this rock only has to pay back $12.50 worth of expense and not the addition of the mining costs (as it will be moved regardless to get at the ore underneath it). So you can see that we are now interested in knowing exactly how much gold is in every tonne of rock right down to 0.25 gpt or even less, if it occurs anywhere near higher grade material."

Hope you now better understand how important these "lower grades" are for the bottom line.

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#12) On June 03, 2011 at 1:00 PM, StoneyTerp12 (48.43) wrote:

Sinch,

 Excellent write up.  Thanks for all your efforts.  Great work as always.

I apologize for the newbie question that I'm about to ask....  I purchased shares a couple weeks ago, shortly after reading about the Yellowknife Project and its $437M NPV in its May 11, 2011 press release.  Since that time, they've released 2 additional reports detailing additional drillings.  Should I consider these drills results as additional confirmation of the $437M (as having been already included), or should these results be considered icing on the cake, so to speak?

Thanks Sinch.  I'm a big fan of your work.

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#13) On June 03, 2011 at 1:31 PM, XMFSinchiruna (27.53) wrote:

StoneyTerp12

New drill results are always a form of icing on the cake, though one can not make direct adjustments to a project's NPV on the basis of isolated drill results. The focus and significance of drill results varies, and they must alwaysd be interpreted accordingly.

Glad you enjoyed the write-up, and glad to meet a fellow Tyhee shareholder! 

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#14) On June 03, 2011 at 5:00 PM, XMFSinchiruna (27.53) wrote:

Hi all,

I've received a couple of e-mails from readers who may be interested in undertaking this above-mentioned mapping project that I have personally found to be such a valuable exercise.

I have spoken with the folks at The Map Center, which is where I found everything I needed for the project from one single source. I have let them to know possibly anticipate your orders or phone calls, and so they are already familiar with the ideal maps for the exercise and the flag pins that I have found work extremely well as a visual aid. Their website is mapcenter.com, and their toll-free number is 1-888-568-6277. Let them know your country/countries of interest, and your metals of interest (since color coding of flags makes the project come together: yellow for gold, white for silver, red for copper, etc.)

I recommend a fine-tip marker to write the company name and property name on the flags, and I recommend the rectangular flags over the pennants. I took the messy approach and stuck the maps to my own foam board, but you can also opt to have the maps professionally mounted if you are looking for a more attractive-looking result.

Anyway, please let me know if you do undertake this exercise, as I will be curious to hear how you found that it aided your effort to keep track of the scores of investment options in the metals space.

The guys at The Map Center are standing by to help you get started (Monday through Friday, 9:30-5:30). Just mention The Motley Fool, and they'll have an idea what you're looking for.

Happy mapping,

Sinch

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#15) On June 03, 2011 at 9:16 PM, skypilot2005 (< 20) wrote:

Sinch.  

This is your best introduction – overview, yet.  Thanks. 

I am “on the case” and will start “turning over rocks” first thing in the AM. 

Your Official Web Link Assistant

Sky Pilot

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#16) On June 04, 2011 at 8:54 AM, skypilot2005 (< 20) wrote:

A possible consideration:

"The Nechalacho Rare Earth Element Project located at Thor Lake, Northwest Territories, is Avalon's 100% owned flagship project and is recognized internationally for its exceptional wealth of heavy rare earth elements."

Tyhee’s Yellowknife Gold Project and Avalon’s Nechalacho Rare Earth Element Deposit are both located on or adjacent to the Great Slave Lake.  Avon’s project is located 5 miles North of the Hearne Channel of Great Slave Lake about 100 km SE of the city of Yellowknife.

http://avalonraremetals.com/_resources/Project_Sheet_2011.04.12.pdf

I haven’t found anything indicating Thyee has tested for rare earth elements on their property.  I’ve ran across some “chatter” indicating if some were found, it would be “icing on the cake”.

Rare earth mines aren’t plentiful.  Given the Nechalacho Rare Earth Element Project’s proximity to Yellowknife, it may be a good question to ask Tyhee’s management or P. R.team

Sky Pilot

Official Web link Assistant to Sinch.

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#17) On June 04, 2011 at 10:00 AM, skypilot2005 (< 20) wrote:

11/4/10:

Hmmmm….

Michael R. Sonnenreich, Chairman and CEO of Williams Creek, Joins Tyhee Development Corporation Board of Directors

http://finance.yahoo.com/news/Michael-R-Sonnenreich-iw-3486253182.html?x=0&.v=1

http://www.williamscreek.ca/site/

http://www.williamscreek.ca/site/index.php?id_news=58

Sinch,

Don’t hesitate to let me know if I am throwing up too many links as this exercise continues.  I don’t want to distract from this endeavor.

Your Official Web Link Assistant

Sky Pilot

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#18) On June 04, 2011 at 10:30 AM, XMFSinchiruna (27.53) wrote:

Skypilot, Excellent find and excellent train of thought! If you have a link to the "chatter" regarding rare earths at Yellowknife, feel free to post it.

At 100km SE of Yellowknife, Avalon's project is a fair distaince from Tyhee's properties (which extend from 50 kn to 90 km North of Yellowknife). At just under 150km distance between the two, we may be forced to consider it a leap to expect any significant geological continuity between the two sites. All the same, I will the question to Dr. Webb the next time I speak with him.

You brought another interersting angle to the conversation. Thank you! You continue to be the best web link assistant I've ever had.  :P

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#19) On June 04, 2011 at 10:33 AM, XMFSinchiruna (27.53) wrote:

Not at all ... we can't have too much information up here. :) I also found that interesting when the news came out, and I seem to recall picking up yet another block of shares after reading that release.

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#20) On June 04, 2011 at 11:03 AM, skypilot2005 (< 20) wrote:

Recent insider transactions:

http://www.canadianinsider.com/coReport/allTransactions.php?ticker=tdc

Note:

Dr. Hans P. Black is Chairman of  Interinvest Corp.

http://www.williamscreek.ca/site/index.php?id_news=46

http://finance.yahoo.com/news/TYHEE-GOLD-CORP-ANNOUNCES-THE-cnw-3812236027.html?x=0&.v=1

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#21) On June 04, 2011 at 11:28 AM, skypilot2005 (< 20) wrote:

On June 04, 2011 at 10:30 AM, TMFSinchiruna (98.95) wrote:

"Skypilot, Excellent find and excellent train of thought! If you have a link to the "chatter" regarding rare earths at Yellowknife, feel free to post it"

I keep forgetting to disclose I bought a few K shares on May 18, 2011 @ .1395 thanks to your musings.   I am up about 3% since then. 

I didn’t keep a link to the “chatter” but will try to find them, again.  I’ll follow up with it NLT tomorrow AM.  #4 wants to hit the road, today.  The weather is perfect, here.  I like having a competent Designated Driver if, you know what I mean….

Sky Pilot

Official Web Link Assistant to Sinch

 

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#22) On June 04, 2011 at 2:08 PM, golddlog (< 20) wrote:

Chris,

it seems like having Dr. Hans Black on board represents a new phase for Tyhee.  I believe Dr. Dave Webb is now focusing on greater exposure for the project and company and I believe Hans Black with his Interinvest Global Management can "open the doors" if you like, to the right investors.  I saw an interview he did with Nightly Business report back in 2009 where he recommended Intrepid Mines (IAU.TO) at .32 cents and it is trading around $1.91 currently.  Intrepid is an Aussie miner with a project in Indonesia that Dr. Black really liked.  I may be simplifying a bit, but he has a track record of getting behind quality projects and an endorsement from him, let alone having him on your BOD is a very positive sign.

Chris, you hinted at Tyhee a while ago and I've spent the last 6 months "boning up" on the Yellowknife project and as much as i try I can't find a flaw in their story.  I like to think about what would make this project not succeed as sort of a check and balance on my bias as a shareholder and darned if i can find anything.  As you say, there is a rhythm or process to bringing a mining project on line from beginning to end and things seem to be falling into place.  It is only a matter of time before this project gets it's due.  Also, I believe Dave Webb is nurturing this project along at his own chosen speed and wants to keep everything within his reach.  I read somwhere in his past he was involved in a failed mining project in Mongolia, the details of which are a bit hazy.  what i could gather is there was some "funny business" in the drilling results, misplaced or some such problem.  My sense was that the Mongolian government had a hand in de-railing the project and as you know, strange stuff happens in certain mining juristictions.  so the conclusion I draw from this past snafu, is that Dr. Webb returned to the area he knows best, to a mining friendly juristiction and is managing the project from beginning to end and in control every step of the way.  He has a long history in Yellowknife and a great relationship with the community and any past failures only make my feelings even stronger about his management skills.  Sometimes you have to not succeed first, learn from your mistakes and take corrective action to achieve your goals. 

Besides, They have the gold in the ground, and at over $1,500 an ounce, it's going to be mined. 

That is my two cents worth and I thank you for confirming the positive qualities of Tyhee.

Regards, Pat.   

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#23) On June 04, 2011 at 5:27 PM, ikkyu2 (99.32) wrote:

Chris/Sinchy,

Please be aware there's no personal animus here.  I think you're great, I enjoy your posts, pore over each one with a great deal of attention, and if you're ever in my neck of the woods I'll buy you a smoothie.  I have been following the PM business including the production end since 1981 and if I had to sum up the press releases of unproductive enterprises in one phrase it'd be "smoke and mirrors."

I was not aware that "the market" undertakes and disseminates grassroots collective research on stocks. 

It does.  Its conclusions, however, are only released in numerical, summary form: "bid price."  :)

 

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#24) On June 04, 2011 at 8:23 PM, XMFSinchiruna (27.53) wrote:

ikkyu2

Thank you for the kind words, but I can't let your last comment slide. You're going to have to provide several specific examples of where explorers have issued false information in their press releases before I'll sit by as the entire sector's press releases are characterized in that way.

Oh... and can that smoothie be spiked?  :P

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#25) On June 05, 2011 at 11:10 AM, skypilot2005 (< 20) wrote:

 On June 04, 2011 at 5:27 PM, ikkyu2 (97.58) wrote

I was not aware that "the market" undertakes and disseminates grassroots collective research on stocks. 

 ikkyu2,

Please reference the title:

Compelling PM MicroCaps Series, Volume V: Tyhee Gold

How about adding something of value?  Or, is it all about you?

Come on.

Sky Pilot

 

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#26) On June 05, 2011 at 11:24 AM, skypilot2005 (< 20) wrote:

I apologize for just “throwing this up but, I promised to take #4 to breakfast. 

I am splitting it up due to size.

How about some volunteers to dig a little deeper in areas of potential?

Ie.: 

The value of their Longtom Property interest.

The amount of Silver production potential.

Rare earths potential?

Naturally, Gold production potential.

If we split this up, I know we will be a lot more productive.

1)      Let’s determine the areas of specific potential and split it up?

Complete by Wed.?

 2) Any volunteers for specific areas?

 Sky Pilot

Official Web Link Assistant.

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#27) On June 05, 2011 at 11:50 AM, skypilot2005 (< 20) wrote:

Uranium, etc.

I wonder what happened to their Longtom Lake property?

http://www.tyhee.com/financial/documents/3rdquarter.pdf

see page 13

I think I found it!:

http://www.tyhee.com/financial/documents/3rdquarter.pdf

Page 8.  2007  third quarter report  dated 8/31/07

6. EXPLORATION PROPERTIES (continued)

(b) Longtom Property

The Company has a 50% ownership interest in the Longtom Property, which is located in

the Northwest Territories, Canada. The other 50% was sold to Alberta Star Development

Corp. for $315,000 in 2002. The Longtom Property is comprised of the DAMP mining

lease and encompasses the Damp Zone, hosting mineralization. It is registered in the

name of Alberta Star Development Corp. (“Alberta Star”). To purchase the Company’s

50% interest in the Longtom Property, Alberta Star must pay the purchase price of

$315,000 on the date which is the earlier of: 1) within 90 days from the date it has

incurred the $5,000,000 in exploration expenditures on the Longtom Property; or 2) at the

date Alberta Star advises the Company in writing that it will complete the purchase of the

Company’s 50% interest in the Property (Notice Date). At August 31, 2007, the Notice

Date had not been triggered. The purchase price may be paid in cash or 50% in cash and

50% in common shares of Alberta Star.

**

In the Northwest Territories, several companies are hoping to find Olympic Dam-type deposits. These are large-tonnage iron oxide/copper/gold deposits containing significant uranium values as well, although uranium may not be the primary target. Fortune Minerals of London, Ont., is working on such a deposit 175 km northwest of Yellowknife. Vancouver's Allyn Resources is seeking a partner for its West Arm project 75 km west of Yellowknife. A third such project 350 km northeast of Yellowknife is Longtom, which is a joint venture of Tyhee Development and Alberta Star Development, both headquartered in Vancouver.

See LONGTOM LAKE IOCG/URANIUM PROJECT-NWT:

http://www.marketwire.com/press-release/Alberta-Star-Purchases-Macinnis-Lake-Uranium-Properties-Increases-its-Uranium-Portfolio-531181.htm

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#28) On June 05, 2011 at 4:40 PM, ikkyu2 (99.32) wrote:

We can spike your smoothie in a wide variety of ways, Chris!

When I say "smoke and mirrors," that's a little different from "false information."  As far as hard facts, CV Myers related a bunch of examples of "smoke and mirrors" from the late 70's / early 80's PM craze in his book "World Rollover."  Myers was one of the original gold bugs and stock pickers, and had spent his early career as an oil wildcatter - he knew about going out there and getting his hands dirty looking at prospects and estimating reserves.

My copy of the book's not to hand at the moment - it's at Mom's house - so I can't cite you chapter and verse.  But it's a good read if you can find it on abebooks.  It's a good read even in 2011; it's darn near amazing to me how little has changed, how the rhetoric we're hearing now is the same we were hearing then. 

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#29) On June 05, 2011 at 4:46 PM, ikkyu2 (99.32) wrote:

I just picked up a copy on abebooks for $3.95 shipped; so I'll try to remember to report back when it arrives.

 

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#30) On June 06, 2011 at 10:59 AM, silverminer (30.67) wrote:

I've had some terrific exchanges with David Webb over the past few days. He strikes me as a terrific guy who is every bit as convinced as I am that this project will succeed.

He indicates that directors and management own about 50 million shares (about 17%), with the above-referenced stake held by Hans Black through Interinvest accounting for about 60% of that. Sprott Asset Management, according to recent filings, holds just inder 20m shares through several of its funds.

He points out that all mines that have made it to the environmental assessment ("DAR") phase in NWT, as Tyhee has, have been permitted.

He sent along a terrific pairing of charts, once charting the price history of Tyhee shares, and the other Pierre Lassonde's chart of a typical market value progression from discovery to construction. I tried to upload the image to share here, but my image hostiong service is not working. Maybe later. :)

 

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#31) On June 06, 2011 at 11:43 AM, silverminer (30.67) wrote:

I also had an excellent conversation yesterday with PC Gold CEO Kevin Keough. They are grooming the company for a sale.

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#32) On June 06, 2011 at 4:04 PM, XMFSinchiruna (27.53) wrote:

A lot of buying in Tyhee today on a sharply down day for the sector.

Bullish! :)

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#33) On June 06, 2011 at 8:56 PM, rfaramir (29.28) wrote:

"As with all the other junior plays that have earned my considerable confidence, my continuous survey of each and every press release over the years has revealed an unmistakable pattern of consistent exploration success."

To play Devil's Advocate here, have you ever seen a "pattern of consistent exploration success" that ended up being "smoke and mirrors"? Certainly not in the "other junior plays that have earned my considerable confidence", but have you been burned yet, like Dave Webb reportedly was in Mongolia?

I think ikkyu2's subjective valuation is on the conservative side (not a bad thing, it takes all types). So until there is gold coming out of the ground at a certain rate with all costs accounted for, it's hard to justify putting real money into a company where all you *really* have so far is talk. Dave looked like such a nice gentleman in that video interview you linked, I cannot believe he's a snake oil salesman. He doesn't have the 'look' of a used car salesman. But my mind knows that that's just how a really good crook would look!

When ikkyu2 talks about the market price being the informational signal he's looking at, he's right. You yourself mentioned "I am content to wait for the market to hone-in on Tyhee." He's just willing to wait longer, perhaps actually having been burned before. You're looking to get ahead of that market signal, which is why you're the success you are. Logically, you have to have many shades of both types. The price starts low because confidence is low and only very high-risk-tolerant investors will buy in. As the information increases, the risk decreases, pulling in more and more investors of more conservative stripes, which bids the price up, which (along with more actual information and eventually results) confirms the valuation, which brings in more even-more-conservative investors, and so on.

Oh, and let me add emphasis to a clause of ikkyu2's to which I think you took exception too quickly: "if I had to sum up the press releases of *unproductive* enterprises in one phrase it'd be 'smoke and mirrors'." As in, the unproductive ones fraudulently get your money with smoke and mirrors press releases. He's not claiming all PM explorers put out smoke and mirror press releases.

Personally, I'm convinced, and just wish I had dry powder like I meant to have by now. But I, too, always search for a good Devil's Advocate, so as not to get blind-sided. 

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#34) On June 06, 2011 at 10:12 PM, skypilot2005 (< 20) wrote:

On June 06, 2011 at 4:04 PM, TMFSinchiruna (98.92) wrote:

"A lot of buying in Tyhee today on a sharply down day for the sector.

Bullish! :)"

Wasn’t me.  I bought a big chunk on May 18 @ .1395.  Thanks to your musings.  Up +20% since then.  A little “weak” for one of your recommendations but, I can live with it.  :)

Your Official Web Link Assistant

Sky Pilot

 

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#35) On June 06, 2011 at 10:19 PM, skypilot2005 (< 20) wrote:

I forgot to say, "Thanks for your excellent D. D."

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#36) On June 06, 2011 at 10:46 PM, skypilot2005 (< 20) wrote:

On June 06, 2011 at 8:56 PM, rfaramir (99.38) wrote

“He's not claiming all PM explorers put out smoke and mirror press releases.’

For those of us that follow Sinch., (I know you do) he has always made the risks investing in PMs at various stages of development abundantly clear.  I feel ikkyu2  should have taken the time to become familiar with his writings before making those statements. 

I still am waiting for ikkyu2 to add something of value relating to Tyhee, to this exercise like you consistently do.  I think that speaks for itself.

Sky Pilot

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#37) On June 07, 2011 at 10:33 AM, golddlog (< 20) wrote:

Nice job Skypilot, the folks making these unproductive ore innane commentary (pun intended) should have to answer to you first.  Mr. Barker doesn't have time for this as he's too busy helping us all make more money. 

As a Tyhee stakeholder, I appreciate your added info, you've found some good stuff.  My own commentary is thru the lens of an old liberal arts student who knows more about people and history.  Therefore i am leaving the technicals to you guys and focusing on the character of management, politics of the project and the many people involved as per my commentary above.  "Skypilot, how high can you fly"!  The Animals.

golddlog

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#38) On June 07, 2011 at 10:41 AM, XMFSinchiruna (27.53) wrote:

rfaramir

Wow... you really took the "devil" in devil's advocate to heart! :) 

First and foremost, because Dr. Webb and other members of the Tyhee team may be monitoring this blog post, I want to clarify what I certainly hope to be true; which is that you were not implying anything specifically about him or any other member of the Tyhee team, but rather that you were using the subject company of this post as an example to make your devil's advocate point regarding investor confidence in stated resources more broadly. In the future, I would appreciate if you could word your point more carefully to ensure that your words can not be misinterpreted in an unfortunate way. 

To answer your question: no, I have never been burned in the way you describe. Establishing 43-101-compliant resources is an exhaustive process, and explorers primarily utilize external assay labs and/or quality-control assay contractors who independently verify drill results on an ongoing basis. Furthermore, PEAs, PFSs, and FSs are prepared by independent engineering consulting firms that 1.) each have their verifiable records of past assessments in place that can be checked against production results, and 2.) have no economic interest in mis-stating or over-stating an asset's potential. Thereafter, those results are routinely checked by government regulators and, as in the case of RBY's external resource modeler being required to adjust his methodology, subject to that regulatory oversight.

I am aware of a couple of instances of "smoke and mirrors" from past decades, and I have learned from those cases the sorts of warning signals to watch for. My comprehensive process of due diligence ensures that the companies passing my muster are certainly the real deal, and I am extremely confident that no explorer with fabricated drill results will ever survive the collective due diligence of myself and this community through a series like this one. With far too many small resource plays out there to keep track of, I certainly am not naive enough to ignore the likelihood that some of them are bound to be rotten apples. I have passed on countless plays purely because something didn't feel right. There are a lot of companies out there with fancy-looking websites and grandiose claims of prospectivity, but little in the way of verifiedf drill results. There are others that go to such excessive lengths to market themselves that I could not feel comfortabloe with the nature of the underlying shareholder base.

But to date I have not been burned. I have had stock prices not respond the way I might expect over some very extended periods (hence the term "persistent market disconnect"), but none that have turned out to be failed stories. 

The day I do get burned, you can bet I will make it the subject of the biggest, loudest, and most exhaustive forensic analysis you can imagine to glean every possible detail that could help ensure it would be the last time I am so burned. That is a promise.

Anyway, Tyhee is the last company Fools need to worry about from that perspective. That is both my personal and my professional assertion, and community members are free to process that assertion within their due diligence as they see fit. Out of respect for the terrific team of hard-working folks at Tyhee, I would appreciate if the community could lay that topic to rest.

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#39) On June 07, 2011 at 11:19 AM, Gonzhouse (51.83) wrote:

Sinch,

I keep coming back to your statement in post 31:  "I also had an excellent conversation yesterday with PC Gold CEO Kevin Keough. They are grooming the company for a sale."

Lots of potential ramifications to that;  can you elaborate or what could/should we be reading into it? And thanks for your usual excellence.

(Long PC Gold, Tyhee)

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#40) On June 07, 2011 at 11:53 AM, XMFSinchiruna (27.53) wrote:

Gonzhouse

The intention is not to carry the asset through to production, but rather to sell the asset in a pre-constructiuon state. This has always been the goal, which is why they have kept it a pure play on Pickle Crow. 

This is a very common strategy. I tend to prefer juniors that are prepared to carry through to production themselves, even if with a jv, but PC Gold's approach is nonetheless a common one that frequently results in some nice final-hour appreciation via the purchase premium. The unknown for an investor is whether it would be taken-up by a small enough company that one can reasonably "follow the asset" if they so desire, or whether that option is rendered ineffective by the sheer size of an acquirer (i.e. the Newmont / Fronteer deal that left me very disappointed). 

I find the former far more likely given the asset's scale ... that PC would most likely be consumed by a junior or small mid-tier producer that would make fololowing the asset a viable option.

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#41) On June 07, 2011 at 5:18 PM, skypilot2005 (< 20) wrote:

On June 07, 2011 at 10:33 AM, golddlog (< 20)

Thanks.

68'.  Animals and Stones.  Now you're talking.  :)

Sky Pilot

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#42) On June 07, 2011 at 9:36 PM, skypilot2005 (< 20) wrote:

BRD: +.03, today.  +.07 after hours.

Here’s why:

http://finance.yahoo.com/news/Brigus-Gold-Provides-Black-bw-2955411684.html?x=0&.v=1

It was #3 on Sinch’s  “The Top 10 Gold and Silver Stocks for 2011”  12/10/10 piece.

Sky Pilot

Official Web Link Assistant to Sinch

 

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#43) On June 08, 2011 at 6:46 AM, skypilot2005 (< 20) wrote:

Sinch,

When you use the term "Yellowknife Project" above, are you including the Big Sky property?  Or, do you want me to research it?   I've done some preliminary D. D. on that specific property but I do not want to be redundant.

The reason I ask is because on one of Tyhees' maps they have the Yellowknife Gold Project label with lines connecting to just the properties in the North.  They have the Big Sky property labeled separately in the South without lines connecting to the "Yellowknife Gold Project" label.  It is in the properties /yellowknife_overview section of the company website.

I am probably paying too much attention to detail.  But, that's what I do.  :)

Update:

To date, I haven't found anything significant to report regarding the possibility of rare earths on the property.

I intend to also, look at the possibility of a Silver resource because of one of the drill samples.

Sky Pilot

 

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#44) On June 08, 2011 at 11:00 PM, skypilot2005 (< 20) wrote:

Silver Resource

http://www.cnw.ca/en/releases/archive/January2011/10/c9368.html

TYHEE CONFIRMS NEW GOLD ZONE ADJACENT TO ESTABLISHED RESERVES IN ALL SEVEN DIAMOND DRILLHOLES COMPLETED AT CLAN LAKE, YELLOWKNIFE GOLD PROJECT, NWT, CANADA

TSX Venture: TDC

VANCOUVER, Jan. 10 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC) (the "Company") announces the assays for seven of the first eight drillholes completed into the recently discovered Spud Zone prior to the Christmas break have been received.  All seven drillholes intersected gold mineralization.

Recent drilling has returned assays of:

Drillhole CL171

1.74 grams of gold per tonne (gpt) and 4.30 gpt silver over 32.0 metres (m) including 4.75 gpt gold and 11.9 gpt silver over 10.5 m, and 18.23 gpt gold and 83.00 gpt silver over 1.0 m.

Drillhole CL170

5.29 gpt gold and 10.5 gpt silver over 4.0 m.

Drillhole CL173

1.14 gpt gold and 3.4 gpt silver over 16.0 m including 2.52 gpt gold and 7.8 gpt silver over 6.3 m.

A map of drillhole locations can be found on Tyhee's website, www.tyhee.com.

The Spud Zone is an altered and mineralized zone of intermediate ash to lapilli tuffs over 850 m in length (open) and up to 300 m wide.  It is located 200 m west of and is subparallel to the Main Zone.  Alteration consists of quartz veining and silicification, carbonatization and minor biotite development.  Anomalous gold values have been encountered in every drillhole, in places reaching economically significant concentrations with very elevated silver concentrations over potentially minable widths.  The balance of the assays are pending.

Dave Webb, President & CEO reports "Tyhee's first drillholes on the Spud Zone confirmed it as a significant new discovery (1.74 gpt gold and 4.30 gpt silver over 32.0 m (CL171), 5.29 gpt gold and 10.5 gpt silver over 4.0 m in CL170).  Additionally, the 330 Zone which was discovered in the 1980's has now been shown to be part of the Spud Zone has been intersected in CL170, CL171, CL172, and CL175 extending the historic showing by up to 400 m.  The high silver values are unusual for Yellowknife, and if recoverable could be material to the economics.  Drilling at Clan Lake resumed last week."

Drill crews completed eight diamond drillholes totalling 1,572 metres at Clan Lake prior to a temporary shutdown for the holidays.  Crews have re-mobilized to camp last week.  Construction of the winter ice road has commenced and will give road access to the Clan Lake area once it is completed.  Archival drill core from the 330 Zone has been collected and will be relogged and re-sampled as part of the continuing exploration and development program at Clan Lake.

  **

Tyhee Drills 2.5 Metres of 6.68 Grams of Gold Per Tonne and 43.4 Grams of Silver Per Tonne at the Yellowknife Gold Project, Nwt Canada.
Monday May 30, 8:30 am ET

TSX Venture: TDC

VANCOUVER, May 30, 2011 /PRNewswire/ - Tyhee Gold Corp. (TSXV: TDC) (the "Company"), a late stage development company, is pleased to announce that diamond drilling continues to expand the Main Zone at Clan Lake.

 

"The results from the Clan Lake Main Zone continue to be encouraging" reports Dr. Webb, President and CEO.  "Gold mineralization continues to be developed to the east of the established resource and the company is testing its width at this point.  The drill results include 4.5 metres (m) grading 3.11 grams of gold per tonne (gpt) and 16.7 gpt silver and 2.5 m grading 6.68 gpt gold and 43.4 gpt silver in CL195.  The Clan Lake Main Zone now appears to have been delimited on its northeastern boundary.  The Main Zone remains open to the southeast, northwest, and to depth and additional drilling will focus on these extensions.  Additional drill results are pending for the Ormsby Zone and these will be released shortly.

 The map attached to this release can be viewed with the release at www.tyhee.com

 

**

http://ca.biz.yahoo.com/prnews/110530/to778.html?.v=26

 

Source: Tyhee Gold Corp.   5/30/11

 

Press Release

Source: Tyhee Gold Corp.

Tyhee Drills 2.5 Metres of 6.68 Grams of Gold Per Tonne and 43.4 Grams of Silver Per Tonne at the Yellowknife Gold Project, Nwt Canada.
Monday May 30, 8:30 am ET

Clan Lake main Zone

 

"The results from the Clan Lake Main Zone continue to be encouraging" reports Dr. Webb, President and CEO.  "Gold mineralization continues to be developed to the east of the established resource and the company is testing its width at this point.  The drill results include 4.5 metres (m) grading 3.11 grams of gold per tonne (gpt) and 16.7 gpt silver and 2.5 m grading 6.68 gpt gold and 43.4 gpt silver in CL195.  The Clan Lake Main Zone now appears to have been delimited on its northeastern boundary.  The Main Zone remains open to the southeast, northwest, and to depth and additional drilling will focus on these extensions.  Additional drill results are pending for the Ormsby Zone and these will be released shortly

**

Tyhee Development Corp provides Pre-feasibility Guidance and Exploration Update on the Clan

http://envoystrategicpartners.com/news_details.php?id=58

 

Monday, April 19, 2010
VANCOUVER, British Columbia (Monday April 19, 2010) -- Tyhee Development Corp. (TSX
Venture, TDC) ("the Company") provides the following update on its 100% Yellowknife Gold Project, NWT, Canada.
Two new holes reported here, CL146 and CL147 along with the three previously reported
drillholes (3.74 grams of gold per tonne (gpt) over 7.5 metres (m) in CL144, 9.62 gpt over 2.2 m in CL143) test a gap in the existing resource. Substantial silver occurs with some of the gold assays, such as CL146 which obtained 8.5 gpt gold and 78.8 gpt silver over 1 metre (from 41.5 to 42.5m). Four diamond drillholes drilled to the southeast of the established resource and
demonstrate that broad areas of low grade gold mineralization extend for several hundred
metres beyond the established resource (CL148 and CL150). CL149 and CL151 were drilled at the southern extremity of the projected Main Zone and appear to limit the width of the Main Zone in this direction. A table of the newly reported drillhole results appears at the end of this release, and a map showing the drillhole locations is appended or is available with this release at www.tyhee.com.
"The recent results demonstrate that the Clan Lake Main Zone continues to the southeast for an additional 200 m." reports Dave Webb, President & CEO. The drillholes, while extending the Main Zone, appear to have lower grades than the overall deposit. "We are confident that the balance of the drilling already completed and being processed will determine if this is an isolated pocket of lower-grade material or a general trend." says Webb. "The surface results suggest the former."

http://www.petroleumnews.com/mnarch/05-02-7.html

 

 

January 13, 2011 --- 05-02

January 2011

Northwest Territories

GOLD – Tyhee Development Corp. Jan. 10 said assay results for seven of the first eight drill holes completed prior to the Christmas break in the recently discovered Spud Zone have confirmed the new area of mineralization adjacent to established reserves in the Clan Lake deposit on its Yellowknife Gold property. All seven drill holes intersected gold mineralization. Among drilling highlights: Hole CL171 intersected a 1.0-meter interval grading 18.23 grams per metric ton gold and 83.00 g/t silver and a 10.5-meter interval grading 4.75 g/t gold and 11.9 g/t silver within 32 meters grading 1.74 g/t gold and 4.30 g/t silver; hole CL170 intersected 4 meters grading 5.29 g/t gold and 10.5 g/t silver; and hole CL173 intersected 6.3 meters grading 2.52 g/t gold and 7.8 g/t silver within 16 meters grading 1.14 g/t gold and 3.4 g/t silver. The Spud Zone is an altered and mineralized zone of intermediate ash to lapilli tuffs over 850 meters in length (open) and up to 300 meters wide. It is located 200 meters west of and is subparallel to the Clan Lake Main Zone. Alteration consists of quartz veining and silicification, carbonatization and minor biotite development. Anomalous gold values have been encountered in every drill hole, in places reaching economically significant concentrations with very elevated silver concentrations over potentially minable widths. The balance of the assays is pending. “Tyhee’s first drill holes on the Spud Zone confirmed it as a significant new discovery (1.74 g/t gold and 4.30 g/t silver over 32.0 meters (CL171), 5.29 g/t gold and 10.5 g/t silver over 4.0 meters in CL170). Additionally, the 330 Zone, which was discovered in the 1980s, has now been shown to be part of the Spud Zone and has been intersected in (holes) CL170, CL171, CL172, and CL175 extending the historic showing by up to 400 m.. The high silver values are unusual for Yellowknife, and if recoverable could be material to the economics,” Tyhee President and CEO Dave Webb said in a statement.

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#45) On June 08, 2011 at 11:11 PM, skypilot2005 (< 20) wrote:

 NXG FYI:

 

http://www.prnewswire.com/news-releases/northgate-minerals-intersects-431-grams-per-tonne-gold-over-796-metres-at-young-davidson-123401033.html

 

Sky Pilot

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#46) On June 09, 2011 at 6:57 AM, skypilot2005 (< 20) wrote:

Copper, Cobalt, Uranium

I do not know if, Tyhee still owns the Great Bear Lake Property.  Would someone check on it, today?  If they sold it, please link to the information regarding its’ sale. 

Thanks,

Sky Pilot

http://www.infomine.com/index/pr/Pa052866.PDF

News release from 2000

Echo Bay, Great Bear Lake

http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=4629362&SessionID=PfNbHjaYAmr9077

315 miles from Yellowknife to Great Bear Lake? 

“Prospectors on their way to the Klondike traveled the old river routes and found lead-zinc near the mouth of the Slave River in 1898. Oil was located at Norman Wells in 1911, near tar seeps that the Dene had used for centuries. Radium was found at Great Bear Lake in 1930, gold was found at Yellowknife on Great Slave Lake in 1934. The extraction of uranium was of great significance to the community's economy in the 1950s. Gold, zinc, lead, and silver, have continued to be shipped out of the Yellowknife region in significant quantities, though since the partial closure of the Giant Mine this year, the export of gold has slowed (Yelowknife: An Investment in the Future, 1998).”

Mining History

Great Bear Lake & Great Slave Lakes

http://www.nwtminingheritage.com/static/mining-history/

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#47) On June 09, 2011 at 7:11 AM, skypilot2005 (< 20) wrote:

Here’s the Great Bear Lake original purchase agreement info.

http://www.infomine.com/index/pr/Pa052866.PDF

 

Sky Pilot

Official Web Link Assistant to Sinch

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#48) On June 09, 2011 at 10:18 PM, skypilot2005 (< 20) wrote:

Copper, Cobalt, Uranium:

http://www.infomine.com/index/properties/COBALT_SOUTH.html

Contact Lake:

http://www.infomine.com/index/pr/Pa096902.PDF

Cameron Bay:

http://www.infomine.com/index/pr/Pa103711.PDF

Sept 2000  Echo bay – Great Bear Lake

http://docs.google.com/viewer?a=v&q=cache:DydVZtjZ1KMJ:www.infomine.com/index/pr/Pa052866.PDF+tyhee+development+great+bear+lake&hl=en&gl=us&pid=bl&srcid=ADGEESiFN9rDopNcpihE343VDQ2eRV3JN6DIIlw97rZIyPae-Cnu4XjCWhVhKaVy1fgfSX9c5cXyiQsw5IaoyVeE98yP881fXaZifS_HACUQRJFnyKNAFMByw-JeGaNLfI4AeAH8XMQ_&sig=AHIEtbTRKLqxjkyyvTr2bFYEU52q-I0FmQ

http://www.infomine.com/index/pr/Pa052866.PDF

In 1996 some claims were left to expire?  See page 22 “1996” http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=4629362&SessionID=PfNbHjaYAmr9077

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#49) On June 09, 2011 at 10:21 PM, skypilot2005 (< 20) wrote:

Sinch recently posted 3 good articles here:

 http://www.fool.com/author/1632/index.aspx?source=iapsitlnk0000003

 

 

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#50) On June 09, 2011 at 10:26 PM, tdonb (< 20) wrote:

And they have silver too. Great finds SkyPilot.

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#51) On August 03, 2011 at 7:50 AM, StoneyTerp12 (48.43) wrote:

Anyone hear anything about why they're getting rid of the poison pill provision?

 http://www.tyhee.com/investors/documents/110721SRPa.pdf

 

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