Big Sky Resources
in response to
by
posted on
Mar 29, 2012 02:50PM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
TSX Venture: TDC
VANCOUVER, Aug. 14 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC) today announced that its exploration team has identified a broad zone of gold-bearing shear zones on its wholly-owned BigSky Property, extending north of the Giant Yellowknife Mine leases in Yellowknife, NWT Canada.
"These shear zones are very similar to the Con, Campbell and Giant Shear Zones that were mined in the past from the adjoining properties (past production 14 million ounces of gold)," reports Dr. D. Webb, President and CEO.
Exploration crews have confirmed a 500 metre wide domain within which a system of subparallel and anastomosing shear zones (chlorite carbonate schists) occur. Individually these shear zones are up to 20 metres wide. The shear zone system can be traced from our southern border with the old Giant Mine leases to the north for a distance of more than 4 kilometres.
The shear zones contain quartz veins and silicified domains up to 3 metres wide and 100 metres long. These quartz veins are variably mineralized with arsenopyrite, pyrite, chalcopyrite sphalerite and galena. Grab samples collected from these shear zones by the property vendors show grades of up to 51 gpt gold (see NR. S 8, R 4, January 29, 2007).
Previous exploration in the area includes diamond drilling in 1945 and 1946, with no records of subsequent exploration until the current ownership. Intersections of shear zones with quartz, sulphide and visible gold, up to 26 metres long (open to depth) have been reported in drillhole T46-46 (John Anderson Thompson, 1946 Assessment Report). Mr. Thompson (1946) wrote, "The shearing in the tuffs from 105.5 - 191.0 (32.15 metres to 58.21 metres) is quite encouraging, occurring as it does, on what appears to be the same shearing which gives good values in the pits (trenches) about 900 feet (274 metres) north of this point. The fact that there was V.G. (visible gold) in the core indicates that values accompany the silicification in the tuffs." No assay results are reported in these assessment reports.
Dave Webb states, "We are very encouraged by the exposures seen to date, which rival the historic exposures of the Con Shear Zone in terms of size and exposed mineralization. Our senior geologists collectively have more than 100 years of experience in this belt and are very excited about this discovery." The shear zones occur in the lowest formations of the Kam Group and the immediate basement rocks. Detailed mapping and sampling is underway along the 4 km strike-length identified to date and additional claims have been staked. The shear zones become better developed, larger and apparently more mineralized to the north as they enter the basement rocks to the Kam Group.
Exploration crews have been refocused to concentrate on this large shear zone system with the goal to identify prospective drill targets by the end of October. The company has received permits to commence drilling and is planning a substantial program on these targets as soon as possible. The size of the target and its proximity to the historic past producers (adjoins the Giant Yellowknife Mine Property to the south) and the hydroelectric power plant (500 m to the east) is very encouraging.