Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mongolia Gold Resources -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (3921)	11/29/1999 10:26:00 PM
From: d:oug	Respond to of 4066

Duck Test - If TDC sounds like a goose ready to lay a golden egg.......... ... then how long until it looks like one ??? ... might TDC have to walk like one first ??? ... yes, I think so ... when TDC can walk to the bank with gold, then tdc will look like... Tyhee Development Corp. 11/25/99 - Tyhee Development and Fortune Minerals Significant Gold Results TYHEE DEVELOPMENT CORP ("TDC-V;TYHJF-L") FORTUNE MINERALS LTD ("FT-T") - Tyhee Development and Fortune Minerals Significant Gold Results - From Recent Diamond Drilling at their Russell Lake VMS Property Dr. D.R. Webb, President of Tyhee Development Corp. announces that Tyhee and Fortune Minerals Limited (the "Companies") report that initial results from four diamond drillholes completed on the Russell Lake Property (the "Property") have been received and confirm the presence of a significant gold-rich volcanogenic massive sulphide ("VMS") deposit on the Property. The drillholes tested a portion of the Robin Lake Deposit, an Archean VMS deposit that occurs within a 1,600 meters (5,200 feet) long and 200 metres (650 feet) thick intermediate to felsic volcanic and chert horizon. One drillhole tested beneath the IG Zone, a portion of the Robin Lake Deposit that can be traced for 400 meters along strike north of Hammer Lake and has previously returned significant gold concentrations (TDC News Release 3-113, July 12 1999). The IG Zone attains a maximum thickness on surface of 40 meters. Results include intercepts of 21.7 meters (71 feet) of massive and semi-massive sulphide including pyrrhotite, pyrite, and arsenopyrite, with minor chalcopyrite and sphalerite. Analyses include 19.2 meters (63 feet) of 1.1 gpt (0-032 opt) gold including 4.6 meters (15.0 feet) of 2.1 gpt (0.061 opt) gold and 1-5 meters (5.0 feet) of 5.1 gpt (0.149 opt) gold. Low base metal values, up to a maximum of 0.05% copper over 1.3 meters (4.3 feet) were obtained. IG Zone DDH From To Thickness Thickness Gold (feet) (feet) (feet) (Meters) gpt RL-04 41.0 104.0 63.0 19.2 1.1 incl 61.1 80.2 19.1 5.8 1.8 And 85.0 100.0 15.0 4.6 2.1 incl 90.0 95.0 5.0 1.5 5.1 Three drillholes tested the EMS Zone of the Robin Deposit south of Hammer Lake, all of which intersected massive and semi-massive sulphides (pyrrhotite with minor pyrite, chalcopyrite and sphalerite) over core lengths of 5.3 to 17.4 meters (17 to 57 feet). Significant gold mineralization was identified in RL-01, 02, and 03, along with anomalous copper and zinc. Analyses include 3.9 meters (12.7 feet) of 0.1% zinc and 0.4 meters (1.2 feet) of 8.2 gpt (0.239 opt) gold in RL-01. RL-02 intersected 3.8 meters (12.5 feet) of 1.6 gpt (0.047 opt) gold, RL-03 intersected 2.1 meters (7.0 feet) of 0.1% zinc, 1.6 meters (5.1 feet) of 0.2% zinc, and 1.0 meters (3.4 feet) of 0.1% copper. EMS Zone DDH From To Thickness Thickness Copper Zinc Gold (feet) (feet) (feet) (Meters) % % Gpt RL-01 29.0 41.7 12.7 3.9 0.1 48.5 52.3 3.8 1.2 1.7 278.9 280.1 1.2 0.4 8.2 RL-02 245.0 257.5 12.5 3.8 1.6 RL-03 191.6 195.0 3.4 1.0 0.1 181.5 188.5 7.0 2.1 0.1 354.9 360.0 5.1 1.6 0.2 The Property is located 90 km west-northwest of Yellowknife, Northwest Territories, Canada. It is 60 km north of Highway 3 and 5 km north of the high voltage power line between the Snare hydroelectric complex and Yellowknife. Tyhee can earn a 51% interest in the Project by spending $400,000 prior to May, 2003, and may either form a joint venture with Fortune after vesting, or may increase its interest to 60% by incurring an additional $400,000 by May of 2006. There is an underlying 1% NSR on the Property, half of which can be purchased for a one-time payment of $500,000 subject to certain conditions. The Companies are very encouraged by these results which confirm a very large VMS system with enrichments of copper and zinc, and higher than average gold concentrations. Tyhee anticipates commencing a second phase drill program as soon as conditions permit. The purpose of the second phase drill program will be: 1. to assess the extent of the IG Zone in all directions, 2. to determine if any additional concentrations of copper, zinc or gold exist elsewhere within the Robin Lake Deposit, and 3. to test additional geophysical targets outside of the Robin Lake Deposit for other massive sulphide concentrations. Results will be made available as they are received and verified by the Companies. TEL: (604) 681-2877 Investor Relations INET : www3.stockgroup.com Copyright 99 StockHouse.com All Rights Reserved.