Yellowknife (May 25/05) - Mining is an expensive business making investors almost as valuable a commodity as the earth-bound minerals.

With that in mind, Tyhee Developments hosted a tour of its Yellowknife gold project - 90 km north of the capital - near the old Discovery Lake mine.

Geoff McNamara, a vice-president of finance with the French bank Societe Generale, left, and Tyhee Developments president Dave Webb inspect the interior of the underground ramp at the Yellowknife gold project near Discovery Lake.

Tyhee president Dave Webb, chief geologist Val Pratico and executive vice-president Roger Sylvestre toured Andrew Mikitchook, of Westwind Partners, and Geoff McNamara, vice-president for French bank Societe Generale, around the site Thursday.

The group got a chance to walk the land, go down the 1,160-metre decline and visit the camp at Discovery, which has 35 workers.

"I'm here to confirm the information is sound, to get a feel for managers and their future vision and to get a better understanding of the project," said McNamara.

Mikitchook added he was sent to check out the underground activity on the project.

"I make recommendations based on my evaluation and understanding of the project," he said.

Tyhee is in the initial stages of putting together a feasibility study with the hopes of one day opening a mine at the site.

In order to find a mineable area of the deposit, Webb said the company is looking to complete a block model. Similar to a Rubik's cube - such a model breaks the overall site down in a mosaic of smaller chunks with detailed information on each.

"That information will be generated from this summer's work," said Webb.

So far, the company has done close to 1,895 metres of surface drilling and hopes to do more. Part of this phase also includes ramp development.

The company is hoping the site trip will convince investors to loosen the purse strings to get the project moving along.

McNamara said Webb had asked for $70 million on Wednesday evening, but on Thursday afternoon Webb stated even $10 million to $20 million would help get things going.