Category: Uncategorized
- Published: 29 November -0001
Yukon-Nevada Gold Corp. Intersects 7.27 Meters Of 56 G/T Gold At The Ketza River Project, Yukon Territory
Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to report additional favorable results from its on-going 2008 drilling program at Ketza River. The Ketza River property is wholly-owned by Yukon-Nevada Gold Corp., and is a past gold producer located near the town of Ross River in the Yukon Territory, Canada.
Two drill rigs have completed over 9,600 meters of drilling from 66 holes. All drill holes referenced in this release are diamond drill holes completed between April 10th and June 9th, 2008, and were targeted to expand the margins of known mineralization. Further drilling for delineation of the proposed open pits will continue through the year. Significant intercepts were received from the Peel, Penguin, Tarn, Break, and Lab targets within the Manto Zone, and the QB and Gully targets in the Shamrock Zone. Highlights include 5.15m of 13.6 g/t gold in the Peel Target of the Manto Zone and 7.27m of 56.0 g/t gold from the QB Target of Shamrock Zone. The drill intercepts reported herein were not included in the data used for the NI 43-101 resource estimates released on April 14, 2008, which contain a measured and indicated resource of 646,600 ounces of gold at a grade of 4.93 g/t and an inferred resource of 112,800 ounces of gold grading 3.26 g/t and could potentially lead to an increase in the resource of the Ketza River project.
Graham Dickson, President and CEO states, \"These important results are certainly a positive indication that the project will continue to expand its resource available for open pit mining. We are confident that this project will play a critical role in the profitability of Yukon-Nevada Gold Corp.\"
Manto Zone
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Peel Target
Eighteen drill holes have been completed in the Peel Target for a total of
2,160 meters. Table 1 below summarizes significant intercepts in the Peel
target zone.
Table 1 - Peel Target
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Hole ID From (m) To (m) Length (m) Au g/t
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GT-08-01 11.27 15.7 4.38 6.4
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GT-08-02 59.67 60.5 0.86 15.55
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11.5 17.6 6.1 4.5
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KR-08-1281 19.5 24.1 4.6 2.8
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26.5 28.4 1.9 4.1
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KR-08-1283 5.39 10.5 5.15 13.6
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KR-08-1286 26.94 27.7 0.77 13.65
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Penguin Target
Seven holes were drilled in the Penguin target zone during this period,
for a total of 749.8 meters. A summary of significant drill results for the
target is presented in Table 2.
Table 2 - Penguin Target
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Hole ID From (m) To (m) Length (m) Au g/t
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GT-08-12 92.05 96.6 4.57 8.2
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KR-08-1269 21.38 23.5 2.09 10.1
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KR-08-1272 74.09 75.5 1.37 4.09
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Tarn Target
A total of five holes were drilled in the Tarn target zone, totaling 1,691
meters. Two ore-grade intercepts were outside of currently modeled ore zones
at shallow depths, as indicated in Table 3 below.
Table 3 - Tarn Target
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Hole ID From (m) To (m) Length (m) Au g/t
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KR-08-1276 26.52 29.30 2.78 9.9
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KR-08-1277 30.49 33.75 3.26 7.8
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Break Target
A total of nine drill holes have been completed in the Break target area,
totaling 1,332.9 meters. Of these, two had high-grade intercepts as shown in
Table 4.
Table 4 - Break Target
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Hole ID From (m) To (m) Length (m) Au g/t
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KR-08-1288 18.52 20.4 1.9 22.4
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KR-08-1289 17.37 17.9 0.52 10.7
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Lab Target
Drilling in the Lab zone comprised twelve holes totaling 1,924.7 meters.
Three drill holes intercepted significant mineralization outside of the
current resource shapes, as summarized in Table 5 below.
Table 5 - Lab Target
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Hole ID From (m) To (m) Length (m) Au g/t
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HYD-08-05 42.02 45.6 4.64 10.4
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KR-08-1270 54.13 57.0 2.87 16.8
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KR-08-1275 82.14 84.5 2.39 7.4
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Shamrock Zone
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QB Target
The QB target area in the Shamrock Zone returned several ore-grade
intercepts, as shown in Table 6 below.
Table 6 - QB Target
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Hole ID From (m) To (m) Length (m) Au g/t
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KR-08-1291 60.88 61.8 0.96 33.8
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KR-08-1293 44.81 52.1 7.27 56.0
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KR-08-1294 38.52 48.1 9.6 3.3
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KR-08-1301 40.22 42.2 1.98 19.7
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Gully Target
Drilling in the Gully target area comprised fifteen drill holes totaling
1,781.9 meters. Of these, one hole returned an intercept of interest as shown
in Table 7 below.
Table 7 - Gully Target
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Hole ID From (m) To (m) Length (m) Au g/t
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KR-08-1304 51.2 58 6.77 19.1
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Thicknesses have been reported as drilled - there is not yet sufficient information to determine true thicknesses. All assays for the drill program were conducted by ALS Chemex of North Vancouver, B.C.
This news release was reviewed and approved by the Chief Geologist at Ketza River, Erika Shepard, M.Sc., P.Geo., and by the company\'s Executive Vice President - Exploration, Dorian (Dusty) Nicol, M.Sc., P.Geo., who is the Qualified Person for the purposes of this release.
Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company\'s focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company\'s existing properties and by further acquisitions.
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The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
WARNING: The Company relies upon litigation protection for \"forward-looking\" statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
%SEDAR: 00004098E
SOURCE: Yukon-Nevada Gold Corp.
Yukon-Nevada Gold Corp.: Nicole Sanches, Investor Relations Manager, Tel: (604) 688-9427, Email: This email address is being protected from spambots. You need JavaScript enabled to view it., www.yukon-nevadagold.com; CHF Investor Relations: Jacqueline Wagenaar, Account Manager, Tel: (416) 868-1079 ext. 289, Email: This email address is being protected from spambots. You need JavaScript enabled to view it., www.chfir.com
