Yukon-Nevada Gold Corp. continues to yield exciting exploration drill hole assay results
VANCOUVER, March 19 /PRNewswire-FirstCall/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to announce it recently received assay results from the remaining 2008 diamond and reverse circulation drilling at its gold production Jerritt Canyon property 50 miles from Elko, Nevada, USA. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").
Drilling from surface and underground stations has continued to identify or extend gold mineralization beyond known resources. All drill holes referenced in this release were drilled from June 2 to August 6, 2008 and for which all final assay results were received by March 15, 2010 and shown in the accompanying two maps which can also be found on our website: http://yukon-nevadagold.com/i/maps/SSXSmithDrillholeAssays09-10.pdf
Significant drill hole assays from the 2008 underground exploration drilling are presented in Table 1 below. Drill results are from the SSX-Steer Mine Complex.
SSX-Steer Complex
Three of the underground drill hole assay results (SR-198, SR-211, and SR-213) are located in the extreme southeastern margin of the SSX-Steer Complex in Zone 1. SR-198 contains an interval of 20 feet (6.1m) averaging 0.155 ounces of gold per ton (5.31 g/t). This interval starts at 0 feet.
SR-211 contains an interval of 25 feet (7.6m) averaging 0.159 ounces of gold per ton (5.45 g/tonne). This interval starts at 274 feet (83.5 m).
SR-213 contains an interval of 15 feet (4.6 m) averaging 0.161 ounces of gold per ton (5.52 g/tonne). This interval starts at 103 feet (31.4 m).
An additional three underground drill holes (SR-225, SR-226, and SR-227) were drilled in the northwestern part of the SSX-Steer Complex near the Husky Fault. SR-225 contains an interval of 20 feet (6.1 m) averaging 0.169 ounces of gold per ton (5.79 g/t). This interval starts at 403 feet (122.8 m).
SR-226 contains an interval of 16 feet (4.9m) averaging 0.153 ounces of gold per ton (5.25 g/tonne). This interval starts at 13.5 feet (4.1 m).
SR-227 has three separate zones of Au mineralization with the highest one including an interval 19.5 feet (5.9 m) averaging 0.270 ounces of gold per ton (9.26 g/t). This interval starts at 300.5 feet (91.6 m).
Table 1. Underground diamond drill hole assays received from April 18, 2009 to March 15, 2010 from the Jerritt Canyon property.
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Inter- Inter-
From From To To val val Au Au g/
Hole ID Zone (ft) (m) (ft) (m) (ft) (m) oz/ton tonne
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SR- SSX-
198* Steer C. 0 0 20 6.1 20 6.1 0.155 5.31
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SR- SSX-
211 Steer C. 274 83.5 299 91.1 25 7.6 0.159 5.45
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SR- SSX-
213 Steer C. 103 31.4 118 36.0 15 4.6 0.161 5.52
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SR- SSX-
225* Steer C. 403 122.8 423 128.9 20 6.1 0.169 5.79
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SR- SSX-
226 Steer C. 13.5 4.1 29.5 9.0 16 4.9 0.153 5.25
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SR- SSX-
227 Steer C. 300.5 91.6 320 97.5 19.5 5.9 0.270 9.26
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- 330 100.6 345 105.2 15 4.6 0.196 6.72
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353 107.6 370 112.8 17 5.2 0.182 6.24
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Notes: * Assayed at Jerritt Canyon Laboratory; the remaining drill
holes assayed at ALS Chemex, North Vancouver, B.C.;
C. = Complex
Significant drill hole assays from the 2008 surface exploration drilling are presented in Table 2 below. Drill results are from West Mahala (Zone 1 East), Mahala Basin (Zone 8), and the Greater SSX-West Steer areas.
Table 2. Surface reverse circulation drill hole assays received from April 18, 2009 to March 15, 2010 from the Jerritt Canyon property.
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Inter- Inter-
From From To To val val Au Au g/
Hole ID Zone (ft) (m) (ft) (m) (ft) (m) oz/ton tonne
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MAH- W. Mahala-
415 Zone 1
East 1,145 349.0 1,155 352.0 10(A) 3.0 0.209 7.17
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MAH- W. Mahala-
416 Zone 1
East 885 269.7 905 275.8 20(A) 6.1 0.240 8.23
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960 292.6 965 294.1 5 1.5 0.287 9.84
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MAH- Mahala-
428 Zone 8 795 242.3 820 249.9 25 7.6 0.262 8.98
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835 254.5 850 259.1 15 4.6 0.215 7.37
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ST- Greater
790* SSX-W.
Steer 445 135.6 465 141.7 20 6.1 0.209 7.17
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Notes: * Assayed at Jerritt Canyon Laboratory; the remaining drill
holes assayed at ALS Chemex, North Vancouver, B.C.
(A) Includes interval reported by ALS Chemex as greater than
0.292 opt Au; final gravimetric determination not available;
value of 0.292 opt Au used for the weighted average Au grade
Mahala Basin
Significant assay results from two surface exploration drill holes (MAH-415 and MAH-416) will expand the existing resource at West Mahala. The West Mahala resource area is located within 350 to 2,350 m from the existing mine workings in the southeastern portion of the SSX-Steer Complex. MAH-415 contains an interval of 10 feet (3.0 m) averaging 0.209 ounces of gold per ton (7.17 g/tonne). This interval starts at 1,145 feet (349.0 m).
MAH-416 contains an interval of 20 feet (6.1 m) averaging 0.240 ounces of gold per ton (8.23 g/tonne). This interval starts at 885 feet (269.7 m).
MAH-428 contains two mineralized intervals: one interval of 25 feet (7.6m) averaging 0.262 ounces of gold per ton (8.98 g/tonne). This interval starts at 795 feet (242.3m). This drill hole has a second interval of 15 feet (4.6m) averaging 0.215 ounces of gold per ton (7.37 g/tonne). This interval starts at 835 feet (254.5m). Both of these intervals occur approximately 480 m northwest of the existing Smith development workings.
Steer
ST-790 located approximately 1,000 m west of the Steer Mine area contains an interval of 20 feet (6.1m) averaging 0.209 ounces of gold per ton (7.17 g/tonne). This interval starts at 445 feet (135.6 m) and opens this area up for possible westward resource strike extensions of the previously identified mine resources.
Note that the drill intercepts reported above are not included in the data used in the April 16, 2008 NI 43-101 resource. Assays from an additional 8 surface drill holes and 6 underground drill holes received after April 17, 2009 contained no significant assays greater than 0.15 oz/ton. Complete tables of updated assay results for the 2008 surface and underground drilling program may be found on our website: http://www.yukon-nevadagold.com/i/pdf/JC-SRF-DrillData-Mar-16-10.pdf and http://www.yukon-nevadagold.com/i/pdf/JC-UNGD-DrillData-Mar-16-10.pdf
Assays for the drill holes reported in this news release were either done by ALS Chemex, North Vancouver, B.C. or by the Company's assay laboratory at the Jerritt Canyon Mine, using standard fire assay techniques. The Company's Quality Assurance and Quality Control protocols are available in the Company's NI-43-101 Technical Report dated April 16, 2008 and available on www.sedar.com and on our website: http://www.yukon-nevadagold.com/s/JerrittCanyon.asp?ReportID=195388.
Intercepts are reported as drilled. True widths have not yet been calculated; given the geometry of mineralization at Jerritt Canyon, the concept of true width is not always meaningful before delineation drilling has been completed. This News Release was reviewed and approved by the Company's Senior Geologist, Todd Johnson, M.Sc., the Qualified Person for 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 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.
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SOURCE Yukon-Nevada Gold Corp.
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