That's over 20 feet of 1.3 oz. per tAttention Business Editors:
Yukon-Nevada Gold Corp. intersects 6.4 meters of 40.1 g/t gold at Jerritt Canyon, Nevada
VANCOUVER, July 14 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) has received very exciting
results from underground drilling in the SSX - Steer Mine complex at Jerritt
Canyon.
Underground drilling with two diamond drills (core) and a reverse
circulation drill (RC) have continued to define additional resources in the
SSX - Steer Complex. Since the last report (news release dated April 28, 2008)
55 resource conversion holes (including both RC and Core) have been completed
totaling 19,004 feet (5,792 meters).
During this period the majority of the drilling has been on the Steer
side of the mine complex. Several inferred resource areas were targeted with a
diamond drill to more fully understand their nature and to establish mineral
continuity. In most cases the mineralization is associated with low angled
structures and has a tabular appearance within the lower portion of unit 3 of
the Hanson Creek Formation. The more significant intercepts from this program
include: SR-174 with 17.5 feet (5.3 meters) of 0.321 ounces of gold per ton
(opt) or 11.01 grams of gold per tonne (gpt), SR-190 with 21 feet (6.4 meters)
of 1.169 opt (40.08 gpt), SR-183 with 17.5 feet (5.3 meters) of 0.604 opt
(20.71 gpt), and SR-184 with 18 feet (5.5 meters) of 0.651 opt (22.32 gpt).
These intercepts are either within inferred resource shape as of December 2007
or completely outside of previously defined mineralization. These highlights
are shown in the table below and their locations on the accompanying map which
can be found at
https://www.yukon-nevadagold.com/i/maps/20080714_SSX_June-30.jpg.
Summary of Significant Intercepts
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Hole From From To To Interval Interval Au Au
ID (ft) (m) (ft) (m) (ft) (m) (opt) (g/tonne)
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SR-174 300.5 91.6 318 96.9 17.5 5.3 0.321 11.01
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SR-183 620 189 637.5 194.3 17.5 5.3 0.604 20.71
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SR-184 674 205.4 692 210.9 18 5.5 0.651 22.32
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SR-190 195 59.4 216 65.8 21 6.4 1.169 40.08
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Z71347 205 62.5 230 70.1 25 7.6 0.261 8.95
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Z71348 230 70.1 275 83.8 45 13.7 0.281 9.63
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The Company's President and CEO, Graham C. Dickson, commented, "These
drill results indicate that the SSX - Steer Mine Complex will continue to
produce on a long term basis and add to the Company's overall profitability."
Assays from exploration holes reported in this news release were 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 May
1st, 2007 and available on www.sedar.com. Intercepts are reported as drilled.
A comprehensive table of drill results will be available on
www.yukon-nevadagold.com .
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 Manager, Mine Geology, Donald
Colli, B.Sc., P.Geo., 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 Arizona and Nevada in the
United States. The Company's focus has been on the development of its late
stage development and operating properties. Near term growth will occur by
increasing or initiating production from the Company's existing properties.