RE: Nice resultsTHE CONNECTOR TARGET AT KETZA RIVER PROVES TO BE A HIT10/26/2010 8:30 AM - Canada NewsWire
VANCOUVER, Oct. 26, 2010 (Canada NewsWire via COMTEX News Network) --
Yukon-NevadaGold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6)is pleased to announce favorable results from its on-going 2010drilling program at Ketza River. The Ketza River property iswholly-owned by Yukon-Nevada Gold Corp., and it is a past gold producerlocated near the town of Ross River in the Yukon Territory, Canada.
Therecently received assays are from the Connector and Vertical VeinTargets both located in the Shamrock Zone. All drill holes referenced inthis press release are diamond drill holes completed from one drill rigfrom April to May, 2010 for which assays were recently received.
<< Connector Target ---------------- >>
TheConnector Target is a combination magnetic, gravity and gold-in-soilanomaly, lying upslope from the Gully resource in the Shamrock Zone. Seethe Connector Target plan map figure on the YNG website here:https://www.yukon-nevadagold.com/i/pdf/KetzaConnectorMap2010.pdf. Thistarget trends nearly east-west and lies at a high angle to the welldefined Gully (vein) resource. Most of the drill holes intersectedmoderate amounts of quartz veins containing pyrrhotite, arsenopyrite,pyrite, and chalcopyrite. Table 1 below shows the significant assayresults from the Connector Target. The best intercepts from this targetarea include: drill hole number KR-10-1491 that intercepted 0.28 maveraging 25.30 g/t Au from 91.19 to 91.47m, and KR-10-1493 thatintercepted 11.10 g/t Au over 0.49m from 97.31 to 97.80 m.
Inaddition to the recently received intercepts of the Connector target,one drill hole number KR-10-1488 intersected mineralization both withinthe Connector target and the Gully vein. The mineralization within theGully vein in this drill hole assayed 2.38 g/t Au over 13.78 meters from115.16 to 128.94 meters.
Table 1. Summary of Significant Assay Results from the Connector Target
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Drill Hole Number From (m) To (m) Thickness (m)* Grade (g/t)
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KR-10-1485 80.55 81.88 1.33 2.08
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KR-10-1488 14.33 14.60 0.27 2.19
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111.75 112.20 0.45 1.47
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115.16 128.94 13.78 (Gully Vein) 2.38
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137.91 139.72 1.81 1.60
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146.08 146.52 0.44 7.97
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152.64 153.07 0.43 2.96
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KR-10-1491 91.19 91.47 0.28 25.30
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KR-10-1492 6.10 8.23 2.13 1.42
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183.32 185.07 1.75 3.70
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193.87 195.70 1.83 1.68
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196.58 201.35 4.77 2.71
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200.36 201.35 0.99 9.57
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KR-10-1493 97.31 97.80 0.49 11.10
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101.69 102.29 0.60 7.20
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KR-10-1494 20.82 21.29 0.47 1.57
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140.06 140.54 0.48 7.11
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*Note: true thickness values are not known;
>>
Drill holes KR-10-1486, KR-10-1487, KR-10-1489 and KR-10-1490 returned no significant intersections;
<< Vertical Vein Target -------------------- >>
TheVertical Vein target consists of a northerly-trending magnetic highlocated west of the Gully resource in the Shamrock Zone. See VerticalVein target plan map figure on the YNG website here:https://www.yukon-nevadagold.com/i/pdf/KetzaVerticalVeinMap2010.pdf. In2007, drill holes KR-07-1202, KR-07-1206, and KR-10-1209 intersectedstrong gold mineralization at the south end of the target. Seven drillholes were recently completed higher up on target area that tested theextent of the magnetic-high anomaly. Table 2 below shows the significantassay results from the Vertical Vein target. The best intercept fromthis target is from drill hole KR-10-1482 that assayed 5.01 g/t Au over0.28m from 140.01 to 140.29m.
Table 2. Summary of Significant Assay Results from the Vertical Vein Target
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Drill Hole Number From (m) To (m) Thickness (m)* Grade (g/t)
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KR-10-1480 44.98 45.56 0.58 1.12
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KR-10-1482 140.01 140.29 0.28 5.01
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KR-10-1484 88.40 88.95 0.55 1.58
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*Notes: true thickness values are not known;
>>
Drill holes KR-10-1481, KR-10-1483, KR-10-1495, and KR-10-1496 returned no significant intersections.
Allof the recently completed assays were analyzed by the ALS LaboratoryGroup in North Vancouver, Canada. The recently received drill holeassays from the Connector and Vertical Vein targets were not included inthe data used for the NI 43-101 resource estimate released on April 14,2008. This NI 43-101 report can be downloaded from the YNG website athttps://www.yukon-nevadagold.com/s/KetzaManto.asp?ReportID=296836
Thisnews release was reviewed and approved by Ed Gates (M. Sc., P.Geo.),Chief Geologist for the Ketza River Project, and Todd Johnson (M. Sc.),Vice President of Exploration for Yukon-Nevada Gold Corp. Ed Gates isthe Qualified Person for the purpose of this press release.
Yukon-NevadaGold Corp. is a North American gold producer in the business ofdiscovering, developing and operating gold deposits. The Company holds adiverse portfolio of gold, silver, zinc and copper properties in theYukon Territory and British Columbia in Canada and in Nevada in theUnited States. The Company's focus has been on the acquisition anddevelopment of late stage development and operating properties with goldas the primary target. Continued growth will occur by increasing orinitiating production from the Company's existing properties.