Yukon-Nevada Gold Corp. Drills 30.80 m Grading 10.53 g/t Au at Jerritt Canyon, Nevada
VANCOUVER, July 24, 2012 /PRNewswire/ – Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) is pleased to update results from its 2011 surface drilling program at
the Starvation Canyon Project (“Starvation”) which is located at its
wholly-owned Jerritt Canyon gold operation in Nevada, USA. Jerritt
Canyon is operated by Queenstake Resources USA, Inc., (“Queenstake”) a
wholly-owned subsidiary of Yukon-Nevada Gold Corp. (“YNG” or the
-- TJ-353 intersected 30.80 meters at 10.53 g/t gold -- TJ-356 intersected 27.60 meters at 8.37 g/t gold -- TJ-357 intersected 17.99 meters at 9.81 g/t gold
This press release updates the 2011 surface drilling program specific to
the Starvation project and completed as part of the pre-development due
diligence process. The 2011 Starvation drill program consisted of 12
oriented diamond core drill holes totaling 5,251 ft. (1,602 m) and 12
reverse circulation (RC) drill holes totaling 7,490 ft. (2,284m). The
RC drill hole assay results were previously published in a YNG press
release on January 31, 2012.
The diamond drill program had two objectives:
1) collect oriented drill core for laboratory test-work to enable an
assessment of the rock mechanics of the deposit to help with mine
engineering design (3 drill holes);
2) target additional ore body drill penetrations to enable
conversion of inferred resources (identified in the previously
published Jerritt Canyon December 31, 2011 National Instrument 43-101
Technical Report dated April 27, 2012) to the indicated and/or measured
category (9 drill holes).
Three oriented diamond drill holes were targeted to assess the
geotechnical characteristics of the proposed surface portal and
underground decline that will provide access to the deposit resources.
These drill holes (TJ-359, TJ-362, and TJ-363) were sampled and assayed
and did not return any significant assay results.
Of the nine drill holes drilled within the resource boundary for
resource conversion and/or geotechnical information, seven drill holes
contained significant mineralization. The significant assay results
received as of July 16, 2012 are listed in Table 1 below and are also
listed in a complete compilation table on the YNG website at http://www.yukon-nevadagold.com/s/DrillHole_Assays.asp. A surface plan map showing the drill hole locations and the drill hole
assay highlights can be found on the Company website here http://www.yukon-nevadagold.com/i/pdf/StarvationDrillingMap_2011.pdf and here http//: www.yukon-nevadagold.com/i/pdf/StarvationDrillAssayResults_2011update.pdf.
Table 1. Significant 2011 Diamond Drill Hole Assay Results from
________________________________________________________________ | | From | To | Length | | |Hole ID| Feet (ft) |Feet (ft) |Feet (ft) | Gold Grade | | | Meters (m)|Meters (m)|Meters (m)| | |_______|_____________|__________|__________|____________________| |TJ-352 | 338.5 ft | 357.5 ft | 19.0 ft | 0.229 opt | | | 103.24 m | 109.04 m | 5.79 m | 7.85 g/t | |_______|_____________|__________|__________|____________________| |TJ-353 | 122.0 ft | 152.0 ft | 30.0 ft | 0.221 opt | | | 37.21 m | 46.36 m | 9.15 m | 7.58 g/t | |_______|_____________|__________|__________|____________________| |TJ-353 | 288.0 ft | 389.0 ft | 101.0 ft | 0.307 opt | | | 87.84 m | 118.64 m | 30.80 m | 10.53 g/t | |_______|_____________|__________|__________|____________________| |TJ-355 | 448.5 ft | 508.0 ft | 59.5 ft | 0..222 opt | | | 170.80 m | 154.94 m | 18.15 m | 7.61 g/t | |_______|_____________|__________|__________|____________________| |TJ-356 | 397.5 ft | 488.0 ft | 90.5 ft | 0.244 opt | | | 121.24 m | 148.84 m | 27.60 m | 8.37 g/t | |_______|_____________|__________|__________|____________________| |TJ-357 | 338.0 ft | 397.0 ft | 59.0 ft | 0.286 opt | | | 103.09 m | 121.08 m | 17.99 m | 9.81 g/t | |_______|_____________|__________|__________|____________________| |TJ-358 | 208.0 ft. | 238.0 ft | 30.0 ft | 0.231 opt | | | 63.44 m | 72.59 m | 9.15 m | 7.92 g/t | |_______|_____________|__________|__________|____________________| |TJ-361 | 608.0 ft | 648.0 ft | 40.0 ft | 0.219 opt | | | 185.44 m | 197.64 m | 12.20 m | 7.51 g/t | |_______|_____________|__________|__________|____________________| |Notes: Drill holes TJ-359, TJ-362, and TJ-363 were geotechnical| |drill holes with no significant assay results; Drill holes | |TJ-354 and TJ-359 contain no significant assay results | |________________________________________________________________|
Golder & Associates are the engineering firm that was contracted to
conduct the geotechnical data collection and oversee laboratory test
work for this drill program. A final report detailing their findings
and recommendations is forth coming.
Assaying of all samples from the 2011 surface drill program reported in
this news release were conducted by ALS Laboratory Group in Reno,
Nevada using standard fire assay techniques. Assay intercepts are
reported as drilled. True widths have not yet been calculated; given
the geometry of the mineralization at Jerritt Canyon, the concept of
true width is not always meaningful before delineation drilling has
been completed. The company’s 2010 and 2011 Quality Assurance and
Quality Control protocols are available at the Company’s website: http://www.yukon-nevadagold.com/i/pdf/JC_Assay_Protocols.pdf
The information in this news release was compiled and reviewed by
William Hofer B.Sc., Chief Geologist, Jerritt Canyon Mine. The
information contained in this news release has been reviewed and
approved by the Company’s Vice President of Exploration, Todd Johnson,
M.Sc. (Qualified Person per the requirements of NI 43-101).
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
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SOURCE Yukon-Nevada Gold Corp.