Yukon Gold Corporation

Published : December 05th, 2007

Drills A 7.3m intersection grading 2.7% Cu

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December 5, 2007

Yukon Gold Corp - Press Release

 


Yukon Gold Drills A 7.3m intersection grading 2.7% Cu, 4.4% Zn and 2.1% Pb extending Marg Deposit.

 

 


Toronto, Canada, December 5th 2007, Yukon Gold Corporation, Inc. ("Yukon Gold"), (TSX: YK, OTCBB: YGDC, Frankfurt: W8Y) is pleased to announce results of the 2007 diamond drill program at its 100% owned Marg Property, a copper/zinc/lead deposit, located in Yukon Territory, Canada.

With a skid mounted rig, 2,395 metres were drilled in 7 holes to test the extension of the known mineralization.

Highlights of the drill results are outlined below:







This drill program has continued to expand the limits of the Marg mineralization down dip and along strike, which is very encouraging. It is intended to incorporate these results into a revised 3D model to guide future work.

An additional 603m was drilled with a heli-portable rig to test outlying targets defined by soil geochemical sampling and the VTEM survey which was flown over the property last year. Two of these holes were lost in deep overburden. A third hole, offset from the Jane Zone, intersected a carbonate rich exhalative horizon.
Such exhalative horizons are often associated with mineralized sulphide horizons and this is encouraging. The last hole intersected strata with thin lamellae of pyrite and pyrrhotite but with no copper or zinc values. There still are 17 other VTEM anomalies identified on the property that are associated with soil geochemical anomalies which have to be drill tested. A proposed drill program for 2008, will be the first time exploration targets outside of the immediate Marg Deposit are drill tested in a dedicated program since the original discovery. Success in such a program to locate satellite deposits, will significantly enhance the prospects of developing a mine at the Marg.

A QA/QC program was implemented on this project and consisted of blanks and certified standards being inserted into the sample stream. All samples were analysed by ALS Chemex in Vancouver.

The Qualified Person who prepared this press release is Stew Fumerton, Ph.D., P. Geo. VP Exploration for Yukon Gold.

About Yukon Gold

Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company. The Company's main focus is its Zinc-Copper-Silver deposit (Marg Property) and its Mount Hinton Gold and Silver exploration project in the Central Yukon Territory of Canada. These properties lie within the Tombstone Gold Belt, world renowned for the discovery of major gold, silver and base metal deposits. Currently, there are approximately 28.9 million of the Company's common shares outstanding.
For More Information:

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Cautionary Note to US Investors
� The United States Securities and Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms, such as "reserves," "resources," "geological resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 000-51068. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.



CONTACT INFORMATION

Corporate Inquiries
Bruce Hodgman
Investor Relations
(905) 582-9744
Toll Free (800) 295-0671
bhodgman@yukongoldcorp.com

Paul Gorman CEO
(416) 865-9869
pgorman@yukongoldcorp.com
Company Website: http://www.yukongoldcorp.com

Investor Relations

AGORACOM Investor Relations
http://www.agoracom.com/IR/YukonGold
YK@agoracom.com

 

 

 

 

 

FEATURED LINKS

Yukon Gold Web Site

Yukon Gold IR HUB

 

 

 

 

 






Yukon Gold Corporation

CODE : YK.TO
ISIN : US9884801096
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Yukon Gold is a gold exploration company based in Canada.

Yukon Gold holds various exploration projects in Canada.

Its main exploration properties are MARG VMS, MONUT HINTON, MAMMOTH, MARG and MOUNT HINTON in Canada.

Yukon Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.4 millions as of today (US$ 2.4 millions, € 1.6 millions).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 2.40, and its lowest recent point on December 19, 2008 at CA$ 0.02.

Yukon Gold has 40 490 000 shares outstanding.

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