Yukon Gold Corporation

Published : August 09th, 2007

Recently Completed NI 43-101 Increases Resources by up to 49% at Yukon Gold's Zinc-Copper-Lead Depos

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Recently Completed NI 43-101 Increases Resources by up to 49% at Yukon Gold’s Zinc-Copper-Lead Deposit in the Yukon

 

Toronto, Canada, August 7, 2007, Yukon Gold Corporation, Inc. (“Yukon Gold”), (TSX: YK,
OTCBB: YGDC) is pleased to announce today that the Company is in receipt of an updated National Instrument 43-101 Technical Report on the Company’s 100% owned Marg Property, a polymetallic deposit, located in the Yukon Territory, Canada.

 

The report was provided to Yukon Gold by Archer Cathro & Associates (1981) Limited & Giroux Consultants Ltd (Archer Cathro/Giroux), both of Vancouver, BC.  The report has been filed with SEDAR (www.sedar.com) and the report can also be found in its entirety on Yukon Gold’s corporate website, (www.yukongoldcorp.com). Significant results from this report and Yukon Gold’s comments are as follows:

 

Mineral Resource Estimate

A 3-Dimensional geologic solids model was produced by Archer Cathro from level plans, longitudinal and cross sections.  A total of 16 individual solids were formed within 11 main mineralized lenses.  Geologic continuity has been established through diamond drilling with the mineralized lenses interpreted from reasonably spaced drill fences.  The Archer Cathro/Giroux resource estimates at 0.5% and 1.00% copper cut-offs are compared to the previous estimate in a 43-101 compliant report by Peter Holbek in March 2005.

 

                                                Archer Cathro/Giroux                          Holbek                   Difference

Cut-Off                                   0.5% Cu       1.00% Cu                         C$40 NSR              0.5%Cu   1.00%Cu                                                               

Indicated Tonnes                 1,930,000    1,720,000                            4,646,200                -58.5%     -62.9%

% Copper                              1.84             1.97                                     1.80

% Zinc                                   4.34               4.59                                   4.77

% Lead                                   2.28               2.40                                   2.57

Silver (g/t)                             56.66             59.72                 65

Gold (g/t)                               0.90               0.95                                   0.99

 

Inferred Tonnes                   6,300,000    4,800,000                            880,800                   +615%     +445%

% Copper                              1.55               1.81                                   1.55

% Zinc                                   4.22               4.64                                   3.75

% Lead                                   2.09               2.28                                   1.90

Silver (g/t)                             50.62             54.47                 50.42

Gold (g/t)                               0.72               0.77                                   0.95

 

Yukon Gold is pleased and encouraged with the 18% to 49% increase in overall resource tonnage estimated at similar to higher average grades, depending on the cut-off applied. The Archer Cathro/Giroux report classified most of the resource as ‘Inferred’ compared to Holbek’s report which classified most of the resource as ‘Indicated’. Yukon Gold was surprised with this reversal in classification since an additional 13 diamond drill holes, mostly infill holes which were successful in intersecting the mineralized zones, were drilled since the Holbek report. Archer Cathro/Giroux has offered no explanation for this change in classification in their report. Yukon Gold is continuing to review this report and may consider a peer review or an audit performed on the estimate by another Qualified Person.

 

Further highlights, conclusions and recommendations from the report are summarized as follows;

 

·         The most important feature of this deposit type from an exploration point of view is their tendency to occur in clusters. Larger VMS camps can have up to 25 discrete occurrences.

 

·         The Marg deposit is significantly larger and higher grade than the global averages for mineral occurrences of this type. The massive sulphide mineralization remains open to resource expansion down plunge to the east, down dip to the south and along strike to the west in untested areas of anomalous soil geochemical response.

 

·         Exploration outside the immediate area of the Marg deposit is only at a preliminary stage, and the overall chance of expanding the Marg deposit resource and of discovering additional VMS occurrences on the property is good.

 

·         The Marg deposit itself is open to expansion by diamond drilling to test areas down the dip and along strike to the east and west of the known resource.

 

·         Metallurgical testing is recommended to build on preliminary work that was previously carried out.

 

·         The Jane Zone is the most prospective of four exploration targets presently known on the Marg property outside the area of the Marg deposit itself. Previous exploration has identified a 600 m long anomalous zone that will require testing.

 

·         Three other areas of anomalous geochemical response are present on the property and they require additional geochemical sampling and geological mapping before they are tested with diamond drilling. In addition, final data reduction of a 2006 property wide VTEM airborne geophysical survey is expected to be completed before the 2007 field season. Any electromagnetic conductors identified by this work should be investigated with geological mapping, prospecting and geochemical sampling to evaluate the potential for VMS massive sulphide mineralization. 

 

This press release has been reviewed by Stewart Fumerton, Ph.D, P. Geo., Vice President, Exploration, Yukon Gold Corporation Inc. and a Qualified Person

 

About Yukon Gold

                                               

Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company.  The Company’s main focus is its late stage Zinc-Copper-Lead 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 19.4 million of the Company’s common shares outstanding.

For More Information:

                                               

Yukon Gold Corporation, Inc.                    Bruce Hodgman, Investor Relations                        

Paul Gorman, CEO                                        (905) 582-9744                                              

(416) 865-9869                                               Toll Free (800) 295-0671                                             

E: pgorman@yukongoldcorp.com            bhodgman@yukongoldcorp.com

 

                                    Company Website: www.yukongoldcorp.com

 

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.

Yukon Gold Corporation

CODE : YK.TO
ISIN : US9884801096
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Yukon Gold Corporation
6/2/2011Is the Yukon Gold Rush Over-Hyped?
12/3/2010Yukon Gold Rush, Northern Exposure
Annual reports of Yukon Gold Corporation
Annual Report 2006
Financings of Yukon Gold Corporation
1/23/2008 Extends Expiry Date of Over 4-Million Share Purchase Warran...
11/19/2007 Closes Final Tranche of Private Placement
Nominations of Yukon Gold Corporation
6/14/2007Appoints Stewart Fumerton Ph.D., P.Geo to Vice-President Exp...
Project news of Yukon Gold Corporation
7/25/2012Comstock Metals' Yukon Gold Discovery 3.74 grams per tonne g...
6/28/2011Smash Minerals, 18 May 2011: Smash Minerals commences Yukon ...
2/6/2008 Plans Scoping Study as First Step toward Production at its ...
8/9/2007Recently Completed NI 43-101 Increases Resources by up to 49...
5/1/2007to Drill High Grade Gold/Silver Vein Targets on its Mt. Hint...
Corporate news of Yukon Gold Corporation
12/20/2007Announces President and VP of Corporate Development
12/5/2007Drills A 7.3m intersection grading 2.7% Cu
11/28/20072007 Work Program Returns Silver Grades Averaging 183g/t
11/13/2007INDUSTRY REPORT - Analysts Foresee $1,000 Gold in Near Futur...
10/4/2007Completes VTEM Exploration Program on Mt. Hinton
10/1/2007CCM Research Issues Technical Research Report on Yukon Gold ...
9/18/2007CCM Initiates Coverage on Yukon Gold
9/17/2007 Press Release - September 17, 2007
9/5/2007Lists on Frankfurt Stock Exchange
7/17/2007VTEM helicopter survey outlines EM conductor at its Zinc-Cop...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (YK.TO)OTC BB (YGDC.OB)
0.060+20.00%0.030+0.00%
TORONTO
CA$ 0.060
09/25 17:40 0.010
20%
Prev close Open
0.050 0.055
Low High
0.050 0.060
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.060 -%
Volume 1 month var.
421,500 -%
24hGold TrendPower© : 37
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.16+0.56%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.35-4.86%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.37+2.43%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59+0.51%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.70+0.75%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.35+3.09%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26-11.86%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.36+26.79%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.08+3.48%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 65.55+1.69%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :