Dear
Subscriber,
|
January 8, 2008
|
Vancouver, Canada -
January 08, 2007 - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG;
Frankfurt Xetra Exchange: NG6)
announces results of its exploration drilling in the Smith Mine/Mahala
Creek area at its wholly owned, gold production Jerritt Canyon property in
Nevada, USA.
Smith Mine 2007 Drilling Update
Drilling with underground diamond drills (core) and reverse circulation
(RC) has continued to extend resources within the Smith / Mahala
Mine. From August to December 2007, 29 resource-conversion holes
(including both RC and core) were completed totaling 7,257 feet (2,212 meters).
Zone 7 - West Dash
Earlier in the year, a new zone of high grade mineralization was discovered
by development drifting directly south of the main ore-zones in West Dash
(first reported in August 7, 2007 YNGC New Release). Subsequent
mapping and drilling defined the mid-level and down-dip portions of the
moderately inclined, N-S trending tabular zone. However, the upper
extent was still unknown. To outline the upper portion, nine new RC
holes were drilled with five of the holes encountering ore-grade
mineralization over mineable widths. Drifting has been initiated on
this zone with mined grades routinely exceeding 0.5 ounces of gold
per ton (opt) or 17.14
grams of gold per tonne (g/T).
Table 1. Zone 7 - West Dash
Drill
Hole Number
|
From
|
To
|
Thickness
|
Grade
|
ft
|
m
|
ft
|
m
|
ft
|
m
|
Opt.
|
g/T
|
C70069
|
120
|
39.4
|
145
|
47.6
|
25
|
7.6
|
0.229
|
7.85
|
C70070
|
120
|
39.4
|
135
|
44.3
|
15
|
4.6
|
0.176
|
6.03
|
C70073
|
165
|
54.1
|
180
|
59.1
|
15
|
4.6
|
0.546
|
18.72
|
C70075
|
130
|
42.7
|
145
|
47.6
|
15
|
4.6
|
0.409
|
14.02
|
C70076
|
140
|
45.9
|
165
|
54.1
|
25
|
7.6
|
0.820
|
28.11
|
Zone 4 - Mahala dike trend
Following emplacement of exploration and development drifting to the
west along the prolific Mahala dike trend, twelve new RC drill holes within
three fans were completed. The results of this drill program show
that the high-grade gold mineralization continues at least 70 feet (21.3 meters) west
of what had been previously outlined. Five intercepts with
significant gold values are listed below.
In addition to the RC drilling, a series of exploration core holes
were drilled from the end of the exploration drift 120 feet to the west
of the RC drilling mentioned above. Assay results from only one hole
are available at this time. The core hole (LX-729) encountered two
mineralized dikes close to the drift.
Table 2. Zone 4 - Mahala Dike
Trend
Drill Hole Number
|
From
|
To
|
Thickness
|
Grade
|
ft
|
m
|
ft
|
m
|
ft
|
m
|
Opt.
|
g/T
|
C40769
|
20
|
6.6
|
35
|
11.5
|
15
|
4.6
|
0.546
|
18.72
|
C40770
|
25
|
8.2
|
55
|
18
|
30
|
9.2
|
1.070
|
36.68
|
C40771
|
20
|
6.6
|
35
|
11.5
|
15
|
4.6
|
0.332
|
11.38
|
C40775
|
75
|
24.6
|
130
|
42.7
|
55
|
16.8
|
0.269
|
9.22
|
C40778
|
75
|
24.6
|
105
|
34.4
|
30
|
9.2
|
0.317
|
10.87
|
LX-729
|
20
|
6.6
|
35
|
11.5
|
15
|
4.6
|
0.186
|
6.38
|
LX-729
|
90
|
29.5
|
109
|
35.8
|
19
|
5.8
|
0.156
|
5.35
|
Zone 2 - Coulee dike trend
As part of an on-going
underground and surface exploration program to identify and delineate gold
mineralization along the Coulee dike trend to the west of current
underground workings, six underground core holes were drilled to the
northwest from a development drift. Results of this drilling have led
to the identification of a narrow, high-grade dike just north of the
development drift. This mineralization ties in with high-grade
intercepts in the bottom of a surface RC drill-hole to the west and in an underground
core hole to the east. High-grade mineralization appears to be
confined to a gently east-plunging rake line about 20 feet high and up to 200 feet long within
the dike. This is a similar configuration to productive zones in the
high-grade R4 and R11 dikes directly to the northeast.
Table 3. Zone 2 - Coulee Dike
Trend
Drill Hole Number
|
From
|
To
|
Thickness
|
Grade
|
ft
|
m
|
ft
|
m
|
ft
|
m
|
Opt.
|
g/T
|
LX-704
|
56
|
18.4
|
72
|
23.6
|
16
|
4.9
|
0.435
|
14.91
|
LX-705
|
86
|
28.2
|
110
|
36.1
|
24
|
7.3
|
0.334
|
11.45
|
LX-707
|
50
|
16.4
|
65
|
21.3
|
15
|
4.6
|
0.343
|
11.76
|
Assays from both surface
exploration holes and underground holes reported in this news release were
by ALS Chemex, North Vancouver, B.C. and 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.
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 Executive Vice President-Exploration, Dorian L. (Dusty)
Nicol, M.Sc., P.Geo., the Qualified Person for purposes of this release.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
WARNING: The Company relies upon
litigation protection for "forward-looking" statements.
This news release does not
constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and
will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
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