YUKON-NEVADA GOLD CORP. REPORTS ON PROGRESS AT KETZA RIVER AND JERRITT
CANYON
Vancouver, Canada – July 18, 2007 – Yukon-Nevada Gold Corp. (Toronto
Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) announces results
from its drilling program at the Penguin, Flint and Tarn Zones all parts
of the Ketza River Mine Manto Gold Zone on the wholly-owned, past producing,
Ketza River property located near Ross River, in the Yukon Territory,
Canada. All drill holes referenced in this news release are Diamond drill
holes.
Penguin Zone
The Penguin mineralization strikes northeast and dips approximately 45
degrees to the northwest. Results have been received for 24 drill holes
from the Penguin zone since the last report. The highlight of these results
is Drill hole KR-07-1042, the last one received. This drill hole cut a
true thickness of 10.26 meters of massive sulfide that averaged 11.16
g/t Au. This intercept included a higher grade zone of 2.68 meters that
averaged 18.27 g/t Au. The top of this mineralization is approximately
16 meters below the surface. Drill hole KR-07-1040 cut the mineralized
structure approximately 30 meters downdip from drill hole 1042. This intercept
carried an average of 13.50 g/t Au over a true thickness of 1.79 meters.
Table 1. Penguin Zone
|
|
Drill Hole Number
|
From
|
To
|
Thickness True (m)
|
Grade g/t Au
|
KR-07-971
|
58.24
|
62.34
|
4.08
|
2.80
|
|
76.73
|
79.22
|
2.48
|
6.21
|
KR-07-1022
|
35.66
|
37.00
|
1.03
|
2.06
|
|
39.48
|
41.76
|
1.75
|
2.62
|
|
91.17
|
93.57
|
1.84
|
15.35
|
|
102.72
|
104.11
|
1.06
|
15.60
|
KR-07-1023
|
44.81
|
47.85
|
2.73
|
1.49
|
|
70.92
|
72.24
|
1.19
|
9.70
|
KR-07-1024
|
52.50
|
57.00
|
4.48
|
4.29
|
|
58.26
|
63.39
|
5.10
|
1.28
|
KR-07-1025
|
26.52
|
32.61
|
4.67
|
2.12
|
KR-07-1028
|
19.00
|
25.27
|
4.76
|
2.32
|
KR-07-1029
|
19.50
|
30.79
|
10.27
|
2.82
|
KR-07-1031
|
14.63
|
21.06
|
4.90
|
2.94
|
KR-07-1032
|
12.18
|
17.37
|
4.71
|
2.23
|
|
19.24
|
19.84
|
0.54
|
1.38
|
KR-07-1033
|
13.80
|
16.35
|
1.93
|
7.29
|
KR-07-1034
|
13.32
|
17.37
|
3.67
|
1.71
|
KR-07-1035
|
8.23
|
12.60
|
3.35
|
4.91
|
KR-07-1037
|
17.37
|
19.12
|
1.33
|
4.34
|
KR-07-1038
|
40.85
|
43.33
|
2.42
|
5.18
|
KR-07-1040
|
71.79
|
73.65
|
1.79
|
13.50
|
KR-07-1042
|
16.66
|
30.32
|
10.26
|
11.16
|
|
22.40
|
25.97
|
2.68
|
18.27
|
|
Drill holes KR-07-967, 970, 1018 thru 1021, 1026, 1027, 1030 and 1039
had no significant intersections.
Flint Zone
The Flint Zone comprises an area of 400 meters by 500 meters, and includes
8 distinct magnetic highs. A total of 31 Diamond drill holes have been
completed in this area, testing several of the magnetic anomalies. The
best grade was found in drill hole KR-07-977, which cut 1.55 meters true
thickness that assayed 6.17 g/t Au.
Table 2. Flint Zone
|
|
Drill Hole Number
|
From
|
To
|
Thickness True (m)
|
Grade g/t Au
|
KR-07-973
|
96.62
|
99.67
|
2.87
|
1.48
|
KR-07-975
|
128.60
|
130.15
|
1.19
|
1.08
|
|
131.65
|
133.56
|
1.46
|
1.11
|
KR-07-976
|
82.88
|
84.43
|
1.46
|
2.12
|
|
86.03
|
87.48
|
1.36
|
1.56
|
KR-07-977
|
98.12
|
99.67
|
1.55
|
6.17
|
KR-07-978
|
111.86
|
113.48
|
1.52
|
1.45
|
KR-07-986
|
114.91
|
117.96
|
2.76
|
2.67
|
|
130.15
|
131.95
|
1.63
|
1.88
|
KR-07-987
|
112.40
|
113.06
|
0.65
|
2.23
|
KR-07-996
|
60.05
|
61.45
|
1.40
|
1.48
|
KR-07-1003
|
53.95
|
55.40
|
1.34
|
1.24
|
|
Drill holes KR-07-972, 974, 979, 980 thru 985, 997, 999 thru 1002 and
1004 thru 1010 had no significant intersections.
Tarn Zone
Eight drill holes were completed to the south of the Tarn Pit, testing
for an extension of the trend which includes the Tarn Pit and drill holes
KR-06-956 and KR-06-957. Gold intercepts ranged from 1.74 to 2.51 g/t
Au. The best intercept was in drill hole KR-07-991, which cut a true thickness
of 3.83 meters from 50.52 to 54.48 meters that assayed 2.51 g/t Au.
Table 3. Tarn Zone
|
|
Drill Hole Number
|
From
|
To
|
Thickness True (m)
|
Grade g/t Au
|
KR-07-988
|
54.90
|
58.74
|
2.74
|
1.83
|
KR-07-989
|
32.61
|
38.71
|
5.65
|
1.74
|
KR-07-991
|
50.52
|
54.48
|
3.83
|
2.51
|
KR-07-992
|
63.09
|
66.14
|
2.15
|
2.35
|
KR-07-993
|
68.66
|
69.65
|
0.93
|
2.06
|
KR-07-995
|
60.05
|
64.60
|
4.40
|
1.89
|
|
Drill holes KR-07-990 and 994 had no significant intersections.
Jerritt Canyon
During the scheduled maintenance shutdown at the end of the second quarter
examination of the roasters' linings revealed very little wear and tear.
Also during this shutdown the replacement ball mill bull gear was successfully
installed allowing the ball mill to once again run at its full capacity.
Strategies for reducing unit costs are being implemented and the Company
can expect to see the impact of this in the third quarter's results.
All assays for the drill program at Ketza River were by ALS Chemex, North
Vancouver, B.C. This news release was reviewed and approved by, the Company's
Chief Geologist, Edward Gates, M.Sc., P.Geo., the Qualified Person for
the purposes of this release, and by the Company's Executive Vice President
- Exploration, Dorian L. (Dusty) Nicol, M.Sc., P, Geo.
If you would like to receive press releases via email please contact
nicole@yngc.ca and specify "YGC releases"
in the subject line.
The TSX Exchange 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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