Yukon Gold Corporation

Published : July 17th, 2007

VTEM helicopter survey outlines EM conductor at its Zinc-Copper-Silver Deposit in the Yuk

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Yukon Gold VTEM helicopter survey outlines EM conductor at its Zinc-Copper-Silver Deposit in the Yukon

 

Toronto, Canada, July 17, 2007, Yukon Gold Corporation, Inc. (“Yukon Gold”), (TSX: YK, OTCBB: YGDC) announced today that it has received encouraging results from the Versatile Time Domain Electromagnetic and Magnetic Survey (VTEM) that was flown over its Marg Zinc-Copper-Silver Deposit by Geotech Limited of Aurora, Ontario.

 

This is the first airborne geophysical survey flown over the property in the search for electromagnetic conductors related to massive sulphide mineralization.  The survey covered 58km2 and 366 line kilometres were flown, using 200 metre flight line spacing.  The VTEM survey area covers the portion of the Marg claims that is underlain by the highly prospective Devonian to Mississippian, Earn Group meta-volcanic and meta-sedimentary sequence.

 

A preliminary evaluation of the survey results has been completed by Archer, Cathro & Associates (1981) Limited.  In this evaluation, a total of 447 individual anomalies were identified, however, the great majority of these anomalies are in non-prospective rocks and probably represent conductive rock units or fault zones.  Within the prospective Earn Group, a sequenced number of 16 anomalies have been identified and ranked in importance (see map at http://yukongoldcorp.com/projects/index.html).  All anomalies identified within the Earn Group occur at the prospective contact between felsic meta-volcanic rocks and overlying carbonaceous, argillaceous meta-sedimentary rocks, in the same stratigraphic setting as the Marg deposit. These anomalies may represent previously unknown massive sulphide bodies.  The most promising is along strike from the known Jane Zone while the second most promising anomaly is along strike from the Marg Deposit. 

 

A geophysicist has been retained by Yukon Gold to further evaluate the VTEM results and will provide input on selecting the best drill targets.  In addition, geochemical soil sampling on small grids over selected VTEM responses has already started.  This will provide further guidance on ranking the anomalies for drill testing.

 

The Qualified Person who prepared this press release is Stew Fumerton, Ph.D., P. Geo. VP Exploration for Yukon Gold.  Results from the anomaly evaluation program will be published as they are made available and reviewed by Yukon Gold’s management team.

 

 

 

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 22.8 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
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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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