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Dear
Subscriber,
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January 14, 2008
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Vancouver, Canada -
January 14, 2007 - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG;
Frankfurt Xetra Exchange: NG6) announces results of its exploration drilling in the
SSX Mine/Steer Mine area at its wholly owned, gold production Jerritt
Canyon property in Nevada, USA.
SSX Mine 2007 Drilling Update
Drilling with underground diamond drills (core) and reverse circulation
(RC) has continued to extend and identify new resources within the SSX -
Steer Mine Complex. From January 1 to November 30, 405 resource conversion
holes (including both RC and core) were drilled totaling 69,547 feet (21,198
meters).
All intercepts reported in this News Release are outside the resource
boundaries as estimated at year-end 2006 and therefore represent additions
to mineralization.
Zone 7 - Steer Resource
Early in the year several RC holes were drilled into an inferred resource
in the hanging wall of the Husky Fault. Mineralization was encountered at
the contact between units 3 and 4 of the Hanson Creek Formation. Highlights
of intercepts included Z70590 with 70 feet (21.3 meters) of 0.210 ounces of
gold per ton (opt) or 7.20 grams of gold per tonne (gpt), Z70591 with 45
feet (13.7 meters) of 0.303 opt (10.38 gpt), Z70593 with 55 feet (16.8
meters) of 0.288 opt (9.87 gpt) and Z70594 45 feet (13.7 meters) of 0.243
opt (8.33 gpt). Follow up core drilling was done in the late summer and
resulted in additional intercepts including SR-134 with 47.5 feet (14.5
meters) of 0.281 opt (9.63 gpt) and SR-135 with 69 feet (21 meters) of
0.213 opt (7.30 gpt). This is immediately below an area that has been
actively mined over the last couple of years.
Table 1. Zone 7 - Steer
Resource
|
Drill Hole
|
From
|
To
|
Thickness
|
Grade
|
|
Number
|
ft
|
(m)
|
ft
|
(m)
|
ft
|
(m)
|
Opt
|
g/t
|
|
SR-134
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250.5
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76.4
|
298.0
|
90.8
|
47.5
|
14.5
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0.281
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9.63
|
|
SR-135
|
195
|
59.4
|
264
|
80.5
|
69
|
21.0
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0.213
|
7.30
|
|
Z70590
|
185
|
56.4
|
255
|
77.7
|
70
|
21.3
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0.210
|
7.20
|
|
Z70591
|
155
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47.2
|
200
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61.0
|
45
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13.7
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0.303
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10.38
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Z70592
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120
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36.6
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145
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44.2
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25
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7.6
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0.287
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9.84
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Z70593
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240
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73.2
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295
|
89.9
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55
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16.8
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0.288
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9.87
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Z70594
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200
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61.0
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245
|
74.7
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45
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13.7
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0.243
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8.33
|
|
Z70595
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155
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47.2
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180
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54.9
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25
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7.6
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0.256
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8.78
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Z70590
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185
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56.4
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255
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77.7
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70
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21.3
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0.210
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7.20
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Zone 5
During the summer several exploration holes were drilled from the 7166 Ramp
in Zone 5 to test for possible extensions of known mineralization. One of
these RC holes, Z53987, hit 35
feet (10.7 meters) of 0.735 opt (25.19 gpt). The hole
bottomed in 0.500 opt (17.14 gpt) rock. Follow up drilling core resulted in
SR-142 hitting 42 feet (12.8
meters) of 0.513 opt (17.58 gpt). These relatively flat
holes will be followed up with additional underground core and surface RC
holes to determine the thickness of the mineralization.
Drifting to establish a secondary escape to the Saval 3 pit encountered
several feet of mineralization in a basalt dike. This mineralization was
tested with underground RC drilling from the 6942 Ramp. Significant results
included Z54257 with 45 feet (13.7
meters) of 0.691 opt
(23.68 gpt), Z54258
with 35 feet (10.7 meters) of 0.446 opt (15.28 gpt), and Z54259 with 35 feet (10.7 meters) of 0.664 opt
(22.76 gpt). Additional core drilling from underground is
underway to determine the extent of this mineralization.
Core drilling on the 7045 level in Zone 5 successfully extended the dike
hosted mineralization an additional 40 feet (12.2 meters) to the east.
Here, SR-143 intercepted 18 feet (5.5 meters) of 0.351 opt (12.03 gpt).
Table 2. Zone 5
|
Drill Hole
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From
|
To
|
Thickness
|
Grade
|
|
Number
|
ft
|
(m)
|
ft
|
(m)
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ft
|
(m)
|
Opt
|
g/t
|
|
SR-142
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359
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109.4
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401
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122.2
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42
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12.8
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0.513
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17.58
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SR-143
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143
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43.6
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161
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49.1
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18
|
5.5
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0.351
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12.03
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Z53987
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240
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73.2
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275
|
83.8
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35
|
10.7
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0.735
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25.19
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Z54252
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45
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13.7
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60
|
18.3
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15
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4.6
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0.385
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13.20
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Z54253
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15
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4.6
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70
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21.3
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55
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16.8
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0.223
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7.65
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Z54256
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25
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7.6
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40
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12.2
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15
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4.6
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0.222
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7.61
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Z54257
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10
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3.0
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55
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16.8
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45
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13.7
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0.691
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23.68
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Z54258
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10
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3.0
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45
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13.7
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35
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10.7
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0.446
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15.28
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Z54259
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15
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4.6
|
50
|
15.2
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35
|
10.7
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0.664
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22.76
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Assays from both surface exploration holes and from 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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