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.