Dear Subscriber, |
November 27, 2007 |
Vancouver,
Canada - November 27, 2007 - Yukon-Nevada Gold Corp. (Toronto Stock Exchange:
YNG; Frankfurt Xetra Exchange: NG6) announces results of its exploration
drilling in the Mahala Creek area at its wholly
owned, gold production Jerritt Canyon property in Nevada, USA.
One
area of significant emphasis during the 2007 exploration program at Jerritt Canyon
has been on the Mahala
Basin and Western Zone 2
of the Smith Mine. (see Figure 1. On web page). Exploration here has focused
both on resource and reserve additions to existing ore shapes and to the search
for entirely new ore bodies between the Smith/Mahala and SSX Mines.� There are currently five reverse circulation
drills and one core drill active in this area.�
Encouraging assays have been received from several targeted areas.�� Assays reported in this news release are
from reverse circulation holes drilled from surface.� The drill program is ongoing and results from
core holes have not been received yet.
Drilling
on strike of mineralization in the Smith Mine's Zone 2 has intersected
significant gold grades in SH-1178A almost 2,000 feet (610 m) west of the
current workings.� The persistence of
this mineralization is supported by SH-1175A and SH-1177A, as listed in Table 1
(below):
Table 1.
Drill Hole
|
From
|
To
|
Thickness
|
Grade
|
Number
|
ft
|
(m)
|
ft
|
(m)
|
ft
|
(m)
|
Opt
|
g/t
|
|
Zone 2
Extension
|
|
|
|
|
|
|
SH-1175A
|
1460
|
445.1
|
1480
|
451.2
|
20
|
6.1
|
0.241
|
8.26
|
|
1490
|
454.3
|
1500
|
457.3
|
10
|
3
|
0.260
|
8.91
|
SH-1176
|
1220
|
371.9
|
1235
|
376.5
|
15
|
4.6
|
0.213
|
7.30
|
SH-1177A
|
1185
|
361.3
|
1215
|
370.4
|
30
|
9.1
|
0.238
|
8.16
|
SH-1178A
|
915
|
279.0
|
945
|
288.1
|
30
|
9.1
|
0.415
|
14.23
|
|
Mahala Extension Zone 8�
|
|
|
|
MAH-364
|
785
|
239.3
|
800
|
243.9
|
15
|
4.6
|
0.259
|
8.88
|
|
815
|
248.5
|
820
|
250
|
5
|
1.5
|
0.152
|
5.21
|
|
915
|
279.0
|
920
|
280.5
|
5
|
1.5
|
0.169
|
5.79
|
MAH-365
|
545
|
166.2
|
550
|
167.7
|
5
|
1.5
|
0.170
|
5.83
|
|
725
|
221.0
|
730
|
222.6
|
5
|
1.6
|
0.212
|
7.27
|
MAH-366
|
665
|
202.7
|
680
|
207.3
|
15
|
4.6
|
0.198
|
6.79
|
MAH-367
|
640
|
195.1
|
655
|
199.7
|
15
|
4.6
|
0.316
|
10.83
|
MAH-371
|
975
|
297.3
|
980
|
298.8
|
5
|
1.5
|
0.161
|
5.52
|
MAH-374
|
750
|
228.7
|
755
|
230.2
|
5
|
1.5
|
0.184
|
6.31
|
|
Z4
South
|
|
|
|
|
|
|
MAH-382
|
625
|
190.5
|
645
|
196.6
|
20
|
6.1
|
0.188
|
6.44
|
MAH-383
|
725
|
221.0
|
740
|
225.6
|
15
|
4.6
|
0.198
|
6.79
|
|
745
|
227.1
|
760
|
231.7
|
15
|
4.6
|
0.245
|
8.40
|
|
Mahala Basin�
|
MAH-376
|
1370
|
417.7
|
1380
|
420.7
|
10
|
3
|
0.178
|
6.10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Drilling
continues to support the potential for growth of the Zone 8 resource area.� Drill results greater than 0.150 opt (5.1g/t)
Au are listed in Table 1.� Seven holes drilled as part of this program
(SH-1181A, SH-1182A, MAH-363, MAH-368, MAH-369, MAH-370, and MAH-372) had no
intercepts greater than 0.150 opt (5.1 g/t).
Favorable
results from MAH-382 and MAH-383 (listed above) appear to indicate an
additional target environment with potential for new discoveries.� The intervals listed are within much thicker
section of anomalous gold.� The
mineralization appears to be related to a structure or structures sub-parallel
to the Mahala Dike trend with a potential strike length equivalent to the Mahala
Dike trend.� Drills are currently testing
this concept.
Drills
are also testing an area 3,000-4,500 (915-1370m) southwest of the Zone 4 (see
Figure 2. On web page) in Smith along dike exposures.� MAH-376 encountered 10' (3m) of
mineralization with 0.168 opt (6.1g/t) assays.
"The
discovery of this new corridor of mineralization between the Smith and SSX
mines is exactly the kind of result that we have been looking for with our
aggressive exploration budget at Jerritt", said Yukon-Nevada Gold Corp.'s
President Graham Dickson. "It validates our geologists belief that in addition
to adding resources to existing mines at Jerritt Canyon
they will discover entirely new ore bodies within the district," he further
added. "That this corridor compares geologically and geochemically with other
zones at Jerritt Canyon that have hosted multiple ore
bodies greater than one million ounces is extremely exciting."
Assays
from surface exploration 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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