Yukon-Nevada Gold Corp. reports on progress at Silver Valley
and Ketza River
Vancouver, Canada – July 25, 2007 – Yukon-Nevada Gold Corp. (Toronto
Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) announces
further results from its drilling program at its wholly owned Silver
Valley property located near Ross River, in the Yukon Territory,
Canada.
Silver Valley
Diamond drilling on the Silver Valley silver-lead-gold-copper property
was put on hold at the end of May, and the drill moved to the Shamrock
area of the Ketza gold project. Drilling to date has focused on
the moderate to deep portions of the vein. A drill capable of drilling
shallow angle holes is required to test the upper part of the vein.
Results have been received for 14 drill holes since the May 16,
2007 news release. These were step-out holes along the vein to the
south, and several contained noteworthy intercepts. See Figure 1.
at www.ygnc.ca
Drill hole SV-07-62 was the last one drilled, and returned 913.0
g/t Ag and 23.3% Pb over a true thickness of 1.83 meters. This intercept
also contained 0.48 g/t Au and 0.9% Cu. Hole SV-07-59 contained
three intercepts, including 1170 g/t Ag and 12.9% Pb over a true
thickness of 0.67 meters, which also contained 0.72 g/t Au and 1.0%
Cu.
Holes drilled to date at Silver Valley are on only one portion
of one exposed vein within the geologically prospective project
area. Line cutting has been completed on this first target area,
in preparation for a ground geophysical survey to identify extensions
of this vein system. Two other ground geophysical grids will cover
the Silver Rain and Silver Belle targets, 2.25 and 3.75 kilometers
southeast of the current area of drilling respectively. An airborne
geophysical survey was recently completed over the Silver Valley
property, which covers approximately 2,400 hectares.
Table 1. Penguin Zone
|
|
Drill Hole Number
|
From
|
To
|
Thickness True (m)
|
Grade g/t Au
|
Grade g/t Ag |
%Pb
|
%Zn
|
%Cu
|
SV-07-50
|
154.53
|
157.58
|
2.86
|
0.55
|
341.0
|
2.9
|
|
0.5
|
SV-07-51
|
73.35
|
75.29
|
1.88
|
|
161.0
|
|
|
|
|
152.63
|
153.00
|
0.36
|
4.23
|
6.0
|
|
|
|
SV-07-52
|
128.65
|
129.65
|
0.92
|
1.00
|
68.9
|
0.1
|
|
0.2
|
SV-07-53
|
113.15
|
114.91
|
1.15
|
|
32.7
|
1.2
|
1.0
|
|
SV-07-55
|
105.77
|
106.57
|
0.77
|
0.52
|
103.0
|
0.5
|
|
0.1
|
SV-07-57
|
134.85
|
136.32
|
1.34
|
1.01
|
739.4
|
0.4
|
0.1
|
1.4
|
SV-07-58
|
63.09
|
64.15
|
0.93
|
0.01
|
23.5
|
1.1
|
2.2
|
|
|
150.73
|
151.61
|
0.78
|
2.58
|
|
|
|
|
SV-07-59
|
47.07
|
47.85
|
0.65
|
0.01
|
197.0
|
7.1
|
1.2
|
|
|
126.4
|
127.29
|
0.67
|
0.72
|
1170.0
|
12.9
|
|
1.0
|
|
159.13
|
160.63
|
1.25
|
4.15
|
5.6
|
0.2
|
|
|
SV-07-60
|
60.05
|
63.09
|
2.79
|
0.30
|
155.0
|
0.3
|
|
0.5
|
SV-07-61
|
47.98
|
48.42
|
0.42
|
0.02
|
212.0
|
6.8
|
1.5
|
|
|
60.05
|
63.64
|
3.42
|
0.92
|
239.5
|
1.1
|
|
1.1
|
SV-07-62
|
63.09
|
64.98
|
1.83
|
0.48
|
913.0
|
23.3
|
|
0.9
|
|
Drill holes SV-07-49, 54, and 56 had no significant intersections.
Ketza Project Update
Drilling continues on the Shamrock area of the Ketza gold project,
with all assays pending. Drilling has commenced on the Hoodoo Zone
oxide target, uphill from the Lab Zone gold deposit. A detailed
ground magnetic survey has been completed, covering the area from
Shamrock through the manto deposits, and other surveys are in progress.
An aggressive target generation and follow-up program is being conducted
this season in addition to infill and step out drilling on the known
resource areas. A revised resource estimate in accordance with National
Instrument 43-101 is being undertaken. This estimate, which will
include additions to mineralization identified since the last 43-101
report in October 2005, will be announced when available.
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 Ketza River's Project Manager, 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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