March 04, 2010 Yukon-Nevada Gold Corp. Intersects 3.05 Meters Of 84.5 G/T Gold At Ketza River Project
Vancouver, BC -- March 4, 2010 -- Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to announce that it has recently received assay results for the remainder of the diamond drilling program conducted in 2008. The Ketza River property is wholly-owned by Yukon-Nevada Gold Corp. ("YNG") and is a past gold producer located near the town of Ross River, Yukon Territory, Canada.
YNG reactivated the Ketza River project camp in May 2009. Since that time the following exploration work has been carried out:
Logging, sampling, and assaying of the remaining diamond drill holes completed in 2008;
reconnaissance mapping and surface rock-chip sampling on outlying targets;
geophysics;
drill targeting and diamond drilling;
historical drill hole data verification; and
geological modeling to support a new resource estimation.
Results were received from the Gold Flow, 3-M and QB zones in the Shamrock area and from the Hoodoo, Tarn and Break Zones in the Manto area. Most of the drill holes were targeted to expand the margins of known mineralized zones and to explore new targets. Five of the reported drill holes were drilled within the known resource areas, using similar drill hole assay quality assurance and quality control procedures as the other exploratory drill holes, to acquire mineralized rock for metallurgical test work. Highlights of these results are described below and the complete results are shown in Table 1 below. The mineralized zones and targets are shown in Figure 1 which can be found on our website: http://yukon-nevadagold.com/i/maps/KetzaTargets2010.jpg
Shamrock -- Gold Flow Target
Three drill holes were drilled to test altered zones up slope from a major soil anomaly. Drill hole KR-08-1461 returned several intercepts, including 3.05 meters grading 6.92 g/t Au, starting at 8.23 meters.
Mantos - Hoodoo Zone
Results were received for 10 drill holes. Highlights include drill hole KR-08-1455, which cut 9.14 meters grading 32.98 g/t Au. This included 3.05 meters assaying 84.50 g/t Au. Another highlight of the results was drill hole KR-08-1460, which contained a 1.30 meter interval of 24.90 g/t Au.
Mantos - Tarn Zone
Assays were received for 10 drill holes in the Tarn Zone. The best intercept was from drill hole KR-08-1354, which intersected 6.09 meters and assayed 6.76 g/t Au starting at 14.33 meters. Also significant was drill hole KR-08-81 which intersected 2.15 meters which assayed 3.61 g/t Au starting at 27.42 m.
Table 1
2008 Ketza River Project Drilling Results (all results as weighted
averages)
DDH
North (m)
East (m)
Elev.
(m)
Az
Dip
Depth
(m)
From (m)
To (m)
Width
(m) (1)
g/t Au
Shamrock - Gold Flow
KR-08-1459
6,827,193
645,633
1,804
268
-85
193
No
significant intercept
KR-08-1461
6,827,193
645,631
1,804
268
-44
167
8.23
11.28
3.05
6.92
and
20.42
23.47
3.05
1.09
and
135.55
136.76
1.21
3.77
and
145.39
145.96
0.57
6.28
KR-08-1465
6,827,232
645,526
1,765
273
-86
185
74.78
77.18
2.4
1.16
Shamrock - 3-M Zone
KR-08-1445
6,826,978
645,819
1,820
82.5
-44.3
145
No
significant intercept
KR-08-1449
6,826,978
645,818
1,820
47.3
-64.8
145
No
significant intercept
KR-08-1451
6,826,908
646,015
1,772
296.6
-46.6
191
162.5
163.63
1.13
1.33
KR-08-1453
6,826,908
646,015
1,772
295.9
-65.3
170
84.43
100.19
15.76
1.46
KR-08-1454
6,826,946
646,003
1,771
320.8
-43.7
183
12.41
14.46
2.05
5.6
and
73.23
75.8
2.57
1.1
KR-08-1457
6,826,898
646,007
1,771
321.5
-44.8
118
No
significant intercept
Shamrock - QB Zone
KR-08-1407
6,826,264
646,289
1,398
55
-63
138
No
significant intercept
* KR-08-1292
646,126
6,826,401
1,499
45
-85
97
66.14
66.68
0.54
5.39
* KR-08-1295
646,229
6,826,363
1,452
71
-86
124
73.62
76.1
2.48
2.13
Shamrock - Gully Zone
* KR-08-1296
645,290
6,826,650
1,745
35
-60
106
56.11
59.9
3.79
12.2
Mantos - Break Zone
KR-08-1393
6,825,660
645,703
1,515
193
-84
148
No
significant intercept
KR-08-1399
6,825,695
645,776
1,490
180
-56
292
92.25
94.09
1.84
4.63
Mantos - Hoodoo Zone
KR-08-1450
6,825,857
644,352
1,848
203
-66
164
79.98
80.71
0.73
1.10
KR-08-1452
6,825,856
644,352
1,848
202
-46
179
67.20
72.24
5.04
2.04
KR-08-1455
6,825,857
644,353
1,848
213
-85
191
57.00
66.14
9.14
32.98
including
57.00
60.05
3.05
84.50
KR-08-1456
6,825,856
644,350
1,848
20
-77
170
No
significant intercept
KR-08-1458
6,825,857
644,351
1,848
20
-58
185
No
significant intercept
KR-08-1460
6,825,859
644,311
1,841
251
-86
164
39.81
41.30
1.49
1.98
and
70.19
71.49
1.30
24.90
KR-08-1462
6,825,855
644,307
1,841
14
-76
108
No
significant intercept
KR-08-1463
6,825,855
644,307
1,841
17
-61
41
No
significant intercept
KR-08-1464
6,825,855
644,307
1,841
15
-68
170
38.71
41.76
3.05
1.66
KR-08-1466
6,825,867
644,277
1,835
200
-85
39
16.32
17.37
1.05
3.20
Mantos - Calcite (Lab) Zone
* KR-08-1282
644,546
6,825,264
1,568
92
-80
97
9.63
13.42
3.79
9.63
Mantos - Tarn Zone
KR-08-1346
6,824,702
643,560
1,615
86
-85
133
No
significant intercept
KR-08-1348
6,824,715
643,538
1,616
106
-86
69
No
significant intercept
KR-08-1350
6,824,715
643,522
1,616
96
-87
148
5.75
8.35
2.6
2.31
KR-08-1352
6,824,639
643,494
1,631
101
-85
158
No
significant intercept
KR-08-1354
6,824,639
643,495
1,631
92
-60
118
14.33
20.42
6.09
6.76
KR-08-1380
6,824,640
643,495
1,631
49
-45
124
29.57
31.10
1.53
1.30
KR-08-1381
6,824,640
643,495
1,631
43
-58
121
27.42
29.57
2.15
3.61
KR-08-1383
6,824,706
643,487
1,626
84
-85
136
No
significant intercept
KR-08-1385
6,824,706
643,488
1,626
84
-59
142
No
significant intercept
KR-08-1386
6,824,706
643,489
1,626
84
-44
136
No
significant intercept
Mantos - Peel Zone
* KR-08-1285
645,701
6,825,517
1,446
47
-83
149
58.52
60.05
1.53
2.92
75.21
75.9
0.69
4.35
Note: (1) Width is not
necessarily indicative of true width
(2) All gold assay composite results are
uncut
* Holes
drilled for metallurgical samples
Current Drilling
A Titan-24 deep imaging geophysical survey conducted in the fall of 2009 has identified several induced--polarization (IP) anomalies that are currently being investigated or drilled. One of the IP anomalies is located beneath the existing QB gold resource in the Shamrock area which also corresponds with a prominent northwest-trending gold-in-soil anomaly. A deep diamond drill hole is currently in progress that targets this IP anomaly.
Assay results included in this release are reported as drilled and were performed by ALS-Chemex in North Vancouver, Canada using standard fire assay techniques. The Company's Quality Assurance and Quality Control protocols are available in the Company's most recent NI-43-101 Technical Report posted on the YNG website (http://www.yukon-nevadagold.com/s/KetzaManto.asp) or available at www.sedar.com.
This news release was reviewed and approved by the Chief Geologist of the Ketza River Project Ed Gates (M.Sc., P.Geo), the Qualified Person for purposes of this release.
Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.
CHF Investor Relations
Jeanny So
Director of Operations
Tel: (416) 868-1079 ext. 225
Email: www.chfir.com
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