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Yukon-Nevada Gold Corp. Intersects 3.05 Meters of 84.5 G/T Gold At Ketza River Project

VANCOUVER, March 4, 2010 /PRNewswire via COMTEX/ — Yukon-Nevada Gold Corp.  (CA:YNG) 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.

 

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Table 1

 

2008 Ketza River Project Drilling Results

(all results as weighted averages)

 

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North East Elev. Depth From To Width g/t

 

DDH (m) (m) (m) Az Dip (m) (m) (m) (m)(1) Au

 

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Shamrock – Gold Flow

 

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KR-08-1459 6,827,193 645,633 1,804 268 -85 193 No significant intercept

 

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KR-08-1461 6,827,193 645,631 1,804 268 -44 167 8.23 11.28 3.05 6.92

 

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and 20.42 23.47 3.05 1.09

 

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and 135.55 136.76 1.21 3.77

 

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and 145.39 145.96 0.57 6.28

 

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KR-08-1465 6,827,232 645,526 1,765 273 -86 185 74.78 77.18 2.4 1.16

 

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Shamrock – 3-M Zone

 

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KR-08-1445 6,826,978 645,819 1,820 82.5 -44.3 145 No significant intercept

 

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KR-08-1449 6,826,978 645,818 1,820 47.3 -64.8 145 No significant intercept

 

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KR-08-1451 6,826,908 646,015 1,772 296.6 -46.6 191 162.5 163.63 1.13 1.33

 

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KR-08-1453 6,826,908 646,015 1,772 295.9 -65.3 170 84.43 100.19 15.76 1.46

 

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KR-08-1454 6,826,946 646,003 1,771 320.8 -43.7 183 12.41 14.46 2.05 5.6

 

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and 73.23 75.8 2.57 1.1

 

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KR-08-1457 6,826,898 646,007 1,771 321.5 -44.8 118 No significant intercept

 

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Shamrock – QB Zone

 

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KR-08-1407 6,826,264 646,289 1,398 55 -63 138 No significant intercept

 

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*KR-08-1292 646,126 6,826,401 1,499 45 -85 97 66.14 66.68 0.54 5.39

 

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*KR-08- 1295 646,229 6,826,363 1,452 71 -86 124 73.62 76.1 2.48 2.13

 

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Shamrock – Gully Zone

 

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*KR-08-1296 645,290 6,826,650 1,745 35 -60 106 56.11 59.9 3.79 12.2

 

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Mantos – Break Zone

 

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KR-08- 1393 6,825,660 645,703 1,515 193 -84 148 No significant intercept

 

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KR-08- 1399 6,825,695 645,776 1,490 180 -56 292 92.25 94.09 1.84 4.63

 

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Mantos – Hoodoo Zone

 

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KR-08- 1450 6,825,857 644,352 1,848 203 -66 164 79.98 80.71 0.73 1.10

 

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KR-08- 1452 6,825,856 644,352 1,848 202 -46 179 67.20 72.24 5.04 2.04

 

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KR-08- 1455 6,825,857 644,353 1,848 213 -85 191 57.00 66.14 9.14 32.98

 

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including 57.00 60.05 3.05 84.50

 

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KR-08- 1456 6,825,856 644,350 1,848 20 -77 170 No significant intercept

 

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KR-08- 1458 6,825,857 644,351 1,848 20 -58 185 No significant intercept

 

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KR-08- 1460 6,825,859 644,311 1,841 251 -86 164 39.81 41.30 1.49 1.98

 

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and 70.19 71.49 1.30 24.90

 

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KR-08- 1462 6,825,855 644,307 1,841 14 -76 108 No significant intercept

 

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KR-08- 1463 6,825,855 644,307 1,841 17 -61 41 No significant intercept

 

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KR-08- 1464 6,825,855 644,307 1,841 15 -68 170 38.71 41.76 3.05 1.66

 

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KR-08- 1466 6,825,867 644,277 1,835 200 -85 39 16.32 17.37 1.05 3.20

 

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Mantos – Calcite (Lab) Zone

 

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*KR-08- 1282 644,546 6,825,264 1,568 92 -80 97 9.63 13.42 3.79 9.63

 

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Mantos – Tarn Zone

 

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KR-08- 1346 6,824,702 643,560 1,615 86 -85 133 No significant intercept

 

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KR-08- 1348 6,824,715 643,538 1,616 106 -86 69 No significant intercept

 

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KR-08- 1350 6,824,715 643,522 1,616 96 -87 148 5.75 8.35 2.6 2.31

 

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KR-08- 1352 6,824,639 643,494 1,631 101 -85 158 No significant intercept

 

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KR-08- 1354 6,824,639 643,495 1,631 92 -60 118 14.33 20.42 6.09 6.76

 

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KR-08- 1380 6,824,640 643,495 1,631 49 -45 124 29.57 31.10 1.53 1.30

 

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KR-08- 1381 6,824,640 643,495 1,631 43 -58 121 27.42 29.57 2.15 3.61

 

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KR-08- 1383 6,824,706 643,487 1,626 84 -85 136 No significant intercept

 

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KR-08- 1385 6,824,706 643,488 1,626 84 -59 142 No significant intercept

 

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KR-08- 1386 6,824,706 643,489 1,626 84 -44 136 No significant intercept

 

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Mantos – Peel Zone

 

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*KR-08- 1285 645,701 6,825,517 1,446 47 -83 149 58.52 60.05 1.53 2.92

 

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75.21 75.9 0.69 4.35

 

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Note: (1) Width is not necessarily indicative of true width

 

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(2) All gold assay composite results are uncut

 

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* Holes drilled for metallurgical samples

 

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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.

 

If you would like to receive press releases via email please contact nicole@yngc.ca and specify “Yukon-Nevada Gold Corp. releases” in the subject line.

 

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.

 

SOURCE Yukon-Nevada Gold Corp.

 

Copyright (C) 2010 PR Newswire. All rights reserved

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