Mr. Richard Moritz reports
THE CONNECTOR TARGET AT KETZA RIVER PROVES TO BE A HIT
Yukon-Nevada Gold Corp. has provided favourable results from its continuing 2010 drilling program at Ketza River. The Ketza River property is wholly owned by Yukon-Nevada Gold and it is a past gold producer located near the town of Ross River in the Yukon Territory, Canada.
The recently received assays are from the Connector and Vertical vein targets both located in the Shamrock zone. All drill holes referenced in this press release are diamond drill holes completed from one drill rig from April to May, 2010, for which assays were recently received.
Connector target
The Connector target is a combination magnetic, gravity and gold-in-soil anomaly, lying upslope from the Gully resource in the Shamrock zone. This target trends nearly east-west and lies at a high angle to the well-defined Gully (vein) resource. Most of the drill holes intersected moderate amounts of quartz veins containing pyrrhotite, arsenopyrite, pyrite and chalcopyrite. The attached table shows the significant assay results from the Connector target. The best intercepts from this target area include: drill hole No. KR-10-1491 that intercepted 0.28 metre averaging 25.30 grams per tonne (g/t) Au from 91.19 to 91.47 m, and KR-10-1493 that intercepted 11.10 g/t Au over 0.49 m from 97.31 to 97.80 m.
In addition to the recently received intercepts of the Connector target, one drill hole No. KR-10-1488 intersected mineralization both within the Connector target and the Gully vein. The mineralization within the Gully vein in this drill hole assayed 2.38 g/t Au over 13.78 metres from 115.16 to 128.94 metres.
SUMMARY OF SIGNIFICANT ASSAY RESULTS FROM THE CONNECTOR TARGET
Drill hole No. From (m) To (m) Thickness (m)* Grade (g/t)
KR-10-1485 80.55 81.88 1.33 2.08
KR-10-1488 14.33 14.60 0.27 2.19
111.75 112.20 0.45 1.47
115.16 128.94 13.78 (Gully vein) 2.38
137.91 139.72 1.81 1.60
146.08 146.52 0.44 7.97
152.64 153.07 0.43 2.96
KR-10-1491 91.19 91.47 0.28 25.30
KR-10-1492 6.10 8.23 2.13 1.42
183.32 185.07 1.75 3.70
193.87 195.70 1.83 1.68
196.58 201.35 4.77 2.71
200.36 201.35 0.99 9.57
KR-10-1493 97.31 97.80 0.49 11.10
101.69 102.29 0.60 7.20
KR-10-1494 20.82 21.29 0.47 1.57
140.06 140.54 0.48 7.11
* Note: true thickness values are not known.
Drill holes KR-10-1486, KR-10-1487, KR-10-1489 and KR-10-1490 returned no
significant intersections.
Vertical vein target
The Vertical vein target consists of a northerly trending magnetic high located west of the Gully resource in the Shamrock zone. In 2007, drill holes KR-07-1202, KR-07-1206 and KR-10-1209 intersected strong gold mineralization at the south end of the target. Seven drill holes were recently completed higher up on target area that tested the extent of the magnetic-high anomaly. The attached table shows the significant assay results from the Vertical vein target. The best intercept from this target is from drill hole KR-10-1482 that assayed 5.01 g/t Au over 0.28 m from 140.01 to 140.29 m.
SUMMARY OF SIGNIFICANT ASSAY RESULTS FROM THE VERTICAL VEIN TARGET
Drill hole No. From (m) To (m) Thickness (m)* Grade (g/t)
KR-10-1480 44.98 45.56 0.58 1.12
KR-10-1482 140.01 140.29 0.28 5.01
KR-10-1484 88.40 88.95 0.55 1.58
* Note: true thickness values are not known.
Drill holes KR-10-1481, KR-10-1483, KR-10-1495 and KR-10-1496 returned
no significant intersections.
All of the recently completed assays were analyzed by the ALS Laboratory Group in North Vancouver, Canada. The recently received drill hole assays from the Connector and Vertical vein targets were not included in the data used for the NI 43-101 resource estimate released on April 14, 2008. This NI 43-101 report can be downloaded from the YNG website.
This news release was reviewed and approved by Ed Gates (MSc, PGeo), chief geologist for the Ketza River project, and Todd Johnson (MSc), vice-president of exploration for Yukon-Nevada Gold. Mr. Gates is the qualified person for the purpose of this press release.
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