Increase In Grade Of Resource At Ketza River
VANCOUVER - Yukon-Nevada Gold Corp. reported that it has completed an updated resource estimate for its 100% owned Ketza River property in the Yukon Territory, which significantly increases the grade of its previously reported resource. The currently estimated resource at Ketza River, as of year-end 2007, consists of a measured and indicated resource of 646,400 ounces at a grade of 4.93 grams of gold per tonne (gpt), comprised of a measured resource of 146,500 ounces at a grade of 6.40 gpt and an indicated resource of 499,900 at a grade of 4.61 gpt. There is an additional inferred resource of 112,800 ounces at a grade of 3.26 gpt.
Yukon-Nevada Gold's President and Chief Executive Officer, Graham C. Dickson, commented, "We are pleased to see this significant increase in the average grade of the resource and to note that the great majority of the resource (90.5%) will be mined by open pit. This is an important step in the transition of Ketza River from an exploration camp to a gold producer and a testimonial to the hard work and dedication of the exploration staff who have worked at this site twenty four hours a day for the last thirty three months".
Ketza River is currently transitioning from an exploration project to feasibility and, therefore, the current resource estimate has focused on establishing higher grade resource shapes that can form the basis for eventual mineable reserves. As a result, mineralization that is not deemed to have a reasonable expectation of being eventually mineable has been excluded from the current resource. A cut-off grade of 1.0 gpt has been used for shapes that are believed to be amenable to eventual open-pit mining while a cut-off of 3.0 gpt has been applied to resource shapes that would have to be mined from underground. In addition, most gold mineralization has been tightly constrained geologically using structural and stratigraphic features established by mining records and 3-dimensional geologic analysis; the nature of these geologic constraints, has to a great extent, been the result of work carried out on the property during the last year.
Compared to the last reported resource estimates for Ketza River (2004, 2005), the current measured and indicated resource estimate represents a decrease of about 110,000 ounces of gold from a previously estimated 756,700 ounces but, more significantly, at a much higher grade (4.93 gpt compared to the previous 2.76 gpt). The measured component of the resource is currently at 6.40 gpt compared to a previous 3.54 gpt.
Estimated inferred resources have declined from a previously reported 1,054,400 ounces at 2.25 gpt to the currently estimated 112,800 ounces at 3.26 gpt. The Company believes that this decrease in inferred resource reflects new drilling and stricter constraints placed on the estimation and not a decrease in exploration potential of the over-all property. Numerous encouraging exploration targets remain untested throughout the project area, including several which would represent stepouts or extension from currently identified resource.
The company's address is 490-688 West Hastings Street, Vancouver, BC V6B 1P1, 604.688.9427, fax: 604.688.9426, email: [email protected].
VANCOUVER - Yukon-Nevada Gold Corp. reported that it has completed an updated resource estimate for its 100% owned Ketza River property in the Yukon Territory, which significantly increases the grade of its previously reported resource. The currently estimated resource at Ketza River, as of year-end 2007, consists of a measured and indicated resource of 646,400 ounces at a grade of 4.93 grams of gold per tonne (gpt), comprised of a measured resource of 146,500 ounces at a grade of 6.40 gpt and an indicated resource of 499,900 at a grade of 4.61 gpt. There is an additional inferred resource of 112,800 ounces at a grade of 3.26 gpt.
Yukon-Nevada Gold's President and Chief Executive Officer, Graham C. Dickson, commented, "We are pleased to see this significant increase in the average grade of the resource and to note that the great majority of the resource (90.5%) will be mined by open pit. This is an important step in the transition of Ketza River from an exploration camp to a gold producer and a testimonial to the hard work and dedication of the exploration staff who have worked at this site twenty four hours a day for the last thirty three months".
Ketza River is currently transitioning from an exploration project to feasibility and, therefore, the current resource estimate has focused on establishing higher grade resource shapes that can form the basis for eventual mineable reserves. As a result, mineralization that is not deemed to have a reasonable expectation of being eventually mineable has been excluded from the current resource. A cut-off grade of 1.0 gpt has been used for shapes that are believed to be amenable to eventual open-pit mining while a cut-off of 3.0 gpt has been applied to resource shapes that would have to be mined from underground. In addition, most gold mineralization has been tightly constrained geologically using structural and stratigraphic features established by mining records and 3-dimensional geologic analysis; the nature of these geologic constraints, has to a great extent, been the result of work carried out on the property during the last year.
Compared to the last reported resource estimates for Ketza River (2004, 2005), the current measured and indicated resource estimate represents a decrease of about 110,000 ounces of gold from a previously estimated 756,700 ounces but, more significantly, at a much higher grade (4.93 gpt compared to the previous 2.76 gpt). The measured component of the resource is currently at 6.40 gpt compared to a previous 3.54 gpt.
Estimated inferred resources have declined from a previously reported 1,054,400 ounces at 2.25 gpt to the currently estimated 112,800 ounces at 3.26 gpt. The Company believes that this decrease in inferred resource reflects new drilling and stricter constraints placed on the estimation and not a decrease in exploration potential of the over-all property. Numerous encouraging exploration targets remain untested throughout the project area, including several which would represent stepouts or extension from currently identified resource.
The company's address is 490-688 West Hastings Street, Vancouver, BC V6B 1P1, 604.688.9427, fax: 604.688.9426, email: [email protected].