Wednesday, 30th April 2008 (326 views)

Underground drilling at the Smith mine in Jerritt Canyon, Nevada has intercepted high-grade gold mineralisation that continues to expand the property's resources, it has been announced.

The company developing the site, Yukon-Nevada Gold, said a total of 41 core and reverse-circulation drill holes have been completed at the site since it issued its last resource estimate.

Drilling in two zones - Mahala and West Dash - has intercepted high-grade gold deposits, it added.

Key assays include gold grades of 19.47 g/t gold over an interval of 21.3 metres, 17.11 g/t gold over 4.6 metres and 15.33 g/t gold over 6.1 metres.

Other samples were graded at 14.09 g/t gold over 4.6 metres, 8.98 g/t gold over 10.8 metres and 11.18 g/t gold over 6.4 metres.

The company said both of the zones will be subject to ongoing "aggressive exploration" in a bid to define further mineralisation.

Yukon-Nevada president and chief executive Graham Dickson said the results confirmed that the company's mines could sustain increased output "at a higher grade" than previous mining.

Gold was first discovered in Jerritt Canyon in the early 1970s. Since then, some eight million ounces of gold have been recovered from the area.

 

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