Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yukon-Nevada Gold Co (YNG)
0.26 ? -0.01 (-3.70%)
Volume: 1,447,000 @ 3:55:46 PM ET
Bid Ask Day's Range
0.255 0.265 0.255 - 0.27
TSE:YNG Detailed Quote Wiki
Yukon-Nevada Gold Corp. Reviews Progress at Jerritt Canyon, Nevada
VANCOUVER, Dec. 30, 2011 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG.TO; OTC:YNGFF - News) (Frankfurt Xetra Exchange: NG6) (the "Company") presents an overview of the work completed at Jerritt Canyon since the facility reopened in 2009. Jerritt Canyon is located 50 miles north of Elko, Nevada and is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of the Company. This review covers the areas of:
•Environmental Compliance
•New Tailings Facility Construction
•Plant Upgrades
•Plant Winterization
•Fleet Renewal
•Underground Mine Re-start
•Open Pit Re-start
•Exploration
•Safety
Environmental compliance was achieved by the issuance of a Consent Decree in the fall of 2009 allowing the Company to restart its milling operation. Since re-starting the plant in October 2009 the roasters have successfully been subject to independent engineer stack testing for emission compliance for mercury, particulates, sulfur dioxide and other emissions. The results of these tests have allowed the frequency of the testing to be reduced by a factor of three. Other items in the Consent Decree are also substantially complete, with two key projects, the replacement of the second quench tank and the installation of the new ore dryer circuit, set to be finished in the shutdown commencing early January. The remaining project to complete is the clean-up of the rock drainage areas on the property, which will be performed over the coming year in compliance with the requirements of the Consent Decree.
A new tailings storage facility ("TSF") was approved for construction in July 2011. This facility, which is double lined, is mostly completed and waits commissioning in 2012. The old TSF, which has more than sufficient life to last until the new facility is operating, will be closed and reclaimed using the bonded monies already in place.
Plant upgrades including a new digital control system will and are allowing for better and more continuous operation of the plant. This has been enhanced by restocking of the parts warehouse. As stated in our October 31st news release, plant winterization has been delayed by fabrication difficulties, but is now on track for completion before the end of January.
In parallel, the Company re-started the Smith underground mine and engaged Small Mine Development, LLC ("SMD") to operate the mine in February 2010. SMD have been achieving a steady 1,000 tons per day delivery to the run of mine stockpile. In October 2011 the Company re-started the SSX underground mine which is scheduled to ramp up to 1,200 tons per day from the current level of 300 tons per day, as more equipment becomes available and additional resources are put in place. The Company has also obtained permitting to develop the Starvation Canyon underground mine which is scheduled to be ready in H2 2012 as infrastructure is put in place and equipment delivered. Starvation Canyon will be capable of delivering up to 600 tons of ore per day. This will complete the underground mine development program producing a targeted 2,800 tons per day of ore to the mill.
The Company is also focused on the recommencement of open pit mining at the property which was shut down in the late 1990's period due to the prevailing price of gold. Permit approvals to re-open previously operated pits as well as new pits are being sought. This would address the ability of the milling facility to operate at tonnages greater than those able to be supplied by the underground mines.
Upon completion of the shutdown in mid-January, the plant is scheduled to re-start at a through put rate of 150,000 ounces per year and ramp up from there. Jerritt Canyon has averaged 300,000 ounces of gold a year historically from 1987 until early 2003 when it went into decline due to insufficient working capital for investing in sustaining operations, preventative maintenance and necessary environmental compliance.
President and CEO, Robert Baldock states, "There is every reason for the facility to operate at similar production levels in the future and that is certainly management's goal. As an indication of the confidence the senior management team (CEO, CFO, COO and Senior Executive VP) has in the future of the Company they have recently commenced buying stock."
Underground exploration was initiated soon after the Smith Mine was reopened, exploration on the surface was reinitiated in the summer of 2011 and is planned to continue for the foreseeable future. Extension of the present underground mines, re-opening of previously operated open pits and targeting of new open pits are part of the extensive exploration program. The Company is currently reviewing the results of drilling activity in 2011 and will provide additional updates on these results when the review is complete.
Yukon-Nevada is committed to the safety of its workforce and will take all measures to ensure the continued safe and productive operations at Jerritt Canyon. To that end a recent meeting between management and Mine Safety and Health Administration has made it clear recent changes combined with a good inspection in February will make a significant difference to the way the Company is viewed by the regulators as referenced in our most recent press release dated December 2nd, 2011.
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 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.
Website: http://www.yukon-nevadagold.com
Contacts:
Yukon-Nevada Gold Corp.
Richard Moritz
Senior Director
Institutional Investor Relations
Tel: (604) 688-9427
Email: rmoritz@yngc.ca
Nicole Sanches
Investor Relations Manager
Tel: (604) 688-9427 ext. 224
Email: nicole@yngc.ca
http://finance.yahoo.com/news/Yukon-Nevada-Gold-Corp-cnw-2809992465.html?x=0
Yukon-Nevada Gold Co (YNG)
0.335 ? -0.005 (-1.47%)
Volume: 132,000 @ 4:00:01 PM ET
Bid Ask Day's Range
0.335 0.34 0.325 - 0.34
TSE:YNG Detailed Quote Wiki
Yukon-Nevada Gold Corp. Winterization and Production Update for Jerritt Canyon, Nevada
Monday October 31, 2011, 6:30 am EDT
VANCOUVER , Oct. 31, 2011 /CNW/ - Yukon-Nevada Gold Corp. (TSX:YNG.TO; OTC: YNGFF) ( Frankfurt Xetra Exchange: NG6) is pleased to announce a production update for the third quarter and progress on the winterization of the milling facility at Jerritt Canyon located 50 miles north of Elko, Nevada. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").
The Jerritt Canyon operation shipped 21,345 ounces of gold in Q3, comprised of 6,865 ounces in July, 7,195 ounces in August and 7,285 ounces in September.
Winterization and improvements of the milling facility at Jerritt Canyon are well underway and include installation of a new ore dryer, rebuilding the crushing circuit, construction of housing for the ore dryer, fine-crushing circuit conveyor reconfiguration, change-out of the Merrill-Crowe precipitation circuit with an electrowinning circuit, replacement of a quench tank, and improvements to the oxygen plant.
It is anticipated that all winterization and improvement projects will be completed by mid-December. Manufacturing of the new ore dryer encountered some delays, but shipping from the manufacturer started on October 25, 2011 and will be at site by mid-November 2011 and fully installed by mid-December, 2011. The fine crushing circuit is being rebuilt and will be fully enclosed from weather and fully operable by mid-December. The operation has continued to produce gold through the current construction by implementing work-arounds to the refurbishment activities. A shutdown period of around 10 days will be required, likely starting in late November.
Work on the new tailings storage facility ("TSF") is also progressing on schedule and on budget. In July 2011 the Company received regulatory approval to break ground and start construction of the new TSF. This new TSF will be state of art using two double lined impoundments: one for tailings solids and one into which tailings water will be decanted. This separation during operations is intended to provide greater stability to the tailings and reduce the time and costs for the ultimate closure and reclamation of the facilities. The TSF is also expandable and will be able to serve Jerritt Canyon many years into the future.
Earthworks on TSF water storage reservoirs are complete and installation of the double lining, piping and pumping systems is in progress. Installation of the double lining on the first water storage reservoir will be complete by the end of the October and work continues on double lining the second water storage reservoir. Earthworks on TSF are 95% complete and will be completed by the end of the month. Installation of the double lining, piping and pumping systems will be completed by August 2012 allowing use any time after when the first TSF reaches maximum capacity.
Chief Operating Officer, Randy Reichert states, "We are in a good position to ramp up production at the milling facility now that mining has begun at the SSX-Steer underground mine and once the refurbishments are completed at the mill. We are confident that everything should be running smoothly going forward into the winter months at Jerritt Canyon. Our team worked long and hard to have everything finished before the winter sets in. With many years of experience developing and operating mines in arctic environments, I am confident that all refurbishment projects will be completed as planned even if winter sets in early."
Please click here to view the latest photos from the construction of the TSF, ore dryer housing and underground equipment delivery:
http://www.yukon-nevadagold.com/s/JerrittCanyon.asp?ReportID=484780&_Type=Jerritt-Canyon&_Title=Project-gallery
This news release was reviewed and approved by the Company's COO, Randy Reichert , M.Sc. P.Eng., the Qualified Person under NI 43-101 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 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.
http://finance.yahoo.com/news/Yukon-Nevada-Gold-Corp-cnw-649434177.html?x=0&.v=1
Yukon-Nevada Gold Corp. Starts Mining at SSX-Steer Mine Complex
Monday October 3, 2011, 6:30 am EDT
VANCOUVER , Oct. 3, 2011 /CNW/ - Yukon-Nevada Gold Corp. (Toronto:YNG.TO; OTC:YNGFF) ( Frankfurt Xetra Exchange: NG6) is pleased to announce that mining has restarted at the SSX-Steer mine complex ("SSX") which is part of the Jerritt Canyon Operations located 50 miles north of Elko, Nevada. SSX is a complex of two underground mines and was placed on care and maintenance in August 2008. SSX has Proven and Probable Reserves totaling 1,215,400 tons averaging 0.189 opt Au containing 229,200 ounces of gold. SSX will restart at an average of 300 tons per day and will ramp up to 800 tons per day by the end of 2011 as additional equipment is delivered to site. Ramp up to the ultimate production target of 1,200 tons per day will be complete by the end of Q1 2012. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").
Table 1. SSX Underground Reserves - January 1, 2011
| | Proven | Probable | Proven + Probable |
|_______|______________________|______________________|________________________|
|Au |Ktons|Au |Contained|Ktons|Au |Contained|KTons |Au |Contained|
|Grade | |Grade | Au (oz) | |Grade | Au (oz) | |Grade | Au (oz) |
|Cutoff | |(opt) | | |(opt) | | |(opt) | |
|(opt) | | | | | | | | | |
|_______|_____|______|_________|_____|______|_________|_______|______|_________|
| 0.125 |548.3|0.188 | 103,100 |667.1|0.189 | 126,100 |1,215.4|0.189 | 229,200 |
|_______|_____|______|_________|_____|______|_________|_______|______|_________|
| | Measured | Indicated | Measured + Indicated |
|______|_______________________|_______________________|_______________________|
|Au |Ktons |Au |Contained| Ktons|Au |Contained|KTons |Au |Contained|
|Grade | |Grade| Au (oz) | |Grade| Au (oz) | |Grade| Au (oz) |
|Cutoff| |(opt)| | |(opt)| | |(opt)| |
|(opt) | | | | | | | | | |
|______|_______|_____|_________|_______|_____|_________|_______|_____|_________|
|0.125 |2,358.5|0.226| 533,400|1,653.9|0.221| 365,800 |4,012.4|0.224| 899,200 |
|______|_______|_____|_________|_______|_____|_________|_______|_____|_________|
Yukon-Nevada Gold Corp. Submits Assessment Application for Ketza River, Yukon
Monday September 26, 2011, 6:30 am EDT
VANCOUVER , Sept. 26, 2011 /CNW/ - Yukon-Nevada Gold Corp. (Toronto:YNG.TO; OTC:YNGFF) ( Frankfurt Xetra Exchange: NG6) (the "Company" or "YNG") is pleased to announce that on behalf of its wholly owned subsidiary, Ketza River Holdings Ltd., it has submitted its Yukon Environmental and Socio-economic Assessment Application ("YESAA") for the Ketza River Project to the Executive Committee of the Yukon Environmental and Socio-Economic Assessment Board ("YESAB"). The Ketza River Project is located 42km off of kilometer 323 of the Robert Campbell Highway near Ross River , Yukon Territory.
An assessment by YESAB is the critical first step in gaining the necessary approvals in order to bring the Ketza River Mine back into production. The board will assess the environmental and socio-economic effects of project activities and give consideration to scientific information, traditional knowledge and other local knowledge in its assessment. The timeline for review is a minimum of one year from the date of submission.
The Ketza River Project is in the same location as the historic Ketza River Mine, which produced 98,000 oz of gold and by-product silver between 1988 and 1990. The current gold Resource includes: 29,000 oz Measured in 167,800 tonnes grading 5.38 gpt and 388,700 oz Indicated in 2,212,300 tonnes grading 5.46 gpt. A further 67,300 oz in 453,700 tonnes grading 4.62 gpt is present in the Inferred category. The most recent Technical Report can be found in its entirety on the Company website here: http://www.yukon-nevadagold.com/s/KetzaManto.asp?ReportID=296836
The planned mine includes nine open pits and two underground declines with 83% of the ounces to be mined from open pits.
A total of 41% of the measured and indicated recoverable resource ounces are hosted in oxide ores which have a gold recovery of 90%. The remaining 59% of the measured and indicated recoverable resource ounces are hosted in sulfide or mixed sulfide+oxide ores that generally have gold recoveries of 70%.
YESAA baseline studies for the Ketza River Project began in 2008. Concurrently, geotechnical and hydrogeology drilling programs were initiated, metallurgy drilling and testing programs developed and upper tailings site identified and drilled. During 2009 and 2010, YNG conducted geophysical surveys, soil surveys, exploration drilling, additional geotechnical and hydrogeology drilling in the proposed resource areas, and geotechnical characterization of the lower tailings site.
Current work at Ketza includes the following activities:
* 2011 drill program including >6,100m of drilling
* Installation of a replacement camp (completed August 2011 )
* Drilling of a new water well for use at the camp and the new mine facilities
* Community and First Nations consultation meetings
* Obtaining a type A water license for the existing tailings
facility.
The Ketza River Project is located within the Traditional Territories of the Ross River Dena Council ("RRDC"), Liard First Nation ("LFN"), and Teslin Tlingit Council ("TTC"). Negotiations have already begun to renew the Memorandum of Understanding between Ketza River Holding and RRDC and to create a Social Economic Partnership Agreement. Similar negotiations and agreements will be pursued with the Tlingit and Liard groups. When the Ketza River mine site is reopened, opportunities for the Kaska and Tlingit people will include both employment and service contracts, in addition to job training.
This news release was reviewed and approved by the Company's Vice President of Exploration, Todd Johnson , M.Sc., the Qualified Person under NI 43-101 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 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.
Website: http://www.yukon-nevadagold.com
Image with caption: "Yukon-Nevada Gold Corp. Submits Assessment Application for Ketza River, Yukon (CNW Group/Yukon-Nevada Gold Corp.)". Image available at: http://photos.newswire.ca/images/download/20110926_C6433_PHOTO_EN_3788.jpg
http://finance.yahoo.com/news/Yukon-Nevada-Gold-Corp-cnw-1618668174.html?x=0&.v=1
Yukon-Nevada Gold Co (YNG)
0.435 ? 0.005 (1.16%)
Volume: 230,000 @ 3:59:59 PM ET
Bid Ask Day's Range
0.43 0.435 0.415 - 0.45
TSE:YNG Detailed Quote
Yukon-Nevada Gold Corp. Plans to Enter Into A Prepaid Forward Gold Purchase Agreement
Wednesday August 3, 2011, 6:30 am EDT
VANCOUVER, Aug. 3, 2011 /CNW/ - Yukon-Nevada Gold Corp. (Toronto:YNG.TO; OTC:YNGFF) (Frankfurt Xetra Exchange: NG6) (the "Company") is pleased to announce that it is currently negotiating a Forward Gold Purchase Agreement (the "Agreement") with Deutsche Bank AG, London Branch ("Deutsche Bank"), a leading global provider of financial solutions. Subject to satisfaction of all closing conditions and internal approval requirements (including Deutsche Bank's credit committee), Deutsche Bank will fund a US$120 million prepaid gold forward facility (the "Gold Facility") to Queenstake Resources USA, Inc. ("Queenstake"), a subsidiary of the Company.
The facility is a forward contract currently structured to deliver 173,880 ounces of gold over a 48 month term (the "Transaction"). The schedule of gold payments is set forth as follows: during the first six (6) months of the term, 1,000 ounces per month; for the next six (6) months of the term, 2,000 ounces per month; for the final 36 months of the term, 4,330 ounces per month. The 173,880 ounces of gold that have been committed under this gold facility represent approximately 5.1% of the total gold resources at Queenstake's wholly-owned Jerritt Canyon property in Nevada, USA. Subsequent to the receipt of the US$120 million prepayment the remainder of the purchase price for the gold will be paid to Queenstake upon completion of the monthly gold deliveries to Deutsche Bank and will be equal to the amount that the gold price exceeds US$850 and up to a maximum gold price of US$1,700.
Certain components within the Agreement, such as gold pricing valuations, will be finalized at the time of prepayment, which is anticipated to occur around August 12, 2011. As such, a subsequent news release regarding the Agreement will be issued upon the date of prepayment with the minimum and maximum gold prices per ounce expressed. There is no interest payable to the Deutsche Bank during the term of the facility.
Robert Baldock, President and CEO, states, "We are very pleased to be entering into this gold forward facility with Deutsche Bank, one of the world's most reputable leaders in the global commodities market. This gold loan facility will address all of our capital needs for the Jerritt Canyon winterization and other announced cap-ex programs which will enable us to achieve our production targets, increase profitability and create lasting value for our shareholders."
The repayment of the Gold Facility will be guaranteed by the Company and various subsidiaries and will involve the registration of various charges against the Company's assets in favour of Deutsche Bank. To enable the grant of the requisite security, approximately $26 million of the proceeds of the Loan will be used to repay the senior secured notes issued to note holders led by Sprott Asset Management LP in August 2010. The remainder of the proceeds are to be used for the capital expenditures at the Jerritt Canyon property, including the winterization of the processing facility, construction of the tailings storage facility and development of the existing underground and open pit mines in addition to further improvements to the gold production processes to enhance throughput at the mill.
As Deutsche Bank currently holds securities representing more than 10% of the Company's issued and outstanding voting securities (making it an insider of the Company within the meaning of TSX policies and applicable securities regulations) and as the value of the Transaction is greater than 10% of the Company's market capitalization (assuming a current market capitalization of approximately CDN$423 million based on a share price of CDN$0.455), disinterested shareholder approval of the Transaction is required pursuant to Section 501(c) of the TSX's Company Manual. The Company expects to obtain the requisite shareholder approval by means of written consents from holders of more than 50% of the Company's voting securities (excluding those held by Deutsche Bank) pursuant to Section 604(d) of the TSX Company Manual.
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 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.
http://finance.yahoo.com/news/Yukon-Nevada-Gold-Corp-Plans-cnw-2309193827.html?x=0&.v=1
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Negative Outlook on Uncle Sam
Said Moody's: "Our negative view on
The debt deal you voted anew on
Ponders revenue ruts
Caused in part by the cuts
Which we anyway doubt you'll come through on."
- David Lefkovits AKA Dr. Goose
@ www.limericksecon.com/
mr. besuchet is not paticipating in a stock unless he can short it. he walked out on the only revenue producing stock in his life, because it was a revenue producing one... he's 78 years old, as it appears he does not fear persecution, he's providing "financing" in numerous pink sheet stocks. i woulda been fine with it if i can also short those fluff stocks without revenue. google deepcatpure pierre besuchet
Thanks for posting buddy.
here's a good idea how yng, yngff work. no wonder there's never a profit
http://investing.businessweek.com/businessweek/research/stocks/people/relationship.asp?personId=3221888&ticker=WTWO:US&previousCapId=876564&previousTitle=GABRIEL%20RESOURCES%20LTD
robert baldock also has 2 more companies, momentum mining and heartlink Canada 1999 inc. from biotech to mining?!
i feel sorry for the heavyweights who have invested in those crooks
http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=3078818&ticker=YNG:CN&previousCapId=22236234&previousTitle=MONUMENT%20MINING%20LTD
and the person who caught my attention was pierre besuchet...
Posted: Saturday, February 19, 2011 2:52 pm | (0) Comments
Font Size:Default font sizeLarger font size
.ELKO - The U.S. Mine Safety and Health Administration this week announced results of January impact inspections, and the Jerritt Canyon Mine north of Elko was on the list.
MSHA reported that beginning on Jan. 19, agency inspectors conducted an impact inspection at the Jerritt Canyon mill, and they issued 24 citations and seven orders.
Yukon-Nevada's investment relations manager, Nicole Sanches, said the company didn't have any comment on the MSHA citations.
The agency stated two of the orders were issued in conjunction with an imminent danger order. One was issued over the operator's failure to examine each working place at least once per shift for conditions that may adversely affect safety or health. A second order was issued for operating equipment that posed hazards to miners.
MSHA also issued an order for the assay lab in which inspectors detected a strong, irritating odor and white mist/vapors coming off a heated tray inside a ventilation hood.
The agency reported the inspector took an immediate sample, indicating that nitric acid potential exposure was above the established short-term exposure limit.
The health risks from overexposure include severe lung damage, such as pulmonary edema, according to MSHA.
The agency stated in the announcement that it began the impact inspections last April after the explosion at the Upper Big Branch coal mine in West Virginia that killed 29 miners to focus on mines that may merit extra attention.
yngff looks to me like a housing development outside Cairo Egypt in the Giza subdivision. if all the heavyweights like Dtsche bnk, Vangrd..., knowlingly participate in it, that's very bad. if they unknowlingly participate in it, just for the heck of it, then it's bad reputation, and they must know better... i have an actual question for those heavyweights, have You actually seen the gold production of yukon-nevada gold corp. from start to finish?
there are 3 things that bother me here
1. the 2010 annual report says, that gold sales were $71,370,000.00. according to my calculations the sale of equity and warrants for 2010 totaled approximately $71,700,000.00. so for 2010 yngff netted $143,000,000.00, and still has a going concern label...
2. the presence of pierre besuchet in the board of directors of yngff
3. number of outstanding shares for 2010, 2009 and 2008 respectively: 646,540,724 338,967,089 185,124,008
You should do your own DD and not take action based on my comments!!!!!!
Yukon-Nevada Gold Corp. Reports on Reserves at Jerritt Canyon, Nevada
--------------------------------------------------------------------------------
Vancouver, BC -- June 28, 2011 -- Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) (the "Company") announces that proven and probable reserves at its 100% owned Jerritt Canyon operating gold mine in Elko County, Nevada, estimated as of January 1, 2011, is 717,000 ounces of gold at an average grade of 0.164 ounces of gold per ton (opt) or 5.62 grams of gold per tonne (gpt).
These reserves are within a newly estimated measured and indicated resource, of 2.54 million ounces (1.08 million ounces measured at a grade of 0.235 opt Au, and 1.46 million ounces indicated at a grade of 0.206 opt Au), which was previously announced in a press release on May 3, 2011. The attached table summarizes the reserves by area; the map showing the reserve and resource area locations can be seen on the Company's website here: http://www.yukon-nevadagold.com/i/pdf/JCResourceMap2011.pdf
Table 1. Jerritt Canyon Reserves: January 1, 2011
Proven Probable Proven and Probable
Deposit
/Mine K tons oz/st K oz K tons oz/st K oz K tons oz/st K oz
Smith 713.1 0.183 130.6 918.6 0.163 149.4 1,631.7 0.172 279.9
SSX/Steer 548.3 0.188 103.1 667.1 0.189 126.1 1,215.4 0.189 229.2
Saval 19.7 0.229 4.5 149.3 0.207 31.0 169.1 0.210 35.4
Starvation 125.0 0.262 32.8 237.9 0.265 63.0 363.0 0.264 95.8
Wright Window - - - 84.5 0.127 10.7 84.5 0.127 10.7
Sub Total 1,406.1 0.193 270.9 2,057.4 0.185 380.2 3,463.7 0.188 651.0
Stockpiles - - - 902.2 0.073 65.9 902.2 0.073 65.9
Total 1,406.1 0.193 270.9 2,959.7 0.151 446.0 4,365.8 0.164 717.0
Notes:
The January 1, 2011 resources were all calculated using various Au cut off grades depending on the mine area using a Au price of US$1,100 per troy oz.; and the following mining parameters: $32.00 processing cost, $81.00/ton mining cost; 89.0% Au recovery; 10% underground mining dilution at 0 opt Au grade; $6.00/ton G&A; and $4.62/ton ore haulage;
Stockpile resources include remote and mill and were measured on January 1, 2011;
All reserves are underground except for Wright Window which is open pit;
Resources calculated using: additional drill holes completed in 2008-2010, and applicable mining depletions (underground asbuilts completed as of year-end 2010).
Table 1 indicates that proven reserves total 1,406.1ktons tons averaging 0.193 opt totaling 270.9koz of Au whereas probable reserves stand at 2,959.7ktons averaging 0.151 opt Au totaling 446.0koz. These new proven and probable reserves, along with the recently published resources, will be included in the final NI 43-101 technical report update which is expected to be published in late June 2011.
The individual January 1, 2011 reserves have generally increased in tonnage and recovered ounces and decreased in Au grade in comparison to the previous Year-End 2007 NI 43-101 report by SRK (2008) with the exception of Starvation Canyon. The reclassification of the majority of the measured and indicated resources at Starvation Canyon, to an inferred resource in the current work, is the primary reason for the reserve decrease at Starvation Canyon.
The January 1, 2011 reserve was calculated by Mark Odell (P.E.), a consulting Mine Engineer, and Karl Swanson (MAusIMM, SME), Mining Engineer Consultant, under the supervision of Todd Johnson (P.E.), Vice President of Exploration for YNG. These individuals are qualified persons as defined by NI 43-101.
The mineral reserves have been estimated in accordance with the standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in August 2000, as amended, and prescribed by the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Mining at the Jerritt Canyon property is currently active at the Smith Underground mine which is producing approximately 1,000 ore tons per day using Small Mine Development, LLC as the mining contractor. Queenstake Resources USA, Inc., a 100% subsidiary of YNG, is planning to recommence mining at the SSX-Steer underground mine in the third quarter of 2011. New mining equipment including surface and underground haul trucks have already been purchased to help support this new mine plan.
Mr. Todd W. Johnson, Vice President of Exploration for YNG, is YNG's Qualified Person as defined under National Instrument 43-101. He has supervised the preparation of the technical information and has reviewed and approved the contents of this news release. Yukon-Nevada Gold Corp. will file on www.sedar.com a National Instrument 43-101 a compliant technical report entitled "NI 43-101 Technical Report Update, Yukon-Nevada Gold Corp., Jerritt Canyon Property, Elko County, Nevada, USA," dated late June 2011, encompassing the mineral reserves discussed herein, which will include further details with respect to the reserves and resources.
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 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.
For more information please contact:
Yukon-Nevada Gold Corp.
Richard Moritz
Senior Director, Institutional Investor Relations
Tel: (604) 688-9427
Email: rmoritz@yngc.ca
Nicole Sanches
Investor Relations Manager
Tel: (604) 688-9427 ext 224
Email: nicole@yngc.ca
www.yukon-nevadagold.com
CHF Investor Relations
Jeanny So
Director of Operations
Tel: (416) 868-1079 ext. 225
Email: jeanny@chfir.com
www.chfir.com
AXINO AG
Wolfgang Seybold
Chairman
Tel: +49 711 25 35 92 40
Email: wolfgang.seybold@axino.de
www.axino.de/
The Company is a British Columbia company which was incorporated in 2007, and is a reporting issuer in British Columbia, Alberta and Ontario. The Company has prepared technical reports on the Company's material properties. These filings are available for review on the SEDAR website at www.sedar.com
The Company is listed on the Toronto Stock Exchange with the symbol YNG and the Frankfurt exchange with the symbol NG6.
YNG will continue to develop from its existing 100%-owned properties in the Yukon and Nevada.
Presently in the Yukon Territory the Company is focussed on bringing its wholly owned Ketza River property back into production from the Manto Gold Zones and permitting is underway. The Ketza River Property includes the Ketza River mine, which, from 1987 to 1990, produced some 3,110 kg (100,033 troy oz) of gold from 340,000 tons of ore. The Company aims to further explore the highly potential Shamrock Zone and Silver Valley, both in the Yukon.
Jerritt Canyon is located 50 miles from Elko in northern Nevada. The Company is currently focused on modernizing the milling facility and emission control systems. The Company is striving to reach a point of renewed profitability accompanied by a significantly reduced environmental impact. Ongoing permitting at Starvation Canyon, Nevada will allow the Company, in the future, to realize an increase in the production of gold ounces at Jerritt Canyon.
The Company recognizes responsible environmental stewardship as an integral part of our business practices and has recognized environmental management as a corporate priority. We integrate environmental factors into the decision-making process throughout the company. Sufficient resources have and will be devoted to environmental protection and remediation to ensure that environmental risks are minimized and that the environment and public welfare are protected during the Company's activities.
Recently the Company has embarked on a targeted and aggressive media and investor relations program, which we are confident will help fulfill the Company's obligation to improve investor returns by reporting accurate and up-to-date information in a timely manner.
http://www.yukon-nevadagold.com/s/AboutUs.asp
YukonNevada Gold Corp. (TSE:YNG)
http://www.yukon-nevadagold.com/s/Management.asp
Yukon-Nevada Gold Co (YNG)
0.4 ? 0.0 (0.00%)
Volume: 632,000 @ 2:57:13 PM ET
TSE:YNG Detailed Quote
Yukon-Nevada Gold Corp. Reports on Reserves at Jerritt Canyon, Nevada
Tuesday June 28, 2011, 6:30 am EDT
http://finance.yahoo.com/news/Yukon-Nevada-Gold-Corp-cnw-2542541965.html?x=0&.v=1
Yukon-Nevada Gold Corp. Reports a Significant Resource Increase at Jerritt Canyon, Nevada
Tuesday May 3, 2011, 6:30 am EDT
http://finance.yahoo.com/news/Yukon-Nevada-Gold-Corp-cnw-1379915060.html?x=0&.v=1
Yukon-Nevada Gold Corp. Announces Year End Results for 2010
Friday April 1, 2011, 6:30 am EDT
http://finance.yahoo.com/news/Yukon-Nevada-Gold-Corp-cnw-478728085.html?x=0&.v=1
Yukon-Nevada Gold Co (YNG)
0.79 ? 0.03 (3.95%)
Volume: 224,207 @ 4:00:04 PM ET
Bid Ask Day's Range
0.76 0.8 0.76 - 0.8
TSE:YNG Detailed Quote
29.6 meters Averaging 19.61 grams/tonne Au, Including 5.1 meters Averaging 45.60 grams/tonne Au in Drilling at Jerritt Canyon, Nevada
Friday February 25, 2011, 6:30 am
VANCOUVER, Feb. 25 /CNW/ - Yukon-Nevada Gold Corp. (Toronto:YNG.TO) (OTC:YNGFF) (Frankfurt Xetra Exchange: NG6) is pleased to announce additional assay results from its ongoing 2010 and 2011 Smith Mine underground drilling program at its wholly-owned gold production Jerritt Canyon property in Nevada, USA. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").
Significant assay results from multiple separate zones for drill hole numbers SMI-LX-758 and SMI-LX-759 have been received as of February 23, 2011 (see Table 1). These are resource conversion drill holes that were drilled from the same underground drill station in Zone 2 of the mine. This drill program is testing favorable ore controlling structures proximal to the existing underground workings and is also intended to expand and convert existing resources outlined in the most recent NI 43-101 report published in 2008.
Table 1. Significant Assay Results from Drill Holes SMI-LX-758 and SMI-LX-759 in Smith Mine.
Continued at:
http://finance.yahoo.com/news/29-6-meters-Averaging-19-61-cnw-3242335271.html?x=0&.v=1
Yukon-Nevada Gold Co (YNG)
0.8 ? -0.02 (-2.44%)
Volume: 480,581 @ 4:00:02 PM ET
Bid Ask Day's Range
0.79 0.81 0.8 - 0.83
TSE:YNG Detailed Quote
2.15 Meters Averaging 24.45 g/t Au in Drilling at Ketza River, Yukon and Flow Through Private Placement
Tuesday February 22, 2011, 6:30 am EST
http://finance.yahoo.com/news/2-15-Meters-Averaging-24-45-g-cnw-3250485448.html?x=0&.v=1
96 feet (29 m) Averaging 0.472 opt (16 g/t) Au and a further 49 feet (14 m) Averaging 0.767 opt (26 g/t) Au in drilling at Jerritt Canyon, Nevada
Monday February 14, 2011, 6:30 am EST
VANCOUVER, Feb. 14 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC: YNGFF; Frankfurt Xetra Exchange: NG6) is pleased to announce additional assay results from its 2010 Smith Mine underground exploration drilling at its gold producing Jerritt Canyon property in Nevada, USA. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").
Assay results have been received as of January 25, 2011 for the final drill hole number SMI-LX-757 that was completed as part of the 2010 Smith Mine underground drill hole program (see drill hole location plan maps which can be found on our website here: http://www.yukon-nevadagold.com/i/pdf/NR_03_2011_UG_DDH.pdf).
This drill program is continuing in 2011 and testing favorable ore controlling structures proximal to the existing underground workings and is also intended to expand and convert existing resources outlined in the most recent NI 43-101 report published in 2008.
Drill hole SMI-LX-757 is a resource conversion drill hole that was drilled from an underground drill station in Zone 2 of the mine and is located east of drill hole SMI-LX-755 and west of and below hole SMI-LX-756. Assays for these other two drill holes have been previously reported in the press release dated January 24, 2011. Four separate zones from drill hole SMI-LX-757 contain significant assay results (see Table 1):
(click on link at bottom of page to view table)
SMI-LX-757 was drilled in the hanging wall parallel to the strike of the northwest-trending Coulee fault zone. The first mineralized intercept was characterized by intense silicification and quartz vein breccia in the Ordovician-Silurian Hanson Creek Formation (unit 1) adjacent to decalcified, carbonaceous, and sheared Hanson Creek Formation (unit 3). The second mineralized zone consists of decalcified and locally silicified rock from the Hanson Creek Formation (unit 3) with trace realgar. The third relatively narrow intercept is not strongly altered but contains moderate realgar in slightly sheared rock from the Hanson Creek Formation (unit 3). The final mineralized interval is characterized by carbonaceous, decalcified, and argillized rock from the Hanson Creek Formation (unit 3) with some pyrite lenses, disseminated pyrite, and/or locally abundant realgar.
Drill holes SMI-LX-758 and SMI-LX-759 were drilled in January 2011 above and below SMI-LX-757 to test the vertical extent of the mineralization encountered in drill hole SMI-LX-757. Results of these two drill holes are pending. Additional drilling is planned in 2011 from the same Zone 2 drill station to test the lateral extents of the mineralization.
Assays from the underground diamond drill hole reported in this news release were performed by ALS Laboratory Group in Reno, Nevada, using standard fire assay techniques. Intercepts are reported as drilled. True widths have not yet been calculated; given the geometry of mineralization at Jerritt Canyon, the concept of true width is not always meaningful before delineation drilling has been completed. The Company's 2010 and 2011 Quality Assurance and Quality Control protocols are available at the Company's website:
http://www.yukon-nevadagold.com/i/pdf/JC_Assay_Protocols.pdf
The information in this news release was compiled by Laura Symmes, Geologist, at the Jerritt Canyon Mine. This news release was reviewed and approved by the Company's Vice President of Exploration, Todd Johnson, M.Sc., 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 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.
http://finance.yahoo.com/news/96-feet-Averaging-0-472-opt-cnw-1254444206.html?x=0&.v=1
Yukon-Nevada Gold Co (YNG)
0.72 ? 0.0 (0.00%)
Volume: 1,757,608 @ 3:59:57 PM ET
Bid Ask Day's Range
0.72 0.74 0.71 - 0.74
TSE:YNG Detailed Quote
Yukon-Nevada Gold Co (YNG)
0.87 ? -0.01 (-1.14%)
Volume: 325,110 @ 3:59:07 PM ET
Bid Ask Day's Range
0.86 0.88 0.86 - 0.87
Full TSE:YNG Quote
ADDITIONAL AU ASSAY RESULTS FROM THE PEEL AND HOODOO ZONES, KETZA RIVER PROJECT
Monday November 22, 2010, 9:35 am
VANCOUVER, Nov. 22 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) is pleased to announce further excellent results from its ongoing 2010 drilling program at Ketza River. The Ketza River property is wholly owned by Yukon-Nevada Gold Corp., and it is a past gold producer located near the town of Ross River in the Yukon Territory, Canada.
The recently received assay results are mostly from the Hoodoo, Break, and B-Mag Zones at the Ketza River Project, which are manto-style (limestone replacement) resources. Results also came in for one drill hole from the Connector Zone in the Shamrock part of the project, which are mostly veins and stockwork resources. All drill holes referenced in this news release are diamond drill holes completed by one drill rig between May 6, 2010 and July 11, 2010 and for which assays were recently received.
Hoodoo Zone
The Hoodoo Zone oxide mineralization target lies proximal to a major northwest-striking fault zone which controls mineralization in the Lab-Calcite Zone. This current phase of drilling was located near the top of the ridge, in what is planned to be the high wall of the Lab-Hoodoo open pit (see Drill Hole Plan Map Figure which can be found on our website here: http://www.yukon-nevadagold.com/i/pdf/2010HoodooMap.pdf).
Table 1 below lists the 2010 significant drill hole intercepts from the Hoodoo Zone. The highlight of this phase of drilling was drill hole KR-10-1532 which contained two intercepts: 9.14 meters grading 37.37 g/t Au starting from 57.0 and continuing to 66.14 m, and another containing 4.28 meters assaying 2.95 g/t Au from 25.29 to 29.57m. This drill hole was drilled approximately perpendicular to drill hole KR-08-1455, which also intersected similarly strong gold mineralization. In addition, drill hole KR-10-1535 located approximately 20 meters to the west, intercepted 2.30 meters grading 17.60 g/t Au. Cross sections suggest that these intersections are approximately true thickness.
Continued at
http://finance.yahoo.com/news/ADDITIONAL-AU-ASSAY-RESULTS-cnw-977371490.html?x=0&.v=1
YUKON-NEVADA GOLD CORP. SHOWS STRONG THIRD QUARTER RESULTS
Tuesday November 16, 2010, 8:30 am
VANCOUVER, Nov. 16 /CNW/ - Yukon-Nevada Gold Corp. (the "Company") (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) today announced the financial and operating results for the third quarter ended September 30, 2010. This information should be read in conjunction with the Company's quarterly and annual financial statements, notes to the financial statements and Management's Discussion and Analysis. All dollar amounts are expressed in United States Dollars unless otherwise specified.
Highlights for the three-month period ended September 30, 2010 include:
Jerritt Canyon produced 18,636 ounces of gold from stockpiles and mining
operations in the three months ended September 30, 2010, the highest
production amount achieved in a quarter since the third quarter of 2008.
The operations at Jerritt Canyon returned the first positive gross
margin results since 2007, with a $1.4 million gross margin for the
three months ended September 30, 2010. The results were impacted by the
loss of approximately 2,700 gold ounces during the production process
which the Company is working to recover. The Company has identified
specific areas of interest and is using all means possible to
investigate and resolve the matter.
Small Mine Developers ("SMD") delivered 14,641 ounces to the mill from
the Smith mine during that same period, as the mining operations
achieved the targeted 1,000 tons per day. In total SMD has mined 32,660
ounces from the Smith mine and is showing continued performance
improvement.
On August 13, 2010 the Company issued $25.0 million in Senior Secured
Notes (the "Notes") and 25,000,000 common share purchase warrants (the
"Warrants"), raising gross proceeds of $25.0 million. Each Warrant
entitles the holder thereof to purchase one common share of the Company
at a price of C$0.40 per share for a period of three years following
closing. The proceeds from the sale of the Notes are being used for the
development of the Jerritt Canyon facilities and for working capital
purposes.
Yukon-Nevada Gold Co (YNG)
0.84 ? 0.0 (0.00%)
Volume: 950,270 @ 1:30:23 PM ET
Bid Ask Day's Range
0.83 0.84 0.81 - 0.84
Full TSE:YNG Quote
YUKON-NEVADA GOLD CORP. ENTERS INTO ORE PURCHASE DEAL WITH NEWMONT
Wednesday November 3, 2010, 8:30 am
VANCOUVER, Nov. 3 /CNW/ - Yukon-Nevada Gold Corp. ("YNG" or the "Company") (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) is pleased to announce that it has entered into an ore purchase agreement with Newmont Mining Corporation (TSX:NMC - News).
YNG will accept delivery of approximately 2,000 tons of gold bearing ore per day from several of Newmont's mines in Nevada. Ore deliveries started on Saturday, 30th of October 2010.
The ore purchase transaction is part of a steady increase in mill throughput the Company is targeting and will provide the ability to achieve and maintain its minimum 150,000 ounces per year of gold production. This is the first milestone toward increased sustainable gold production. The Company has been steadily passing all of its independent stack tests for mercury and other emissions and has recently passed the 100 tons per hour ore throughput for each roaster circuit. The target is to eventually achieve an ability to process 6,000 tons per day through the roaster circuit.
In the meantime the Company is preparing to re-open the SSX-Steer underground mine complex , which is scheduled to contribute up to 1,200 tons per day by end of 2011. In addition, the Smith mine is already contributing 1,000 tons per day. Together with stock piled ore already on the property, the Company is targeting a throughput of 4,000 tons per day from the foregoing ore as it builds other sources to supply feed to the plant.
These achievements will ensure the Company continues on its path of a return to profitability and will be able to sustain this into the coming year.
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 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.
For further information
Yukon-Nevada Gold Corp. Richard Moritz Senior Director, Institutional Investor Relations Tel: (604) 688-9427 Email: rmoritz@yngc.ca Nicole Sanches Investor Relations Manager Tel: (604) 688-9427 ext 224 Email: nicole@yngc.ca www.yukon-nevadagold.com CHF Investor Relations Jeanny So Director of Operations Tel: (416) 868-1079 ext. 225 Email: jeanny@chfir.com www.chfir.com
http://finance.yahoo.com/news/YUKONNEVADA-GOLD-CORP-ENTERS-cnw-1861893277.html?x=0&.v=1
THE CONNECTOR TARGET AT KETZA RIVER PROVES TO BE A HIT
On Tuesday October 26, 2010, 8:30 am
VANCOUVER, Oct. 26 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) is pleased to announce favorable results from its on-going 2010 drilling program at Ketza River. The Ketza River property is wholly-owned by Yukon-Nevada Gold Corp., 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.
Continued at:
http://finance.yahoo.com/news/THE-CONNECTOR-TARGET-AT-KETZA-cnw-4072656693.html?x=0&.v=1
KETZA IP TARGET PROVES TO BEAR SIGNIFICANT GOLD INTERCEPTS
Wed Oct 6, 8:30 AM
VANCOUVER, Oct. 6 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange:YNG; OTC:YNGFF; Frankfurt Xetra Exchange:NG6) is pleased to announce additional favorable results from its on-going 2010 drilling program at Ketza River. The Ketza River property is wholly-owned by Yukon-Nevada Gold Corp., and it is a past gold producer located near the town of Ross River in the Yukon Territory, Canada.
The recently received assay results are from the QB Zone - Deep Induced Polarization ("IP") Target that was generated from a Titan-24 survey conducted in August of 2009. The QB Zone hosts a gold resource, as identified in the most recent NI-43-101 Technical Report dated April 14, 2008 (which can be found on our website here: http://www.yukon-nevadagold.com/s/KetzaManto.asp?ReportID=296836), that is hosted in siliciclastic rocks with quartz veins, disseminated sulfides, and quartz-breccia zones. All drill holes referenced in this news release are diamond drill holes completed from one drill rig at the same drill pad between January and March, 2010 and for which assays were recently received.
The geophysical survey identified a zone of chargeability and conductivity beneath the existing near-surface QB Zone resource (see Figure 1 Plan Map posted on the YNG website here: http://www.yukon-nevadagold.com/i/pdf/QBZoneDeepIP.pdf). The top of the IP anomaly starts at approximately 700 meters below the surface. The first two drill holes (KR-10-1477 and KR-10-1478) encountered significant intervals of fault zones and failed to reach their target depths (IP anomaly zones) before being lost due to very poor rock conditions.
Drill hole number KR-10-1479, was completed to 862 meters (2,827 feet) and encountered several zones of Au mineralization prior to reaching the depth of the IP target. The rock in the bottom half of this drill hole averages about 3 percent total sulfides and is sufficiently high enough to explain the IP anomaly. No intrusive rock was intersected.
Assay results, conducted by ALS Laboratory Group at their North Vancouver facility, are presented in the following table. The best intercept of the three drill holes was from KR-10-1478 which intersected 7.8 meters grading 2.53 g/t Au from 196.30 to 204.10 m. Another mineralized intercept in drill hole number KR-10-1479 from 639.52 to 640.55 m intersected 1.03 m averaging 11.60 g/t Au. Assayed intervals from drill hole KR-10-1479 contained anomalous gold throughout much of its length.
Summary of Significant Intercepts from the QB Zone - Deep IP Target
-------------------------------------------------------------------------
Drill Hole Number From (m) To (m) Thickness Grade (g/t)
(m)*
-------------------------------------------------------------------------
KR-10-1477 131.65 132.24 0.59 4.28
(Drill hole did not ----------------------------------------------------
reach target depth)
232.81 233.72 0.91 2.22
-------------------------------------------------------------------------
KR-10-1478 115.48 115.84 0.36 1.95
(Drill hole did not ----------------------------------------------------
reach target depth) 196.30 204.10 7.80 2.53
----------------------------------------------------
208.97 209.94 0.97 7.83
----------------------------------------------------
210.74 210.97 0.23 1.07
----------------------------------------------------
308.25 309.52 1.27 2.19
----------------------------------------------------
324.53 326.52 1.99 3.45
----------------------------------------------------
338.80 339.92 1.12 1.69
-------------------------------------------------------------------------
KR-10-1479 86.06 87.05 0.99 8.50
----------------------------------------------------
106.37 106.75 0.38 6.24
----------------------------------------------------
109.66 109.87 0.21 1.16
----------------------------------------------------
163.68 166.73 3.05 2.22
----------------------------------------------------
356.18 357.51 1.33 3.92
----------------------------------------------------
409.32 410.35 1.03 1.86
----------------------------------------------------
598.39 599.26 0.87 3.87
----------------------------------------------------
639.52 640.55 1.03 11.60
----------------------------------------------------
670.50 672.70 2.20 4.87
----------------------------------------------------
743.90 746.89 2.99 2.30
-------------------------------------------------------------------------
* Notes: (1) With the limited drilling, true thickness values of the
mineralized intercepts are not known;
(2) (All drill holes completed from the same drill pad at
approximately 645770E and 6826609N and 1697 m elevation;
(3) drill hole number KR-10-1477 was drilled to total depth of
300.84 m; drill hole number KR-10-1478 was drilled to total
depth of 438.0 m
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (USD) $0.75
Change ? 0.04 (5.63%)
Bid 0.75
Ask 0.76
Volume 1,951,974
Days Range 0.72 - 0.77
Last Trade 9/24/2010 3:59:51 PM
Detailed YNG Stock Quote
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (USD) $0.62
Change ? -0.02 (-3.12%)
Bid 0.62
Ask 0.63
Volume 3,086,933 good demand
Days Range 0.6 - 0.65
Last Trade 8/20/2010 2:36:24 PM
Click for detailed quote page
Yukon-Nevada Gold Corp. intersects additional strong gold mineralization at the Ketza River Project
Wednesday August 18, 2010, 8:30 am
VANCOUVER, Aug. 18 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) is pleased to announce favorable results from its restarted and on-going 2010 drilling program at Ketza River. The Ketza River property is wholly-owned by Yukon-Nevada Gold Corp., and it is a past gold producer located near the town of Ross River in the Yukon Territory, Canada.
The recently received assay results are from the Bluff Zone at the Ketza River Project. The Bluff Zone is an individual mineralized zone located west of the proposed Peel open-pit resource area and east of the proposed Lab-Calcite open-pit resource area. All drill holes referenced in this news release are diamond drill holes completed from one drill rig between November 2009 and February 2010 and for which assays were recently received.
The Bluff Zone is a structurally-controlled, steeply-dipping sulfide replacement (manto) zone in limestone. Mineralization at the Bluff Zone has been exposed in several places on the surface by trenching. In addition, a small limestone quarry is located nearby to the Bluff Zone. Several of the previously reported 2008 drill holes intercepted massive pyrrhotite replacement mineralization with strong gold values. Drill hole KR-08-1355 intersected 11.2 meters of 9.7 g/t Au starting at a depth of 12.1 meters whereas drill hole KR-08-1351 intercepted 4.8 meters grading 11.5 g/t Au starting at 5.6 meters as previously reported in a news release issued on April 15th, 2009.
Continued at:
http://finance.yahoo.com/news/YukonNevada-Gold-Corp-cnw-2883714572.html?x=0&.v=1
Yukon-Nevada Gold Corp. shows continued improvement in second quarter results
Tuesday August 17, 2010, 8:30 am EDT
VANCOUVER, Aug. 17 /CNW/ - Yukon-Nevada Gold Corp. (the "Company") (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) today announced the financial and operating results for the second quarter ended June 30, 2010. This information should be read in conjunction with the Company's annual financial statements, notes to the financial statements and Management's Discussion and Analysis. All dollar amounts are expressed in United States Dollars unless otherwise specified.
Continued at:
http://finance.yahoo.com/news/YukonNevada-Gold-Corp-shows-cnw-3124612616.html?x=0&.v=1
Yukon-Nevada Gold Corp. reaches steady state production
Monday August 9, 2010, 8:30 am
VANCOUVER, Aug. 9 /CNW/ - Yukon-Nevada Gold Corp.'s (or "the Company") (Toronto Stock Exchange:YNG; OTC:YNGFF; Frankfurt Xetra Exchange:NG6) President and CEO Robert Baldock wishes to advise the market that following its May annual scheduled maintenance shutdown, major maintenance work program and subsequent re-start of the facility, the Company has reached a steady state of plant operation and gold production. This has demonstrated the ability to produce gold for 2010 at an annualized rate of 150,000 ounces per year.
During the shutdown, which was much more comprehensive than a routine maintenance shut down, the company decommissioned its thickener and completely overhauled it, replaced the first of its two quench tanks and completed other major plant and equipment upgrades, all to enable sustainable and increasing gold production.
One deficient item that was discovered during the shutdown overhaul was the need to replace one of the two tertiary cone crushers. Unfortunately it was not possible to obtain a replacement or repair the item in the time frame, this therefore necessitated the temporary shutdown of one side of the tertiary crusher line, reducing the crushing capacity until a replacement was obtained, installed and commissioned. Despite this, the plant still operated during the month of July and produced gold pro-rated at 100,000 ounces per year on an annualized basis.
Chief Operating Officer Graham Dickson confirmed that "subsequent to re-start, the company has produced for the month of July a total of 8,500 ounces of gold with part of the tertiary crusher line down, under less than optimum operating conditions. It is confidently expected that a rate of 12,500 ounces of gold per month is more than sustainable on an ongoing basis".
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.
http://finance.yahoo.com/news/YukonNevada-Gold-Corp-reaches-cnw-3865148397.html?x=0&.v=1
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (USD) $0.265
Change ? 0.01 (3.92%)
Bid 0.255
Ask 0.265
Volume 552,197
Days Range 0.255 - 0.27
Last Trade 7/12/2010 3:59:50 PM
Click for detailed quote page
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (USD) $0.24
Change ? 0.015 (6.67%)
Bid 0.24
Ask 0.245
Volume 805,513
Days Range 0.22 - 0.25
Last Trade 5/12/2010 3:56:12 PM
Click for detailed quote page
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (USD) $0.25
Change ? -0.005 (-1.96%)
Bid 0.25
Ask 0.255
Volume 942,066
Days Range 0.245 - 0.255
Last Trade 3/17/2010 3:59:44 PM
Click for detailed quote page
Yukon-Nevada Gold Corp. intersects 3.05 meters of 84.5 g/t gold at Ketza River Project
Thursday March 4, 2010, 8:30 am
VANCOUVER, March 4 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC:YNGFF) 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.
Yukon-Nevada Gold Corp. signs a letter of engagement with BNP Paribas
Tuesday March 2, 2010, 8:30 am
VANCOUVER, March 2 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) is pleased to announce it has signed an Engagement Letter (the "Engagement") with BNP Paribas - New York to facilitate the further development of the property at Jerritt Canyon, 50 miles from Elko, Nevada. Jerritt Canyon is operated by Yukon-Nevada Gold Corp.'s ("YNG") wholly owned subsidiary Queenstake Resources USA, Inc. ("Queenstake").
Under the terms of the Engagement, BNP Paribas will provide YNG advice and financial services in connection with arranging, structuring, syndicating and distributing a debt facility of up to US$40 million to finance the plant improvement and environmental compliance work required at Jerritt Canyon, and the reopening of the SSX and Steer mines. The Company has recently re-opened the Smith Mine. At the same time the Company will seek permitting for Starvation Canyon, also located at Jerritt Canyon and anticipated to be brought into production in 2011.
Since 1981 the Jerritt Canyon property has produced approximately 8 million ounces of gold. Queenstake has recommenced production from its Smith mine at Jerritt Canyon and will also be in production from both the SSX and Steer mines before year end. Near mine surface and underground exploration will commence shortly. This is designed to provide continuing production from the existing mines and continue to extend the longevity of Jerritt Canyon. In addition, regional exploration within the 310 square kilometer Jerritt Canyon property will be undertaken with the objective of discovering new gold mines.
The Engagement also provides for similar services in connection with the structuring of an additional debt facility to fund the acquisition of other mines, future ore resources and stockpiles within economic trucking distance from the Jerritt Canyon mill. Acquisition of additional ore resources is part of the corporate objective of matching an increasing mill throughput capacity with additional ore feed, once the above improvement program is completed.
The Engagement does not constitute a commitment on the part of BNP Paribas to lend or commit to lend moneys, or to provide any other facilities in connection with Jerritt Canyon or YNG. The establishment of the contemplated debt facilities remains subject to due diligence, financial modelling, market conditions and various other factors.
BNP Paribas will receive both cash and non-cash compensation. The non-cash compensation consists of US$1,000 per day, to be paid monthly in shares of YNG, based on the market price of YNG's shares at the end of each month of the assignment.
BNP Paribas (http://www.bnpparibas.com/) is the Eurozone's leading bank in terms of deposits, and one of the 10 most important banks in the world in terms of net banking income, equity capital and market value. Furthermore, it is one of the 6 strongest banks in the world according to Standard & Poor's. With a presence in 85 countries and more than 205,000 employees, 165,200 of which are in Europe, BNP Paribas is a global-scale European leader in financial services. It holds key positions in its three activities: Retail banking, Investment Solutions and Corporate & Investment Banking. The Group benefits from its four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
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 in addition to the planned acquisitions mentioned above.
This News release was reviewed and approved by the Company's Senior Geologist, Todd Johnson, M.Sc., the Qualified Person for purposes of this release.
http://finance.yahoo.com/news/YukonNevada-Gold-Corp-signs-a-cnw-2059673395.html?x=0&.v=1
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (CAD)
$ 0.29
Change
? 0
Bid 0.28
Ask 0.29
Volume 388,270
Day's Range 0.28 - 0.29
Last Trade 4:15:11 PM EST
Click for Detailed Quote Page
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (CAD)
$ 0.3
Change
◊ 0
Bid 0.29
Ask 0.30
Volume 483,723
Day's Range 0.265 - 0.31
Last Trade 10:45:13 AM EST
Click for Detailed Quote Page
Yukon-Nevada Gold Corp. resumes gold production at Jerritt Canyon, Nevada
* Press Release
* Source: Yukon-Nevada Gold Corp.
* On 8:30 am EDT, Tuesday October 20, 2009
VANCOUVER, Oct. 20 /CNW/ -
Yukon-Nevada Gold Corp. -
(Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to announce that it has recommenced processing ore and gold production at its Jerritt Canyon facility 50 miles from Elko, Nevada. Jerritt Canyon is owned and operated by Queenstake Resources U.S.A. Ltd. ("Queenstake"), a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company"). The Consent Decree was entered into the Elko District Court, October 15, 2009, thus setting its effective date and allowing for the restart of the milling facility
The first gold pour was attended by the Chief Operating Officer (COO) of YNG, Graham Dickson, Scott Alcorn the Process Superintendent, Craig Martinez the Electrical Superintendent and Pablo Cortez the Information Technology Manager. Present also were the following representatives of YNG; Randy Hassen, Ruston Hebdon, Dave Hoegger, Mathew Jones, Mike McGhee Sr., Mike McGhee Jr., Jeremiah Walters, Jeannie Butterfield and from the Elko Daily Free Press, Adella Harding.
COO Graham Dickson was happy to see the successful culmination of a great deal of effort and hard work expended by the employees of YNG. Mr. Dickson said, "We can now concentrate on our plans to keep the property in compliance, restart mining at Jerritt Canyon at both the Smith and SSX mine and to make further advance towards profitable production at Ketza River in the Yukon Territory.
Ongoing permitting at Starvation Canyon, Nevada will allow the Company, in the future, to realize an increase in the production of gold ounces at Jerritt Canyon."
As previously stated in the October 14, 2009 news release; by milling a combination of available stock piles and recommencing mining activity, the Company is targeting a total production of 150,000 ounces of gold in the first full year of production at a cash cost of US$465 per ounce after re-start of operations and after the mill establishes steady state operation.
The Company is also pleased to announce the appointment to the Board of Directors of Jean-Edgar Trentinian, Terry Eisenman and Simon Solomonidis. Peter Holbek, M.Sc., P.Geo., RJ (Don) MacDonald, CA and Neil J.F. Steenberg have resigned from the Board to allow the Board of Directors to more accurately reflect the shareholder base of the Company. The Company wishes to thank the outgoing Directors for their valuable services to the Company during a difficult period in the Company's development.
This News release was reviewed and approved by the Company's Senior Geologist, Todd Johnson, M.Sc., 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(at)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.
For further information
Yukon-Nevada Gold Corp., Nicole Sanches, Investor Relations Manager, Tel: (604) 688-9427, Email: nicole@yngc.ca,
http://www.yukon-nevadagold.com
CHF Investor Relations, Jeanny So, Director of Operations, Tel: (416) 868-1079 ext. 225, Email: jeanny@chfir.com, www.chfir.com
Yukon-Nevada Gold Corp. resumes gold production at Jerritt Canyon, Nevada
8:30 am EDT, Tuesday October 20, 2009
VANCOUVER, Oct. 20 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC: YNGFF; Frankfurt Xetra Exchange: NG6) is pleased to announce that it has recommenced processing ore and gold production at its Jerritt Canyon facility 50 miles from Elko, Nevada. Jerritt Canyon is owned and operated by Queenstake Resources U.S.A. Ltd. ("Queenstake"), a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company"). The Consent Decree was entered into the Elko District Court, October 15, 2009, thus setting its effective date and allowing for the restart of the milling facility
The first gold pour was attended by the Chief Operating Officer (COO) of YNG, Graham Dickson, Scott Alcorn the Process Superintendent, Craig Martinez the Electrical Superintendent and Pablo Cortez the Information Technology Manager. Present also were the following representatives of YNG; Randy Hassen, Ruston Hebdon, Dave Hoegger, Mathew Jones, Mike McGhee Sr., Mike McGhee Jr., Jeremiah Walters, Jeannie Butterfield and from the Elko Daily Free Press, Adella Harding.
COO Graham Dickson was happy to see the successful culmination of a great deal of effort and hard work expended by the employees of YNG. Mr. Dickson said, "We can now concentrate on our plans to keep the property in compliance, restart mining at Jerritt Canyon at both the Smith and SSX mine and to make further advance towards profitable production at Ketza River in the Yukon Territory.
Ongoing permitting at Starvation Canyon, Nevada will allow the Company, in the future, to realize an increase in the production of gold ounces at Jerritt Canyon."
As previously stated in the October 14, 2009 news release; by milling a combination of available stock piles and recommencing mining activity, the Company is targeting a total production of 150,000 ounces of gold in the first full year of production at a cash cost of US$465 per ounce after re-start of operations and after the mill establishes steady state operation.
The Company is also pleased to announce the appointment to the Board of Directors of Jean-Edgar Trentinian, Terry Eisenman and Simon Solomonidis. Peter Holbek, M.Sc., P.Geo., RJ (Don) MacDonald, CA and Neil J.F. Steenberg have resigned from the Board to allow the Board of Directors to more accurately reflect the shareholder base of the Company. The Company wishes to thank the outgoing Directors for their valuable services to the Company during a difficult period in the Company's development.
This News release was reviewed and approved by the Company's Senior Geologist, Todd Johnson, M.Sc., 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.
http://finance.yahoo.com/news/YukonNevada-Gold-Corp-resumes-cnw-2841682310.html?x=0&.v=1
Yukon-Nevada Gold Co (TSE:YNG)
Last Price (CAD)
$ 0.1
Change
▲ 0.02 (25.00%)
Bid 0.10
Ask 0.105
Volume 580,566
Day's Range 0.085 - 0.11
Last Trade 2:44:41 PM EDT
Click for Detailed Quote Page
No announcement of resumed production but YNG did post this. It it just me or do these guys get sued a lot?
YNG better start making ounces. I'm guessing the lawyers won't work for shares in the company.
July 21, 2009
Yukon-Nevada Gold Corp. receives class action lawsuit
Vancouver, BC -- July 21, 2009 -- Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) Yukon-Nevada Gold Corp. (the "Company"), announces that it and its wholly owned subsidiary, Queenstake Resources U.S.A., Inc. ("Queenstake"), have been named as defendants in a class action lawsuit initiated by certain employees who were laid off in August 2008.
The action is for an alleged violation of the Federal WARN Act, Employment Retirement Income Security Act, State Labor Laws and to foreclose on labor liens not yet filed.
As previously stated in a news release dated April 16, 2009, Queenstake intends to satisfy all outstanding legal obligations due, caused by the shut down in August 2008. When the mine closed the Company paid as much as it could from available cash at the time, which was a reasonable proportion toward what was then due under the Federal WARN Act, Employment Retirement Income Security Act, and State Labor Law obligations. Since then it has paid approximately 50% of the then remaining outstanding balance due under the Federal WARN Act.
As Queenstake moves forward to recommence production as indicated in other recent news, it should soon be in a position to satisfy justifiable claims.
The Company and Queenstake will defend the class action from any and all unjustified claims where they believe there is no obligation.
Yukon-Nevada Gold Corp.
Nicole Sanches
Investor Relations Manager
Tel: (604) 688-9427
Email: nicole@yngc.ca
www.yukon-nevadagold.com
Jerritt Canyon targets 20th July to be operationally ready for start-up
Friday July 17, 2009, 8:30 am EDT
VANCOUVER, July 17 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; OTC:YNGFF; Frankfurt Xetra Exchange: NG6) Queenstake Resources USA, Inc. ("Queenstake"), a wholly owned subsidiary of Yukon-Nevada Gold Corp. (the "Company") owns and operates its gold producing assets located in Jerritt Canyon, Nevada.
Queenstake closed the mine and mill in August 2008 to upgrade the facilities and address outstanding environmental requirements of the Nevada Division of Environmental Protection ("NDEP"). Since then, Queenstake has been working on the installation of a new mercury-control (or "calomel") system which controls air emissions to the atmosphere. At the same time it has been working to upgrade many aspects of the mill and processing facility which operated successfully at Jerritt Canyon for almost 25 years, producing more than 7,000,000 ounces of gold during that time.
START-UP UPDATE
The Company is now pleased to provide an update to its ongoing activities at the Jerritt Canyon operations. Queenstake is preparing the mine and mill for the re-start of milling and processing operations, to be followed by renewal of underground mining operations in due course.
Queenstake has completed the installation of all ductwork for the new emission control equipment at the milling facility. The final installation and calibration of instrumentation is now well underway and is expected to be completed in the next few days. This will place the Company in a position to start up operations on Monday 20th July 2009.
Start up of the mill will require finalization of a consent decree which is being negotiated with the NDEP at this time. A consent decree agreement is a document that records and agrees to the terms of an environmental work program between the NDEP and the Company. This includes among other work, the independent testing of the efficiency of the calomel system after start-up, which system cannot be tested without mill roasters being in operation.
This agreement is now in draft form requiring finalization and execution by the parties, and ultimate issuance by the court. This agreement will address any outstanding NDEP compliance issues and establish a schedule with deadlines and enforcement criteria for completing certain environmental tasks. The Company is optimistic that this will allow re-start of the mill before the end of July.
GOLDEN EAGLE INTERNATIONAL INC. DISPUTE
In other developments, Queenstake recently filed suit against Golden Eagle International Inc. ("Golden Eagle") after Golden Eagle's activities as operator of the mill were terminated for cause on June 10, 2009. Last week, Golden Eagle filed counterclaims against Queenstake. The Company believes that the allegations in the Golden Eagle counterclaims are meritless, without foundation in fact and reflect the views of a disgruntled former contractor. Regrettably, Queenstake has not been able to reach an amicable resolution with Golden Eagle, despite substantial good-faith efforts on Queenstake's part since Queenstake filed suit. Queenstake will respond to every allegation in due course and will continue to vigorously defend itself.
As discussed above, Queenstake has been busy, since Golden Eagle was barred from the site, addressing the problems created by Golden Eagle's actions and inactions as operator. The Court is being asked not to allow Golden Eagle to return to the jobsite.
HISTORY
Following a year-long investigation into mercury emissions, in March 2008 the NDEP ordered Queenstake to install new state-of-the-art calomel emission control equipment at the Jerritt Canyon Mine by the end of that year. Before the NDEP's order was satisfied, Queenstake, by its own action, stopped mining and processing ore at Jerritt Canyon Mine in August 2008. The facility remained shut down while the new emission control systems were designed. Staff from Queenstake and the NDEP worked together to resolve several air emission issues related to the roasting operation. Queenstake's newly designed calomel mercury control and removal system is expected to control mercury and other emissions to levels well below the required emissions standards.
NDEP issued Order 2009-4 on March 25, 2009, allowing Queenstake to restart ore processing operations after the mine's initial environmental compliance was satisfied. Since that time, the Company found itself unable to meet the May 30 deadline in the initial Order to complete all of the work on the new calomel system. Queenstake had successfully complied with other requirements of operation of NDEP Order 2009-4, but voluntarily and in conjunction with a subsequent NDEP Order (2009-6 on June 5, 2009), closed down mill operations on May 30. Since that time, Queenstake has continued to address outstanding environmental requirements and make progress on installing the new calomel system.
The Company 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.
http://finance.yahoo.com/news/Jerritt-Canyon-targets-20th-cnw-2168293460.html?x=0&.v=1
Followers
|
7
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
213
|
Created
|
06/25/07
|
Type
|
Free
|
Moderators |
Yukon-Nevada Gold Corp.
http://www.yukon-nevadagold.com/s/Management.asp
At the Annual General Meeting and Special Shareholders' Meetings
Of YGC Resources Ltd. and Queenstake Resources Ltd. on Friday,
May 18th, 2007 both sets of shareholders approved the plan of
arrangement leading to the merger of the two companies to form
Yukon-Nevada Gold Corp.
Yukon-Nevada Gold Corp. is a North American gold producer in
the business of discovering, developing and operating gold
ore deposits.
Continued growth will occur by increasing or initiating
production from its existing properties and by further acquisitions.
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 aims to achieve production from
the Ketza River Mine -
manto deposits and to further explore the highly potential
Shamrock Zone and Silver Valley, both in the Yukon.
The short term goals are to have a pre-feasibility study
completed; to make a positive mill decision;
and to have a mine and mill in operation producing up
to 140,000 ounces of gold per year.
A 43-101 report on the Ketza property was completed in
October 2005 with 756,700 ounces of gold in the measured
and indicated categories and 1,054,400 ounces of gold in
the inferred category.
An updated 43-101 is in preparation at the moment.
Since operations began in 1981, Jerritt Canyon in Nevada
has produced over 8 million ounces of gold.
Open pit mining occurred between 1981 and 1999.
Portal-accessed, underground mining commenced in 1993
and continues today with
the SSX-Steer Complex and the Smith mine.
The Mahala deposit, located within
the Smith mine -
began commercial production in mid 2005.
Production at the Murray Mine -
is expected to be completed during 2006.
http://www.yukon-nevadagold.com/s/Home.asp
Yukon-Nevada Gold Corp.
540 - 688 W. Hastings St.
Vancouver, B.C.,
Canada V6B 1P1
Tel: 604.688.9427
Fax: 604.688.9426
Email: graham@ygcr.ca
http://www.yukon-nevadagold.com/s/StockInfo.asp
-
http://www.yukon-nevadagold.com/s/Projects.asp
http://www.yukon-nevadagold.com/s/JerrittCanyon.asp
www.ivarkreuger.com/metalcharts.htm
www.silverbearcafe.com/
Second wave LT trend started - of the 5-wave Elliott pattern.
Useful PM related sites:
http://www.24hgold.com/
http://www.jsmineset.com/
http://www.marketwatch.com/
http://www.mineweb.com/
http://www.gold-eagle.com/
http://www.kitco.com/
http://www.usagold.com/
http://www.usagold.com/amk/usagoldmarketupdate.html
http://www.GoldSeek.com/
http://www.GoldReview.com/
http://www.capitalupdates.com/
http://www.dailyreckoning.com/
http://www.goldenbar.com/
http://www.silver-investor.com/
http://www.thebulliondesk.com/
http://www.sharelynx.com/
http://www.mininglife.com/
http://www.financialsense.com/
http://www.fgmr.com/
http://www.goldensextant.com/
http://www.goldismoney.info/index.html
http://www.howestreet.com/
http://www.depression2.tv/
http://www.un-debt.net/
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.goldcolony.com/
http://www.miningstocks.com/
http://www.mineralstox.com/
http://www.freemarketnews.com/
http://www.321gold.com/
http://www.silverseek.com/
http://www.investmentrarities.com/
http://www.kereport.com/ (Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm (in Spanish)
http://www.plata.com.mx/plata/plata/english.htm (in English)
http://www.resourceinvestor.com/
http://www.miningmx.com/
http://www.prudentbear.com/
http://www.dollarcollapse.com/
http://www.kitcocasey.com/
http://000999.forumactif.com/
http://www.golddrivers.com/
http://www.goldpennystocks.com/
http://www.oroyfinanzas.com/
http://www.goldcore.com/
http://coininfo.com/
http://www.insidegold.com/
http://www.goldmau.com/
http://www.milesfranklin.com/
http://www.silverminers.com/
http://www.gold-speculator.com/
http://bullion.nwtmint.com/
http://www.preciousmetalsmonthly.com/
http://www.silverstockreport.com/
http://www.longwavegroup.com/
http://theaureport.com/
Subscription sites:
http://www.lemetropolecafe.com/
http://www.marketforceanalysis.com/
http://www.hsletter.com/
http://www.interventionalanalysis.com/
http://www.investmentindicators.com/
http://www.caseyresearch.com/
http://www.deepcaster.com/
http://www.vrtrader.net/
Eagle Ranch discussion site:
http://os2eagle.net/SSL/phpentry.php
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
Conspiracy World: A Truthteller's Compendium of Eye-Opening Revelations and Forbidden Knowledge
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |