Yukon Gold Corporation, Inc. to Begin Assessing Extensive Gold Vein Mineralization on its MT. Hinton Property in the Yukon
Toronto, Canada (PRWEB) February 23, 2005
Yukon Gold Corporation, Inc. (ÂYukon GoldÂ), (OTCBB: YGDC) today announced it will expedite exploration plans on its Mt Hinton Gold Project for the 2005 work season, to further assess the extensive gold vein mineralization on the property, located in the Yukon Territory. The Mount Hinton project covers approximately 12,355 acres within the Tombstone Gold Belt, which is world renowned for the discovery of major gold and base metal deposits, and lies just east of the United Keno Hill Mining Camp.
United Keno Hill Mines Ltd. controlled the Mt. Hinton property for over 40 years and carried out exploration work in the 1960Âs and again in 1980, discovering a number of gold veins. It has been estimated that $ 6 million CDN was spent on the property by previous explorer groups.
The primary exploration target on the Mount Hinton property is a 1,000-foot wide and over 2-mile long trend of mineralized gold and silver bearing vein fault structure. As many as 50 mineralized veins or discrete mineralized vein float trains have been discovered to date in this vein fault structure. These individual veins delineate continuous gold mineralization over the distances sampled. Vertical gold mineralization occurs over a distance of approximately 800 feet down the face of Mount Hinton. Individual samples from these veins have returned grades of up to 5.0 ounces of gold and 30.0 ounces of silver per ton.
Given the geological and structural model developed from 100 years of exploration and mining in the area, the extent and continuity of gold mineralization in the Mount Hinton vein fault system presents the potential for development of a significant gold/silver resource. Work carried out to date by Yukon Gold has verified old discoveries and results plus added several new veins and anomalies, extending the strike length of the identified vein fault structure. Road access and drill sites have been completed in preparation for diamond drilling and underground exploration and development.
To date, Yukon Gold has spent approximately $ 900,000 on exploration of the Mount Hinton project, which it acquired in 2002. The exploration programs carried out have included geochemical mapping, trenching, and sampling of a number of highly mineralized veins. The 2005 work program will include drilling targeted vein prospects, well defined anomalies and identifying an underground portal location for further exploration and development. Establishing underground access will allow close spaced diamond drilling to further delineate and evaluate the size and grade of the targeted veins.
About Yukon Gold
Yukon Gold Corporation, Inc. is an extremely active and progressive public junior exploration and development company trading on the NASDAQ OTCBB under the symbol “YGDC”. The CompanyÂs main focus is its Mount Hinton gold and silver exploration project in the Central Yukon Territory of Canada. The property lies within the Tombstone Gold Belt, world renowned for the discovery of major gold and base metal deposits. Within immediate proximity to the Mount Hinton Project are a number of idle, former producing mines and drill indicated resources which the Company plans to target for acquisition. For more information regarding Yukon Gold and its properties, please visit: http://www.yukongoldcorp.com
For More Information, Please Contact:
Corporate Contact:
Yukon Gold Corporation, Inc.
Paul Gorman
(416) 865-9869
Toll Free (800) 295-0671
E: pgorman@yukongoldcorp.com
Company Website: http://www.yukongoldcorp.comI
Investor Relations Contact:
First Canadian Capital
Dan Boase
Vice President
(416) 742-5600
E: dboase@firstcanadiancapital.com
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