TORONTO, Dec. 12, 2005 (PRIMEZONE) -- Yukon Gold Corporation, Inc. ("Yukon Gold") (OTCBB:YGDC) has released drill results from its diamond drill program at the company's 100% owned Marg VMS polymetallic project located in the Mayo Mining District, Yukon. Exploration in 2005 focused on upgrading inferred mineralization to a drill indicated resource as well as finding new extensions of the main zone at depth.
Highlights: a) Assay results have been received from the 2005 Marg Deposit drill program targeted at extending mineralization at the polymetallic volcanogenic massive sulphide property. The drill hole assays include the following information:
MARG PROJECT 2005 DIAMOND DRILL ASSAY RESULTS
Hole Section Horizon From (m) To (m) Width (See note)(m)
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84 1900E D1 Horizon 215.07 218.24 3.17
85 1900E D1 Horizon 131.17 137.29 6.12
86 1950E D1 Horizon 293.41 297.00 3.59
87 1950E D2 Horizon 298.49 300.86 2.37
D1 Horizon 306.43 309.13 2.70
Hole Copper (%) Lead (%) Zinc (%) Gold (g/t) Silver (g/t)
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84 2.17 2.45 5.04 0.64 57
85 2.84 2.38 5.48 0.55 48
86 2.19 2.89 5.81 0.84 69
87 2.20 2.84 5.36 1.18 56
2.08 1.93 4.02 0.71 48
Note: Intersected widths are approximate true widths
b) Results from the four-hole program confirm additional high-grade copper and zinc mineralization outside the boundaries of the historical resource. c) A new three-dimensional model of the Marg deposit will be constructed in anticipation of an updated resource and preliminary economic assessment study in 2006.
The Marg polymetallic VMS deposit, has a historic drill indicated resource of 5,527,000 tonnes, grading 1.76% Copper, 2.46% Lead, 4.6% Zinc, 63g/t silver and 1 g/t gold. Holes 84 and 85 were designed to upgrade "inferred" resources to "indicated" resources in an area of the deposit with relatively widespread historical intersections. Holes 86 and 87 were drilled outside the limits of the historical resource.
Assay Procedures
Core samples were split on site and shipped to ALS Chemex in North Vancouver. Samples were then crushed to better than 70% -2mm and a 250g sample was pulverized to better than 85% passing 75 micron. Copper, lead, zinc and silver were determined by Atomic Absorption Spectroscopy on an Aqua Regia digestion. Gold was determined by fire assay of a 30g nominal sample weight with an Atomic Absorption Spectroscopy finish.
As part of the Quality Control and Assurance protocol, blank samples have been routinely inserted into the sample stream and the HQ Core has been quartered at random intervals for check assays at the Acme Analytical Laboratories.
The Qualified Person is R. C. Carne, P. Geo. an independent consultant.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company trading on the Nasdaq OTCBB under the symbol "YGDC". The Company's main focus is its newly acquired VMS deposit (Marg Property) and its Mount Hinton gold and silver exploration project in the Central Yukon Territory of Canada. These properties lie within the Tombstone Gold Belt, world renowned for the discovery of major gold and base metal deposits. Within immediate proximity to the Company's Projects are a number of idle, former producing mines and drill indicated resources which Yukon Gold plans to target for acquisition. Currently, there are approximately 10.5 million of the Company's common shares outstanding.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.