Yukon-Nevada Gold Corp. signs mining contract with Small Mine Developers
SMD has a long history at the property and was operating in the Smith mine prior to the closure in 2008. As well, SMD has been on the leading edge of mechanized underground mining innovation in the western
SMD will be focused on restarting gold mining activity at the Smith mine, accessed through a portal from the Dash open pit. They will be solely responsible for the mining, backfill, and waste cleanup work within the mine, as well as development work determined by them to provide the best access for ore extraction. SMD will also carry out any exploration work requested by the Company to carry out further definition of the adjacent ore bodies.
The Smith mine contains 28,100 ounces (92,500 tons averaging 0.304 opt Au) of proven reserves and an additional 241,400 ounces (861,600 tons averaging 0.280 opt Au) of probable gold reserves much of which are accessible from the existing infrastructure. This should allow the mining activity to result in significant cash flows to the Company to supplement the processing of its own ores and provide additional funds for other mining activities with minimal upfront cost. SMD will share in the results of the mining activity based on the grade and tonnage achieved, with both companies benefiting from efficient and effective mine planning.
For more information about SMD please check out their website here: http://www.undergroundmining.com
This news release was reviewed and approved by the Company's Senior Geologist,
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
If you would like to receive press releases via email please contact [email protected] 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
%SEDAR: 00004098E
For further information: Yukon-Nevada Gold Corp., Nicole Sanches, Investor Relations Manager, Tel: (604) 688-9427, Email: [email protected], www.yukon-nevadagold.com; CHF Investor Relations, Jeanny So, Director of Operations, Tel: (416) 868-1079 ext. 225, Email: [email protected], www.chfir.com
Share this article