11:48 AM EST - Yukon-Nevada Gold Corp : announced results from its 2011 Smith Mine underground diamond drilling program at its wholly-owned Jerritt Canyon gold operation in Nevada. Zone 1 resource conversion drilling consisted of seven drill holes (SMI-LX-776 through SMI-LX-782) totaling 5,499 feet (1,679 metres). Five of the seven drill holes intersected significant mineralization (four of which had multiple intersections). Drill holes SMI-LX-777 and SMI-LX-778 highlighted the Zone 1 assay results as they returned 213.0 feet (64.96 metres) grading 0.208 opt (7.13 g/t) and 140 feet (42.70 metres) grading 0.145 opt (4.97 g/t) respectively. Zone 1 mineralization lies sub-parallel to and in the foot wall of the northeast-trending Coulee fault zone. All of the reported Zone 1 mineralization occurs within 750 linear feet (229 linear metres) of the existing underground infrastructure. Yukon-Nevada Gold Corp
shares T.YNG are trading even at $0.27.
