Gold Production Resumes At Jerritt Canyon, Nevada

 

VANCOUVER, BC - Yukon-Nevada Gold Corp. reported 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., a wholly owned subsidiary of Yukon-Nevada Gold Corp. 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

COO Graham 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."

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.