Vancouver, BC, Canada, (July 21, 2008). Silverado Gold MinesLtd. (the "Company" or "Silverado") SLGLF OTCBB, SLGL Frankfurt,
www.silverado.com, announces today that ithas completed 16 drill holes totalling 4,823 ft. as part of its 2008 explorationdrilling at Workman's Bench, the Company's prime exploration target on its NolanCreek property. This year's drilling has extended the known lateral extent ofthe stibnite (antimony)-gold vein systems on Workman's Bench from 600 ft. to1,000 ft.
Visible gold was observed in drill core from holes 08SH1B and08SH08. The Company has also collected four large underground samples ofstibnite and gold mineralized rock from the main vein in Tunnel D, which assayedas high as 2.02 troy ounces of gold per ton, and 40.39% antimony.
Workman's Bench is the Company's prime exploration target for a lodegold and antimony deposit in the southwestern part of the Solomon Shear Zone.The Solomon Shear Zone contains NE striking gold-antimony-quartz vein systemswhich also occur in other areas on the Nolan Creek property, including acrossSmith Creek on Pringle Bench and north of Smith Creek Dome.
This yearsdrilling on Workman's Bench has focused on defining the lateral and verticalextent of the known gold and antimony mineralized zones, in particular on themain exposed vein in underground exploration Tunnels C and D. Information thusfar indicates the gold and antimony mineralized zones at Workman's Bench areopen laterally and at depth. A drill hole location map for these zones can befound on the Company's website on the Nolan Creek project page at
https://www.silverado.com/i/pdf/2008-07-21_Fig1.pdf
TheCompany has received the first assay results for drill holes 08SH01A, 08SH01Band 08SH02, which are presented in the table below. The reader should note thatassay results listed in the table present results of individual veins sampledand cut from the drill core. Assays from some of the veins cut in drill holes08SH1B and 08SH02 are pending, and will be reported upon receipt. Additionalassays for the remaining drill holes are also pending. Drilling continues on theWorkman's Bench Zone, as warranted.
The assay results atWorkman's Bench returned significant antimony grades in drill holes 08SH1B and08SH02. Drill core from hole 08SH1B showed visible gold in one vein. Assays forthat particular interval are still pending. Drill hole 08SH02 intersected themain vein at 186.5 ft to 187.5 ft downhole. The vein has a true width of 5inches, and assayed as high as 37.92% antimony and 0.09 troy ounces of gold perton. Visible, coarse gold was also observed in a stibnite-quartz vein in drillhole 08SH08 at 348 ft to 348.2 ft (See
https://www.silverado.com/i/pdf/2008-07-21_Pic1.pdf )and 380 ft to 381.2 ft downhole.
All drill core was logged andphotographed by Silverado geologists. Once all technical data was derived fromthe core, the core was cut lengthwise. The half-core was sampled bypre-determined intervals based on geology, and placed in sealed sample bagslabelled with the assigned sample number. All samples were delivered to ALSChemex in Fairbanks for analysis. Specific antimony samples of massive stibniteveins were delivered to Alaska Assay Laboratories in Fairbanks for analysis.With the shipment to the laboratories of every 20th sample, the Companysubmitted two (2) standard samples, and one (1) blank sample for analysis. Fromtime to time, the Company instructed the laboratories to assay duplicate samplesof the pulp from the drill core.
Silverado further announces that goldand antimony values from large vein samples collected underground from the mainvein in Tunnel D at four different sample locations assayed as high as 2.02 troyounces gold per ton and 40.39% antimony. These assays confirm the high gradenature of gold and antimony mineralization within the main vein over a length of67 ft in Tunnel D. The stibnite ore samples were delivered to Alaska AssayLaboratories in Fairbanks for analysis. Duplicate samples have also beendelivered to ALS Chemex in Fairbanks for analysis. Duplicate assays arepending.
Dr. Karsten Eden,Certified Professional Geologist, and Vice President Exploration of Silverado,is the qualified person as defined by Canadian National Instrument 43-101 forthe Company and has verified the data contained in this news release.
ABOUT THE COMPANY
The Company is an exploration stagecompany focused on the exploration of gold properties, with some pastproduction, and the development of new environmentally friendly low-rank coalwater fuel technology. The Company has gold properties located throughoutAlaska, which include a 100% interest in numerous mining claims located on theNolan Creek property. The Company is developing low-rank coal water fuel thatwould be produced from low-rank coal and processed into an environmentallyfriendly oil substitute. Silverado Green Fuel Inc. is a wholly owned subsidiaryof its publicly traded parent, Silverado Gold Mines Ltd. For more information,please visit
https://www.silverado.com/.
CONTACT INFORMATION -SILVERADO GOLD MINES LTD.
Mailing Address
Suite 1820 -1111 West Georgia St
Vancouver, British Columbia
Canada V6E 4M3
Telephone: (604) 689-1535
Facsimile: (604) 682-3519
Toll Free:1-800-665-4646
(Canada and USA only)
Trading Symbols
OTCBB - SLGLF
FRANKFURT - SLGL
Investor Relations: E-mail:
ir@silverado.com
Public Relations:E-mail:
pr@silverado.com
Media Relations: E-mail:
jay@silverado.com
ThisNews Release may contain, in addition to historical information, forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities Exchange Act of 1934, as amended.Statements in this news release that are forward-looking statements are based onthe current expectations, beliefs, assumptions, estimates and forecasts aboutthe Company's business and the industry and markets in which it operates. Suchforward-looking statements involve risks and uncertainties regarding the marketprice of gold, availability of funds, government regulations, common shareprices, operating costs, capital costs, outcomes of test mining activities andother factors. Forward-looking statements are made, without limitation, inrelation to operating plans, property exploration activities, including testmining activities, availability of funds, environmental reclamation, operatingcosts and permit acquisition. Any statements contained herein that are notstatements of historical facts may be deemed to be forward-looking statements.In some cases, you can identify forward-looking statements by terminology suchas "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe","estimate", "predict", "potential", or "continue", and the negative of suchterms or other comparable terminology. Actual events or results may differmaterially. In evaluating these statements, you should consider various factors,including the risks detailed in the Company's filings with the CanadianSecurities Authorities and the US SEC. These factors may cause the Company'sactual results to differ materially from any forward looking statement. Exceptas required by applicable securities laws, the Company disclaims any obligationto publicly update these statements, or disclose any difference between itsactual results and those reflected in these statements. Given theseuncertainties, readers are cautioned not to place undue reliance on suchforward-looking statements.
View News Release in PDFFormat
You can also view this News Release on our website at:
https://www.silverado.com/s/NewsReleases.asp?ReportID=312502
Silverado Receives Encouraging Preliminary 2008 Drill Results at NolanCreek
Vancouver, BC, Canada, (July 21, 2008). Silverado Gold MinesLtd. (the "Company" or "Silverado") SLGLF OTCBB, SLGL Frankfurt,
www.silverado.com, announces today that ithas completed 16 drill holes totalling 4,823 ft. as part of its 2008 explorationdrilling at Workman's Bench, the Company's prime exploration target on its NolanCreek property. This year's drilling has extended the known lateral extent ofthe stibnite (antimony)-gold vein systems on Workman's Bench from 600 ft. to1,000 ft.
Visible gold was observed in drill core from holes 08SH1B and08SH08. The Company has also collected four large underground samples ofstibnite and gold mineralized rock from the main vein in Tunnel D, which assayedas high as 2.02 troy ounces of gold per ton, and 40.39% antimony.
Workman's Bench is the Company's prime exploration target for a lodegold and antimony deposit in the southwestern part of the Solomon Shear Zone.The Solomon Shear Zone contains NE striking gold-antimony-quartz vein systemswhich also occur in other areas on the Nolan Creek property, including acrossSmith Creek on Pringle Bench and north of Smith Creek Dome.
This yearsdrilling on Workman's Bench has focused on defining the lateral and verticalextent of the known gold and antimony mineralized zones, in particular on themain exposed vein in underground exploration Tunnels C and D. Information thusfar indicates the gold and antimony mineralized zones at Workman's Bench areopen laterally and at depth. A drill hole location map for these zones can befound on the Company's website on the Nolan Creek project page at
https://www.silverado.com/i/pdf/2008-07-21_Fig1.pdf
TheCompany has received the first assay results for drill holes 08SH01A, 08SH01Band 08SH02, which are presented in the table below. The reader should note thatassay results listed in the table present results of individual veins sampledand cut from the drill core. Assays from some of the veins cut in drill holes08SH1B and 08SH02 are pending, and will be reported upon receipt. Additionalassays for the remaining drill holes are also pending. Drilling continues on theWorkman's Bench Zone, as warranted.
The assay results atWorkman's Bench returned significant antimony grades in drill holes 08SH1B and08SH02. Drill core from hole 08SH1B showed visible gold in one vein. Assays forthat particular interval are still pending. Drill hole 08SH02 intersected themain vein at 186.5 ft to 187.5 ft downhole. The vein has a true width of 5inches, and assayed as high as 37.92% antimony and 0.09 troy ounces of gold perton. Visible, coarse gold was also observed in a stibnite-quartz vein in drillhole 08SH08 at 348 ft to 348.2 ft (See
https://www.silverado.com/i/pdf/2008-07-21_Pic1.pdf )and 380 ft to 381.2 ft downhole.
All drill core was logged andphotographed by Silverado geologists. Once all technical data was derived fromthe core, the core was cut lengthwise. The half-core was sampled bypre-determined intervals based on geology, and placed in sealed sample bagslabelled with the assigned sample number. All samples were delivered to ALSChemex in Fairbanks for analysis. Specific antimony samples of massive stibniteveins were delivered to Alaska Assay Laboratories in Fairbanks for analysis.With the shipment to the laboratories of every 20th sample, the Companysubmitted two (2) standard samples, and one (1) blank sample for analysis. Fromtime to time, the Company instructed the laboratories to assay duplicate samplesof the pulp from the drill core.
Silverado further announces that goldand antimony values from large vein samples collected underground from the mainvein in Tunnel D at four different sample locations assayed as high as 2.02 troyounces gold per ton and 40.39% antimony. These assays confirm the high gradenature of gold and antimony mineralization within the main vein over a length of67 ft in Tunnel D. The stibnite ore samples were delivered to Alaska AssayLaboratories in Fairbanks for analysis. Duplicate samples have also beendelivered to ALS Chemex in Fairbanks for analysis. Duplicate assays arepending.
Dr. Karsten Eden,Certified Professional Geologist, and Vice President Exploration of Silverado,is the qualified person as defined by Canadian National Instrument 43-101 forthe Company and has verified the data contained in this news release.
ABOUT THE COMPANY
The Company is an exploration stagecompany focused on the exploration of gold properties, with some pastproduction, and the development of new environmentally friendly low-rank coalwater fuel technology. The Company has gold properties located throughoutAlaska, which include a 100% interest in numerous mining claims located on theNolan Creek property. The Company is developing low-rank coal water fuel thatwould be produced from low-rank coal and processed into an environmentallyfriendly oil substitute. Silverado Green Fuel Inc. is a wholly owned subsidiaryof its publicly traded parent, Silverado Gold Mines Ltd. For more information,please visit
https://www.silverado.com/.
CONTACT INFORMATION -SILVERADO GOLD MINES LTD.
Mailing Address
Suite 1820 -1111 West Georgia St
Vancouver, British Columbia
Canada V6E 4M3
Telephone: (604) 689-1535
Facsimile: (604) 682-3519
Toll Free:1-800-665-4646
(Canada and USA only)
Trading Symbols
OTCBB - SLGLF
FRANKFURT - SLGL
Investor Relations: E-mail:
ir@silverado.com
Public Relations:E-mail:
pr@silverado.com
Media Relations: E-mail:
jay@silverado.com
ThisNews Release may contain, in addition to historical information, forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities Exchange Act of 1934, as amended.Statements in this news release that are forward-looking statements are based onthe current expectations, beliefs, assumptions, estimates and forecasts aboutthe Company's business and the industry and markets in which it operates. Suchforward-looking statements involve risks and uncertainties regarding the marketprice of gold, availability of funds, government regulations, common shareprices, operating costs, capital costs, outcomes of test mining activities andother factors. Forward-looking statements are made, without limitation, inrelation to operating plans, property exploration activities, including testmining activities, availability of funds, environmental reclamation, operatingcosts and permit acquisition. Any statements contained herein that are notstatements of historical facts may be deemed to be forward-looking statements.In some cases, you can identify forward-looking statements by terminology suchas "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe","estimate", "predict", "potential", or "continue", and the negative of suchterms or other comparable terminology. Actual events or results may differmaterially. In evaluating these statements, you should consider various factors,including the risks detailed in the Company's filings with the CanadianSecurities Authorities and the US SEC. These factors may cause the Company'sactual results to differ materially from any forward looking statement. Exceptas required by applicable securities laws, the Company disclaims any obligationto publicly update these statements, or disclose any difference between itsactual results and those reflected in these statements. Given theseuncertainties, readers are cautioned not to place undue reliance on suchforward-looking statements.
View News Release in PDFFormat
You can also view this News Release on our website at:
https://www.silverado.com/s/NewsReleases.asp?ReportID=312502
Silverado Receives Encouraging Preliminary 2008 Drill Results at NolanCreek
Vancouver, BC, Canada, (July 21, 2008). Silverado Gold MinesLtd. (the "Company" or "Silverado") SLGLF OTCBB, SLGL Frankfurt,
www.silverado.com, announces today that ithas completed 16 drill holes totalling 4,823 ft. as part of its 2008 explorationdrilling at Workman's Bench, the Company's prime exploration target on its NolanCreek property. This year's drilling has extended the known lateral extent ofthe stibnite (antimony)-gold vein systems on Workman's Bench from 600 ft. to1,000 ft.
Visible gold was observed in drill core from holes 08SH1B and08SH08. The Company has also collected four large underground samples ofstibnite and gold mineralized rock from the main vein in Tunnel D, which assayedas high as 2.02 troy ounces of gold per ton, and 40.39% antimony.
Workman's Bench is the Company's prime exploration target for a lodegold and antimony deposit in the southwestern part of the Solomon Shear Zone.The Solomon Shear Zone contains NE striking gold-antimony-quartz vein systemswhich also occur in other areas on the Nolan Creek property, including acrossSmith Creek on Pringle Bench and north of Smith Creek Dome.
This yearsdrilling on Workman's Bench has focused on defining the lateral and verticalextent of the known gold and antimony mineralized zones, in particular on themain exposed vein in underground exploration Tunnels C and D. Information thusfar indicates the gold and antimony mineralized zones at Workman's Bench areopen laterally and at depth. A drill hole location map for these zones can befound on the Company's website on the Nolan Creek project page at
https://www.silverado.com/i/pdf/2008-07-21_Fig1.pdf
TheCompany has received the first assay results for drill holes 08SH01A, 08SH01Band 08SH02, which are presented in the table below. The reader should note thatassay results listed in the table present results of individual veins sampledand cut from the drill core. Assays from some of the veins cut in drill holes08SH1B and 08SH02 are pending, and will be reported upon receipt. Additionalassays for the remaining drill holes are also pending. Drilling continues on theWorkman's Bench Zone, as warranted.
The assay results atWorkman's Bench returned significant antimony grades in drill holes 08SH1B and08SH02. Drill core from hole 08SH1B showed visible gold in one vein. Assays forthat particular interval are still pending. Drill hole 08SH02 intersected themain vein at 186.5 ft to 187.5 ft downhole. The vein has a true width of 5inches, and assayed as high as 37.92% antimony and 0.09 troy ounces of gold perton. Visible, coarse gold was also observed in a stibnite-quartz vein in drillhole 08SH08 at 348 ft to 348.2 ft (See
https://www.silverado.com/i/pdf/2008-07-21_Pic1.pdf )and 380 ft to 381.2 ft downhole.
All drill core was logged andphotographed by Silverado geologists. Once all technical data was derived fromthe core, the core was cut lengthwise. The half-core was sampled bypre-determined intervals based on geology, and placed in sealed sample bagslabelled with the assigned sample number. All samples were delivered to ALSChemex in Fairbanks for analysis. Specific antimony samples of massive stibniteveins were delivered to Alaska Assay Laboratories in Fairbanks for analysis.With the shipment to the laboratories of every 20th sample, the Companysubmitted two (2) standard samples, and one (1) blank sample for analysis. Fromtime to time, the Company instructed the laboratories to assay duplicate samplesof the pulp from the drill core.
Silverado further announces that goldand antimony values from large vein samples collected underground from the mainvein in Tunnel D at four different sample locations assayed as high as 2.02 troyounces gold per ton and 40.39% antimony. These assays confirm the high gradenature of gold and antimony mineralization within the main vein over a length of67 ft in Tunnel D. The stibnite ore samples were delivered to Alaska AssayLaboratories in Fairbanks for analysis. Duplicate samples have also beendelivered to ALS Chemex in Fairbanks for analysis. Duplicate assays arepending.
Dr. Karsten Eden,Certified Professional Geologist, and Vice President Exploration of Silverado,is the qualified person as defined by Canadian National Instrument 43-101 forthe Company and has verified the data contained in this news release.
ABOUT THE COMPANY
The Company is an exploration stagecompany focused on the exploration of gold properties, with some pastproduction, and the development of new environmentally friendly low-rank coalwater fuel technology. The Company has gold properties located throughoutAlaska, which include a 100% interest in numerous mining claims located on theNolan Creek property. The Company is developing low-rank coal water fuel thatwould be produced from low-rank coal and processed into an environmentallyfriendly oil substitute. Silverado Green Fuel Inc. is a wholly owned subsidiaryof its publicly traded parent, Silverado Gold Mines Ltd. For more information,please visit
https://www.silverado.com/.
CONTACT INFORMATION -SILVERADO GOLD MINES LTD.
Mailing Address
Suite 1820 -1111 West Georgia St
Vancouver, British Columbia
Canada V6E 4M3
Telephone: (604) 689-1535
Facsimile: (604) 682-3519
Toll Free:1-800-665-4646
(Canada and USA only)
Trading Symbols
OTCBB - SLGLF
FRANKFURT - SLGL
Investor Relations: E-mail:
ir@silverado.com
Public Relations:E-mail:
pr@silverado.com
Media Relations: E-mail:
jay@silverado.com
ThisNews Release may contain, in addition to historical information, forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities Exchange Act of 1934, as amended.Statements in this news release that are forward-looking statements are based onthe current expectations, beliefs, assumptions, estimates and forecasts aboutthe Company's business and the industry and markets in which it operates. Suchforward-looking statements involve risks and uncertainties regarding the marketprice of gold, availability of funds, government regulations, common shareprices, operating costs, capital costs, outcomes of test mining activities andother factors. Forward-looking statements are made, without limitation, inrelation to operating plans, property exploration activities, including testmining activities, availability of funds, environmental reclamation, operatingcosts and permit acquisition. Any statements contained herein that are notstatements of historical facts may be deemed to be forward-looking statements.In some cases, you can identify forward-looking statements by terminology suchas "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe","estimate", "predict", "potential", or "continue", and the negative of suchterms or other comparable terminology. Actual events or results may differmaterially. In evaluating these statements, you should consider various factors,including the risks detailed in the Company's filings with the CanadianSecurities Authorities and the US SEC. These factors may cause the Company'sactual results to differ materially from any forward looking statement. Exceptas required by applicable securities laws, the Company disclaims any obligationto publicly update these statements, or disclose any difference between itsactual results and those reflected in these statements. Given theseuncertainties, readers are cautioned not to place undue reliance on suchforward-looking statements.
View News Release in PDFFormat
You can also view this News Release on our website at:
https://www.silverado.com/s/NewsReleases.asp?ReportID=312502