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Press Release Source: Silverado Gold Mines Ltd.
Exploration drilling on Workman's Bench at Nolan Creek reveals gold grades up to 0.55 toz/ton and 34.51% antimony
Monday January 14, 5:30 am ET
GOLD AND ANTIMONY MINERALIZATION NOW EXTENDS FROM NORTH END OF 700' LONG PRINGLE BENCH AREA TO THE SOUTH END OF WORKMAN'S BENCH AREA, A DISTANCE OF 1300 FEET
VANCOUVER, Jan. 14 /PRNewswire-FirstCall/ - Silverado Gold Mines Ltd.(Trading Symbols, OTC BB - SLGLF, FRANKFURT - SLGL) announced today the results from its diamond core drilling at Workman's Bench on its Nolan Creek property, in the Brooks Range, Alaska. This first phase exploration drilling program was carried out to drill test the previously identified gold-antimony quartz vein systems. Workman's Bench is part of the five mile long gold and antimony mineralization containing Solomon Shear Zone which is presently the main exploration focus of Silverado's lode exploration program at Nolan Creek.
Figure 1: Please see map
(www.silverado.com/i/pdf/2008-01-14_NRM.pdf)
Highlights of the Workman's Bench 2007 drilling program include:
- 19 feet grading 2.69 g/t (0.08 toz/ton) gold and 3.24% antimony in
hole 07SH01. This includes 6 feet grading 6.55 g/t (0.19 toz/ton)
gold and 8.81% antimony.
- 11.4 feet grading 1.96 g/t (0.06 toz/ton) gold and 4.99% antimony in
hole 07SH14.
- 5 feet grading 1.95 g/t (0.06 toz/ton) gold and 3.45% antimony in
hole 07SH015. This includes 0.5 feet grading 19 g/t (0.55 toz/ton)
gold and 34.51% antimony.
The drill sample results at Workman's Bench show significant gold and antimony grades with significant thickness in a defined zone, named the "main zone".
Seven holes, totalling 2149 feet, were drilled in the fall of 2007 to test the previously discovered gold bearing antimony-quartz veins in Workman's Bench for potential gold and antimony mineralization along strike and down-dip.
Drilling revealed a main zone that contains significant gold and antimony drill intersections (see Figure 1). Silverado Gold Mines is currently in the process of driving a tunnel into the Workman's Bench mineralized zone to intersect the main zone that contains the gold bearing antimony-quartz veins. The underground exposure of the mineralized zone will play an important key role for the company in obtaining a better understanding of the nature of the structurally controlled gold and antimony mineralization in the Solomon Shear Zone. This will significantly support Silverado's exploration strategy.
The following table provides a listing of mineralized intersections from the 2007 Workman's Bench drilling program:
--------------------------------------------------
Drill Hole 07SH01
201-212 ft 11 ft @ 0.97 g/t Au (0.03 toz/ton Au) & 1.41 % Sb
223.5-242.5 ft 19 ft @ 2.69 g/t Au (0.08 toz/ton Au) & 3.24 % Sb
This includes 6 ft @ 6.55 g/t Au (0.19 toz/ton Au)
& 8.81 % Sb
301-304 ft 3 ft @ 3.94 g/t Au (0.11 toz/ton Au)
--------------------------------------------------
Drill Hole 07SH13
128-139 ft 11 ft @ 0.86 g/t Au (0.03 toz/ton Au) & 0.04 % Sb
196-200 ft 4 ft @ 1.47 g/t Au (0.04 toz/ton Au) & 3.37 % Sb
--------------------------------------------------
Drill Hole 07SH14
161.6-172 ft 11.4 ft @ 1.96 g/t Au (0.06 toz/ton Au) & 4.99 % Sb
192-199 ft 7 ft @ 1.05 g/t Au (0.03 toz/ton Au) & 0.76 % Sb
202-209.6 ft 7.6 ft @ 1.40 g/t Au (0.04 toz/ton Au) & 0.99 % Sb
222-232 ft 10 ft @ 1.48 g/t Au (0.04 toz/ton Au) & 0.20 % Sb
240-247 ft 7 ft @ 0.17 g/t Au (0.00 toz/ton Au) & 0.59 % Sb
--------------------------------------------------
Drill Hole 07SH15
24-27 ft 3 ft @ 0.53 g/t Au (0.02 toz/ton Au) & 0.91 % Sb
192-202.8 ft 10.8 ft @ 2.23 g/t Au (0.07 toz/ton Au) & 1.13 % Sb
222-232 ft 10 ft @ 0.81 g/t Au (0.02 toz/ton Au) & 0.05 % Sb
242-247.8 ft 5 ft @ 1.95 g/t Au (0.06 toz/ton Au) & 3.45 % Sb
This includes 0.5 ft @ 19 g/t Au (0.55 toz/ton Au)
& 34.51 % Sb
282-289.6 ft 7.6 ft @ 0.35 g/t Au (0.01 toz/ton Au) & 0.01 % Sb
--------------------------------------------------
Drill Hole 07SH16
238.1-245.8 ft 7.7 ft @ 0.54 g/t Au (0.02 toz/ton Au) & 1.79 % Sb
--------------------------------------------------
Drill Hole 07SH18
46.5-53.5 ft 7 ft @ 1.02 g/t Au (0.03 toz/ton Au) & 1.24 % Sb
88-90 ft 2 ft @ 0.87 g/t Au (0.03 toz/ton Au) & 0.05 % Sb
--------------------------------------------------
All drill core was logged and photographed by Silverado geologists. Once all technical data had been derived from the core, the core was cut lengthwise. The half-core was sampled by pre-determined interval based on geology, and placed in sealed sample bags labeled with the assigned sample number. All samples were delivered to ALS Chemex in Fairbanks for analysis. A sample quality control/quality assurance program was implemented, and results of the program determined to be acceptable.
This press release was prepared by Dr. Karsten Eden, Certified Professional Geologist; who is a qualified person as defined under the standards of Canadian National Instrument policy 43-101.
Silverado Gold Mines Ltd.
Silverado is an international company focused on Gold and a new environmentally friendly Fuel Technology. Silverado has gold properties located throughout Alaska which include the 100% owned Nolan Placer Gold Mine. Silverado is planning the construction phase of an environmentally friendly low cost strategic fuel demonstration facility. Silverado's Green Fuel will be produced from low-rank coal and turned into a environmentally friendly oil substitute. Silverado Green Fuel Inc. is a wholly owned subsidiary of its publicly traded parent, Silverado Gold Mines Ltd. Trading Symbols, OTC BB - SLGLF, FRANKFURT - SLGL
Silverado Gold Mines Ltd. www.silverado.com
Silverado Green Fuel Inc.(website and Green Fuel Video) www.silveradogreenfuel.com
More Information ? www.silverado.com/investors/request/
This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
CONTACT: Suite 1820 - 1111 West Georgia Street, Vancouver, British Columbia, Canada, V6E 4M3, Telephone: (604) 689-1535, Facsimile: (604) 682-3519; Investor Relations: E-mail: ir@silverado.com; Public Relations: E-mail: pr@silverado.com; Media Relations: jay@silverado.com; Toll Free: 1-800-665-4646 (Canada and USA only)
Source: Silverado Gold Mines Ltd.
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