Assay Results from Underground Exploration Program at Workman's Bench Reveal Gold Grades as High as 1.04 toz/ton, and Antimony Grades up to 64.34%
VANCOUVER, Feb. 25 /CNW/ - Silverado Gold Mines Ltd. - (OTCBB: SLGLF /
Frankfurt : SLGL) announced today that underground exploration on Workman's
Bench, the company's prime exploration target for a lode gold and antimony
deposit in the southwestern part of the extensive Solomon Shear Zone, has
disclosed high grade gold and antimony mineralization. Gold and antimony
values from samples collected from individual veins assayed as high as 1.04
troy ounces gold per ton (35.8 g/t Au) and 64.34% antimony (See Map
http://www.silverado.com/i/pdf/NolanCreekGoldProjectViewMapFeb2408.pdf).
During winter 2007/08, Silverado Gold Mines drove an exploration tunnel
into the Workman's Bench mineralized zones to intersect the gold bearing
antimony-quartz vein systems. During this first phase underground exploration
program, numerous quartz and antimony-quartz veins were exposed. To date three
main mineralized zones have been identified through the correlations between
the underground observations with the drill intercepts from the 2007 Workman's
Bench drilling program (See Map
http://www.silverado.com/i/pdf/NolanCreekGoldProjectViewMapFeb2408.pdf). The
Workman's Bench mineralized zones have been confirmed over a strike length of
600 feet. They are well defined and contain antimony and gold bearing veins
each of which are generally larger in width (up to one foot) than at the other
drilled gold and antimony prospects (the Hillside and Pringle Bench) within
the Solomon Shear Zone. This is not only evidenced by drilling, but also by
underground and surface observations. The gold and antimony mineralized zones
at Workman's Bench are open laterally and at depth.
A total of 28 samples from quartz and antimony-quartz veins exposed in
the mineralized zones underground (See Map
http://www.silverado.com/i/pdf/NolanCreekGoldProjectViewMapFeb2408.pdf) were
collected at 12 sample locations, and were sent to ALS Chemex in Fairbanks for
analysis. Assay results for sample locations 1 to 6 have been received and are
presented in Table 1. Results from the remaining samples from sample location
7 to 12 will be presented upon receipt of assays.
Table 1: Gold and Antimony values for samples collected at sample
locations 1 to 6.
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Sample Gold Gold Antimony
Location Sample Number (g/t) (toz/ton) (%)
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1 WBUG1 S1 0.24 0.007 46.69
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1 WBUG1 S2 0.03 0.001 64.34
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2 WBUG2 S1 0.26 0.008 5.67
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3 WBUG3 S1 23.30 0.680 52.1
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3 WBUG3 S2 11.35 0.331 57.89
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3 WBUG3 S3 1.07 0.031 6.09
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3 WBUG3 S4 15.55 0.454 55.71
-------------------------------------------------------------------------
3 WBUG3 S5 15.30 0.446 1.11
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4 WBUG4 S1 0.44 0.013 32.52
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4 WBUG4 S2 0.72 0.021 0.1
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5 WBUG5 S1 1.81 0.053 21.02
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5 WBUG5 S2 35.80 1.044 50.04
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5 WBUG5 S3 1.09 0.032 13.38
-------------------------------------------------------------------------
6 WBUG6 S1 1.57 0.046 0.3
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6 WBUG6 S2 0.54 0.016 0.08
------------------------------------------------------------------------
Gold and antimony values from samples collected from individual veins at
various points between sample locations 1 to 6 assayed as high as 1.04 troy
ounces gold per ton (35.8 g/t Au) and 64.34% antimony. These assays confirm
that high grade gold and antimony mineralization occurs in the Workman's Bench
mineralized zones. Silverado Gold Mines plans to conduct a channel sampling
program in the existing exploration tunnels, where defined channel samples
will be cut across the mineralized zones.
Workman's Bench is part of the Solomon Shear Zone that contains NE
striking gold-antimony-quartz vein systems. These vein systems occur not only
on Workman's Bench, but also across Smith Creek to Pringle Bench, further up
on the Hillside, and have also been located north of Smith Creek Dome.
The NE striking gold-antimony-quartz-vein system represents the
borderline between mesothermal (medium temperature) and epithermal (low
temperature) mineralization. Several authors place the gold-antimony quartz
vein systems in the southern Brooks Range in the lower temperature part of the
mesothermal vein type deposit system. Mesothermal vein deposits represent some
of the most important producing gold deposits worldwide.
In the Nolan Creek area, gold and antimony grades within the
gold-antimony-quartz vein system increase with depth, as indicated by
drilling. The highest antimony and gold grades of all three drilled prospects
(Workman's Bench, Pringle Bench and the Hillside) within the Solomon Shear
Zone are found at Workman's Bench, which represents the lower drilled part of
the geologic section of the gold and antimony mineralized system.
Silverado Gold Mines is planning an extensive drilling program at
Workman's Bench to define the gold and antimony mineralization at depth over a
strike length of 1,500 feet from Smith Creek, down to the Nolan landing strip.
Once this program is completed, drilling will continue on Pringle Bench. The
drilling program at Pringle Bench will be designed to intersect the gold and
antimony mineralized zones at the Workman's Bench level. The gold and antimony
mineralized zones at Workman's Bench and Pringle Bench are both open laterally
and at depth.
Further underground exploration of the Workman's and possibly Pringle
Benches will be dependant on completion of current assays combined with the
assay data gained from this spring and summer's drilling program as well as
full channel samples to be cut in the Workman's Bench mineralized zone upon
commencement of the drill program.
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.
Contact Information - Silverado Gold Mines Ltd.
Silverado is an international company focused on gold exploration, and a
new environmentally friendly Fuel Technology. Silverado has gold properties
located throughout Alaska which include the 100% owned Nolan Placer Gold Mine.
Trading Symbols - OTC BB - SLGLF, FRANKFURT - SLGL. Silverado Gold Mines Ltd.
www.silverado.com
Suite 1820 - 1111 West Georgia Street, Vancouver, British Columbia,
Canada V6E 4M3, Telephone: (604) 689-1535, Facsimile: (604) 682-3519
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Video, visit: www.silveradogreenfuel.com
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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
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actual results to be materially different from the results implied herein.
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