Silverado Gold Mines Ltd.
Nolan Gold Project – Lode Exploration Progress Report
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Nolan Gold Project – Lode Exploration Progress Report
September 28, 2004 – Vancouver, BC – Canada; Fairbanks, Alaska – USA
SILVERADO GOLD MINES LTD. OTCBB: SLGLF / Frankfurt: SLGL / Berlin: SLGL
A significant gold-arsenic-antimony anomalous trend has been confirmed by
soil sampling during the 2004 lode exploration program on the Nolan Gold
Project, 280 miles by road north of Fairbanks, Alaska. To view map visit:
http://www.silverado.com/proposedtrenches.htm
The ongoing lode program was designed to search for the bedrock source of the
140,000 oz. of placer gold Silverado and others have mined from the Nolan
Creek Valley.
Work in 2004 included 117 organic soil samples, 108 C-horizon soil samples,
75 stream sediment passed concentrate samples and 19 kilometers of VLF-EM
geophysical surveying.
We are mobilizing people and supplies for a trenching program to assess
targets developed by interpreting results from 2004 and previous years. The
Nolan property is mostly covered by five or more feet of permanently frozen
glacial material. Soil samples were taken with a power auger and shipped to
ALS Chemex for standard geochemical analysis including gold, arsenic and
antimony. Arsenic and antimony occur with gold in the known structures on
the Nolan property and are considered to be important “pathfinder” elements.
The anomalous trend in the soil shown on the side view is defined by gold
values from 10 to 35 parts per billion, arsenic form 90 to 860 parts per
million (ppm) and antimony from 35 to 250 ppm. The trend is confirmed by
arsenic in organic horizon soil samples ranging from 80 to 600 ppm.
Assays of panned concentrates from stream sediments showed 37 of 75 samples
containing from 1 to 91.3 ppm gold (0.03 to 3 ounces per ton). Some of these
confirmed the anomalous trend in the soils while others showed additional
areas of the property to be favorable for future follow up.
A ground electromagnetic survey (VLF-EM) was conducted along this trend and
beyond with a Geonics EM-16 and a portable transmitter. The fraser-filtered
results show an electromagnetic conductor pattern coincident with the
geochemical trend and suggestive of a complex shear system. This trend is
coincident with the previously reported “Solomon Shear” trend which was
inferred from airborne geophysics. Drilling by Silverado in 2003 showed the
presence of gold mineralization along this trend accompanied by arsenic and
antimony.
The trenching program will provide further information to aid in positioning
future drill holes. All work has been done under the direction of Edward J.
Armstrong, CPG, President of Silverado’s Alaskan subsidiary and a qualified
person under the guidelines of NP 43-101.
Contact:
Investor Relations Germany
Guido Pickert
(069) 95 92 46-13
E-mail: SLGL@vrir.de
Website: http://www.silverado.com
Investor Relations Canada:
+1 (604) 689-1535
E-mail: pr@silverado.com
end of message, (c)DGAP 28.09.2004
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WKN: 867737; ISIN: CA8279062076; Index:
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281604 Sep 04
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