Silverado Gold Mines Ltd.
Silverado Gold Mines Ltd.: HIGH GRADE GOLD DISCLOSED DURING NOLAN LODE EXPLORATION PROGRAM
Silverado Gold Mines Ltd. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- HIGH GRADE TREND APPEARS TO BE DEVELOPING AUGUST 13, 2007- Fairbanks , Alaska – USA - Vancouver, BC – Canada SILVERADO - OTCBB: SLGLF / Frankfurt : SLGL / Berlin : SLGL Silverado announces that backhoe trenching during the continued exploration of the five-mile long Solomon Shear zone on it’s Nolan Gold Mine located 280 miles North of Fairbanks, Alaska, has disclosed a 16.4 foot (5 m) continuous chip sample grading 5.22 ounces per ton (179 grams) gold, and 8.74% antimony by ore assay. Due to the exceptionally high content of gold assayed, a second sample was successfully re-assayed at the ALS Chemex Lab confirming this high value. In addition to the high gold assay found in trench H, high antimony values were also found. Significant gold values were found in all of H, G and J trenches. The antimony values reached as high as 30%. These high antimony values are consistent with the previous work in this vicinity where sampling showed antimony assays as high as 46% (see press release January 29, 2007). Solomon Shear is a highly mineralized gold-bearing system that extends over five miles on Silverado’s Nolan property. It has been the focus of Silverado’s extensive exploration program, which includes geophysical and geochemical surveys in addition to the trenching program. All of Silverado’s 'downstream' placer gold recoveries indicate likely sources higher in the Solomon Shear system. The company is just in the beginning stage of exploring these possible source areas. Silverado Gold Mines is very pleased with these results and we continue to expand on our knowledge of this discovery. Old time miners and Silverado combined have removed more than 140,000 ounces of gold nuggets and dust from the lower benches of Smith Dome and below Solomon’s Shear. Our 2006 trench and drill results confirmed the existence of high-grade gold-antimony-quartz veins in the Solomon Shear. Our highest assay reading from 2006 was 0.83 ounces per ton (see press release January 22, 2007). Now, we are encountering suspected source materials that have assayed considerably higher than those from 2006. This recently discovered high-grade area is under current exploration by further trenching and an extensive drilling program. This drilling, using our recently purchased diamond drill, will begin shortly and continue as long as weather permits. In June and July 2007, Silverado Gold Mines conducted backhoe trenching on its Nolan Creek property, totaling 328m (1076.12ft), to further investigate the gold bearing antimony-quartz vein systems previously identified in 2006 (see press releases from July 16, 2007, January 29, 2007 and January 22, 2007). A total of 107 combined select chip and continuous chip rock samples were collected during the trenching program and submitted to ALS Chemex in Fairbanks for analysis. To date, Silverado Gold Mines has received the assays for three of the four trenches. Trench G extends over 72.5m (237.86ft) and is located 25 meters northeast of Trench F (see Fig. 1 -http://www.silverado.com/august082007/figure1.htm ). A total of 18 combined select chip and continuous chip rock samples were collected during the trenching program. Sample interval 50-55m (16.4 feet) contains 4.31% antimony (Sb). A select sample of an antimony vein from within this interval assayed 24.60% (see Table 1). Table 1: Trench G assay results greater than 0.3 g/t Gold or 0.15% Antimony. TRENCH G - 72.5m The table cannot be shown properly. Please go to www.silverado.com http://www.silverado.com/august082007/figure1.htm ). A total of 6 combined select chip and continuous chip rock samples were collected during the trenching program. Sample interval 5-10m contains 2.62% antimony (Sb) and 0.02 troy ounces of gold per ton. Sample interval 10-15m was assayed with 5.22 troy ounces per ton of gold and 8.74% antimony (see Table 2). This interval was re-assayed for gold by ALS Chemex and yielded 5.04 troy ounces per ton of gold. A select sample of an antimony vein from within this interval was assayed with 0.11 troy ounces per ton of gold and more than 1% Sb (total Sb analysis is pending). Intervals 5-10 and 10-15 are currently being further investigated by Silverado exploration geologists as the data obtained to date appears to indicate the possibility of a high grade trend. Table 2: Trench H assay results greater than 0.3 g/t Gold or 1% Antimony. TRENCH H - 25m The table cannot be shown properly. Please go to www.silverado.com Trench J (Workman’s Bench Trench), 38m (124.7ft) in length, was dug south of Smith Creek, in the old Workman’s Bench pit, located within in the south-westward extension of the Solomon Shear trend. This trench exposed the largest antimony veins discovered in the area to date, with widths up to 24 cm (9.8 inch). A total of 15 continuous chip rock samples (2.5m composite) were collected during the trenching program. Out of these 15 samples, 7 show antimony values from 1.7% to 30.3% (see Table 3). 5 samples show values higher than 0.01 ounces per ton gold, ranging from 0.01 to 0.12 ounces per ton gold. Table 3: Trench J (Workman’s Bench) assay results greater than 0.04 g/t Gold or 1% Antimony. Trench J (Workman's Bench) - 38m The table cannot be shown properly. Please go to www.silverado.com 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. About Silverado 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 also entering 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. For more information about Silverado Green Fuel Inc., please visit http://www.silveradogreenfuel.com and the parent public corporation, http://www.silverado.com. Value Relations GmbH Tel.: 069-9592490 E-mail: SLGL@vrir.de DGAP 13.08.2007 ---------------------------------------------------------------------- Language: English Issuer: Silverado Gold Mines Ltd. 505-1111 West Georgis Street V6E 4M3 Vancouver, BC Kanada Phone: 1-800-665-4646 Fax: 604-682-3519 E-mail: pr@silverado.com Internet: www.silverado.com ISIN: CA8279062076 WKN: 867737 Indices: Listed: Freiverkehr in Berlin; Open Market in Frankfurt; Foreign Exchange(s) Nasdaq End of News DGAP News-Service ---------------------------------------------------------------------------
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