Silverado Gold Mines Ltd.
SILVERADO GOLD MINE’S NOLAN PROJECT HITS GOLD
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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February 07 – 2006 – Fairbanks , Alaska – USA – Vancouver, BC – Canada
SILVERADO – OTCBB: SLGLF / Frankfurt : SLGL
The crews at our Nolan Gold Project located in Alaska’s Arctic Circle 280
miles north of Fairbanks, have completed the first important leg of the
Swede Channel winter tunneling project. The tunnel has successfully
reached the virgin ground section of the Swede Channel at the bedrock
gravel contact level.
We have encountered gold in the floor of Swede Channel. The frozen pay
gravel is being stockpiled in preparation for thawing and sluicing in June
and July of 2006 to remove the gold for sale.
A bulk sample of 7625 bank cubic yards of gravel was taken from this area
in 1998-1999 and yielded 623 ounces of gold, or 0.08oz/yard.
In prior years Silverado extracted approximately $10 million in jewelry
grade gold from various areas of this large property and the gold sold for
an average premium of 33% over gold price due to the high purity (22.3 to
23.4k or 93% to 97% pure gold) and due to its abundant character.
Please pause here with us for a moment to remember the coal miners who have
so tragically lost their lives recently in America and elsewhere. We also
reflect on how much we appreciate the truly phenomenal work our miners
perform underground through the bitter cold winters of Arctic Alaska, while
using their good work and safety skills to produce gold for the Company and
its shareholders under the professional talent and watchful eye of Mr. Gil
Dobbs, their mine superintendent and leader.
Silverado Gold Mines Ltd.
505 – 1111 W. Georgia Street
Vancouver, B.C. V6E 4M3
T: +1 (800) 665-4646 or (604) 689-1535
F: (604) 682-3519
pr@silverado.com
www.silverado.com
(c)DGAP 07.02.2006
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language: English
emitter: Silverado Gold Mines Ltd.
505-1111 West Georgis Street
V6E 4M3 Vancouver, BC Kanada
phone: 1-800-665-4646
fax: 604-682-3519
email: pr@silverado.com
WWW: www.silverado.com
ISIN: CA8279062076
WKN: 867737
indexes:
stockmarkets: Freiverkehr in Berlin-Bremen, Frankfurt; Foreign Exchange(s)
Nasdaq
End of News DGAP News-Service
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