Silverado Gold Mines Ltd.
Silverado Gold: placer gold concentration indicated through drilling
Corporate-news transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
June 29, 2005 – Vancouver, BC – Canada – Fairbanks, Alaska – USA
SILVERADO GOLD MINES LTD. OTCBB: SLGLF / Frankfurt: SLGL / Berlin: SLGL
Visit this URL to view supplementary images to this press release:
http://www.silverado.com/nolan
Drilling within a section of upper Nolan Creek, near it’s confluence with Fay
Creek, has revealed a significant concentration of placer gold. Drilling of
this area in 1981, 1993, 1994, and 2003 has indicated the presence of a drill
indicated mineral resource of 2081 ounces of placer gold. Cost analysis
studies are underway to determine the feasibility of open cut excavation of
the deposit during the winter months while the ground is frozen followed by
stockpiling the gravel for processing during the summer months. The
concentration of gold is associated with alluvial outwash where Fay Creek
dumps into Nolan Creek. Silverado has successfully recovered 1320 ounces of
placer gold from past mining along Fay Creek. Fay Creek drains into Nolan
Creek where the proposed excavation is outlined on the accompanying maps.
Silverado has been exploring, developing and test mining gold deposits in
Alaska since 1978. The Company uses its varied technical skills to acquire,
assess and develop gold deposits with the intention of conducting test mining
operations on worthy targets. From time to time partnerships or options are
negotiated with other companies to assist in exploration of large areas of
prospective property.
Silverado’s wholly owned Alaska subsidiary, Silverado Green Fuel Inc. is
working on the development of a coal-based fuel which acts as an industrial
alternative to oil and can replace a barrel of oil at a cost of production of
approximately US $14 per barrel. This fuel will be used for the generation of
electricity and industrial heat. This is an environmentally friendly fuel and
if spilled it quickly breaks down into its components of water and coal
particles.
Contact:
Value Relations GmbH
Tel.: +49 (69) 95 92 46-13
E-mail: SLGL@vrir.de
End of announcement (c)DGAP 29.06.2005
——————————————————————————
WKN: 867737; ISIN: CA8279062076; Index:
Listed: Freiverkehr in Berlin-Bremen, Frankfurt; NASDAQ
291700 Jun 05
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden