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, BC, Canada: February 25, 2008 -
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).
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). 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) 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.
Sample LocationSample NumberGold (g/t)Gold (toz/ton)Antimony (%)
| 1 |
WBUG1 S1 |
0.24 |
0.007 |
46.69 |
| 1 |
WBUG1 S2 |
0.03 |
0.001 |
64.34 |
| 2 |
WBUG2 S1 |
0.26 |
0.008 |
5.67 |
| 3 |
WBUG3 S1 |
23.3 |
0.68 |
52.1 |
| 3 |
WBUG3 S2 |
11.35 |
0.331 |
57.89 |
| 3 |
WBUG3 S3 |
1.07 |
0.031 |
6.09 |
| 3 |
WBUG3 S4 |
15.55 |
0.454 |
55.71 |
| 3 |
WBUG3 S5 |
15.3 |
0.446 |
1.11 |
| 4 |
WBUG4 S1 |
0.44 |
0.013 |
32.52 |
| 4 |
WBUG4 S2 |
0.72 |
0.021 |
0.1 |
| 5 |
WBUG5 S1 |
1.81 |
0.053 |
21.02 |
| 5 |
WBUG5 S2 |
35.8 |
1.044 |
50.04 |
| 5 |
WBUG5 S3 |
1.09 |
0.032 |
13.38 |
| 6 |
WBUG6 S1 |
1.57 |
0.046 |
0.3 |
| 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.
