VANCOUVER, Feb. 20 /CNW/ - (Silverado - OTCBB: SLGLF/Frankfurt: SLGL).
Silverado Gold Mines Ltd. is pleased to announce the release of the Bundtzen
Report. This professional, independent NI 43-101 Report has assessed the
company's activities and resources for 2007, and is subsequent to the 2006
Report also produced by Thomas K. Bundtzen, President of Pacific Rim
Geological Consulting, Inc., (PRGCI) of Fairbanks, Alaska, USA. Mr. Bundtzen
is one of the foremost placer mining consultants in North America, Scandinavia
The following are direct quotes from the Report, which can be found in
its entirety on the Silverado website at
- "The writer regards Silverado as the most competent underground
placer drifting company active in Alaska today."
- "During 2007, Silverado Gold Mines, Ltd. had another successful year
mining placer gold on their Nolan Creek properties."
- "The company produced 3,710.74 ounces of placer gold, the majority of
which is the typical coarse nugget gold derived from Nolan Creek
- "With premium gold bullion and nugget jewelry prices available, the
writer estimates that $4.0 million in gold was produced."
- "The actual production was more than twice the amount forecasted by
the writer last year (Bundtzen, 2006)."
- "During 2006-2007, Silverado Gold Mines Ltd. completed a highly
successful underground placer gold mining project on Swede Channel
and Mary's East deposit."
- "The radiocarbon age dates from placer deposit imply that there has
not been much time between erosion of the hardrock gold source to
creation of the placer"...."Hence the lode source creating the
placers may be more-or-less intact. Secondly, the Mary's East deposit
is a colluvial deposit with very coarse gold, which implies that the
lode source is very proximal to this area."
- "The Workman's Bench project constitutes an important component of
Silverado's plans to mine and ship stibnite concentrates. The company
has had experience in the antimony market from their property on
Eagle Creek, in the Fairbanks (Mining District). Their Scrafford
property (near Fairbanks) was once one of the largest domestic
sources of antimony. Silverado is planning on taking advantage of the
relatively high prices of antimony to pursue this activity."
Silverado Gold Mines Ltd.
Silverado Gold Mines Ltd. has already secured $5,000,000 for its 2008
exploration plans. See - Feb 14, 2008 - "With All Financing In Place,
Silverado To Launch $5,000,000 Nolan Creek 2008 Exploration Program"
Silverado's twelve square mile, 100% owned Nolan Property has yielded
over $15 million in gold. This was produced during past Silverado test mining
activities. The area, over its pre-Silverado historical 'gold rush mining',
produced 120,000 oz of gold, and generated a 136 oz gold nugget, the second
largest ever found in Alaska. Silverado discovered the tenth largest gold
nugget, at 41 oz. See - http://www.silverado.com/projects/nolan/.
Silverado's Nolan property includes infrastructure built, and paid for, a
24 person accommodation, machine shop, heavy equipment and maintenance
facilities. With all permits in place, Silverado has recently invested
$1 million for specialized underground exploration and mining equipment.
Further underground exploration of the Workman's and possibly Pringle Benches
will be dependent 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. Silverado had already discovered 93-97% pure gold nuggets
in these areas.
"Exploration Drilling On Workman's Bench At Nolan Creek Reveals Gold
Grades Up To 0.55 Toz/Ton And 34.51% Antimony. Gold And Antimony
Mineralization Now Extends From North End Of 700' Long Pringle Bench Area To
The South End Of Workman's Bench Area, A Distance Of 1300 Feet" (Jan 14, 2008)
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.
Trading Symbols, OTCBB - SLGLF, FRANKFURT - SLGL
Suite 1820 - 1111 West Georgia Street, Vancouver, British Columbia,
Canada V6E 4M3, Telephone: (604) 689-1535, Facsimile: (604) 682-3519
To learn more about Silverado Green Fuel Inc. and watch the Green Fuel
Video, visit: www.silveradogreenfuel.com.
Silverado Gold Mines Ltd. www.silverado.com
More Information? http://www.silverado.com/investors/request/
This Press Release may contain, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements are based on management's expectations and
beliefs, and involve risks and uncertainties. These statements may involve
known and unknown risks and uncertainties and other factors that may cause the
actual results to be materially different from the results implied herein.
Readers are cautioned not to place undue reliance on the forward-looking
statements made in this Press Release.
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