Silverado Announces 2nd Installment of Nolan Creek Assay Results
Silverado Announces 2nd Installment of Nolan Creek Assay Results
Sep. 22, 2009 (GlobeNewswire) --
VANCOUVER, British Columbia, Sept. 22, 2009 (GLOBE NEWSWIRE) -- Silverado Gold Mines Ltd. (OTCBB:SLGLF) (Frankfurt:SLGL) (www.silverado.com) (the "Company" or "Silverado") is pleased to release the second installment assay results from the 2009 drill program from the Company's Nolan Creek property in Alaska.
The results are from the Pringle Bench section of the Solomon Shear Zone (see news release of September 3rd and 4th, 2009 on website). Gold and antimony grades in the southern portion of Pringle Bench near Smith Creek are comparable to past results and are significant.
Progression of drilling in a northeast direction along the strike of the Pringle Bench mineralized zone intersected an area of trenching where previous surface samples assayed 5.22 ounces per ton gold (opt) across 16.4 feet, (see press release of May 1, 2009). In this location, drill hole 09SH18 intercepted a one foot thick section of quartz-stibnite mineralization (0.8 feet true width), assaying 5.72 opt and 37.73 percent antimony.
Please see "Summary Table of Pringle Bench Drilling, August-September 2009" at http://www.silveradoweb.com/i/sep22-01_lg.jpg.
Further analytical results from drill intervals and surface channel sampling of the Pringle Bench and Workman's Bench antimony-gold deposits will be released upon receipt from the selected, certified, commercial laboratory.
Qualified Person
The technical information that is released in this news release has been reviewed by Thomas K. Bundtzen, P. Geo BS MS CPG-10912, ABSLN #279639, President of Pacific Rim Geological Consulting, Inc., of Fairbanks, Alaska, who is independent of the Company as defined by NI 43-101. Bundtzen is a Certified Professional Geologist with the American Institute of Professional Geologists (AIPG). Bundtzen is the Qualified Person as defined in NI 43-101 and also qualifies under the rules stated by the U.S. Securities and Exchange Commission (SEC), and has verified the data contained in this news release for accuracy. The disclosure requirements of 3.2 and 3.3 of NI 43-101 are addressed in a previously filed report entitled "January 1, 2009 NI 43-101 Pre-Feasibility Study for Nolan Creek (Amended June 1, 2009)." Sampling and Quality Assurance/Quality Control (QAQC) procedures deployed during the core drilling and surface sampling programs follow those outlined in Silverado's NI 43-101 Prefeasibility Study of the Workman's Bench Antimony Gold deposit, Amended June 1, 2009, which is available at www.sedar.com and on the company website at www.silverado.com.
About the Company
Silverado Gold Mines Ltd., a publicly traded company, is an exploration-stage enterprise focused on the exploration of gold properties with some past production. The Company has gold properties located throughout Alaska, which include a 100 percent (100%) interest in numerous mining claims located on the Nolan Creek property.
Forward-Looking Statements
This news 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. Statements in this news release that are forward-looking statements are based on the current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates.
Such forward-looking statements involve risks and uncertainties regarding the market price of gold, availability of funds, government regulations, common share prices, operating costs, capital costs, outcomes of test mining activities and other factors. Forward-looking statement are made, without limitation, in relation to operating plans, property exploration activities, including test mining activities, availability of funds, environmental reclamation, operating costs and permit acquisition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", or "continue", and the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, you should consider various factors, including the risks detailed in the Company's filings with the Canadian Securities Authorities and the US SEC. These factors may cause the Company's actual results to differ materially from any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
CONTACT: Silverado Gold Mines Ltd.
(604) 689-1535
ir@silverado.com
www.silverado.com
1820-1111 West Georgia Street
Vancouver, BC V6E 4M3
Source: GlobeNewswire (September 22, 2009 - 9:01 AM EDT)
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