Silverado Gold Mines Ltd. - The Geophysically and Geochemically Indicated Lode Source of Nolan Gold Nuggets to be Drilled
PR Newswire - October 22, 2003 09:00
SILVERADO GOLD MINES LTD.
OTCBB: SLGLF / Frankfurt: SLGL / Berlin: SLGL
VANCOUVER, BC, FAIRBANKS, AK, Oct. 22 /PRNewswire-FirstCall/ - All gold assay results received from soil samples overlying the three mile (5 km) long Solomon's Shear zone including its extensions have now been received by the Company. They are represented on the accompanying map as lines comprised of colored circles; each circle representing a sample, all of which contain gold. They were taken across the Shear zone at nine separate line locations. Arsenic and antimony are also present in the same soils and along with airborne resistivity data indicate Solomon's Shear represents a structurally altered body of rock containing gold.
Equally significant is the fact that Silverado has removed some 15,000 ounces of gold from areas downhill from the shear zone. These areas are drawn in orange. Also, historic production discloses some 200,000 ounces of gold taken from the drainages of Nolan, and Silverado's nearby Hammond River Area. Most of this gold was taken from the deeper portion of Nolan Valley between Archibald and Smith Creeks, which is situated below Solomon's Shear.
The roads are being cut to the Solomon's Shear now, to facilitate access for the Reverse Circulation drill which will begin drilling soon. We intend to drill through winter with the objective of determining whether the shear zone represents an economic lode gold deposit. The map may be viewed on our website at http://www.silverado.com/releaseoct21_03.htm
To see photographs of gold recently recovered; and the drills arrival on the Nolan property go to http://www.silverado.com/interactive.htm
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. Key factors that could cause actual results to differ materially from those described in forward-looking statements are:
(i) the ability of the Company to complete its planned mining
activities during the current mining season;
(ii) the impact of weather on the Company's mining operations;
(iii) the ability of the Company to process the mined ore during summer
season;
(iv) the concentrations of gold recovered from processed ore.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
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