http://www.pcquote.com/stocks/newswire/7208335/
VANCOUVER, May 5 /PRNewswire-FirstCall/ - Silverado Gold Mines Ltd., and
its wholly owned subsidiary, Silverado Green Fuel Inc. (Trading Symbols, OTC
BB - SLGLF, FRANKFURT - SLGL).
News from Silverado's Mine Manager at Workman's Bench, Nolan Creek Site:
--------------------------------------------------
With a late winter thaw in Alaska, Silverado has assembled its team, and
readied all of its equipment and supplies for an anticipated season of
exploration and development. The first target zone, as defined by drilling,
tunnelling, surface mapping and sampling, contains multiple, thin, steeply
dipping, quartz-sulfide veins and veinlets over an overall true width ranging
from 95-105 feet. Within that mineralized zone, one vein contains a 0.4-to-1.1
foot thick (average=0.6 foot) band of stibnite (antimony sulphide) that
contains appreciable gold.
News from Tom Bundtzen, Mining Consultant:
------------------------------------------
Thomas K. Bundtzen is President of Pacific Rim Geological Consulting,
Inc., of Fairbanks, Alaska, USA. Mr. Bundtzen is a well-known placer and
lode-mining consultant active in North America and Eastern Russia. During
April, Bundtzen supervised the collection of 30 chip-channel samples and a
large bulk sample from the quartz-sulfide vein stockwork and from a massive
stibnite-bearing vein-fault system, respectively. Bundtzen's preliminary
'Draft Field Report' (April 22, 2008) contains exploration maps and
operational photos, as well as photos of stibnite veins and semi massive
quartz-stibnite-gold veins, and confirms the high gold and antimony content
assay results reported by first phase, independent laboratory testing.
In an effort to better quantify the mineral discoveries at Nolan Creek,
specifically within a 500 foot long by 225 foot (vertical) area of the
Workman's Bench, part of the Solomon Shear, Silverado has contracted Thomas K.
Bundtzen to prepare a preliminary resource estimate. The resource estimate
will be based on: 1) underground chip and channel sampling conducted by
Bundtzen; 2) on assayed mineralized zones within drill hole intercepts; 3) on
evaluation of polished thin sections from mineralized zones; and 4) on
microprobe determinations. Silverado assay sample data will also be
incorporated into the estimate. A bulk sample from the mineralized stibnite
zone is being prepared for shipment to a metallurgical test facility outside
of Alaska.
Please see Bundtzen's preliminary 'Draft Field Report' (dated April 22,
2008)http://www.silverado.com/...ngandresourceEvaluationProgram042208.pdf,
and a semi-massive stibnite vein mineralization photo at
http://www.silverado.com/i/pdf/photo001V2.pdf.
The April 22, 2208 draft report will be followed shortly by a
resource/mineralization valuation, also to be prepared by Pacific Rim
Geological Consulting, Inc. (PRGCI), which provides third party reports and
assessments, in conformity with professional and NI 43-101 guidelines, with
consulting fees paid by the company.
Antimony News from Silverado Management:
----------------------------------------
The initial report of Thomas K. Bundtzen received on April 22nd, 2008
confirms Silverado's observations in the Workman's Bench system. The tunnel on
the 80 foot level has identified a stibnite-quartz vein that contains 80
percent stibnite and 20 percent quartz. Both surface and subsurface data
indicates that the mineralized zone on Workman's Bench can be traced for 500
feet along strike and to a minimum depth of about 225 feet. Hence 500 ft X 225
ft X 0.6 ft = 16,875 tons of inferred stibnite resources with a calculated
unit worth of $41.2 million USD ($1.22/lb for massive stibnite ore) of
in-place, inferred antimony resource. The in-place antimony resource estimate
presented above includes only a single vein system in that portion of
Workman's Bench that has been explored by surface and underground exploration
techniques. There are three additional zones of semi-massive, stibnite-bearing
veins in the Workman's Bench mineralized zone. Additional drilling, inferring
logical extensions to Pringle Bench to the Northeast could add to this
in-place, antimony resource estimate.
Gold News from Silverado Management:
------------------------------------
Massive stibnite contains up to 35 grams/tonne (1.13 oz/ton) gold;
however, an inferred gold resource is not calculated here, but will be
estimated when final gold assay results are received from the submitted
samples collected in April, 2008.
Please see semi-massive stibnite vein mineralization photo from Tom
Bundzten's Preliminary Field Report of April 22, 2008, at
http://www.silverado.com/i/pdf/photo001V2.pdf.
News from Silverado Shareholders:
---------------------------------
"There seems to be a 'buzz' around Fairbanks being reported by
shareholders, that Silverado is 'onto something significant'. We have heard
this from a number of sources. That's generally a pretty good sign." - Bob
Dynes, Investor Relations
U.S. Presidential Race News:
----------------------------
On 'Good Morning America' (April 29/08), U.S. Presidential candidate
Senator Hillary Clinton stated that she would seek $150 billion for alternate
fuel development, including coal-to-liquid fuel. She further recognized that
ethanol was depleting the world's food supply, and, as such, was not a long
term energy solution.
News from Silverado Green Fuel:
-------------------------------
With anticipated Green Fuel production costs at $20/equivalent oil barrel,
and oil prices exceeding $115/barrel, Silverado's Green Fuel initiative is
well positioned. See www.silveradogreenfuel.com.
Silverado in the Media:
-----------------------
Equities Magazine, Special Mining Edition (May 1, 2008) includes a full
page highlighting the results of the recent "Melman Report" on Silverado.
(Silverado Gold Mines Ltd.): - The Melman Report concluded that, "given
typical market valuation of 10 to 20 times earnings for mining shares", should
Silverado succeed in its gold exploration, and subsequent production
("...which appears to be possible given their current placer operations,
exploration work and resources indicated in the Bundtzen Report..."), then
"the shares would have the potential to move to the region of 40 cents to 80
cents ($0.40 - $0.80) - or a multiple of eight to sixteen times the current
price."
(Silverado Green Fuel Inc.): - "In addition to its mining activities,
Silverado is also involved in developing its subsidiary company, Silverado
Green Fuel Inc. www.silveradogreenfuel.com The fuel is referred to as
"Low-Rank Coal-Water Fuel" (or "Green Fuel") and is designed to be used in
oil-designated boilers and advanced combustion and gasification systems. The
economics of Green Fuel are intriguing because engineers estimate that it can
be produced for a total cost of about US$20 per barrel, compared to the world
market price for Crude Oil which is quoted at above US$110 per barrel as of
early April, 2008. Although it is difficult to place a valuation on the Green
Fuel portion of Silverado's future, the economics of that venture could add
substantially to their potential valuation."
See Report and Disclaimers
(http://www.silverado.com/pressroom/articles/16042008.htm).
News from Gold Market Experts:
------------------------------
"I have heard from reputable sources that U.S. hedge funds have a trade
on in which they have shorted juniors against senior gold stocks."..."It was
further suggested that a lot of the shorting of juniors was naked (i.e.
selling short without bothering to borrow the stock). If this is indeed true,
and the gold price performs as I expect, there will be a day of reckoning for
the shorts and an explosive move in the juniors. Considering how cheap they
are currently, that would be more than appropriate." - John Emery, Investor's
Digest, April 18, 2008
News from Antimony Market Experts:
----------------------------------
"Antimony prices soar on supply squeeze. Antimony ingot prices in the
European spot market continue to rise on the back of higher offers and limited
supply from China. Prices this week topped $6,000/tonne even for grade two
ingot." - http://www.metal-pages.com/ :
Chinese Investor Attraction Test Initiative:
--------------------------------------------
Synergy Management Group Ltd., Silverado's contractor, has provided
feedback that its on-the-ground people in China were generating key high
wealth investor databases, and carrying out awareness building via
presentations to banks, brokers and investment houses, media coverage, and
marketing directly to the newly compiled investor databases. Interest in
Silverado's Green Fuel venture is growing significantly.
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, OTC BB - SLGLF, FRANKFURT - SLGL
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
Silverado on Kitco www.kitco.com
Silverado's Asian (China) Investor Website www.silverado.hk
Silverado's North American Chinese Investor Link
http://nai.chineseworldnet.com/scripts/vc-portfolio/default.asp
More Information? http://www.silverado.com/investors/request/
Silverado Corporate Policy on Unsolicited Media Reporting:
--------------------------------------------------
http://www.silverado.com/MediaDisclaimer.pdf
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.
CONTACT: Suite 1820 - 1111 West Georgia Street, Vancouver, British
Columbia, Canada, V6E 4M3, Telephone: (604) 689-1535, Facsimile: (604)
682-3519; Investor Relations: E-mail: ir@silverado.com; Public Relations:
E-mail: pr@silverado.com, Toll Free: 1-800-665-4646 (Canada and USA only)
SOURCE Silverado Green Fuel Inc. -----------
Sollten Ihnen meine Aussagen zu klar gewesen sein, dann müssen Sie mich missverstanden haben.
Alan Greenspan. |
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