Monday, 22nd January 2007 (2365 views)

Silverado Gold Mines has confirmed that it is to zero in on what it believes is a "potentially huge" source of gold at its Nolan property in Alaska.

Last year the Canada-based company carried out a trenching programme at the site which identified three zones containing antimony-gold-quartz veins.

A total of 71 combined chip and channel rock samples were collected, 32 of which show values above 0.01 ounces of gold per ton, ranging from 0.01 to 0.83 ounces per tonne.

According to Silverado these results confirm that high-grade lode gold mineralised quartz veins exist at the Solomon Shear trend within the Nolan property and it plans to initiate an active exploration programme of this particular zone sometime this year.

The company's chief executive Garry Anselmo said: "Silverado has committed decades of work to the exploration, development and test mining of gold and after 16 years of extensive work at the Nolan property we are zeroing in on this potentially huge source of gold."

Some 19,430 ounces of gold have been recovered from channel and bench deposits in the Nolan Valley between 1982 and 2006.

 

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