Here is the latest Press Release From Silverado....whose Whiskey Gulch and Marshall Dome property Homestake Mining had agreed to purchase a few months ago....but has been in the throes of negotiations with Santa Fe Pacific....which they have just lost to Newmont Mining.
Gold and Tonnage Resources
for the St. Paul Gold Deposit
Continue to Grow
FAIRBANKS, ALASKA MARCH 18, 1997 - SILVERADO MINES LTD. (NASDAQ -
GOLDF)... Ester Dome Gold Project located 10 miles west of
Fairbanks. Drilling and trenching activities at the St. Paul Gold
Deposit have continued at an unprecedented rate for Silverado Mines
Ltd. throughout the frigid Fairbanks winter. The new exploration
standard for Silverado Mines is full speed ahead regardless of the
weather. And that standard has paid off in relatively short order
with the discovery of impressive quantities of gold and silver
contained in the St. Paul Gold Deposit. With each new successful
drill hole and trench, the St. Paul Gold Deposit continues to grow in
length, breadth, depth, and quantity of contained precious metals.
As of this date, the St. Paul Gold Deposit comprises more than 87,000
ounces of gold contained in 3.3 million tons of mineralized rock.
In addition, recent surface exploration (trenching) has added 200 lineal
ft of gold-bearing geologic structure to the known St. Paul geologic
system, bringing the total confirmed length of the St. Paul Gold
Deposit to over 1,200 ft. This 1,200 foot-long portion of the
gold-bearing deposit lies within an identified 2,500 ft-long
mineralized zone, which is itself contained within a mineralized
system of more than 3 miles in length. Additionally, geologic,
geochemical, and geophysical data suggested that the St. Paul Gold
Deposit becomes wider along its principal axis to the southwest, and
recent drilling and trenching has confirmed that this is indeed the
case. The St. Paul has now been defined to a width of more than 200
feet at its greatest width. The preliminary values for gold
contained in this new significant portion of the deposit are due in
only a few days. Company geologists and field crews are awaiting
laboratory results which they expect will confirm the presence of
gold in this newly exposed portion of the St. Paul Gold Deposit.
(Table reformatted for E-Mail presentation purposes)
Hole / From-ft / To-ft / Width-ft / Gold (OPT)* / Comments
SP97R28 / 50 / 125 / 75 / 0.05 /
SP97R29 / 45 / 170 / 125 / 0.06 / includes 40 ft @ 0.12 OPT gold
SP97R30 / 70 / 130 / 60 / 0.09 /
SP97R31 / 80 / 165 / 85 / 0.07 / includes 25 ft @ 0.14 OPT gold
SP97R33 / 80 / 135 / 55 / 0.07 /
Hole / From-ft / To-ft / Width-ft / Gold (OPT)* / Comments
SP97T33 / 65 / 105 / 40 / 0.04 /
SP97T33B / 65 / 105 / 40 / 0.04 /
SP97T34 / 85 / 200 / 115 / 0.02 / includes 65 ft @ 0.03 OPT gold
SP97T34B / 130 / 195 / 65 / 0.04 / additional results pending
* OPT = ounces of gold contained in each mineralized rock
On Behalf of the Board
Garry L. Anselmo
President & CEO
Silverado Mines Ltd.
505-1111 W. Georgia St.
Vancouver, BC V6E 4M3
Tel: (800)665-4646
Tel: (604)689-1535
Fax: (604)682-3519
EMail: pr@silverado.com
www.silverado.com
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From prlist@silverado.com Wed Mar 19 18:55:25 1997
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