A good set of results and a new web site targeting China served as a double whammy yesterday and drove Silverado's stock price up to $0.072, on volume of 6.9 million shares traded.
We have been invested in this gold and green fuel stock for some time now and have endured a bouncy ride throughout this period of ownership. Silverado's stock price however, of late, has stagnated despite the mammoth efforts of gold to take on all comers and succeed. We still believe that they have as good a chance as anybody of finding that all illusive mother lode, so we will continue to stick with them.
The assay results came from the underground exploration programme at Workman's Bench and revealed gold grades as high as 1.04 troy ounces gold per ton (35.8 g/t Au) and 64.34 % antimony. As a memory jogger this is Silverado's main exploration target for a lode gold deposit in the south western part of the Solomon Shear Zone.
As to the future drilling schedule the company had this to say:
“Silverado Gold Mines is planning an extensive drilling program at Workman's Bench to define the gold and antimony mineralization at depth over a strike length of 1,500 feet from Smith Creek, down to the Nolan landing strip. Once this program is completed, drilling will continue on Pringle Bench. The drilling program at Pringle Bench will be designed to intersect the gold and antimony mineralized zones at the Workman's Bench level. The gold and antimony mineralized zones at Workman's Bench and Pringle Bench are both open laterally and at depth.”
To read this news release in full and see the tabulated results for yourself just click this link, and stay in touch with our increasingly popular free newsletter by entering your email address here.
SILVERADO trades - OTCBB: SLGLF, in Frankfurt as SLGL and in Berlin as SLGL.
Enjoy the ride.