This news was posted today:
Silverado is pleased to provide an update to Monday, February 06, 2006's press release which announced the gold discovery at our Nolan Gold Project.
A survey of the Swede Channel was completed on Saturday, February 4th, 2006. A metal detector was used to check the gravel interface with the bedrock for gold. Three areas containing gold were found. The first area, about 60 feet back from the face of the heading produced a 0.11 troy ounce gold nugget from the right limit of the channel (the right side looking downstream). The second area to produce gold is about 40 feet downstream from the face of the heading also on the right limit. This area produced 13 nuggets with a total weight of 0.26 ounces. Many of these nuggets were found in the decomposed bedrock within the fissile planes of the decomposed schist. The third find was a lovely 0.18 ounce nugget (see picture) found in the face of the heading and about in the middle of the channel.
As of Monday night, our mine superintendent reports that a cross cut of the Swede Channel to the southeast is at 36 feet long and has not yet hit the left limit. Therefore, the width of this pay channel has yet to be determined. The crosscut is showing a flat gradient to the floor of the channel. We are very excited at the width of the channel. It contains what we refer to as "high energy gravels" including large cobbles, and boulders. This is evidence that the depositional environment was swift and given the relatively flat channel slope which collects and retains the gold passing over it, makes this particular section of the channel somewhat like a natural sluice box. Our mine superintendent also reports that he found an 8-pennyweight nugget (0.4 troy ounce) in the cross cut on Monday night February 6, 2006.
This channel was never worked by the old timers. In fact, they didn't find it. Not surprising since it is covered by more than 100 feet of frozen overburden at an elevation more than 200 hundred feet above the valley floor. Silverado crews are more than 500 feet into the mountainside as we follow this Swede Channel pay streak.
According to our extensive drill hole data, there is a high-grade hole where this ancient channel is believed to have lost velocity and deposited its heavier gold. As of February 07, 2006, this hole is approximately 70 feet ahead of our advancing mining crew.
We will continue this project for two more months weather permitting and mine as much as possible for the duration of this winter. Gold nuggets previously mined from this rich channel have ranged as high as 10, 20, 30 and 40+ ounces in size.
This press release was prepared by Edward J. Armstrong, CPG, a qualified person under NI 43-101 standards.
Just a guy with a trinket shop who laughs all the way to the bank every day.
A boy and his toy 
