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The company has also collected four large underground samples of stibnite and gold-mineralized rock from the main vein in Tunnel D, which assayed as high as 2.
Drilling in the Le Pouvoir area encountered minor amounts of stibnite in 5 of the 9 holes and core sample results included: 0.
With the closing today of our one half million financing, the Company and its shareholders are one step closer to that first blast of stibnite (Antimony) ore.
The Workman's Bench project constitutes an important component of Silverado's plans to mine and ship stibnite concentrates.
Clients included Byron Creek Collieries (ESSO), Stibnite Mine Inc.
The Fencemaker mine, located in Pershing County, Nevada, is scheduled to begin operations this spring with the mining of stibnite (antimony) ore.
The gold and antimony (stibnite) drill targets include the four high priority areas in the central part of the Property delineated in the recent trenching program along with the high grade stibnite vein (antimony-Sb) in the northeastern portion of the Property, where values of up to 50% Sb and 24 g/t Au were recently reported (see news releases of September 8 and October 18, 2010).
Accessory minerals including stibnite (antimony), scheelite (tungsten) and arsenopyrite (arsenic) are commonly reported.
Gold mineralization at Crucero occurs as finely banded sulphide laminations composed of pyrite, pyrrhotite, arsenopyrite, stibnite, chalcopyrite and gold hosted in a sequence of deformed slates and siltstones.
Veins host strong gold and silver mineralization associated primarily with pyrite and lesser arsenopyrite, stibnite, galena and sphalerite.
Drilling will also test the high grade stibnite vein (antimony-Sb) in the northeastern portion of the Property, where values of up to 50% Sb and 24 g/t Au were recently reported (see news release of September 8, 2010).
Gary Woods, President and CEO of Mountain Lake, commented, "It is highly unlikely that the strongly mineralized fluids that travelled 100's to 1000's of metres from their source to deposit the almost solid stibnite vein at Little River only resulted in one fracture being mineralized in the area.
Both zones are hosted by a schistose felsic volcanic containing numerous quartz - arsenopyrite - stibnite veins as well as disseminated mineralization.
This hole intersected rocks similar to Hole 3 and penetrated a stibnite rich zone from -260 feet to -420 feet where seventeen 5-ft intervals exceeded 100 ppm antimony with two intervals exceeding 4,000 ppm.
Three mineralized zones are reported on the property, the West, Stibnite and South gold zones.
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