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Silverado Gold Mines Ltd.
(OTCBB: SLGLF) Silverado Gold Mines Ltd. announced on 2/14/08 that it has finalized its funding, and Strategic Planning for the exploration of the Nolan Creek Lode Gold Project, for the 2008 season.
Exploration drilling at Silverado's prime identified locations, commencing at the end of April, 2008, is to be carried out on its gold and antimony exploration targets within the Solomon Shear Zone, Workman's Bench, and within Pringle Bench. Definition drilling will direct further underground work. Financing of $ 5 million has been secured for Silverado to carry out its 2008 Exploration Strategic Plan.
While exploration drilling will be undertaken on Workman's Bench and Pringle Bench, exploration crews will conduct detailed ground geophysical and ground geochemical soil surveys across the Fortress Zone which contains NW-striking gold-quartz vein systems.
The Fortress and Solomon Shear Zones are assumed to be the sources of the placer gold that has been mined by Silverado Gold Mines, and are the focus of the company's lode exploration programs (see 3D map http://www.silverado.com/i/pdf/3DNolanLodePlacer.pdf). Historically, Nolan Creek has yielded 120,000 Toz of placer gold since its discovery. Silverado itself has produced over 15,000 Toz of gold on this 100% Silverado owned Nolan Creek property.
Solomon Shear Zone
The NE striking gold-antimony-quartz-vein system represents the borderline between mesothermal (medium temperature) and epithermal (low temperature) mineralization. In the Nolan Creek area, gold and antimony grades within the gold-antimony-quartz vein systems, increase with depth, as indicated by drilling. The highest antimony and gold grades of all three drilled prospects (Workman's Bench, Pringle Bench and the Hillside) within the Solomon Shear Zone are found at Workman's Bench, which represents the lower drilled part of the gold and antimony mineralized system.
The Workman's Bench mineralized zones have been confirmed over a strike length of 600 feet. They are well defined and contain antimony and gold bearing veins each of which are generally larger in width (up to one foot) than at the other prospects. This is not only evidenced by drilling, but also by underground and surface observations.
During winter 2007/08, Silverado drove an exploration tunnel into the Workman's Bench mineralized zone to intersect the gold bearing antimony-quartz veins. Results of this program will be presented upon receipt of assays.
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. The gold and antimony mineralized zones at Workman's Bench are open laterally and at depth. 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.
Fortress Zone
The Fortress Zone contains NW-striking gold-quartz vein systems (see 3D map http://www.silverado.com/i/pdf/3DNolanLodePlacer.pdf). These are located in the Fortress area, and also confirmed in the Right Fork of Vermont Creek. They show generally higher gold values than the gold-antimony vein system. The NW-striking gold-quartz vein system represents mesothermal (medium temperature) vein mineralization. Mesothermal gold deposits form the world's largest gold deposits.
Although only in its early exploration stage, the extensive soil geochemical survey along with the ground geophysical VLF-EM survey performed in 2007 has revealed east-west trending fault zones that are overlain by strong arsenic and gold in soil anomalies, which are up to 1,500 feet in length. Arsenic is a strong indicator for the presence of gold mineralization.
The formation of the northwest striking gold bearing quartz veins was controlled by east-west trending deformation zones, as evidenced in other areas of the southern Brooks Range.
Further soil sampling, in conjunction with a ground geophysical VLF-EM survey, will be carried out this summer to determine the extent of the Fortress Zone. A series of three to five trenches is planned prior to drilling, provisionally scheduled for mid August. The Fortress area represents a prime exploration target for mesothermal lode gold mineralization.
Exploration will be supervised by Dr. Karsten Eden, Vice President, Exploration, Silverado Gold Mines Inc. Dr. Eden is a Certified Professional Geologist and is a qualified person under Canadian National Policy Instrument 43-101.
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EnDevCo, Inc.
(OTCBB: ENDE), EnDevCo, Inc. the Energy Development Company, released on 2/19/08 important reservoir information from the first horizontal well drilled in the Company's Short Junction Field in Oklahoma.
The WSJU #109StH well was drilled as a re-entry from the surface location of the pre-existing WSJU #109 well and is the first well in the Field producing from a open hole horizontal lateral drilled 3,354 feet through the prolific middle Bois d' Arc member of the Hunton limestone reservoir.
The entire horizontal lateral was logged open-hole on drill pipe using the state-of-the-art TLC logging system supplied by Schlumberger. EnDevCo's evaluation of the porosity logs indicates 1,081 feet of porosity greater than 6% was cut by the well bore. In addition to the porosity logs, the Company also ran Schlumberger's advanced Formation Micro Imager (FMI) log which revealed multiple fractures and vugs (caverns) in porous intervals, many of which exceeded one foot in diameter.
"These horizontal well logs confirm our geological interpretation that during the Pennsylvanian period, the Short Junction Field was uplifted, which created a karst terrain. The resulting erosion of the Hunton limestone created a complex network of fractures and caves which are filled with oil, but are not all interconnected. As a result, many untapped pools exist within the Field that can only be produced by drilling horizontal wells. Our preliminary flow testing of the well indicates that much of the horizontal well bore has encountered virgin reservoir conditions even though the Field has been under production for over sixty years," stated COO Richard G. Boyce.
A recent flowing pressure test conducted on the well measured a static bottom hole pressure of 3,745 psia and after a 24 hour flow period indicated only 93 lbs of pressure drawdown. EnDevCo is currently installing an electric submersible pump in the well capable of moving up to 4,000 barrels of total fluid per day. Additionally, the Company is upgrading electrical service to the well site, installing additional oil storage capacity and improving the water disposal system at the Stage II oil processing facilities in order to produce the well at high flow rates. Once the infrastructure improvements are in place, the well will be subjected to an extensive flow test to determine the stabilized rate of oil and gas production.
EnDevCo is preparing the location for the WSJU #111StH, approximately 1/2 mile due east of the WSJU #109StH as the next step towards full horizontal development of the Field.
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NextGen Bioscience, Inc.(OTCBB: NXGB), NextGen Bioscience, Inc.a biotechnology company that develops novel therapeutic proteins that disrupt the advance of life-threatening cancers, today, 2/19/08, announced that it is in collaboration negotiations with Warburg Glycomed, a biopharmaceutical company that has developed a new class of drugs which has shown potent anti-cancer properties in animal models.
The company, Warburg Glycomed GmbH ("Warburg Glycomed") has a patent-protected compound that is able to reprogram cancer cells by modulating their aerobic glucose metabolism, which affects their ability to grow. Warburg Glycomed has expressed keen interest in collaborating with NextGen in a recently signed Letter of Intent, and is confident that a mutually beneficial deal can be arranged.
Konstantinos Kardiasmenos, CEO of NextGen, stated, "These collaboration discussions with Warburg Glycomed represent progress on fulfilling our business goal to form international collaboration agreements with specialty research organisations. An alliance with Warburg Glycomed would strengthen both companies' position to capture the phenomenal global market for therapeutic cancer agents, which is now reaching a volume of approximately $30 Billion."
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Solar Power, Inc.
(OTCBB:SOPW) Solar Power, Inc. a vertically integrated manufacturer of photovoltaic (PV) modules and designer and installer of PV solar electric systems for commercial, public and residential customers in the United States, 2/20/08 announced that it expects total revenues for the fiscal year 2007 to be approximately $18 million.
These results update earlier revenue guidance of $20 million and were lower than expected due to a delay in one of its projects. The project was expected to realize revenues in the 4th quarter of 2007 and, as a result of the delay, solar panels that were built for the project will be included in 4th quarter 2007 inventory and are expected to be installed in the first half of 2008.
The company reiterated revenue guidance of $60 million for 2008 and approaching profitability by fiscal year end. "Our business continues to expand rapidly as evidenced by the number of new contracts we have signed," said Steve Kircher, CEO. "Despite this delay, our 2007 revenue more than tripled the revenue for 2006. Looking forward, the pipeline of business opportunities is strong and we expect to again approximately triple revenues for this calendar year."
Solar Power, Inc. expects to release its full financial results for the 4th quarter and fiscal year 2007 and hold its regularly scheduled quarterly conference call on March 11, 2008.
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