Golden Band Resources resumes gold production at La Ronge gold belt project
SASKATOON, Aug. 27, 2013 /CNW/ - Golden Band Resources Inc. ("Golden Band" or the "Company") (TSX.V-GBN; OTCQX-GBRIF) is pleased to announce that after five (5) months of upgrading of its plant facilities and stockpiling of ore, it has begun processing of ores as reported on August 19, 2013 and started pouring gold once again.
During the week of August 18-24, 2013, the Company poured two dore gold/silver bars for a total gross weight of 1,562.577 ounces, or 48.602 kg. These dore bars are a result of ore production from the Roy Lloyd deposit, which is owned 100% by Golden Band. Both bars averaged approximately 76.7% gold and 16.5% silver with 6.8% impurities, which is typical of the bars poured at Golden Band.
Combined with the full start-up of Golden Band's operation north of La Ronge, Saskatchewan, the Company is looking forward to moving back into the long term production of gold and silver. Mining of ore at the various deposits associated with the mine has continued despite the mill shutdown period. There were minor interruptions upon restarting the mill but operations there are now on track within the design parameters of the plant.
Mr. Paul Saxton, the Company's Chief Executive Officer, is the Qualified Person as defined in NI 43-101 for this disclosure and has reviewed and approved the content of this news release.
About Golden Band
Golden Band Resources Inc. is a gold producer operating in the La Ronge gold belt in northern Saskatchewan and is listed on the TSX Venture Exchange in Canada under the symbol GBN and traded in the United States on the OTCQX under the symbol GBRIF. Commercial production was declared on April 1, 2011. The Company has been actively exploring the La Ronge Gold Belt since 1994 and has assembled a land package of 870 km2, including 13 known gold deposits and four former producing mines, being Jolu, Decade, Star Lake and Komis. The Company plans to undertake aggressive drill programs throughout the La Ronge Gold Project with the goal of significantly expanding the existing NI 43-101 gold resources that have been identified to date.
On behalf of the Board of Directors of Golden Band Resources Inc.,
Paul Saxton, CEO
Caution Regarding Forward-Looking Information and Statements:
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the restructuring of operations, estimates of production, costs of production, the sufficiency and availability of capital and financing and other future plans, objectives or expectations of Golden Band Resources Inc. (Company) are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of operations, current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company. The Company makes all reasonable efforts to update its corporate information on a timely basis.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Golden Band Resources Inc.For further information:
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