SASKATOON, April 20 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to announce that effective April 1st, 2011 the Company's 100%-owned La Ronge Gold project in northern
Saskatchewan had attained commercial production. The Company is also
pleased to provide an update on other development activities associated
with the La Ronge Gold Project.
Jolu Gold Mill Operation
The Company's Jolu gold mill processed a total of 9,912 dry tonnes of
high-grade ore from the Roy Lloyd mine during March, producing 3,349
troy ounces (107.7 Kg) of gold, with a recovered grade of 10.25 g/t Au.
Total gold production to April 18th is 6,586 troy ounces (211.7 Kg), and the Company is on track to achieve
its target of 45,000 troy ounces of gold for the first year of
Ron Netolitzky, Executive Chairman, reported "We have reached the last
milestone of Golden Band's Plan for Production with this significant
achievement. Our goal is to now build on the established level of
production by bringing two new mines, EP and Komis, on stream within
the next twelve months. This will see us increase our production level
to the 70,000-ounce gold per year mark. We are also embarking on a
program to replace reserves and increase our resource base for longer
term future production."
Roy Lloyd Mine Operation
Production operations at Roy Lloyd mine have ramped up to the planned
target 350 tonnes per day (tpd) with ore production established from
two mine production blocks on the 1340 Level.
Development of the next production area, including the 1325, 1295 and
1265 Levels, has now been completed and all infrastructure is in place
to establish additional mine production blocks.
Development of the decline to extend ramp access below the existing 1265
Level is continuing and has reached the 1245 Level, approximately 150
metres below surface. Development will continue to establish access to
future production levels, however the priority is to gain access at the
1200 Level to enable an underground resource expansion drilling program
to proceed later this year. This diamond drilling is to convert the
current inferred resource of 155,074 tonnes at 13.89 grams/tonne gold
to the measured and indicated resource category and allow production
planning to a depth of 400 metres.
Komis / EP Mine Operation
At the Company's Komis / EP site, mobilization has been completed for
start of mining operations, and waste pre-stripping on the EP open pit
mine has commenced. It is anticipated that ore haulage from the site to
the Jolu mill will commence in June, 2011, which will allow mill
throughput to be increased to 700 tpd.
Preparations have also commenced for dewatering the past-producing Komis
underground mine. Rock has been cleared from the mine entrance and
pumping of mine water from the workings is expected to commence in
April. Dewatering is expected to take up to 2 months to complete.
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is
now its newest gold producer. Golden Band is a Saskatchewan-based,
publicly listed company (GBN: TSXV) whose focus is the long-term,
systematic exploration and development of its 100%-owned La Ronge Gold
Belt properties. Since 1994, Golden Band has assembled through staking
and strategic acquisition a land package of more than 750 km2, including twelve known gold deposits, four former producing gold
mines, and the licensed Jolu gold mill. Golden Band's key value drivers
are the methodical and systematic targeting of primary to
advanced-stage exploration while progressing along a parallel path to
becoming a sustainable gold producer. The Company is aggressively
pursuing its near-term goal for the development and production of its
Bingo, EP, Komis, and Golden Heart gold deposits, with processing at
the 100%-owned Jolu mill. Longer-term objectives include production
from the Company's other deposits and the continuation of its highly
successful exploration and acquisition strategy.
On behalf of the Board of Directors of Golden Band Resources Inc.,
"Ronald K. Netolitzky"
Ronald K. Netolitzky, Executive Chairman
All of Golden Band's exploration programs and pertinent disclosure of a
scientific nature are prepared and/or designed and carried out under
the supervision of Charlie Harper, P.Geo., who serves as the qualified
person (QP) under the definitions of National Instrument 43-101.All of
Golden Band's development-related programs and pertinent disclosure of
a development nature are prepared and/or designed and carried out under
the supervision of Gary Haywood, P.Eng., Golden Band's VP of Operations
and COO, who serves as the qualified person (QP) under the definitions
of National Instrument 43-101.
Cautionary Statements on Forward-Looking Information: The news release includes certain "forward-looking information within
the meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively "forward looking
statements")." All statements other than statements of historical fact
included in this release, including, without limitation, statements
regarding planned development, potential mineralization, interpretation
of prior exploration and potential exploration results, the timing and
success of potential financing, development and exploration activities
generally, the timing and results of future resource estimates, and
future plans and objectives of Golden Band 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. Although the Company has attempted to
identify important factors that could cause actual actions, events or
results to differ from those described in forward-looking statements,
there may be other factors that cause such actions, events, or results
to differ materially from those anticipated. There can be no assurance
that forward-looking statements will prove to be accurate and
accordingly readers are cautioned not to place undue reliance on
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: