GBN: TSX Venture Exchange
SASKATOON, Sept. 5, 2012 /CNW/ - Golden Band Resources Inc. (Golden Band
or the Company) (GBN: TSXV; OTCQX: GBRIF) is pleased to announce that
drilling has intercepted significant bonanza grade gold mineralization
on the Company's Roy Lloyd Mine (Bingo gold deposit) in northern
Saskatchewan. Hole RLUG-27, intercepted 8.17 metres (true width 6.5 m)
averaging 66.85 grams per tonne gold.
The bonanza gold mineralization was intercepted 255 metres deeper than
the lowest mining level in the Roy Lloyd gold mine, further confirming
potential for deep extension of economic mineralization.
CORE LENGTH m
TRUE WIDTH m
233.06 - 241.23
234.00 - 240.79
238.14 - 240.79
The drill program is designed in part to define minable resources within
the Bingo Structure below the 1175 elevation, which is the lowest
active level of the Company's Roy Lloyd gold mine. Recent drill
results and historic data are being utilized to define a new resource
below the 1175 level.
Matt Conklin, Golden Band's Vice President of Operations, stated,
"Golden Band is very pleased with these and the overall results of the
summer surface and underground drilling campaigns at the Roy Lloyd
Mine. We are compiling the surface and underground program data and
will provide the complete results as quickly as possible, followed by
an updated resource estimation for the Roy Lloyd mine."
Mr. Saimon Ngindi, P.Geo., Senior Resource Geologist and Qualified
Person as defined by National Instrument 43-101, is responsible for the
accuracy of the technical data and information contained in this press
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is
now also 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 870 km2, including 12 known gold deposits, four former producing mines, and a
licensed 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 of being a sustainable gold producer.
The Company is aggressively pursuing its near-term goal of commercial
production of its Bingo, Komis, and EP deposits with processing at the
100%-owned Jolu mill. The Company's objective is the annual production
of at least 75,000 ounces of gold over a ten-year project life. Other
longer-term objectives include the continuation of its highly
successful exploration and acquisition strategies.
On behalf of the Board of Directors of Golden Band Resources Inc.,
A.Robson Garden, QC
President and 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
relating to the potential mineralization and geological merits of the
mine properties, 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
current exploration activities, fluctuating gold prices, possibility of
equipment breakdowns and delays, cost overruns, availability of capital
and financing, 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 with securities regulators available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated, or intended. Accordingly,
readers should not place undue reliance on forward-looking information.
The Company expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation.
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:
Rodney Orr, P.Geo., VP Corporate Development
Golden Band Resources Inc.
Phone: 306 385 7123 | Fax: 306 955 0788
Raju Wani: 403 240 0555 | Tony Perri: 604 682 6852