GBN: TSX Venture Exchange
SASKATOON, Sept. 19 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to announce that mobilization of the underground development crew to
the Bingo gold deposit exploration site has now commenced, and that work is
underway on access road improvement and brush clearing, with surface
infrastructure construction including offices, workshop, and water handling
facility to follow immediately after.
The underground work will be performed by the joint venture between
Kitsaki Mining Limited Partnership and Procon Mining and Tunnelling Ltd. As
also announced by the Company on September 19, 2007, a General Services
Agreement has been signed between Golden Band and the Kitsaki/Procon JV.
"This is an especially significant milestone for us along Golden Band's
Path to Production," said Rodney Orr, President and CEO. Gary Haywood, VP
Operations and COO, notes that "This is an exciting time for the team at
Golden Band, as we evolve from a purely exploration company to a mine
operations company. This underground exploration decline represents a
culmination of many years of exploration to where we are able to develop what
will potentially be the next working gold mine in Saskatchewan. We are working
diligently with our contractor to ensure our underground exploration program
proceeds on schedule."
Phase 1 will see construction of the portal boxcut that will commence in
September, and the development of a 4.5 m x 4.5 m decline ramp for underground
access will follow. Golden Band will develop a 450m long decline down to an
approximate depth of 75m, followed by 130m of exploration development along
the orebody. An intensive sampling program will be conducted to gain essential
geological information in the assessment of the Bingo orebody.
This first phase of the exploration program is expected to be completed
by February 2008. A second phase of the underground exploration program is
planned to extend the decline by 350m to establish a second level at an
approximate depth of 125m. The second phase will provide information to assess
orebody continuity between the two levels.
All necessary permits for this exploration project are in place and the
company will work closely with the contractor to ensure an expedient start to
the underground exploration program.
About Golden Band
Golden Band Resources is a well-financed, 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 km(2), including ten known gold
deposits, four former producing mines, and a licensed gold mill. The Company's
near-term goals call for development and production from the Bingo, Komis, and
EP deposits with processing at the Company's 100%-owned Jolu mill - a project
that received a positive Preliminary Economic Assessment (scoping study) on
April 19, 2007. Longer-term objectives include production from the Company's
other deposits and the continuation of its highly successful strategy of
exploration and acquisition.
On behalf of the Board of Directors of Golden Band Resources Inc.,
Rodney G. Orr, P.Geo., President & CEO
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 Frank Hrdy, P.Geo., Golden Band's VP Exploration, 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, who
serves as the qualified person (QP) under the definitions of National
Cautionary Statements on Forward-Looking Information: The statements made
in this News Release may contain certain forward-looking information. Actual
results may differ materially from those currently anticipated in such
statements. Certain risk factors may also affect the actual results achieved
by the Company.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Please note the new toll free phone number for
Golden Band is 1-866-501-5651; Golden Band Resources Inc.: Rodney Orr,
President, (306) 955-0787 extension 13, firstname.lastname@example.org;
Motivia Communications: Roger Francis, (306) 242-0694, toll free: