Golden Band intersects high grade mineralization at depth in the Bingo gold deposit



    GBN: TSX Venture Exchange

    SASKATOON, Oct. 22 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to announce the results of its 2007 summer drilling program on the
Company's 100%-owned Bingo gold deposit in the La Ronge Gold Belt of northern
Saskatchewan.
    Highlights of the assay results include: 26.2 g/t Au/9.9 m; 16.5 g/t
Au/5.4 m; 5.3 g/t Au/25.8 m; and 8.4 g/t Au/9.0 m. Importantly, the
interpreted down-plunge extension of the deposit was also confirmed at depth.
    "Given that we are also advancing with our underground exploration
program at our Bingo gold deposit, these surface drilling results are very
encouraging", said Rodney Orr, Golden Band's President. "Our exploration team
has done a great job. Not only will we be able to expand our higher-grade
resources in the Bingo deposit with these drilling results, but we have also
confirmed new high-grade mineralized areas and expanded several known zones
that will be added to our underground exploration targets. The apparent
confirmation of the down-plunge mineralization in the deposit indicates
significant room to expand this deposit further - which our mining engineers
are especially glad to see."
    As previously reported (see news releases of July 12, September 20, and
October 10, 2007), the purpose of the 43-hole diamond drilling program
(3,407.4 m, Figure 1) completed during June and July 2007 was to expand the
known gold resources and to convert inferred category resources to indicated
or measured resource categories, as would be required for future pre- and
feasibility studies. These resources are within the upper 100 metres of the
deposit, where it is more cost-effective to use drilling on 12.5-metre
spacings rather than underground exploration. Table 1 provides the assay data
as measured along the drillhole intersection (reported below) and also for the
apparent length given that these are all angled drillholes. See Figure 2 for
the approximate location of these drillholes in long section view. Four areas
were examined in the drilling program (see Figures 1 & 2):

    
    1) Southern infill:
    -------------------
        -  15 holes (WD-121 to 135) to establish the southern boundary of the
           deposit and to increase the near-surface resources through
           drilling rather than by higher-cost underground exploration;

        -  assays up to 10.04 g/t Au/0.4 m (WD-123).

    2) South-central extension:
    ---------------------------
        -  19 holes (WD-136 to 154) to infill and define the near-surface,
           up-plunge continuity of the deposit;

        -  Significant gold intersections include 14.69 g/t Au/2.9 m and
           8.39 g/t Au/9.0 m (WD-144 & 145).

    3) Northwest extension infill:
    ------------------------------
        -  7 holes (WD-155 to 161), with high-grade gold mineralization in
           two holes at approximately 75 m below surface:

        -  26.21 g/t Au/9.9 m, including one metre grading 170.24 g/t Au
           (WD-156);

        -  a step-out hole 12.5 m to the north intersected 5.31 g/t
           Au/25.8 m, including 40.19 g/t Au/1.5 m and 9.19 g/t Au/1.5 m
           (WD-157).

    4) North-northwesterly plunging zone at depth:
    ----------------------------------------------
        -  NNW plunge was confirmed at 230 m vertical depth with 13.55 g/t
           Au/5.4 m, including 22.98 g/t Au/3.0 m (WD-163).

        -  This intersection provides an important probable connection to a
           significant gold intersection encountered in earlier deep drilling
           that is 90 m deeper vertically (i.e., 250 m vertical depth: WD-37:
           21.7 g/t Au/1.0 m).
    

    Golden Band is very pleased with the results, and especially with holes
WD-145, 156, 157, 160, 161 and 163 that have identified new, and potentially
economic mineralization in the south-central and northwestern parts of the
Bingo deposit. The Company is also especially encouraged by drill hole WD-163
that increases the confidence in the interpretation of a plunging ore shoot to
depth. This remains open to further exploration at depth, probably from
underground drilling and subsequent underground workings.
    These results will provide (i) the necessary in-fill drill hole
information to expand the known resources, (ii) to convert the existing
inferred resource to indicated from near-surface to 100 m depth, and (iii) to
upgrade the existing overall resource estimation. The conversion of inferred
category resources to either indicated or measured category confidence level
will now be at a much lower cost than from underground exploration. This also
allows the focussing of the underground exploration in areas where drilling
could not provide a cost-effective density of information and, importantly,
has identified areas where it is warranted to expand and extend the
underground exploration.
    As previously announced (September 19 and October 10, 2007), the Bingo
underground program is proceeding, with the excavation of the exploration
decline currently underway. The standard fire assay results for all 43
coreholes completed during the drill hole program are summarized in Table 1
and the complete dataset will be provided on the Company's website. The assay
intervals reported as measured along the core axis do not represent true
lengths. Apparent lengths are also provided that account for the drill hole
inclinations but not necessarily for the plunge of the mineralization. The
apparent lengths are estimates only and may either under- or overestimate the
true lengths because of the complex structural geology within the deposit.
    The quality assurance/quality control of the fire assay data was
monitored by a series of 63 sample standards and sample blanks which were
routinely inserted into the sample sequences that were consigned to Accurassay
Laboratories in Thunder Bay, Ontario, for assaying. Accurassay is an ISO/IEC
guideline 17025 accredited facility. The gold content of 63 samples was
further verified by metallic screen assays performed by Accurassay.

    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 km2, 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 has received a positive Preliminary Economic Assessment (scoping study).
Longer-term objectives include production from the Company's other deposits
and the continuation of its highly successful exploration strategy.

    On behalf of the Board of Directors of Golden Band Resources Inc.,

    "Rodney G. Orr"
    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, and Ron
Avery, 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, who serves as the qualified person (QP) under the
definitions of National Instrument 43-101.

    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.


    
       Table 1: Bingo Deposit Assay Data 2007 Summer Drilling Program
                        Aggregated Uncut Gold Results
            Based on 582 Standard and Metallic Screen Fire Assays
                         (including 63 check samples)
             (measured sample intervals are along the drill hole;
                     range: 0.3 to 2.5 m, median: 1.5 m)
    -------------------------------------------------------------------------
                      Drill-
    Drill-  Inclin-     hole                             Apparent     Fire
     hole    ation     Depth    From     To    Interval  Length(1) Assay(2,3)
                        (m)     (m)      (m)      (m)       (m)      (g/t Au)
    -------------------------------------------------------------------------
    WD-121    -45
            degrees     28.0   16.15    16.35    0.20      0.14      1.154(*)
    -------------------------------------------------------------------------
                               12.90    13.25    0.35      0.19      5.231(*)
    WD-122    -58       45.1  -----------------------------------------------
            degrees            31.55    32.05    0.50      0.27      3.206(*)
    -------------------------------------------------------------------------
                               15.25    16.20    0.95      0.32      1.040(*)
    WD-123    -70       45.1  -----------------------------------------------
            degrees            36.80    37.20    0.40      0.14       10.044
    -------------------------------------------------------------------------
                                9.00    10.50    1.50      1.07        1.407
    WD-124    -45       32.0  -----------------------------------------------
            degrees            26.00    27.00    1.00      0.71        1.524
    -------------------------------------------------------------------------
                               33.00    33.50    0.50      0.27      2.584(*)
    WD-125    -58       42.1  -----------------------------------------------
            degrees            41.50    42.06    0.56      0.30        6.322
    -------------------------------------------------------------------------
    WD-126    -70
            degrees            50.00    51.00    1.00      0.34        1.308
    -------------------------------------------------------------------------
    WD-127    -45
            degrees     29.6   no significant values (greater than)1 g/t Au
    -------------------------------------------------------------------------
    WD-128    -60
            degrees     87.5   82.40    84.00    1.60      0.80        2.553
    -------------------------------------------------------------------------
    WD-129    -48
            degrees     31.7   no significant values (greater than)1 g/t Au
    -------------------------------------------------------------------------
    WD-130    -69
            degrees     42.1   no significant values (greater than)1 g/t Au
    -------------------------------------------------------------------------
    WD-131    -66
            degrees     38.7   11.00    12.50    1.50      0.61      2.051(*)
    -------------------------------------------------------------------------
    WD-132    -67
            degrees    127.4   94.25    95.50    1.25      0.49      1.672(*)
    -------------------------------------------------------------------------
    WD-133    -60
            degrees     54.6   28.80    29.80    1.00      0.50      4.038(*)
    -------------------------------------------------------------------------
    WD-134    -60
            degrees     72.5   48.15    49.70    1.55      0.78      1.080(*)
    -------------------------------------------------------------------------
    WD-135    -47
            degrees     38.4   26.40    27.90    1.50      1.02        3.327
    -------------------------------------------------------------------------
                               40.00    42.20    2.20      1.00      4.311(*)
    WD-136    -63       72.5  -----------------------------------------------
            degrees            49.70    52.30    2.60      1.18        3.918
    -------------------------------------------------------------------------
    WD-137    -45
            degrees     54.3   36.70    37.80    1.10      0.78     12.182(*)
    -------------------------------------------------------------------------
                               38.90    41.90    3.00      1.36      2.093(*)
    WD-138    -63       72.9  -----------------------------------------------
            degrees            43.40    44.90    1.50      0.68        3.825
    -------------------------------------------------------------------------
    WD-139    -45
            degrees     54.3   47.90    49.90    2.00      1.41        2.059
    -------------------------------------------------------------------------
                               47.90    49.40    1.50      0.68      2.813(*)
    WD-140    -63       72.8  -----------------------------------------------
            degrees            50.90    52.40    1.50      0.68        1.260
    -------------------------------------------------------------------------
    WD-141    -45
            degrees     29.6   no significant values (greater than)1 g/t Au
    -------------------------------------------------------------------------
                               23.00    26.00    3.00      2.12        1.631
    WD-142    -45       32.9  -----------------------------------------------
            degrees            26.00    29.00    3.00      2.12        5.611
    -------------------------------------------------------------------------
    WD-143    -45
            degrees     53.9   43.10    47.60    4.50      3.18      1.348(*)
    -------------------------------------------------------------------------
    WD-144    -60
            degrees     72.9   54.60    57.50    2.90      1.45     14.686(*)
    -------------------------------------------------------------------------
              -66
            degrees    124.7   79.00    88.00    9.00      3.66        8.392
            -----------------------------------------------------------------
    WD-145      including      79.00    80.50    1.50      0.61     24.232(*)
            -----------------------------------------------------------------
                including      86.50    88.00    1.50      0.61     22.452(*)
    -------------------------------------------------------------------------
                               63.90    64.80    0.90      0.41        2.497
    WD-146    -63      100.0  -----------------------------------------------
            degrees            70.80    73.80    3.00      1.36        1.825
    -------------------------------------------------------------------------
                               22.50    25.20    2.70      1.91        2.566
    WD-147    -45             -----------------------------------------------
            degrees     33.2   28.20    29.70    1.50      1.07        5.019
                              -----------------------------------------------
                               31.20    32.60    1.40      0.99        7.199
    -------------------------------------------------------------------------
                               33.30    34.80    1.50      1.06        4.460
    WD-148    -45       42.1  -----------------------------------------------
            degrees            36.30    37.80    1.50      1.06        4.231
    -------------------------------------------------------------------------
                               20.80    23.80    3.00      1.93        2.344
    WD-149    -50       32.9  -----------------------------------------------
            degrees            28.30    31.30    3.00      1.93        1.789
    -------------------------------------------------------------------------
                               25.60    27.10    1.50      1.06        3.009
    WD-150    -45             -----------------------------------------------
            degrees     39.0   29.30    30.80    1.50      1.06        2.295
                              -----------------------------------------------
                               33.80    35.30    1.50      1.06        3.662
    -------------------------------------------------------------------------
    WD-151    -62
            degrees     93.9   77.00    78.50    1.50      0.70        1.135
    -------------------------------------------------------------------------
                               16.30    18.00    1.70      1.20        2.129
    WD-152    -45             -----------------------------------------------
            degrees     47.6   19.30    20.80    1.50      1.06        2.396
                              -----------------------------------------------
                               22.30    25.30    3.00      2.12        3.040
    -------------------------------------------------------------------------
    WD-153    -55
            degrees     32.9   18.00    19.50    1.50      0.86      5.985(*)
    -------------------------------------------------------------------------
              -64
            degrees    124.4  106.00   114.60    8.60      3.77        2.565
    WD-154  -----------------------------------------------------------------
                including     113.50   114.60    1.10      0.48      8.444(*)
    -------------------------------------------------------------------------
    WD-155    -55
            degrees    118.0  112.20   115.20    3.00      1.72        1.533
    -------------------------------------------------------------------------
              -57
            degrees    118.3  100.30   110.20    9.90      5.39     26.206(*)
    WD-156  -----------------------------------------------------------------
                including     103.00   104.00    1.00      0.54    170.238(*)
    -------------------------------------------------------------------------
              -60
            degrees    118.0   86.00   111.80   25.80     12.90        5.314
            -----------------------------------------------------------------
                including      86.00    89.00    3.00      1.50       10.208
    WD-157  -----------------------------------------------------------------
                including     108.80   110.30    1.50      0.75     40.193(*)
            -----------------------------------------------------------------
                including     110.30   111.80    1.50      0.75      9.193(*)
    -------------------------------------------------------------------------
    WD-158    -47
            degrees    108.6   no significant values (greater than)1 g/t Au
    -------------------------------------------------------------------------
    WD-159    -59
            degrees    124.1   no significant values (greater than)1 g/t Au
    -------------------------------------------------------------------------
    WD-160    -60
            degrees    114.9   65.40    67.90    2.50      1.25      6.014(*)
    -------------------------------------------------------------------------
              -75
            degrees    118.6   32.00    36.00    4.00      1.04       14.043
            -----------------------------------------------------------------
                including      33.00    34.50    1.50      0.39       23.681
    WD-161  -----------------------------------------------------------------
                including      34.50    36.00    1.50      0.39       12.157
            -----------------------------------------------------------------
                               59.50    61.00    1.50      0.39        1.643
                              -----------------------------------------------
                               62.50    65.50    3.00      0.78      2.856(*)
    -------------------------------------------------------------------------
                              126.90   127.40    0.50      0.21        3.659
    WD-162    -65      273.7  -----------------------------------------------
            degrees           260.50   262.00    1.50      0.63        0.988
    -------------------------------------------------------------------------
                              156.10   157.60    1.50      0.68        5.709
              -63      309.0  -----------------------------------------------
            degrees           256.35   261.75    5.40      2.45       13.554
    WD-163  -----------------------------------------------------------------
                including     257.80   260.80    3.00      1.36     22.982(*)
    -------------------------------------------------------------------------
    

    (1) Approximate true length based on drill hole inclination but not
    accounting for plunge of zone.
    (2) Length-weighted averages.
    (3)(*) signifies metallic screen assay.


    Figures 1 and 2: http://www.goldenbandresources.com/figureOct22.html





For further information:

For further information: Golden Band Resources: Rodney Orr, President,
(306) 955-0787 extension 13, rodney.orr@goldenbandresources.com; Motivia
Communications: Roger Francis, (306) 242-0694, toll free: 1-866-501-5651,
info@goldenbandresources.com

Organization Profile

Golden Band Resources Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890