GBN: TSX Venture Exchange
SASKATOON, Feb. 3 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to provide an update on the 2008 fall exploration program on the
Company's RKN and Golden Heart area exploration located in the La Ronge Gold
Belt of northern Saskatchewan.
Diamond drilling on the project commenced on November 15th and 1404.36m
was completed on November 30th, 2008 (see previous news releases of September
10, 2008, October 21, 2008 and November 26, 2008).
This exploration program included three step-out drillholes (600.3 m),
RKN-09-08; RKN-10-08; RKN-11-08, (see Figure 1 for drillhole locations:
http://www.goldenbandresources.com/03-02-09-fig5.cfm) along the projected
strike of the RKN Zone that was first identified in the winter of 2008 (see
news release of April 16, 2008). These holes were designed to help determine
the strike and dip of the mineralization encountered in drillholes RKN-06-08,
RKN-07-08 and RKN-08-08 drilled earlier this year (see news release of June
26, 2008) and historic drillhole W84-40 which intersected 29.9 g/t Au over
0.9m and 10.0 g/t Au over 1.0m. A total of 449 core samples (including assay
standards) were submitted for assaying and all of the results have been
received, excluding the normal check sample results that will be sent to a
second lab as a quality assurance measure. Assay highlights are in Table 1
(see Company website: http://www.goldenbandresources.com/03-02-09-table3.cfm).
An RKN Zone-type mineralization setting occurs in drillhole RKN-10-08
from 99.9 m to 129.85 m and in RKN-11-08 from 100 m-130.93 m (intervals
represent down hole depths), as indicated by the anomalous assay results.
Drillholes RKN-10-09 and RKN-11-08 suggest that the RKN Zone continues to the
northeast, has a minimum strike length of 100 m, is potentially of significant
width (in both cases approximately 30 m down hole width), and is open to the
northeast and to depth. The existence of coarse gold and the extreme nuggety
nature of this style of gold materialization as seen in the initial drillholes
could help explain the large grade variability's between drillholes. Follow-up
work is warranted.
Golden Heart Deposit
Four infill holes (totalling 804.06 m; W08-146 to W08-149) were drilled
on the Golden Heart Deposit to increase the level of confidence in the
continuity of the near surface higher-grade gold mineralization in the
northeast portion of this gold deposit. This information will be used for
possible future development planning of the deposit (see Figure 1 for
drillhole locations: http://www.goldenbandresources.com/03-02-09-fig5.cfm).
Assays from 497 core samples (including assay standards) have been received
from ALS Chemex and these indicate that all four drillholes intersected gold
mineralization with grades and widths that are consistent with the current
geological model (assay highlights are included in Table 1:
http://www.goldenbandresources.com/03-02-09-table3.cfm). Upon receipt of the
assay results it was discovered that 3 addition samples from drillhole W08-148
and 17 additional samples from drillhole W08-149 were required to test for the
existence of possible gold mineralization around samples existing results. The
final results from this program will be released once these results are
The assay results based on the standard fire assay method utilizing a 1
kg sample derived from approximately 3 kg of split NQ drill core and
utilization of a 50g standard fire assay charge. The final results for this
program will include check assay results of the significant intervals and
screened metallic assay results for the significant intervals. All widths
listed represent the down hole length of the interval and not the true width.
The quality assurance/quality control of the assay results is monitored
by a series of sample standards and sample blanks which are routinely inserted
by Golden Band into the sample sequences that are consigned for assaying to
ALS Chemex Laboratory located in Vancouver, British Columbia. ALS Chemex is an
ISO/IEC guideline 17025 accredited facility. The check-assays will be
performed by TSL Laboratories located in Saskatoon, Saskatchewan which is also
an ISO/IEC guideline 17025 accredited facility.
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is
now poised to also become a gold producer. Golden Band 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 12
known gold deposits, five 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
to becoming a sustainable gold producer. The Company is aggressively pursuing
its near-term goal for the development and production of its 100%-owned Bingo,
Komis, and EP deposits with processing at the 100%-owned Jolu mill - a project
that received a positive Pre-Feasibility Study (see news release of January
20, 2009). Longer-term objectives include production from the Company's other
deposits and the continuation of its highly successful exploration and
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, 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
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 materially affect the actual results
achieved by the Company. Potential and current shareholders are cautioned not
to place undue reliance on forward-looking information. The Company undertakes
no obligation to update publicly or otherwise revise any forward-looking
information whether as a result of new information, future events, or other
such factors that may affect this information, except as required by law.
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: Rodney Orr, President & CEO, Golden Band
Resources Inc., Phone: (306) 955-0787 x7123, Fax: (306) 955-0788, Email:
email@example.com, www.goldenbandresources.com; motivia
communications: Roger Francis, (306) 242-0694 x5, Toll free: 1-866-501-5651,