GBN: TSX Venture Exchange
SASKATOON, June 23 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to announce the following exploration activities for the Company's La
Ronge Gold Project.
Bingo Deposit Drilling
A 5,000-metre drill summer drilling program is planned to start in July.
Nine drillholes will test the down-plunge and on-strike continuation of the
high-grade gold mineralization at Bingo (see previous news releases of
November 26, 2008 and May 26, 2009). This program will see 50-metre step-out
holes from known high-grade mineralization at vertical depths of up to 450
metres. The objective is to enlarge this high-grade Inferred category
resource, now containing an estimated 155,074 tonnes grading 13.89 g/t Au, and
to increase the confidence level about the grade and the structural continuity
of this gold mineralization. In addition to testing deeper mineralization at
Bingo, four drillholes will also test for the deeper continuation of gold
mineralization at the Bingo deposit's Cockrum zone (see news release of May
EP Deposit Riddle Till Gold Resource Definition
A bulk till sampling program is now underway to define the gold grade
within the till that extends over 600 metres down-ice of the EP gold deposit
(see previous news release of November 28, 2003). The intent is to determine
the economic viability of recovering the gold contained in the till as part of
the Company's planned mining operations at the EP and nearby Komis deposits.
Mining at EP is already planned for both the high-grade supergene gold
mineralization and the underlying primary gold (see news release of September
26, 2006 for information on the types of mineralization).
Upper Waddy Lake/Earl-Kidney Area Sampling and Drilling
Bulk till sampling, geological mapping, and prospecting are planned on
known gold anomalies in the Earl-Kidney area, with the objective of
determining a drilling target for subsequent testing. Follow-up drilling will
also be carried out in the Charlie's Eye Crossing prospect (see news release
of January 17, 2008), with up to 1,000 metres being considered for this area.
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 of commercial production of its Bingo, Komis, and EP
deposits with processing at the 100%-owned Jolu mill. The Company's objective,
supported by a positive Pre-Feasibility Study completed in January 2009, 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 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, 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 disclaims
any intent and 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.
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.
For further information:
For further information: Rodney Orr, President & CEO, Golden Band
Resources Inc., Phone: (306) 955-0787 x7123, Fax: (306) 955-0788, Email:
firstname.lastname@example.org, www.goldenbandresources.com; Wani Capital
Corp.: Raju Wani, (403) 240-0555, Email: email@example.com