SASKATOON, Sept. 8 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to announce the discovery of two new gold showings within its 100%
owned claims at Waddy Lake, near the Company's Komis and EP gold deposits.
These new showings, named Thunder and Lightning, are located five kilometres
south of the Komis deposit in the La Ronge Gold Belt of northern Saskatchewan.
Both showings resulted from follow up of previously discovered gold-in-till
anomalies as part of the previously announced summer exploration program (news
release of June 23, 2009).
The Thunder showing is located at the 100-metre wide apex of a very
strong gold-in-till dispersion train with up to 60 gold grains (per kilogram
of till), accompanied by up to 1,600 ppb gold in the fine fraction of the bulk
till sample. A number of auriferous boulders were also recovered from the till
sample pits, with one rusty quartz boulder assaying 127.8 g/t gold (3.73 oz/t
gold). Two initial drillholes (EK-03 and EK-04) intersected low-grade gold
mineralization in silicified andesitic volcanics within a pyritic zone,
grading between 0.63 and 1.02 g/t gold over 6.8 and 5.6 metres, respectively.
It is interpreted that these two holes just missed the expected mineralized
source for the anomalies. Follow-up drilling is planned during September 2009
to establish the potential for this very encouraging new showing.
The Lightning showing is located about 200 metres from the Thunder
showing; is within the same dispersion train as the Thunder showing; and was
discovered by prospecting. It is hosted by an andesitic debris flow and a
NW-striking fault. Several cross cutting auriferous quartz veins up to 20
cm-wide are exposed on surface over several metres. One drillhole (EK-02)
tested this showing and found a several-metres wide feldspar porphyry dyke
associated with a quartz breccia zone. The auriferous zone was confirmed over
five metres in the drillhole (from 34.2 m to 39.2 m) averaging 3.88 g/t gold,
with the highest assay being 13.51 g/t gold over 0.4 metres within the
brecciated quartz vein. Follow-up drilling is planned for later this month.
At the Charlie's Eye prospect, seven additional drillholes were completed
(CE-35 to CE-41) totalling 517 m. This prospect is located two kilometres
north of the Komis mine site and was the subject of several drilling campaigns
between 2004 and 2006. The gold mineralization is hosted by a 2 to 6 metres
wide pyritized quartz breccia zone striking northwest and dipping about 30
degrees SW. The host rocks are volcanics and diorite, with the quartz breccia
zone intersecting the faulted contact between these two rock units. The area
of intersection is where gold grades show marked improvement. Drillhole CE-39
returned 5.72 g/t gold over 4.5 metres during the current campaign. The
Charlie's Eye prospect is now confirmed over 150 metres east-west and 100
metres north-south, with grades between 2 and 6 g/t gold and widths of 2 to 7
metres. Similar values were obtained during the current campaign. No
additional work is planned this season, but the contact area between the
diorite and the volcanics warrants further testing.
Deep drilling has started at the Bingo deposit where a 5,000-metre
program began on August 4 to test the down-plunge and on-strike continuation
of the high-grade gold mineralization at Bingo. The objective is to enlarge
this high-grade Inferred category resource, now containing an estimated
155,074 tonnes grading 13.89 g/t gold, and to increase the confidence level
about the grade and the structural continuity of this gold mineralization.
Should this drilling program be successful, near-term follow-up would include
additional underground exploration with the objective of converting the
additional Inferred category resources at depth to the Measured + Indicated
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; Wani Capital Corp.: Raju Wani, (403)
240-0555; Email: email@example.com; www.goldenbandresources.com