GBN: TSX Venture Exchange
SASKATOON, Dec. 17 /CNW/ - Golden Band Resources Inc. (GBN:TSXV) is
pleased to announce that it has received the first resource estimate prepared
by an independent consultant for the Company's Birch Crossing gold deposit,
located in the La Ronge Gold Belt of northern Saskatchewan. The Birch Crossing
deposit is estimated to contain an Inferred Mineral Resource of 536,000 tonnes
grading 5.11 g/t gold at a cut-off of 2 g/t gold which could potentially be
extracted by open pit methods. Using a higher cut-off of 7.5 g/t gold for an
underground mining scenario, the deposit contains an Inferred Mineral Resource
of 78,600 tonnes averaging 10.32 g/t gold.
Birch Crossing Gold Deposit Mineral Resources
Inferred Resource Category
(2 g/t gold cutoff)
Tonnes Grade, g/t Gold Gold, Ounces
536,300 5.11 88,100
Ronald G. Simpson, P.Geo., principal of Geosim Services Ltd., completed
the resource estimate for the project and is an independent qualified person
as defined by NI 43-101. Mr. Simpson has read and approved the contents of
this news release. A detailed NI 43-101-compliant technical report will be
completed and filed on SEDAR within 45 days. Mineral resources are not mineral
reserves and by definition do not demonstrate economic viability. Golden Band
is not aware of any issues that may materially affect its estimates of mineral
"Golden Band is especially proud to announce this latest addition to our
gold resource inventory as it again proves our exploration team's ability to
discover entirely new deposits within a past-producing gold camp that has seen
considerable historical exploration", said Company President, Rodney Orr. Gary
Haywood, Chief Operating Officer, added that "The resources contained, and the
potential for additional increases, are a significant addition to the
inventory of higher-grade deposits that may be considered for development as
Golden Band advances its development projects". This was echoed by Frank Hrdy,
VP Exploration, who also recognizes "The hard work of our staff and our
demonstrated ability of our gold-in-till exploration method to identify the
new exploration targets that are vital to maintain the needed pipeline of
potential development targets."
Estimation Methodology & Quality Control
These mineral resource estimates were prepared pursuant to Canadian
Institute of Mining (CIM) Standards on Mineral Resources and Reserves,
prepared by the CIM Standing Committee on Reserve Definitions and adopted by
the CIM Council December 11, 2005 and published in the CIM Bulletin of
November 2005 and compliant with National Instrument 43-101 - Standards of
Disclosure for Mineral Exploration and Development and Mining Properties.
Numbers have been rounded subsequent to calculation.
Resource estimation was constrained by a three-dimensional solid model
developed from geological and analytical data. Block size was 5x5x5 metres and
grade estimation was carried out by the inverse distance squared method
(ID(2)) using 3-metre downhole composites. Composites from 365 assay intervals
from 31 of the core holes were used in the resource estimation. Blocks were
estimated in one pass using a maximum search distances of 50 metres. A topcut
of 120 g/t gold was used prior to compositing and samples grading in excess of
50 g/t gold were limited to a 7.5 metre range of influence. Tonnages were
calculated using an average specific gravity of 2.72 grams/cm(3) based on 16
measurements taken on mineralized samples from the nearby Tower East deposit.
In order to be estimated, a block was required to have at least 3 composites
within a radius of 50 metres. All blocks were classified as inferred.
Assay intervals of split NQ core for pre-2007 drilling were generally
taken on standard 1-metre lengths or less if geologic/mineralized contacts
were encountered. The 2007 standard assay interval was 1.5 metres or less
based on geologic intervals. Three different reference standard pulps with
known gold values were inserted into the sample sequence at the approximate
rate of one in every 28 core samples. Sample blanks (no measurable gold) were
inserted into the sample sequence at the rate of one in every 39 core samples
to monitor laboratory performance as part of the Company's quality
control/quality assurance program. Gold was determined by standard fire assay.
The metallic screen assay method was used in 78 instances where high grades
were encountered or coarse gold was observed or suspected. Analytical work was
conducted at the Saskatchewan Research Council (SRC), which is an ISO/IEC
17025 accredited laboratory for mineral analysis testing located in Saskatoon,
Saskatchewan, and by Accurassay Laboratories of Thunder Bay, Ont., an ISO/IEC
guideline 17025 accredited facility. The ALS Chemex Laboratory in Vancouver
(ISO 9001:2000 certification) was also used as a secondary check lab in 2007.
Birch Crossing Deposit and Gold Mineralization
This 100%-owned deposit is located 22 km north-northeast of Golden Bands
100%-owned Jolu gold mill and licensed tailings facility. To date, 89 diamond
drill holes (9,735 m) have been completed on this property by Golden Band
Resources (see previous news releases of May 14, 2007, March 12, 2007,
December 6, 2006, April 11, 2006, March 2, 2006, February 27, 2006, April 5,
2005, February 21, 2005, and April 23, 2004).
The area contained within the current resource estimate is 100 x 170
metres and to a maximum depth of 210 metres. Gold mineralization is confirmed
by drilling to a vertical depth of at least 205 metres. The deposit remains
open at depth and along strike to the west. Two distinct types of
mineralization have been identified at Birch Crossing. Of chief importance are
the Red Cube quartz veins. These comprise sub-vertical to steeply dipping
zones of auriferous quartz veining with characteristic oxidized subhedral
pyrite which occupy a 50-100 m wide structural corridor within the Byers
Tectonic zone. The veins form dilatant zones of brittle fracture infilling
which occupy the contact zone between intrusive and volcanic rocks throughout
the prospect area. The mineralization is accompanied by potassic alteration
consisting of albite-biotite-carbonate-hematite and pyrite which envelope the
quartz veins in a variable, low-high grade envelope of gold mineralization on
the order of 0.5-5 g/t Au/1.0 m. The quartz veins themselves are seen to
contain high-grade grade intercepts (200-600 g/t Au over 30 cm to 1 m)
associated with coarse clots and cubes of oxidized pyrite and rare
chalcopyrite. A minimum of three sub-parallel quartz veins have been
identified, termed from south to north the Red Cube South, Red Cube North and
Red Cube North-2 zones, which range from 160 to 260 m in length. The second
type of mineralization, termed the Alder zone, consists of shear zone-hosted
low grade gold and pyrite mineralization occurring over broad intervals, on
the order of 1.7 g/t Au/18.2 m. The Alder zone mineralization occurs
preferentially within the volcanic rocks, and is concentrated at a dilational
jog of the Byers Fault.
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 has 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 exploration and acquisition
On behalf of the Board of Directors of Golden Band Resources Inc.,
"Rodney G. Orr"
Rodney G. Orr, P.Geo., President & CEO.
This Mineral Resource was estimated by Ron Simpson, P.Geo. who is the
Qualified Person for the Resource Estimation as set out in National
Instruments 43-101. The exploration program was carried out under the
supervision of Ron Avery, P.Geo, 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.
For further information:
For further information: 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: