GBN: TSX Venture Exchange
SASKATOON, Nov. 6 /CNW/ - Golden Band Resources Inc. (the "Company";
GBN: TSXV) is pleased to announce the start of its 2007 fall exploration
program in the La Ronge gold belt of northern Saskatchewan.
A drill crew has been mobilized to the former Decade gold mine area to
commence a 1,500 m drill program designed to test for the continuation of
shallow, high-grade gold mineralization below the existing underground
development. The Decade mine workings are only 275 metres from the Company's
Jolu gold mill, and 600 metres from the former Jolu gold mine, all 100%-owned
by Golden Band. Golden Band plans to re-start gold production in the La Ronge
gold belt using its Jolu mill and the potential availability of nearby and
shallow, high-grade gold resources is a very attractive, near-term exploration
Golden Band holds the mineral titles to most of the land that was
previously held by a number of competing companies and joint ventures in this
very prospective, past-producing, Jasper-Star Lake-Jolu-Decade gold camp. The
Jolu mine produced 203,571 ounces of gold at an average grade of
0.42 oz/ton Au or 14.4 g/t Au from 520,527 tons (472,200 t) from 1988 to 1991.
The former Star Lake mine, only 1.6 km away from Jolu, saw 76,947 ounces of
gold produced from 180,291 t at an average grade of 0.43 oz/ton Au or
14.7 g/t Au during 1987 to 1989. The former Jasper (Fork Lake) Mine
(82,697 ounces produced in 1990-1 from 140,127 t averaging 0.55 oz/ton Au or
18.8 g/t Au) is only six km away.
A recent review by Golden Band of the historical files in its database
for the area around the Jolu Mill notes the existence of high grade gold
mineralization plunging to the west below the existing underground workings at
the Decade Mine. Drillhole values of up to 28.5 g/t Au over 6.9 m down hole
(interpreted true width of 3.0 m) and 39.0 g/t Au over 4.4 m down hole
(interpreted true width of 2.2 m) are reported on Decade mine cross- and
longitudinal sections. The gold mineralization at Decade is known to host
bonanza style gold grades that are complex and have an extreme nugget effect.
The Decade area was discovered in 1944 and saw limited underground
operations in the 1970's and 1990's. The deepest portion of the existing
development is approximately 50 m below surface and certain portions of the
gold mineralization were drill tested in the 1990's to about 100-150 m below
surface. The existing portal entrance to the Decade underground development is
located about 275 m from the Jolu Mill.
The intent of this drill program is to confirm the existence of this
high-grade gold mineralization by drilling between existing drillholes, and to
get an indication of the variability of the gold grades. The drilling portion
of this exploration program is expected to be completed by mid-December 2007.
A number of geochemical and geophysical anomalies and several gold showings
that have significant drillhole intersections also occur within 1 to 2 km of
the Jolu mill. Future exploration of this area will focus on places most
likely to host high grade gold mineralization.
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
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, 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 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: