GBN: TSX Venture Exchange
SASKATOON, Sept. 10 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to provide an update on its development-related and exploration
activities for its gold projects in the La Ronge gold belt of northern
DEVELOPMENT: ENGINEERING, LICENSING, AND PRE-FEASIBILITY STUDY
Full Pre-Feasibility Study Underway
Based on the Company's positive Preliminary Economic Assessment (see news
release of February 26, 2008), Golden Band has now commenced a full
pre-feasibility study on a portion of the La Ronge Gold Project - namely the
first four years of operations using mill feed from the Bingo, Komis, and EP
gold deposits. The resource model for the Bingo deposit will be updated with
the latest assay data and information from the recently completed underground
exploration project, and will be vital in establishing a reserve estimate for
that deposit (see news release of June 19, 2008). It is expected that results
from the updated study will be available by the end of October 2009.
With respect to the Company's development work on its La Ronge Gold
Project, Golden Band is preparing work contracts for activities scheduled to
commence during the month in preparation of the main refurbishment and
expansion work scheduled to commence on the Jolu mill in March 2009. These
- Installation of propane storage facilities, and refurbishment of
heating units within the mill and crusher buildings;
- Refurbishment of the mill and crusher building overhead cranes;
- Removal and refurbishment of the primary jaw crusher;
- Tracing of electrical circuits and testing of all electrical
equipment including motors, starters and transformers;
- Brush-cutting and clearing of the site access road; and
- Screening and placement of waste rock to upgrade the access road
Gary Haywood, VP Operations and COO, stated, "We have already undertaken
a significant portion of the electrical test-work and are very pleased that
most of the equipment is in good operational condition."
EIS Nearing Completion
The Company is in the final stages of preparation of an Environmental
Impact Study (EIS) for the La Ronge Gold Project. This document will be
submitted to the Province in September and will reflect the Company's plan to
deposit mill tailings in an Above Ground TMF while the provincially licensed
Mallard TMF undergoes Federal assessment and approval according to Schedule 2
of the Metal Mining Effluent Regulations (see news release of June 24, 2008).
Bingo Gold Deposit and Area
A diamond drill and exploration crew were mobilized to the Bingo site on
August 14th and the surface exploration program is now well underway (see news
release of August 6, 2008). The summer/fall surface exploration program in the
Bingo area includes a drill program of up to 4,000-metres, approximately
100 line-kilometres of Soil Gas Hydrocarbon (SGH) sampling, prospecting,
prospect evaluation, and additional drill target generation.
The intent of the surface drill program is to test the down-plunge
continuation of the high-grade gold mineralization and to upgrade existing
inferred resources to the indicated category by in-fill drilling areas where
existing drill spacing is inadequate. The upgraded resource will be used as a
basis for a reserve estimation and pre-feasibility study and, if successful,
the deep drilling would increase the size of the resource.
Historic records indicate that numerous gold showings, and soil and bulk
till gold anomalies exist in the general area of the Bingo gold deposit. A
team of geologists, prospectors and samplers will further explore these
existing anomalies with the intent of generating additional, high-grade drill
targets. A SGH sampling program will form part of this exploration program.
This method has provided favourable results on some of the Company's other
properties (e.g. RKN Zone) and is a relatively new technology that was not
available during past exploration of Bingo.
Jolu-Alimak-Decade Gold Deposits and Area
Exploration permits have been received and a second diamond drill and
crew will mobilize in early September.
The summer/fall surface exploration program at the Jolu area will include
a drill program of up to 3,500 metres, SGH sampling, prospecting, prospect
evaluation, and new target generation.
The intent of the drilling program is to confirm the existence and extent
of the near-surface Alimak Zone at the formerly producing Jolu Gold Mine, to
test for the down plunge continuation of the high-grade gold mineralization at
the former Decade Gold Mine, and to test the extent of the newly discovered
Hangingwall Zone near Decade (see February 7, 2008 news release).
Historic records indicate numerous higher-grade gold showings exist in
the general area of the Jolu and Decade gold deposits. Our team of geologists,
prospectors and samplers will further explore these existing anomalies with
the intent of generating additional drill targets. A SGH sampling program will
form part of this exploration.
Weedy Lake Area (RKN Zone, Golden Heart Gold Deposit)
Applications for exploration permits and road upgrading have been filed
with regulatory authorities and exploration planning is in progress.
The summer/fall/winter surface exploration program in the Weedy Lake area
(e.g. Golden Heart Gold deposit, RKN Zone, A-Zone, etc.) will include a drill
program of up to 4,000-metres, SGH sampling, prospecting, prospect evaluation,
and new drill target generation.
The intent of the drilling program is to determine the orientation and
extent of the newly discovered high-grade RKN Zone (see news release of
June 26, 2008), and to test for the continuation of high-grade gold
mineralization at depth and to the southwest at the Golden Heart gold deposit.
This information will be used to generate an updated geological model and
resource estimation that will focus on the high grade portions of the Golden
Heart deposit to determine if these high grade veins can be mined with
underground mining methods.
Historical records indicate that numerous gold showings exist in the
Weedy Lake area (e.g. 25 Zone, McKenzie Prospect, Dy Occurrence, No Dirt
Showing, A-Zone) so a team of geologists, prospectors and samplers will
further explore some of these existing showings with the intent of generating
additional drill targets. Last year's successful SGH sampling will be extended
to the east, northeast and southwest along the projected extensions of the 6/6
SGH Anomaly (RKN Zone).
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
10 known gold deposits, four 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 expanded Preliminary Economic Assessment (scoping
study) on February 26, 2008 (filed on SEDAR on April 10, 2008). Longer-term
objectives include production from the Company's other deposits and 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 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:
firstname.lastname@example.org, www.goldenbandresources.com; Motivia
Communications: Roger Francis, (306) 242-0694 x5, Toll free: 1-866-501-5651,