GBN: TSX Venture Exchange
SASKATOON, Sept. 24 /CNW/ - Golden Band Resources Inc. (GBN: TSXV)
announced that it has submitted a proposal to Saskatchewan Environment for the
operation of four gold mines on the Company's 100%-owned Bingo, Komis, EP, and
Tower East gold deposits, and for the treating of the ores at the Company's
Jolu gold mill.
"With this important step in the regulatory process underway, Golden Band
is clearly moving forward on its Path to Production and is further
demonstrating its commitment to the re-starting of gold production in the La
Ronge Gold Belt." said Rodney Orr, President and CEO of Golden Band.
In its project proposal to the provincial regulators, Golden Band
outlined the development of mining operations based on a centrally located
mill and satellite mines at four of its existing deposits, with three open pit
mines and one underground mine. The anticipated life of the project is up to
10 years, with up to 2.2 million tonnes of ore being processed. The planned
open pit operations are the Komis/EP mine, and the Tower East mine. Tower East
would be mined after the Komis ore is depleted. Bingo would be mined as a
high-grade underground deposit during the first 2 years of the operations.
These operations are the focus of the Company's expanded scoping study
(Preliminary Economic Analysis) for mine development that was announced on
August 13, 2007. This updated and expanded scoping study is expected from the
Company's consulting engineers by year-end 2007.
The centre of operations for the "Jolu Central Mill Gold Project" will be
the Golden Band's 100%-owned Jolu mill site. The mill's capacity will be
increased from 400 tonnes per day (tpd) to at least 700 tpd. This would allow
the economic processing of lower grade ores in combination with higher-grade
ores and provide a base load for long-term sustainable operations. The Jolu
mill's process flow sheet will follow the original design of an
industry-standard carbon-in-pulp flowsheet with a gravity separation circuit.
The province's Environmental Assessment Branch has notified the Company
that they are preparing project-specific guidelines to assist with the conduct
of the environmental impact assessment and the preparation of the
environmental impact statement (EIS). The draft guidelines are expected to be
available to the Company and to the public by December 2007. We have been
advised by the provincial regulators that the entire review process may take
from 12 to 18 months to complete, starting from the proposal submission date
of July 12, 2007. Based on this, Golden Band anticipates the receipt of its
development permits by December of 2008 at the latest and a start-up of
production in early 2009.
Gary Haywood, VP of Operations noted "Golden Band has anticipated this
requirement from the regulators and has been working closely with Canada North
Environmental Services for several years to collect the environmental baseline
data required for the EIS. Our historical database from previous operations
will be invaluable for the environmental impact study, and we feel confident
that Golden Band's proposed project can be operated with sound environmental
practices. We are committed to working with our northern neighbours to ensure
that the traditional land uses are respected, and we will be conducting
community information meetings in October."
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, EP,
and Tower East deposits with processing at the Company's 100%-owned Jolu mill.
Longer-term objectives include production from the Company's other deposits
and the continuation of its highly successful strategy of exploration and
On behalf of the Board of Directors of
Golden Band Resources Inc.,
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 by Golden Band Resources Inc. may contain certain
forward-looking information. Actual results may differ material y 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: Please note the new Toll Free phone number for
Golden Band is 1-866-501-5651; Golden Band Resources Inc.: Rodney Orr,
President, (306) 955-0787 extension 13, email@example.com;
Motivia Communications: Roger Francis, (306) 242-0694, toll free: