GBN: TSX Venture Exchange
SASKATOON, Oct. 26 /CNW/ - Golden Band Resources Inc. (GBN:TSXV) announced today the drillcore assay results of its newly discovered Thunder and Lightning gold showings.
The Company is pleased to report drillhole EK-7, with visible gold present, returned 112 g/t gold over 0.3 m within an overall intersection grading 6.62 g/t gold over 10 metres. A summary of the Standard Fire assays results follows:
Thunder Gold Showing
Previously announced (October 8, 2009):
- EK-3 45.4 m to 51.0 m: 1.02 g/t gold over 5.6 m (Thunder Main Zone)
- EK-4 26.3 m to 33.0 m: 0.63 g/t gold over 6.75 m (Thunder Main Zone)
New assay results:
- EK-5 9.35 m to 15.7 m: 2.90 g/t gold over 6.35 m (Thunder South
- Including 13.35 m to 13.70 m: 42.49 g/t gold over 0.35 m (with
- EK-6 41.0 m to 51.0 m: 0.46 g/t gold over 10.0 m (Thunder Main Zone).
- EK-7 38.0 m to 48.0 m: 6.62 g/t gold over 10.0 m (Thunder Main Zone);
- Including 44.0 m to 44.3 m: 112.0 g/t gold over 0.3 m (with
- Including 42.0 m to 48.0 m: 10.4 g/t gold over 6.0 m;
- Including 42.0 m to 44.0 m: 21.7 g/t gold over 2.0 m; and,
- Including 47.0 m to 48.0 m: 16.8 g/t gold over 1.0 m.
- EK-8 66.0 m to 79.0 m: 0.30 g/t gold over 13.0 m (Thunder Main Zone).
- EK-9 No significant assay results.
All samples reporting over 5 g/t gold in the Standard Fire assay results will be re-assayed using the Metallic Screen fire assay method.
Quartz-pyrite breccia zones host the mineralization in all zones. The Thunder showing has now been drill-tested by seven drillholes over a strike length of about 50 metres.
Lightning Gold Showing
The Lightning showing was tested with two holes drilled from opposite
- EK-2 34.2 m to 39.3 m: 3.88 g/t gold over 5.1 m (announced
September 8, 2009).
- EK-10 75.0 m to 78.0 m: 1.41 g/t gold over 3.0 m.
Golden Band is encouraged by these two new discoveries and further exploration is warranted on these zones as well as other gold-in-till anomalies, all within close vicinity. These showings are located about five kilometres south of the Komis gold deposit, within 1.5 kilometres of the mine access road. They are about 200 metres apart and were discovered by following up gold-in-till anomalies with diamond drilling (see previous news releases of September 8 and October 8, 2009).
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is now poised to become a gold producer. Golden Band is a 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 100,000 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 Instrument 43-101.
Cautionary Statements on Forward-Looking Information: The news release includes certain "forward-looking information within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements")." All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, and future plans and objectives of Golden Band are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
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.
SOURCE Golden Band Resources Inc.
For further information: For further information: Golden Band Resources Inc., Rodney Orr, President & CEO, 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