GBN: TSX Venture Exchange
SASKATOON, Jan. 13 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is very pleased to provide this
progress update for the Company's 100%-owned La Ronge Gold Project in
Jolu Mill Operation - 15.9 Kilogram Gold Pour Achieved
Golden Band Resources produced the first doré gold bar at the Company's
Jolu mill on January 12, 2011. This initial 15.9 kg (approximately 500
troy ounces) gold bar was produced from high-grade ore mined at the
Company's 100%-owned Roy Lloyd Mine (Bingo Deposit) and processed
through the gravity circuit of the mill.
Ronald Netolitzky, Executive Chairman, reports, "It has been a long time
in coming, but our path to production has now been realized, and the
goal of becoming Saskatchewan's newest gold producer has been achieved.
We look forward with great optimism to a successful future for Golden
Band and to growing the La Ronge Gold Project over the next several
years to achieve our longer-term goal of producing 100,000 gold ounces
per year. With this major milestone accomplished, I also want to extend
our great thanks to everyone in Golden Band who worked to achieve this
momentous event, to our many partners who provided immense help and
support, and to our shareholders."
The Jolu Mill is comprised of gravity and carbon in pulp (CIP) circuits.
The mill has been processing ore since December 23, 2010 (see previous
news release of December 23, 2010). Processing of the gravity
concentrate was delayed due to minor technical malfunctions in some of
the newly installed equipment that have now been rectified. Leaching of
gold in the CIP circuit is progressing as planned and will contribute
to subsequent gold production. Over the next month, plant operation
will continue to troubleshoot and rectify any issues that arise as the
Company anticipates achieving steady state throughput of 400 tonnes per
day during Q1, 2011.
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is
now its newest 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 km2, including twelve known gold deposits, four former producing gold
mines, and the licensed Jolu 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
Bingo, EP, Komis, and Golden Heart gold deposits, with processing at
the 100%-owned Jolu mill. 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.,
"Ronald K. Netolitzky"
Ronald K. Netolitzky, Executive Chairman
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 planned development, potential mineralization, interpretation
of prior exploration and potential exploration results, the timing and
success of potential financing, development and 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
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.
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