Bingo drilling update, near-surface gold zone discovered
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SASKATOON,
The 188 Zone is hosted within a highly silicified shear that hosts local gold grades of up to 31.58 g/t Au over 1.0 m and extends from near surface to a down-hole depth of 16.5 m (see Figure 1 - http://www.goldenbandresources.com/figure1Dec10.html for a plan view and location map, and Table 1 for assay results). Follow up drilling to test the extent of the 188 Zone is planned.
Figure 1 - http://www.goldenbandresources.com/figure1Dec10.html - Plan view of the Bingo gold deposit block model with gold grade values colour coded according to the legend and the projected orientation of the new "188 Zone" displayed by a black dotted line. The 188 Zone occurs in an area that has no historic drill holes or gold showings and represents a potential en-echelon structural duplication of the main Bingo Zone. Follow up drilling is warranted to confirm the orientation of this new gold zone and to test its size and extent.
Table 1 - Most significant gold assay values from 2 high-grade zones hosted within a broader (down hole width of 16.5 metres) mineralized zone termed here the "188 Zone". WD-188 and WD-188A were stopped after about 35-38 metres because down hole surveys indicated they were not within acceptable tolerance of the planned drillhole orientation. However, the 188 Zone was sampled in these two aborted holes and the grade variation between these closely spaced samples indicates the high nugget nature of the gold mineralization.
------------------------------------------------------------------------- Weighted Azimuth Drillhole From To Interval Avg Drillhole Zone /Inclination Depth (m) (m) (m) (m) (g/t Au) ------------------------------------------------------------------------- WD-188 1 103.5 degrees/ 38.7 6.0 7.5 1.5 0.91 -65 degrees ------------------------------------------------------------------------- 2 10.6 11.5 0.9 10.02 ------------------------------------------------------------------------- WD-188A 1 98.3 degrees/ 34.8 6.2 8.2 2.0 21.7 -65 degrees ------------------------------------------------------------------------- 2 10.3 12 1.7 1.23 ------------------------------------------------------------------------- WD-188B 1 90.6 degrees/ 790.4 7.2 8.7 1.5 6.90 -66 degrees ------------------------------------------------------------------------- 2 11.7 13.4 1.7 7.76 -------------------------------------------------------------------------
Drillhole WD-188B successfully intersected the down-plunge of the Bingo mineralized structure, comprised of quartz vein-bearing sheared intermediate volcanic rock returned anomalous Metallic Screen assays of up to 1.16 g/t gold over 0.7 m (630.0-630.7 m). An updated resource estimate for the Bingo deposit incorporating the 2009 drilling will now be undertaken.
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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 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
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For further information: Golden Band Resources Inc., Rodney Orr, Vice President, Phone: (306) 955-0787 x7123, Fax: (306) 955-0788, Email: [email protected]; Wani Capital Corp.: Raju Wani, (403) 240-0555, Email: [email protected], www.goldenbandresources.com
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