SASKATOON, Oct. 10 /CNW/ - Golden Band Resources Inc. (GBN:TSXV) is
pleased to provide an update on its 2007 summer exploration and
development-related programs. The various work areas are indicated on Figure 1
Bingo: As previously reported (see news release of September 20, 2007),
the drill program at the Company's 100%-owned Bingo gold deposit was completed
at the end of July. The intention of this drilling was to in-fill available
drill-indicated information and to convert the existing Inferred Resources to
Indicate Resources from surface to 100 m depth. Several areas were also
drilled to test for possible extensions of high-grade mineralization along
strike and to depth. Five hundred and eighty-two NQ-diameter (47.6 mm) core
samples were collected from 45 drillholes (3,407.4 m) of which 322 assays have
been received to date. A backlog of samples at the assay laboratory,
Accurassay Laboratories of Thunder Bay, Ontario, has delayed the reporting of
these drill results by over 8 weeks. Accurassay expects to deliver the
complete assay results, including metallic screen assays, to the Company by
mid-October. The assays will be reported after quality control/quality
assurance (QC/QA) reviews have been completed by the Company on all the data.
Oven Lake Area: The drill program at the Company's 100% owned Oven Lake
prospect was completed on August 8, 2007. The purpose of this program was to
test for the strike extension of gold mineralization grading 7.6 grams per
tonne (g/t) gold over 1.5 m in a structure adjacent to that hosting the
Company's 100%-owned Corner Lake gold deposit. Ninety-seven NQ-diameter core
samples were collected from 2 drillholes (153 m). The assays will be reported
after QC/QA reviews have been completed by the Company on these data.
EP Deposit: The drill program at the Company's 100%-owned EP gold deposit
was completed on September, 25, 2007. The purpose of this drill program was to
test for extensions of the gold mineralization to the east and along strike of
the deposit. Several holes were also drilled in areas where previous drilling
had poor core recoveries within high gold grade zones to test if the
high-grade gold zones are larger than indicated by previous drilling. Eight
hundred HQ-diameter (63.5 mm) core samples were collected from 43 drillholes
(1,630.7 m) for which no assay results have been received to date. All the
core samples from this program have been sent to TSL Laboratories in
Saskatoon. The assays will be reported after QC/QA reviews have been completed
by the Company on all the data.
Charlie's Eye Prospect: The drill program at the Company's 100% owned
Charlie's Eye gold occurrence was completed on October 6, 2007. The purpose of
this program was to test for the continuation of drill-intersected gold
mineralization grading 4.39 g/t gold over 5 m (see news release of April 19,
2007). Eight NQ-diameter drillholes were completed totalling approximately
240 m. All core samples from this program were sent to TSL Laboratories in
Saskatoon. The assays will be reported after QC/QA reviews have been completed
by the Company on all the data.
During the 2007 summer field season, 792 mechanized bulk till samples for
gold grain recoveries were collected along 22 sample profiles that required
approximately 17 km of trails and 33 km of traverse construction. Other
surface exploration activities included the collection of 853 soil gas
hydrocarbon soil samples, trenching and stripping of 2 gold showings,
8.7 line-km of grid line cutting, 34.7 km of grid line mapping, and 97
man-days of prospecting. Significant results are described below.
Bulk Till Sampling Program
A-Zone: 26 bulk till samples were collected from the already identified
A-Zone that is located north-northeast of the Komis/EP deposits area. The
purpose of sampling this area was to determine if this gold grain anomaly
exhibited traits of supergene gold mineralization, like those found in the
nearby EP gold deposit. The results from this sampling of the A-Zone area are
strongly anomalous, with samples containing up to 60 gold grains per kilogram
(gg/kg). The anomaly threshold in this region is on the order of 4 gg/kg.
Additional follow-up, including possible drill testing, is warranted.
Hound-Oval Lake areas: 336 bulk till samples were collected. One strong
gold grain anomaly was confirmed at the south end of Oval Lake with up to
13 gg/kg recovered. Significantly, all of these samples include gold grains
classified as irregular in shape, indicating that the transportation distance
of the gold grains from the source is relatively short. This area holds
additional interest because of its proximity to the southwestern extension of
the Oven-Corner Lake fault and the favourable prospecting samples found in the
area (see below). Further work is recommended for this area including
additional prospecting, follow up trenching, and detailed geological mapping.
Earl Lake and east of Corner Lake: 84 bulk till samples were collected.
Results include: up to 12 gg/kg. These anomalies require further till sampling
Loppe-Severson Lake Area: 322 bulk till samples were collected. Results
include several small anomalies of up to 8 gg/kg that confirms the Severson
Lake anomaly first found on a reconnaissance basis by the Company in
1995/1996. Additional work is warranted.
In addition to the in-field till processing of all bulk till samples for
gold grains, the fine fraction all 792 samples were also sent for assay as a
check for fine gold contents (less than 20 micron), which is below the
in-field detection limit for visible gold grains. These assay results are
still outstanding due to the backlog of assay samples at Accurassay.
Soil Gas Hydrocarbon Sampling Program
Soil gas sampling (SGH) was conducted in four prospect areas where
previous work had identified either gold deposits (e.g. Golden Heart) or areas
where a significant number of gold showings were clustered (e.g. Ginger
Showing and Hope Showing grid areas). At Golden Heart, 169 SGH samples were
collected in the area north of the B-Zone shear which hosts the Golden Heart
deposit to determine the presence of additional mineralized splays in areas of
poor to no outcrop. Another 579 SGH samples were collected on the Ginger
Showing grid east of Lower Waddy Lake where at least 17 gold showings have
been identified by past work. Thick lacustrine clay cover and poor bedrock
exposure make this an especially good target for soil gas work. Finally, 105
SGH samples were collected in the Discovery Point prospect area on Upper Waddy
Lake where visible gold in quartz veins are reported in several trenches
excavated by earlier workers in the area. Results from the SGH program will be
issued once the data have been reviewed by the Company.
Geological Mapping and Prospecting
Hope Prospect: The area around the Hope gold showing was mapped and
prospected. Rock grab samples assaying up to 56.2 g/t Au were recovered from
this area, with several samples in the 2-6 g/t Au range. The mineralized grab
samples were taken from a 1-m wide oxidized shear zone hosting pyrite,
chalcopyrite, and galena. A follow-up program is warranted.
Burnt Rock Showing: Mapping and prospecting was conducted in this area to
follow up to historic drillholes that intersected 1.3 g/t Au over 14.5 m and
0.6 g/t Au over 15.9 m. Assay results are still pending.
Hound Lake area: Several anomalous rock grab samples were returned from
the area south-southwest of Hound Lake. Assays of up to 4.8 g/t Au and 3.6 g/t
Au were received, with several other samples in the 0.6-1.0 g/t Au range. A
follow-up program is warranted.
BINGO UNDERGROUND EXPLORATION PROJECT
Mobilization to the Bingo site is proceeding as planned, with the first
shipment of heavy equipment including a front-end loader, underground
scoop-tram, and track dozer arriving on site. The access trail has been
upgraded sufficiently, including installation of a steel span bridge, to allow
equipment into site.
On October 4th, the company completed the drilling and blasting of the
boxcut as the first step in construction of the portal area of the Bingo
underground decline. The contractor, the Kitsaki/Procon joint venture, will
now proceed with ground support installation and commence preparations for
excavation of the underground decline.
JOLU GOLD MILL
The Company has completed the first phase of the Jolu mill refurbishment
project. Procon Industrial has pressure washed all areas of the crusher and
processing plant, and established genset power to the facility. An inspection
of the critical equipment of the plant was conducted by Wardrop Engineering,
in preparation for preliminary process design for the mill's refurbishment and
expansion. It is expected that in December 2007 the Company will receive
updated process flow data sheets, and recommendations for modifications to the
plant to achieve the production rate of 700 tonnes per day (tpd). On a visit
to Jolu last week, Gary Haywood, VP Operations & COO noted, "For a plant that
has not been operated for 10 years, it is in very good shape. This is very
encouraging for Golden Band as this critical asset that will cost
substantially less to get to operational status as compared to building a new
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 km2, 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, and EP deposits with
processing at the Company's 100%-owned Jolu mill - a project that has received
a positive Preliminary Economic Assessment (scoping study) on April 19, 2007.
Longer-term objectives include production from the Company's other deposits
and the continuation of its highly successful exploration 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, 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 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: Golden Band Resources Inc.: Rodney Orr,
President, (306) 955-0787, extension 13, firstname.lastname@example.org;
Motivia Communications: Roger Francis, (306) 242-0694, toll free: