TSX.V: GBN
SASKATOON,
April 24, 2014 /CNW/ - Golden Band
Resources Inc. ("Golden Band" or the "Company") (TSXV-GBN) is
pleased to announce that it has awarded the first drilling contract
of the 2014 exploration season to Newmac Industries Ltd of
Prince Albert, Saskatchewan. The
program is for a minimum of 2,400 metres and will be located at the
Decade gold deposit and at the northeast extension of the formerly
mined Rod Zone (Jolu gold deposit).
The Decade gold deposit, situated approximately 275 metres north of
the existing Jolu mill site, has been mined in the past and is seen
to have good potential to host additional resources on strike and
to depth. The "Rod Zone Extension" hosts the historic "Pam",
"Blindman" and "East" gold zones which also have potential to host
additional gold resources. The program commenced on Friday, April 18th.
Although the Company has placed the operation on
a care and maintenance status for the time being, as noted in the
news release dated December 9, 2013,
the Company plans to resume aggressive exploration throughout the
La Ronge Gold project area with the goal to significantly expand
the existing NI 43-101 gold resources that have been identified to
date. There are currently 13 known gold deposits and numerous gold
prospects within the general project area (see the Company website
for more details).
The Company would also like to announce the
results of the underground drill program that was carried out in
the latter part of 2013 as well as earlier this year at the Bingo
deposit which is part of the Roy Lloyd mine. The drill program was
designed to define mineable resources within the Bingo structure
below the 1175 metre level (175 metre elevation), which is the
lowest active level of the Company's Roy Lloyd gold mine, and to
test for additional resource to depth and along strike. These
recent drill results, along with historic data are being utilized
to define a new resource below the 1175 metre level.
The following table shows the highlights of the
drill program; high grades were reported in holes 36 and 41. The
larger table which is attached as an Appendix shows all the assay
results from the complete drill program.
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HOLE
NAME |
AZIMUTH |
DIP |
FROM |
TO |
LENGTH |
AU GT |
ZONE |
CORE
LENGTH |
COMPOSITE
GRADE G/T
AU |
|
|
RLUG-33 |
239.638 |
-46.569 |
235.62 |
236.5 |
0.88 |
2.8 |
Bingo |
2.83 |
4.27 |
236.5 |
237.2 |
0.7 |
2.8 |
237.2 |
237.83 |
0.63 |
1.87 |
237.83 |
238.45 |
0.62 |
10.45 |
RLUG-36 |
269.454 |
-43.7 |
169.58 |
170.53 |
0.95 |
2.27 |
Bingo |
3.42 |
28.94 |
170.53 |
171 |
0.47 |
35.07 |
171 |
171.99 |
0.99 |
15.44 |
171.99 |
173 |
1.01 |
64.42 |
RLUG-41 |
248.977 |
-48 |
33.3 |
33.65 |
0.35 |
0.47 |
Footwall
Zone |
1.35 |
15.09 |
33.65 |
34 |
0.35 |
53.85 |
34 |
34.3 |
0.3 |
0 |
36.7 |
37.07 |
0.37 |
0.23 |
37.07 |
37.4 |
0.33 |
4.35 |
RLUG-41 |
248.977 |
-48 |
211.8 |
212.32 |
0.52 |
8.71 |
Bingo |
4.74 |
16.18 |
212.32 |
213 |
0.68 |
1.8 |
213 |
214 |
1 |
40.72 |
214 |
215 |
1 |
21.49 |
215 |
215.89 |
0.89 |
6.41 |
215.89 |
216.54 |
0.65 |
4.67 |
RLUG-42 |
259 |
-47.2 |
196.9 |
198 |
1.1 |
9.67 |
Bingo |
4.73 |
9.06 |
198 |
199 |
1 |
24.41 |
199 |
199.75 |
0.75 |
2.63 |
199.75 |
200.88 |
1.13 |
3.17 |
200.88 |
201.63 |
0.75 |
3 |
RLUG-47 |
227.9 |
-22 |
160.37 |
161.19 |
0.82 |
16.2 |
Bingo |
1.7 |
8.21 |
161.19 |
162.07 |
0.88 |
0.77 |
RLUG-50 |
224 |
-39 |
29.19 |
30.42 |
1.23 |
2.77 |
Footwall
Zone |
3.81 |
11.41 |
30.42 |
31 |
0.58 |
0.13 |
31 |
32 |
1 |
7.94 |
32 |
33 |
1 |
32.03 |
RLUG-50 |
224 |
-39 |
206.12 |
207.36 |
1.24 |
6.41 |
Bingo |
1.72 |
10.29 |
207.36 |
207.84 |
0.48 |
20.31 |
|
RLUG-53 |
236.9 |
-35.7 |
167.14 |
168 |
0.86 |
2.92 |
Bingo |
3.32 |
9.47 |
168 |
168.8 |
0.8 |
3.11 |
168.8 |
169.6 |
0.8 |
14.12 |
169.6 |
170.46 |
0.86 |
17.63 |
Note: The assay results reported are "metallic"
assay results over "standard" assay results when both methods were
used to assay a sample. Assays are uncut.
QA/QC
A total of 604 samples were analyzed at Golden
Bands' on-site laboratory via their "standard fire assay method" 20
samples were re-assayed via the "metallic method", 47 sample
standards and blanks were routinely inserted into the sample stream
by Golden Band personnel and 11
samples were re-assayed as duplicates. An additional 5 samples were
selected from the mineralized intervals and were sent to TSL
Laboratories in Saskatoon,
Saskatchewan, which is an ISO/IEC guideline 17025 accredited
facility, as an independent check of samples that occur within the
significantly mineralized zone.
Frank Hrdy,
P.Geo., Consulting Geologist, has acted as the Qualified Person as
defined in National Instrument 43-101 for this disclosure and has
reviewed and approved the scientific and technical information
contained in this release.
Golden Band also
wishes to note that Masuparia Gold Corporation has commenced
a drill program on the Greywacke gold deposit, which is owned 50%
each by Masuparia and Golden Band.
As part of the La Ronge South Gold
Joint Venture between the two companies, Masuparia is the Operator
for the Greywacke project. For further updates on the drill program
at Greywacke, please also refer to the Masuparia website at
www.masupariagold.com.
About Golden Band Resources Inc.
Golden Band Resources Inc. is a gold producer
operating in the La Ronge gold
belt in northern Saskatchewan and
is listed on the TSX Venture Exchange in Canada under the symbol GBN and traded in
the United States on the OTCQX
under the symbol GBRIF. Commercial production was declared on
April 1, 2011. The Company has been
actively exploring the La Ronge
Gold Belt since 1994 and has assembled a land package of 870 km2,
including 13 known gold deposits and five former producing mines,
being Jolu, Decade, Star Lake, EP
and Komis. The Company plans to undertake aggressive drill programs
throughout the La Ronge Gold Project with the goal of significantly
expanding the existing NI 43-101 gold resources that have been
identified to date.
On behalf of the Board of Directors of Golden
Band Resources Inc.,
"Paul Saxton"
Paul Saxton, CEO
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.
Caution Regarding Forward-Looking Information
and Statements:
This news release includes certain
forward-looking statements or information. All statements other
than statements of historical fact included in this release,
including, without limitation, statements regarding the future
exploration plans, restructuring of operations, estimates of
production, costs of production, the sufficiency and availability
of capital and financing and other future plans, objectives or
expectations of Golden Band Resources Inc. (Company) 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.
Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks
relating to the actual results of operations, current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, cost overruns, general economic, market or
business conditions, regulatory changes, timeliness of government
or regulatory approvals and other risks detailed herein and from
time to time in the filings made by the Company. The Company makes
all reasonable efforts to update its corporate information on a
timely basis.
Golden Band Resources Inc. - News Release April 24, 2014
APPENDIX - Full drill results
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1130 Exploration
Drill Results |
HOLE NAME |
AZIMUTH |
DIP |
FROM |
TO |
LENGTH |
AU GT |
ZONE |
CORE
LENGTH |
COMPOSITE
GRADE G/T
AU |
RLUG-33 |
239.638 |
-46.569 |
235.62 |
236.50 |
0.88 |
2.80 |
Bingo |
2.83 |
3.84 |
236.50 |
237.20 |
0.70 |
2.80 |
237.20 |
237.83 |
0.63 |
1.87 |
237.83 |
238.45 |
0.62 |
8.47 |
RLUG-34 |
249 |
10.293 |
105.86 |
106.73 |
0.87 |
0.10 |
Bingo |
2.23 |
0.07 |
106.73 |
107.48 |
0.75 |
0.00 |
107.48 |
108.04 |
0.56 |
0.13 |
RLUG-35 |
257.967 |
-33.755 |
139.85 |
141.09 |
1.24 |
0.57 |
Bingo |
2.18 |
0.84 |
141.09 |
142.03 |
0.94 |
1.20 |
RLUG-36 |
269.454 |
-43.7 |
169.58 |
170.53 |
0.95 |
2.27 |
Bingo |
3.42 |
30.51 |
170.53 |
171.00 |
0.47 |
22.00 |
171.00 |
171.99 |
0.99 |
14.60 |
171.99 |
173.00 |
1.01 |
76.63 |
RLUG-37 |
275.31 |
-15.813 |
111.05 |
111.88 |
0.83 |
0.23 |
Bingo |
0.83 |
0.23 |
RLUG-38 |
278.401 |
-30.355 |
135.00 |
135.45 |
0.45 |
1.93 |
Bingo |
2.80 |
0.63 |
135.45 |
136.00 |
0.55 |
0.53 |
136.00 |
136.80 |
0.80 |
0.23 |
136.80 |
137.30 |
0.50 |
0.23 |
137.30 |
137.80 |
0.50 |
0.60 |
RLUG-39 |
286.007 |
-39.28 |
172.00 |
173.00 |
1.00 |
1.30 |
Bingo |
2.00 |
1.02 |
173.00 |
173.50 |
0.50 |
0.27 |
173.50 |
174.00 |
0.50 |
1.20 |
RLUG-40 |
293.575 |
-26.179 |
145.70 |
146.60 |
0.90 |
0.50 |
Bingo |
4.75 |
1.29 |
146.60 |
147.50 |
0.90 |
0.10 |
147.50 |
148.28 |
0.78 |
1.57 |
148.28 |
149.15 |
0.87 |
0.63 |
149.15 |
150.45 |
1.30 |
2.97 |
RLUG-41 |
248.977 |
-48 |
33.30 |
33.65 |
0.35 |
0.47 |
Footwall
Zone |
1.35 |
15.09 |
33.65 |
34.00 |
0.35 |
53.85 |
34.00 |
34.30 |
0.30 |
0.00 |
36.70 |
37.07 |
0.37 |
0.23 |
37.07 |
37.40 |
0.33 |
4.35 |
RLUG-41 |
248.977 |
-48 |
211.80 |
212.32 |
0.52 |
8.71 |
Bingo |
4.74 |
16.18 |
212.32 |
213.00 |
0.68 |
1.80 |
213.00 |
214.00 |
1.00 |
40.72 |
214.00 |
215.00 |
1.00 |
21.49 |
215.00 |
215.89 |
0.89 |
6.41 |
215.89 |
216.54 |
0.65 |
4.67 |
RLUG-42 |
259 |
-47.2 |
196.90 |
198.00 |
1.10 |
9.67 |
Bingo |
4.73 |
9.06 |
198.00 |
199.00 |
1.00 |
24.41 |
199.00 |
199.75 |
0.75 |
2.63 |
199.75 |
200.88 |
1.13 |
3.17 |
200.88 |
201.63 |
0.75 |
3.00 |
RLUG-43 |
252.2 |
-17 |
116.64 |
117.26 |
0.62 |
0.27 |
Bingo |
2.13 |
0.13 |
117.26 |
117.91 |
0.65 |
0.00 |
117.91 |
118.77 |
0.86 |
0.13 |
RLUG-44 |
268.8 |
22.4 |
104.45 |
105.35 |
0.90 |
0.67 |
Bingo |
2.10 |
0.71 |
105.35 |
106.21 |
0.86 |
0.53 |
106.21 |
106.55 |
0.34 |
1.30 |
RLUG-45 |
231.3 |
-45.2 |
228.21 |
229.07 |
0.86 |
1.03 |
Bingo |
1.79 |
2.52 |
229.07 |
230.00 |
0.93 |
3.90 |
RLUG-46 |
223.5 |
-43.6 |
234.73 |
235.70 |
0.97 |
1.43 |
Bingo |
2.10 |
1.99 |
235.70 |
236.83 |
1.13 |
2.47 |
RLUG-47 |
227.9 |
-22.7 |
160.37 |
161.19 |
0.82 |
16.20 |
Bingo |
0.82 |
16.20 |
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RLUG-48 |
206 |
-42.5 |
236.20 |
236.66 |
0.46 |
1.47 |
Bingo |
0.46 |
1.47 |
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RLUG-49 |
212.5 |
-52.07 |
Fault
Intersected, No Zone |
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NSR |
RLUG-50 |
224 |
-39 |
29.19 |
30.42 |
1.23 |
2.77 |
Footwall
Zone |
3.81 |
11.41 |
30.42 |
31.00 |
0.58 |
0.13 |
31.00 |
32.00 |
1.00 |
7.94 |
32.00 |
33.00 |
1.00 |
32.03 |
RLUG-50 |
224 |
-39 |
206.12 |
207.36 |
1.24 |
6.41 |
Bingo |
1.72 |
10.29 |
207.36 |
207.84 |
0.48 |
20.31 |
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RLUG-51 |
213.4 |
15.6 |
147.83 |
148.39 |
0.56 |
0.60 |
Bingo |
0.56 |
0.60 |
RLUG-52 |
235 |
-16.5 |
134.48 |
135.48 |
1.00 |
2.33 |
Bingo |
2.69 |
1.30 |
135.48 |
136.43 |
0.95 |
0.87 |
136.43 |
137.17 |
0.74 |
0.47 |
RLUG-53 |
236.9 |
-35.7 |
167.14 |
168.00 |
0.86 |
2.92 |
Bingo |
3.32 |
9.47 |
168.00 |
168.80 |
0.80 |
3.11 |
168.80 |
169.60 |
0.80 |
14.12 |
169.60 |
170.46 |
0.86 |
17.63 |
RLUG-54 |
246 |
-37.9 |
157.00 |
157.79 |
0.79 |
2.47 |
Bingo |
3.34 |
0.97 |
157.79 |
159.00 |
1.21 |
0.30 |
159.00 |
160.34 |
1.34 |
0.70 |
SOURCE Golden Band Resources Inc.