SASKATOON, Aug. 25, 2014 /CNW/ - Golden Band Resources Ltd.,
August 25, 2014 - Golden Band
Resources Inc. (GBN:TSXV) (the "Company") announced today the assay
results from the drilling program completed in June, 2014 on the
Company's 100%-owned East zone gold prospect located in the La
Ronge Gold Belt of Saskatchewan.
The following table summarizes the assay highlights.
Table 1: East Zone Gold Prospect Assay
Data – Results
2014 Summer Drilling Program
Summary
of Aggregated Uncut Gold Results
Drillhole
|
Azimuth
(degrees)
|
Dip
(degrees)
|
Drillhole
Depth
(m)
|
From
(m)
|
To
(m)
|
Downhole
Interval
(m)
|
Assay
(g/t
Au)
|
|
|
|
B14-117
|
147.6
|
-54.4
|
60.05
|
32.40
|
33.35
|
0.95
|
5.13
|
|
Includes
|
32.40
|
32.70
|
0.30
|
13.13
|
|
B14-118
|
147.9
|
-54.9
|
57.00
|
25.13
|
26.13
|
1.00
|
0.27
|
|
B14-119
|
147.4
|
-54.8
|
63.09
|
17.55
|
20.05
|
2.50
|
0.49
|
|
B14-120
|
147.7
|
-55.2
|
44.81
|
4.70
|
6.00
|
1.30
|
0.50
|
|
B14-121
|
147.1
|
-54.9
|
50.90
|
20.00
|
21.00
|
1.00
|
0.27
|
|
B14-122
|
148.2
|
-54.9
|
75.29
|
49.93
|
50.67
|
0.74
|
1.13
|
|
62.54
|
62.74
|
0.20
|
0.97
|
|
B14-123
|
147.9
|
-53.1
|
84.43
|
61.50
|
63.12
|
1.62
|
0.42
|
|
B14-124
|
147.4
|
-58.6
|
90.53
|
53.27
|
54.95
|
1.68
|
15.43
|
|
Includes
|
53.42
|
53.92
|
0.50
|
21.65
|
|
Includes
|
54.42
|
54.95
|
0.53
|
24.82
|
|
B14-125
|
145.4
|
-57.1
|
99.67
|
74.03
|
78.04
|
4.01
|
12.43
|
|
Includes
|
74.41
|
77.03
|
2.62
|
18.35
|
|
Includes
|
74.41
|
74.83
|
0.42
|
42.02
|
|
Includes
|
75.54
|
75.79
|
0.25
|
41.05
|
|
|
80.12
|
80.62
|
0.50
|
1.20
|
|
B14-126
|
146.0
|
-55.7
|
111.86
|
93.16
|
95.68
|
2.52
|
0.40
|
|
99.02
|
99.48
|
0.46
|
0.43
|
|
B14-127
|
148.9
|
-54.6
|
130.15
|
113.49
|
116.72
|
3.23
|
1.47
|
|
Includes
|
113.49
|
114.62
|
1.13
|
3.01
|
|
Includes
|
114.14
|
114.25
|
0.11
|
10.44
|
|
B14-128
|
148.2
|
-59.9
|
157.58
|
130.93
|
132.72
|
1.79
|
0.31
|
|
B14-129
|
147.6
|
-54.8
|
127.10
|
116.19
|
117.96
|
1.77
|
0.36
|
|
B14-130
|
146.9
|
-57.7
|
117.96
|
103.82
|
106.10
|
2.28
|
0.64
|
|
Includes
|
103.82
|
104.03
|
0.21
|
0.97
|
|
Includes
|
104.87
|
105.28
|
0.41
|
1.27
|
|
The summer 2014 drilling program at the East zone gold prospect
consisted of 14 diamond-drill holes (NQ-diameter) totalling
1,270.42 m. Drillhole spacings were typically 12.5 m apart.
Objectives of the drill program were:
- To fill-in and complete the historical 1987-1990 drill coverage
along the northeast plunge of the zone;
- To possibly extend the zone up-plunge to surface to the
southwest;
- To possibly extend the zone down-plunge to the northeast, below
the limits of all historical drilling.
Drilling in 2014 tested the East zone from 10 metres to 110
metres below surface. The zone is untested below 110 metres; it
continues and remains open to depth.
Golden Band is encouraged by
these initial results which indicate that a discrete, near-surface,
higher-grade gold occurrence exists in the East zone than what was
previously indicated. The prospect has potential to be expanded
through additional drilling.
The East zone is located 1.6 kilometres from the Company's Jolu
gold mill, and 1.8 kilometers from the former Jolu gold mine, all
100%-owned by Golden Band. The East
zone forms part of the Rod structure (comprising the principal
resource at the past-producing Jolu gold mine). The Rod structure
extends continuously for 3.0 kilometres from the Alimack prospect
in the southwest through the Jolu gold mine to the Pam, Blindman
(1850E) and East zones (2200E) in the northeast. The Rod structure
was discovered in 1983; the Jolu gold mine produced for 3.5 years
starting in 1988; and the Pam, Blindman and East zones were
discovered and drill tested in 1985 to 1990.
QA/QC
A total of 430 samples were analyzed at Golden
Bands' on-site laboratory; 38 samples were re-assayed as
duplicates, 69 sample standards and blanks were routinely inserted
into the sample stream and 31 samples were assayed via the "Total
Pulp Metallics" method". An additional 44 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.
Gordon Gibson, 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.
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.
SOURCE Golden Band Resources Inc.