GBN: TSX Venture Exchange
SASKATOON, July 3, 2014 /CNW/ - Golden Band Resources Inc.
(GBN:TSXV) announced today the assay results from the drilling
program completed in May, 2014 on the Company's 100%-owned Decade
gold deposit located in the La Ronge Gold Belt of Saskatchewan (see previous news releases of
January 29, 2014 and March 11, 2008). The following table summarizes
the assay highlights.
Table 1: Decade Gold Deposit Assay Data -
Results
2014 Spring 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) |
|
|
| DC-44-14 |
148.7 |
-44.9 |
46.65 |
21.00 |
25.00 |
4.00 |
0.51 |
| DC-45-14 |
145.3 |
-45.1 |
45.73 |
24.00 |
28.00 |
4.00 |
2.43 |
| includes |
25.00 |
26.00 |
1.00 |
4.05 |
| DC-46-14 |
140.8 |
-44.7 |
44.82 |
17.60 |
23.00 |
5.40 |
23.77 |
| Includes |
17.60 |
19.10 |
1.50 |
81.96 |
| DC-47-14 |
139.1 |
-43.9 |
44.82 |
15.00 |
22.00 |
7.00 |
0.56 |
| Includes |
18.00 |
19.00 |
1.00 |
1.41 |
| DC-48-14 |
146.6 |
-44.2 |
48.78 |
18.00 |
22.00 |
4.00 |
1.56 |
| DC-49-14 |
147.3 |
-43.4 |
69.21 |
41.00 |
47.00 |
6.00 |
0.36 |
| DC-50-14 |
147.6 |
-44.1 |
69.21 |
43.50 |
46.00 |
2.50 |
0.61 |
| |
61.75 |
63.50 |
1.75 |
1.00 |
| DC-51-14 |
148.9 |
-46.5 |
38.41 |
24.90 |
26.50 |
1.60 |
0.39 |
| DC-52-14 |
145.9 |
-45.1 |
41.77 |
No Significant
Intervals |
| DC-53-14 |
148.0 |
-45.1 |
41.77 |
14.60 |
21.30 |
6.70 |
0.21 |
| DC-54-14 |
147.2 |
-44.5 |
57.01 |
46.10 |
49.50 |
3.40 |
18.96 |
| Includes |
46.10 |
47.00 |
0.90 |
65.24 |
| DC-55-14 |
145.4 |
-50.7 |
113.72 |
59.00 |
61.00 |
2.00 |
0.52 |
| 61.50 |
62.20 |
0.70 |
2.33 |
| 69.00 |
70.00 |
1.00 |
1.03 |
| 70.90 |
72.70 |
1.80 |
1.04 |
| 88.20 |
90.50 |
2.30 |
0.61 |
| DC-56-14 |
148.7 |
-46.8 |
111.89 |
84.50 |
87.00 |
2.50 |
1.29 |
| DC-57-14 |
147.5 |
-48.9 |
96.65 |
66.50 |
67.70 |
1.20 |
1.84 |
| DC-58-14 |
329.3 |
-48.4 |
78.35 |
60.80 |
63.50 |
2.70 |
0.34 |
| DC-59-14 |
329.5 |
-48.6 |
78.35 |
49.90 |
50.70 |
0.80 |
7.17 |
| DC-60-14 |
328.7 |
-49.1 |
87.50 |
53.90 |
56.70 |
2.80 |
2.62 |
| Includes |
54.90 |
55.90 |
1.00 |
7.07 |
| DC-61-14 |
329.6 |
-49.1 |
90.55 |
60.00 |
61.70 |
1.70 |
1.67 |
| DC-62-14 |
328.9 |
-50.9 |
99.70 |
No Significant
Intervals |
| DC-63-14 |
331.3 |
-48.1 |
105.79 |
56.00 |
58.00 |
2.00 |
0.50 |
| 75.00 |
78.00 |
3.00 |
0.50 |
| DC-64-14 |
331.1 |
-46.3 |
99.70 |
23.40 |
23.70 |
0.30 |
3.69 |
| 83.30 |
87.70 |
4.40 |
13.34 |
| Includes |
84.50 |
85.50 |
1.00 |
44.42 |
| DC-65-14 |
327.8 |
-47.0 |
90.55 |
76.70 |
78.70 |
2.00 |
0.49 |
| 79.70 |
81.70 |
2.00 |
0.38 |
The spring 2014 drilling program at the former Decade mine
consisted of 22 diamond drillholes (NQ-diameter) totalling 1,600.93
m. Drillhole spacing were typically 12.5 m apart, with the
objective to test for:
- The existence of a southwest zone down-plunge for an earlier
high grade drill hole intersect,
- The possible existence of higher grade mineralization down
plunge of the mine workings,
- The possible existence of higher grade mineralization to the
northeast of the mine workings,
- The possible existence of a new zone to the far northeast of
the existing mine workings.
Golden Band is encouraged by
these initial results which indicate that additional higher-grade,
near-surface gold occurrences exist than what were previously
indicated and that these gold zones could potentially be available
for near-term production as part of the Company's plans to re-start
gold production using its Jolu mill.
The former Decade mine workings are only 275 metres from the
Company's Jolu gold mill, and 600 metres from the former Jolu gold
mine, all 100%-owned by Golden Band.
The Decade area was discovered in 1944 and saw limited underground
operations in the 1970's and 1990's. The deepest portion of the
existing development is approximately 50 m below surface and
certain portions of the gold mineralization were drill tested in
the 1990's to about 100-150 m below surface.
QA/QC
A total of 831 samples were analyzed at Golden Bands' on-site
laboratory; 77 samples were re-assayed as duplicates, 58 sample
standards and blanks were routinely inserted into the sample stream
and 61 samples were assayed via the "Total Pulp Metallics" method.
An additional 55 samples were selected from the mineralized
intervals and were sent to TSL Laboratories in Saskatoon, Saskatchewan, which is an
ISO/IEC accredited facility, as an independent check of
samples that occur within the significantly mineralized zone (the
results from these independent checks on assay results are
pending).
Frank Hrdy, P.Geo., (APEGS)
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. Commercial production was declared on
April 1, 2011. The Company has
recently suspended mining operations ( see news release of
June 30, 2014) but 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.
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
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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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this
release.
SOURCE Golden Band Resources Inc.