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The Star Phoenix Sept 29, 2009
Tue Sept 29, 2009
Publisher: The Star Phoenix
Golden Band Resources Inc. said this week it will update the resource estimate for its Bingo deposit after finding gold mineralization at the site 150 metres deeper than the previously deepest drill hole.
The Saskatoon-based company said it has successfully intersected high-grade gold mineralization at Bingo at a vertical depth of 525 metres below surface, extending the mineralization depth by 150 metres. An updated resource estimate to confirm the size of the additional resource will be done after the current drilling program at Bingo is complete, the company said. Golden Band says the new deep drilling level could significantly increase the Bingo deposit's mine life.
"These drillholes are some of the deepest ever completed in the La Ronge gold belt and support the company's view that the potential for more of this type of high-grade mineralization in the belt is still untapped," said Frank Hrdy, the company's vice-president of exploration. "Planning of a future underground drill program at Bingo is in progress."
Golden Band says resource estimates for the Bingo deposit include almost 74,000 ounces of gold in the measured and indicated category and almost 68,000 ounces of gold in the inferred category.
Additionally, the company says a second diamond drill is being mobilized to follow-up on the newly discovered Thunder gold showing located near its Komis and EP deposits at Waddy Lake. Golden Band says up to three drillholes are planned to test the highly prospective Thunder target.
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