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Golden Band Resources - Summer Exploration Program Update
Saskatoon, Saskatchewan, September 8, 2009 - Golden Band Resources Inc. (GBN: TSXV) is pleased to announce the discovery of two new gold showings within its 100% owned claims at Waddy Lake, near the Company’s Komis and EP gold deposits. These new showings, named Thunder and Lightning, are located five kilometres south of the Komis deposit in the La Ronge Gold Belt of northern Saskatchewan. Both showings resulted from follow up of previously discovered gold-in-till anomalies as part of the previously announced summer exploration program (news release of June 23, 2009).
The Thunder showing is located at the 100-metre wide apex of a very strong gold-in-till dispersion train with up to 60 gold grains (per kilogram of till), accompanied by up to 1,600 ppb gold in the fine fraction of the bulk till sample. A number of auriferous boulders were also recovered from the till sample pits, with one rusty quartz boulder assaying 127.8 g/t gold (3.73 oz/t gold). Two initial drillholes (EK-03 and EK-04) intersected low-grade gold mineralization in silicified andesitic volcanics within a pyritic zone, grading between 0.63 and 1.02 g/t gold over 6.8 and 5.6 metres, respectively. It is interpreted that these two holes just missed the expected mineralized source for the anomalies. Follow-up drilling is planned during September 2009 to establish the potential for this very encouraging new showing.
The Lightning showing is located about 200 metres from the Thunder showing; is within the same dispersion train as the Thunder showing; and was discovered by prospecting. It is hosted by an andesitic debris flow and a NW-striking fault. Several cross cutting auriferous quartz veins up to 20 cm-wide are exposed on surface over several metres. One drillhole (EK-02) tested this showing and found a several-metres wide feldspar porphyry dyke associated with a quartz breccia zone. The auriferous zone was confirmed over five metres in the drillhole (from 34.2 m to 39.2 m) averaging 3.88 g/t gold, with the highest assay being 13.51 g/t gold over 0.4 metres within the brecciated quartz vein. Follow-up drilling is planned for later this month.
At the Charlie’s Eye prospect, seven additional drillholes were completed (CE-35 to CE-41) totalling 517 m. This prospect is located two kilometres north of the Komis mine site and was the subject of several drilling campaigns between 2004 and 2006. The gold mineralization is hosted by a 2 to 6 metres wide pyritized quartz breccia zone striking northwest and dipping about 30 degrees SW. The host rocks are volcanics and diorite, with the quartz breccia zone intersecting the faulted contact between these two rock units. The area of intersection is where gold grades show marked improvement. Drillhole CE-39 returned 5.72 g/t gold over 4.5 metres during the current campaign. The Charlie’s Eye prospect is now confirmed over 150 metres east-west and 100 metres north-south, with grades between 2 and 6 g/t gold and widths of 2 to 7 metres. Similar values were obtained during the current campaign. No additional work is planned this season, but the contact area between the diorite and the volcanics warrants further testing.
Deep drilling has started at the Bingo deposit where a 5,000-metre program began on August 4 to test the down-plunge and on-strike continuation of the high-grade gold mineralization at Bingo. The objective is to enlarge this high-grade Inferred category resource, now containing an estimated 155,074 tonnes grading 13.89 g/t gold, and to increase the confidence level about the grade and the structural continuity of this gold mineralization. Should this drilling program be successful, near-term follow-up would include additional underground exploration with the objective of converting the additional Inferred category resources at depth to the Measured + Indicated resource category.
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is now poised to also become a gold producer. Golden Band 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 12 known gold deposits, five former producing mines, and a licensed gold mill. Golden Band's key value drivers are the methodical and systematic targeting of primary to advanced-stage exploration while progressing along a parallel path to becoming a sustainable gold producer. The Company is aggressively pursuing its near-term goal of commercial production of its Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill. The Company’s objective, supported by a positive Pre-Feasibility Study completed in January 2009, is the annual production of at least 75,000 ounces of gold over a ten-year project life. Other longer-term objectives include the continuation of its highly successful exploration and acquisition strategy.
On behalf of the Board of Directors of Golden Band Resources Inc.,
"Rodney G. Orr"
Rodney G. Orr, P.Geo.,
President & CEO
For further information please contact:
Rodney Orr, President & CEO,
Golden Band Resources Inc.
Phone: 306 955 0787 x7123; Fax: 306 955 0788
Email: rodney.orr@goldenbandresources.com
Wani Capital Corp.:
Raju Wani, 403 240 0555
Email: info@goldenbandresources.com
www.goldenbandresources.com
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 and COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
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 materially affect the actual results achieved by the Company. Potential and current shareholders are cautioned not to place undue reliance on forward-looking information. The Company disclaims any intent and undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events, or other such factors that may affect this information, except as required by law.
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.
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