GOLDEN BAND RESOURCES INC. has been actively exploring in the La Ronge Gold Belt in northern Saskatchewan since 1993. The Company has assembled a large land package of 870 km2, that includes 5 former producing mines (of which 3 still have deposit status), 13 known gold deposits (of which 3 are in 50% joint venture) and numerous other exploration targets where gold occurrences have been located.
Golden Band has been a commercial gold producer since April 2011. Recently the Company announced that it plans to suspend operations at its Roy Lloyd underground mine and Golden Heart surface mine and its Jolu mill, effective January 1, 2014. Despite restructuring and cost cutting measures undertaken earlier in the year, the declining price of gold and lower than anticipated ore grades from both the Roy Lloyd and Golden Heart mines have hindered the Company's ability to improve its economic performance.
The Company will place its operations into care and maintenance mode for an indefinite time. During the shutdown period, the Company will be evaluating all of its options to return its mining operations to profitability.
Golden Band plans to continue exploration at the La Ronge Gold Project with the objective to expand the significant NI 43-101 complaint gold resources that have been identified on the project to date and to conduct work programs on the many 'brownfields' exploration targets within the project area.
Golden Band Resources is listed in Canada on the TSX Venture Exchange under the symbol GBN.
|Jan 29/14||Golden Band Updates its Suspension of Operation Plans and Provides Corporate Update more...|
|Dec 20/13||Golden Band Resources Reports Results For The Second Quarter Ended October 31, 2013 more...|
|Dec 09/13||Golden Band To Suspend Mining Operations at La Ronge more...|