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 ProgramSummary 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/QCA 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.