Birch Crossing gold deposit and Kaslo prospect final assay results
Mon Jun 9, 9:30 AM
ca.news.finance.yahoo.com
GBN: TSX Venture Exchange
SASKATOON, June 9 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is pleased to provide the final results of its 2008 winter drilling programs on the Company's 100%-owned Birch Crossing gold deposit and Kaslo prospect in the La Ronge Gold Belt of northern Saskatchewan. The standard fire assay and metallic screen assay results for all drillholes completed during these programs are summarized in Tables 1 and 2. Delays in the receipt of these final assay data are because metallic screen assays were also obtained as they can provide more accurate results in cases when coarse gold is present.
Birch Crossing Gold Deposit Final Winter 2008 Drilling Results
Highlights:
-----------
- 13.0 g/t Au/4.45 m (BC-88-08, including 47.7 g/t Au/0.9 m)
- 17.4 g/t Au/1.0 m (BC-88-08)
- 13.6 g/t Au/1.15 m (BC-89-08)
- 25.0 g/t Au/2.0 m (BC-93-08, including 46.2 g/t Au/1.0 m)
- 29.4 g/t Au/1.9 m (BC-94-08, including 53.3 g/t Au/0.85 m)
- 14.5 g/t Au/2.25 m and 14.3 g/t Au/2.85 m (BC-96-08)
- 8.3 g/t Au/6.5 m (BC-98-08, including 37.5 g/t Au/1.0 m)
Golden Band is pleased and encouraged by the results of the winter 2008 drill program at Birch Crossing, notably by the numerous high-grade gold intersections from the Red Cube North-2 zone. The results from this program will be incorporated into an updated geological model and NI 43-101-compliant resource estimate. Prior to this winter's work, the Birch Crossing gold deposit contained an estimated inferred resource of 536,000 tonnes at an average grade of 5.11 grams per tonne (g/t) Au for 88,100 ounces of gold using a 2 g/t Au cut-off (see previous news release of December 17, 2007).
The objectives of the 2008 winter program were to test for the on-strike and depth extensions of the high-grade Red Cube quartz vein zones and to increase the confidence in known gold mineralization for the purpose of upgrading an updated NI 43-101 compliant resource estimate. A total of eleven diamond-drillholes (BC-88-08 to BC-98-08: 1,663.65 m) were completed (see previous news release of April 16, 2008; assays from BC-88, BC-89, BC-94 to 98 were not previously reported).
Three holes (BC-88 to BC-90) were completed along the eastern margin of the deposit to intersect the on-strike extension of the high-grade Red Cube quartz vein type of gold mineralization (divided into the South, North, and North-2 zones). BC-89 and BC-90 were designed to undercut BC-80 and BC-82, respectively, and the results compare favourably with these holes, helping to establish the presence of down-dip continuity of the Red Cube South and Red Cube North-2 Zones in the eastern part of the deposit. For the results of BC-80 and BC-82, refer to press releases dated March 12, 2007 and May 14, 2007.
The remaining eight holes (BC-91-08 to BC-98-08) were a mixture of step-out and undercut holes, most drilled in a "scissor" configuration to existing drilling (i.e., they were drilled from north to south which is opposite to most historic holes). These holes were intended to increase the confidence in known mineralized zones, to test for depth extensions of these zones, and to aid in the interpreting the orientation of the gold mineralized zones. All but one hole intersected high-grade (greater than 10 g/t Au) gold mineralization.
A new zone of interest was also intersected by the final hole of the program, BC-98-08. This relatively shallow interval averages 8.3 g/t Au/6.5 m (12.0-18.5 m), including 37.5 g/t Au/1.0 m. This high-grade gold interval was encountered at the northern margin of the deposit and is comprised of a 0.5 m interval of massive sulphide within interfingered diorite and andesite.
All assay intervals reported are as measured along the core axis and may not represent true lengths. The summary results are presented as aggregate, length-weighted averages of assays that have returned values greater than 2 g/t Au. The locations of all the drillholes completed to date are shown in Figure 1.
Figure 1: files.newswire.ca
Figure 2: files.newswire.ca
Kaslo Gold Prospect Final Winter 2008 Drilling Results
Highlights:
-----------
- 5.8 g/t Au/1.1 m (K-64-08)
- 10.1 g/t Au/2.42 m (K-65-08)
- 4.8 g/t Au/1.0 m (K-66-08)
- 13.8 g/t Au/1.52 m (K-67-08)
Six drillholes (K-63-08 to K-68-08: 523.6 m) were completed during the winter 2008 program on the Kaslo gold prospect (see previous news release of April 16, 2008; assay results for K-76 and K-68 were not previously reported). All standard fire assays and metallic screen assays have now been received and are summarized in Table 2.
The results of the winter 2008 Kaslo drill program confirm the presence of Red Cube style gold mineralization similar to that found at the adjacent Birch Crossing and Niko deposits, and indicate a potential for higher-grade gold intersections. Further drilling is required to step-out from these holes and explore for additional on-strike extensions of the Kaslo zone in order to provide sufficient information to warrant a NI 43-101-compliant resource estimate for this prospect.
Five holes (K-63 to K-67) were completed in a single profile along the shoreline and on the surface of Narrow Lake (Figure 3) to intersect Red Cube-style gold mineralization similar to that found at the nearby Birch Crossing deposit (located 700 m to the east), and to provide a basis for future drilling at the prospect. The Company's Niko gold deposit is 400 metres west of Kaslo. The Niko deposit, discovered in 1988, does not have a reportable NI 43-101-compliant resource estimate.
Two gold mineralized zones were intersected in this winter's holes. The first, termed the Kaslo zone, correlates well between the four holes, as can be seen in Figure 4, hosting gold grades up to 10.1 g/t Au/2.42 m (K-65: 82.15-84.57 m) and 13.85 g/t Au/1.52 m (K-67: 90.36-91.88 m). The Kaslo zone consists of chlorite and hematite altered quartz veining with minor (trace-2%) pyrite mineralization, either sandwiched within or adjacent to a fault zone (characterized by chloritic fault gouge). Four of the five holes drilled in the vicinity of Narrow Lake intersected this zone; the fifth (K-66) was terminated prematurely due to mechanical difficulties but was re-drilled as K-67.
The second gold-bearing zone, termed the Niko zone, had two holes, K-64 and K-66, with grades on the order of 5.8 g/t Au/1.1 m (K-64: 33.15-34.25 m) and 4.8 g/t Au/1.0 m (K-66: 39.5-40.5 m). The Niko-style zone is comprised of strongly fractured rock that has undergone potassic and hematitic alteration. These zones occur within interfingered andesite and diorite, and bear a resemblance to the fault breccia zones found at the Niko deposit.
The final hole of the program, K-68, was drilled on land to undercut a trench which contains a 0.5 m wide oxidized quartz vein which returned grab samples of up to 8 g/t Au. No significant assay results (greater than 2 g/t Au) were intersected by this hole.
All assay intervals reported are as measured along the core axis and may not represent true lengths. The summary results are presented as aggregate, length-weighted averages of assays that have returned values greater than 2 g/t Au. The locations of all the drillholes are shown in Figure 3.
Figure 3: files.newswire.ca
Figure 4: files.newswire.ca
Soil Gas Hydrocarbon Anomalies Winter Drilling - Golden Heart Deposit
Area:
Complete assay results are anticipated by the end of June 2008.
TSL Laboratories in Saskatoon assayed all of the core samples from these programs. TSL is an ISO/IEC 17025 accredited facility. Standard fire assays with an AA finish were performed on all of the samples, and "screened metallic" assays with a gravimetric finish were also undertaken on samples that were thought to contain coarse or nuggety gold. The quality assurance/quality control of the fire assay data was monitored by the Company using sample standards and sample blanks which were routinely inserted into the sample sequences.
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, Tier 1) 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 ten known gold deposits, four 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 for the development and production of its 100%-owned Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill - a project that received a positive expanded Preliminary Economic Assessment (scoping study) on February 26, 2007 (filed on SEDAR on April 10, 2008). Longer-term objectives include production from the Company's other deposits and 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
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 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Table 1: Birch Crossing Deposit 2008 Winter Program
Summary of Aggregated Uncut Gold Results
Complete results based on 1,329 assays, including 236 metallic assays
and 101 assay standards.
All intervals are measured along the drillhole. Aggregate results
are length-weighted averages for that interval.
Median sample interval 1.5 m, minimum sample interval 0.3 m,
maximum sample interval 3.05 m (2.01 m).
-------------------------------------------------------------------------
Sam- Metal-
Sam- ple Fire lic
Drill- Azimuth/ Drillhole Sample ple Inter- Assay Assay Target
hole Inclination Depth From To val (g/t (g/t
(m) (m) (m) (m) Au) Au)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
169.77 65.50 69.95 4.45 17.20 13.00 Red
------------------------------------------ Cube
including 65.50 66.40 0.90 63.61 47.70 South
Zone
---------------------------------------------------
123.50 124.50 1.00 4.22 1.75 Red
BC-88-08 360 degrees/ Cube
-45 degrees North
Zone
---------------------------------------------------
148.50 154.50 6.00 7.07 4.93 Red
------------------------------------------ Cube
including 148.50 149.50 1.00 29.01 17.39 North
2 Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
74.85 76.00 1.15 18.93 13.57 Quartz
Vein
Zone
-----------------------------------------
108.00 110.30 2.30 4.00 2.65 Red
BC-89-08 360 degrees/ 147.25 Cube
-45 degrees North
Zone
-----------------------------------------
122.50 123.50 1.00 2.43 2.98 Red
-------------------------------- Cube
126.50 128.00 1.50 4.84 2.57 North
2 Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
BC-90-08 360 degrees/ 114.91 80.50 81.50 1.00 5.18 6.47 Red
-45 degrees Cube
North
2 Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
75.50 77.50 2.00 6.50 6.93 Quartz
Vein
BC-91-08 360 degrees/ 105.77 Zone
-45 degrees -----------------------------------------
95.50 99.50 4.00 1.52 2.44 Alder
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
117.96 34.50 39.50 5.00 2.82 2.85 Red
------------------------------------------ Cube
including 36.50 37.50 1.00 4.49 5.75 North
------------------------------------------ Zone
BC-92-08 180 degrees/including 38.50 39.50 1.00 7.03 6.11
-45 degrees ---------------------------------------------------
88.00 91.00 3.00 11.92 10.10 Red
------------------------------------------ Cube
including 88.00 89.00 1.00 24.28 19.35 South
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
175.87 51.00 53.00 2.00 21.07 25.05 Red
------------------------------------------ Cube
including 51.00 52.00 1.00 39.09 46.18 North
2 Zone
---------------------------------------------------
93.50 94.50 1.00 5.86 5.33 Red
BC-93-08 180 degrees/------------------------------------------ Cube
-45 degrees 102.00 103.00 1.00 9.64 9.07 North
Zone
---------------------------------------------------
116.00 117.00 1.00 4.70 6.40 Red
Cube
South
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
60.05 30.00 31.90 1.90 26.41 29.43 Red
BC-94-08 180 degrees/------------------------------------------ Cube
-45 degrees including 31.05 31.90 0.85 45.34 53.30 North
2 Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
151.49 17.60 19.25 1.65 10.30 11.94 Red
------------------------------------------ Cube
including 18.60 19.25 0.65 21.60 25.86 North
2 Zone
---------------------------------------------------
34.75 36.00 1.25 6.77 6.00 Quartz
Vein
Zone
---------------------------------------------------
75.00 76.00 1.00 5.35 4.67 Red
BC-95-08 180 degrees/------------------------------------------ Cube
-45 degrees 80.00 82.50 2.50 13.19 14.72 North
------------------------------------------ Zone
including 81.50 82.50 1.00 21.81 30.40
---------------------------------------------------
113.50 114.50 1.00 5.86 5.30 Red
Cube
South
Zone
---------------------------------------------------
143.50 144.50 1.00 3.98 3.77 Quartz
Vein
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
112.46 48.25 50.50 2.25 20.49 14.53 Red
------------------------------------------ Cube
including 48.25 49.14 0.89 48.80 33.65 North
BC-96-08 180 degrees/ 2 Zone
-45 degrees ---------------------------------------------------
99.50 102.35 2.85 16.22 14.29 Red
------------------------------------------ Cube
including 101.85 102.35 0.50 52.26 48.81 North
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
323.11 71.00 78.50 7.50 4.57 3.84
------------------------------------------ Alder
including 72.50 75.50 3.00 9.24 7.44 Zone
------------------------------------------
81.50 88.50 7.00 4.30 3.62
---------------------------------------------------
BC-97-08 180 degrees/ 155.50 156.50 1.00 10.70 8.89 Red
-45 degrees Cube
North
2 Zone
---------------------------------------------------
254.10 257.10 3.00 8.13 7.11 Red
------------------------------------------ Cube
including 254.10 254.40 0.30 46.02 30.46 South
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
185.01 12.00 18.50 6.50 23.34 8.31 Sulph-
------------------------------------------ ide
including 16.35 17.35 1.00 135.10 37.51 Zone
---------------------------------------------------
BC-98-08 180 degrees/ 28.50 39.00 10.50 2.54 2.74 Alder
-45 degrees Zone
---------------------------------------------------
155.50 160.00 4.50 2.43 2.33 Red
Cube
North
2 Zone
-------------------------------------------------------------------------
Drillhole numbers are in the following format: BC-No.No.-08 (Birch
Crossing drillhole No.No., completed in 2008).
Table 2: Kaslo Gold Prospect 2008 Winter Program
Summary of Aggregated Uncut Gold Results.
Complete results based on 466 assays, including 49 metallic assays
and 32 assay standards.
All intervals are measured along the drillhole. Aggregate results
are length-weighted averages for that interval.
Median sample interval 1.0 m, minimum sample interval 0.4 m,
maximum sample interval 2.0 m.
-------------------------------------------------------------------------
Sam- Metal-
Sam- ple Fire lic
Drill- Azimuth/ Drillhole Sample ple Inter- Assay Assay Target
hole Inclination Depth From To val (g/t (g/t
(m) (m) (m) (m) Au) Au)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
K-63-08 020 degrees/ 41.76 26.70 34.40 7.70 2.51 1.99 Kaslo
-50 degrees ------------------------------------------ Zone
including 32.60 33.50 0.90 12.76 8.83
-------------------------------------------------------------------------
-------------------------------------------------------------------------
7.10 8.00 0.90 2.13 0.39
---------------------------------------------------
108.81 31.50 35.50 4.00 2.98 2.64 Niko
------------------------------------------ Zone
K-64-08 020 degrees/including 33.15 34.25 1.10 6.62 5.86
-50 degrees ---------------------------------------------------
43.30 46.00 2.70 4.04 4.05
------------------------------------------ Kaslo
including 43.30 44.00 0.70 3.77 5.52 Zone
------------------------------------------
including 45.00 46.00 1.00 5.21 5.17
-------------------------------------------------------------------------
-------------------------------------------------------------------------
K-65-08 020 degrees/ 130.15 82.15 84.57 2.42 8.90 10.11 Kaslo
-50 degrees ------------------------------------------ Zone
including 82.85 83.85 1.00 12.79 15.94
-------------------------------------------------------------------------
-------------------------------------------------------------------------
33.50 35.50 2.00 2.17 1.40 Niko
K-66-08 020 degrees/ Zone
-50 degrees 55.73 -----------------------------------------
39.50 40.50 1.00 7.78 4.79 Niko
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
K-67-08 020 degrees/ 151.49 90.36 91.88 1.52 16.61 13.85 Kaslo
-50 degrees Zone
-------------------------------------------------------------------------
K-68-08 165 degrees/ 35.66 No significant assays above 2 g/t Au
-50 degrees
-------------------------------------------------------------------------
Drillhole numbers are in the following format: K-No.No.-08 (Kaslo
drillhole No.No., completed in 2008).
Contacts
Rodney Orr
President & CEO
Golden Band Resources Inc.
Phone: (306) 955-0787 x7123
Fax: (306) 955-0788
Email: rodney.orr@goldenbandresources.com
www.goldenbandresources.com
Motivia Communications: Roger Francis
(306) 242-0694 x5
Toll free: 1-866-501-5651
Email: info@goldenbandresources.com |
