Mr. Ronald Netolitzky reports
GOLDEN BAND RESOURCES' LA RONGE GOLD PROJECT ON TRACK FOR Q4 PRODUCTION START
Golden Band Resources Inc. has provided a progress update for the La Ronge gold project. The project remains on track for the start of gold
production in the fourth quarter of 2010.
Bingo deposit exploration development
The company has received final assay data from face chip samples taken
from the exploration drifts on the 1355 level and 1340 level (see
news in Stockwatch on Aug. 18, 2010), and have updated the grade
and tonnage estimates of the development muck stockpile.
To date, a total of 8,805 tonnes of high-grade gold mineralized material
has been stockpiled from the Bingo deposit with an average grade of
15.02 grams per tonne (g/t) gold based on underground face chip sample assays. The
company now estimates a high-grade stockpile gold content of 4,250
ounces (see news in Stockwatch on July 13, 2010).
A further 11,800 tonnes of low-grade material with an average grade of
4.39 g/t gold has been stockpiled. The low-grade stockpile will be
transported to the Jolu mill for processing during the commissioning
phase of the operations.
A continuous chip sampling method was used for each development face,
using a pneumatic hammer to collect a one- to two-kilogram sample from each
discreet sample intersection across the face. Upper and lower sample
lines on each face, usually consisting of several one-metre-long samples,
resulted in at least six assays per face. The round-by-round faces are
usually three to four metres apart along the ore drift. Samples were sent to
the Saskatchewan Research Council and TSL Laboratories in Saskatoon and
assayed for gold content using the standard fire assay and screened
metallics methods.
Composite assay data from the sampling program are shown in the tables for each ore drift, and are calculated for a minimum mining width of
2.0 metres. Where the mineralization exceeded the minimum mining width,
the actual measured mineralized width was used to calculate the
composite assay grade.
BINGO GOLD DEPOSIT: 1355 LEVEL FACE SAMPLING COMPOSITE ASSAY RESULTS
Mining Mining
Face width Au Face width Au
No. m g/t No. m g/t
51N top 2.0 0.04 51N bottom 2.0 0.05
52N top 2.0 0.02 52N bottom 2.0 0.03
53N top 2.0 0.10 53N bottom 2.0 0.05
54N top 2.0 0.07 54N bottom 2.0 0.02
55N top 2.0 32.05 55N bottom 2.0 3.45
56N top 2.0 0.56 56N bottom 2.0 1.39
57N top 2.0 2.16 57N bottom 2.0 0.29
58N top 2.0 2.19 58N bottom 2.0 1.41
59N top 2.0 1.29 59N bottom 2.0 0.12
60N top 2.0 0.67 60N bottom 2.0 0.97
61N top 2.0 0.33 61N bottom 2.0 0.20
62N top 2.0 2.12 62N bottom 2.0 0.96
63N top 2.0 0.36 63N bottom 2.0 0.29
64N top 2.0 2.75 64N bottom 2.0 0.05
65N top 2.0 3.71 65N bottom 2.0 5.82
66N top 2.6 68.15 66N bottom 2.0 25.43
67N top 2.0 0.34 67N bottom 2.0 0.68
68N top 2.0 1.85 68N bottom 2.0 2.13
69N top 2.0 0.29 69N bottom 2.0 6.14
70N top 2.0 9.33 70N bottom 2.0 10.30
71N top 2.0 37.21 71N bottom 2.0 8.55
72N top 2.0 3.10 72N bottom 2.0 4.63
73N top 2.0 1.00 73N bottom 2.0 2.19
74N top 2.0 2.50 74N bottom 2.0 6.44
75N top 2.0 2.45 75N bottom 2.0 6.23
76N top 2.6 42.98 76N bottom 2.7 18.27
77N top 2.0 2.59 77N bottom 3.3 12.62
78N top 2.0 6.20 78N bottom 2.0 1.34
79N top 2.0 1.84 79N bottom 2.0 1.09
80N top 2.0 4.13 80N bottom 2.0 2.69
81N top 2.0 0.94 81N bottom 2.0 1.20
82N top 2.0 2.63 82N bottom 2.0 1.07
83N top 2.0 0.65 83N bottom 2.0 1.68
84N top 2.0 0.69 84N bottom 2.0 2.90
85N top 2.0 3.20 85N bottom 2.0 2.79
86N top 2.0 4.64 86N bottom 2.0 1.38
87N top 2.0 0.96 87N bottom 2.0 1.05
88N top 2.0 0.02 88N bottom 2.0 1.59
BINGO GOLD DEPOSIT 1340 LEVEL FACE SAMPLING COMPOSITE ASSAY RESULTS
Mining Mining
Face width Au Face width Au
No. m g/t No. m g/t
32S top 2.0 21.04 32S bottom 2.0 0.58
33S top 2.0 2.14 33S bottom 2.0 0.53
34S top 2.0 0.74 34S bottom 2.0 2.33
35S top 2.0 0.78 35S bottom 2.0 2.64
36S top 2.0 0.71 36S bottom 2.0 0.88
37S top 2.0 2.48 37S bottom 3.0 3.46
38S top 2.0 26.65 38S bottom 2.0 13.11
39S top 2.0 6.83 39S bottom 2.0 20.76
40S top 2.6 26.89 40S bottom 2.0 6.08
41S top 2.3 6.19 41S bottom 3.2 19.61
42S top 2.0 1.90 42S bottom 2.0 3.62
43S top 2.0 8.56 43S bottom 2.0 6.74
44S top 2.0 6.01 44S bottom 2.0 10.79
45S top 2.0 1.98 45S bottom 2.0 1.38
46S top 2.0 0.77 46S bottom 2.0 0.30
5N top 2.0 6.39 5N bottom 2.0 1.20
6N top 2.0 7.67 6N bottom 2.0 17.16
7N top 2.0 5.07 7N bottom 2.0 4.18
8N top 2.0 1.74 8N bottom 2.0 1.83
9N top 2.0 1.60 9N bottom 2.0 2.89
10N top 2.0 4.39 10N bottom 2.0 1.79
11N top 2.0 5.92 11N bottom 2.0 1.97
12N top 2.0 2.84 12N bottom 2.0 2.79
13N top 2.0 4.03 13N bottom 2.0 6.95
14N top 2.0 8.05 14N bottom 2.0 5.23
15N top 2.0 2.35 15N bottom 2.0 3.96
16N top 2.4 10.73 16N bottom 2.0 6.98
17N top 2.6 26.82 17N bottom 2.0 15.18
18N top 2.1 19.33 18N bottom 2.0 7.56
19N top 2.0 14.04 19N bottom 2.0 0.58
20N top 2.0 54.45 20N bottom 2.0 3.19
21N top 2.0 1.01 21N bottom 2.0 0.98
22N top 2.0 0.24 22N bottom 2.0 1.86
23N top 2.0 3.32 23N bottom 2.0 0.44
24N top 2.0 0.50 24N bottom 2.0 0.40
25N top 2.0 0.13 25N bottom 2.0 0.23
26N top 2.0 0.57 26N bottom 2.0 0.12
27N top 2.0 0.28 27N bottom 2.0 0.49
28N top 2.0 0.35 28N bottom 2.0 1.28
29N top 2.0 0.57 29N bottom 2.0 0.28
30N top 2.0 0.43 30N bottom 2.0 0.35
Face sample locations for each level can be viewed on the company
website, with each plan showing the top-of-face and bottom-of-face sample
lines, and the mineralized structure of the Bingo deposit.
The current phase of preproduction development is well under way with
completion of the decline extension down to the 1265 level, at a depth
of 120 metres below surface. Development of the 1265 level access crosscut has been completed and development of the main fresh air raise is
well under way.
Surface construction is nearing completion with the installation of
permanent facilities including office facilities, workshop and
warehouse. A main ventilation fan and mine air heater will be installed
by the end of October, 2010. Mining of the Bingo open pit is also
under way, with removal of the first bench of overburden nearing
completion. The subcrop of the Bingo deposit has been exposed and is
being sampled and assayed prior to mining of the second bench.
Jolu mill refurbishment and construction
Progress on the Jolu mill refurbishment and construction of associated
infrastructure is well advanced and remains on schedule for a fourth quarter production start.
Gary Haywood, vice-president of operations and chief operating officer, reports: "We have taken delivery of
most of the major items that were either refurbished or purchased new
and we have started the process of putting the plant back together for
operational readiness. The very detailed assessment and engineering
work we completed prior to starting refurbishment is now paying off, as
the work has proceeded as planned."
Construction of the above ground tailings management facility is nearing
completion, as is construction of the assay lab, offices and workshop.
SaskPower has completed construction of the grid power line to site and
the company is in the process of re-establishing power supply to the
site transformers and associated site power distribution network.
Photos of the progress of the construction and refurbishment work can
be viewed on the company website.
Komis/EP mine development
The company is pleased to report that construction and site preparation
of the Komis/EP site has commenced in preparation for open pit mining
of the EP gold deposit late in the fourth quarter of 2010. The access road is being upgraded, brush clearing and
ground levelling is under way and construction of surface water settling
ponds is nearing completion. It is anticipated that by the end of
October, the site will be ready for Kitsaki Procon JV to commence
mobilization of the mining equipment and crews.
Golden Heart project
The company is pleased to report that it has submitted a project
proposal to the Saskatchewan Ministry of Environment detailing the
company's plans to develop an open pit and underground gold mine at the
project site in 2013. Preliminary open pit design estimates the
extraction of 162,000 tonnes of the potential minable portion of the
measured and indicated resources, at an estimated grade of 4.07 g/t
gold, and an overall strip-ratio of 7.33:1. Preliminary underground
mine design is in progress.
It is expected that the company will be required to submit a further
environmental impact study for the proposed development, so the
necessary environmental baseline data collection has already been
completed in anticipation of that requirement.
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, PEng, Golden Band's vice-president of operations and chief operating officer, who serves as the qualified person (QP)
under the definitions of National Instrument 43-101. Golden Band's exploration programs and pertinent disclosure of a
scientific nature are prepared and/or designed and carried out under
the supervision of James Wong, PEng, PGeo, who serves as the
qualified person (QP) under the definitions of National Instrument
43-101.
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