Thursday 28th May 2020

Resource Clips

High gold grades

Results from Golden Band’s Roy Lloyd Mine in Saskatchewan

By Greg Klein

Golden Band Resources Inc TSXV:GBN today released assays from its Roy Lloyd Mine in central Saskatchewan. The work is part of La Ronge Gold Project, which includes two operating mines and a near-term goal of bringing three additional deposits into commercial production.

All intercepts from today’s results are true widths. Highlights from shallow drilling on Roy Lloyd’s Bingo Structure include

Results from Golden Band’s Roy Lloyd Mine in Sask

Chairman/Director Ronald Netolitzky at the company’s first gold pour.

  • 15.06 grams per tonne gold over 3.3 metres
  • 9.15 g/t over 3.36 metres
  • 3.17 g/t over 7.56 metres
  • 2.88 g/t over 1.76 metres
  • 2.52 g/t over 1.07 metres
  • 2.31 g/t over 0.8 metres

Depths extend to 34 metres.

Bingo Structure deep-drilling from surface shows results including

  • 19.8 g/t gold over 11.73 metres(including 33.29 g/t over 5.93 metres)
    (including 99.13 g/t over 0.93 metres)
    (including 25.73 g/t over 2.07 metres)
  • 10.61 g/t over 2.13 metres
  • 4.95 g/t over 4.15 metres
  • 15.68 g/t over 1.89 metres

Depths extend to 418 metres.

An underground hole announced September 5 showed

  • 66.85 g/t over 5.32 metres(including 80.12 g/t over 4.42 metres)
    (including 128.37 g/t over 1.73 metres)

The company states that shallow drilling focused on defining near-surface open-pit mineralization for a surface mining operation. Deep drilling was conducted for mine planning and to explore continuity of the Roy Lloyd underground mine mineralization to depth.

The company adds that drilling confirms gold mineralization both laterally to the north and deeper within the Bingo Structure. With confirmation of near-surface mineralization, a small surface mine program is underway. Within the drilling area, Golden Band hopes to upgrade the underground resource inferred category to measured and indicated resources.

Golden Band’s La Ronge Gold Project is a past-producing gold camp with 12 known deposits. Commercial production from Roy Lloyd began in April 2011, with more limited production from the EP open pit starting in December 2011. Development of the Golden Heart open pit is scheduled for completion in mid-2013. Underground development and surface drilling are underway at the former Komis Mine.

The company’s near-term goal includes commercial production of its Bingo, Komis and EP deposits, with eventual production of at least 75,000 gold ounces over a 10-year life. Golden Band’s 700 tpd Jolu Mill sits within 75 kilometres of all the company’s deposits.

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