Golden Band Resources Inc.
TSX VENTURE : GBN

Golden Band Resources Inc.

December 06, 2006 17:02 ET

Golden Band Continues to Define Birch Crossing Gold Deposit

SASKATOON, SASKATCHEWAN--(CCNMatthews - Dec. 6, 2006) - Golden Band Resources Inc. (the "Company") (TSX VENTURE:GBN) is pleased to announce the results of the 2006 summer drilling program on the Birch Crossing deposit. A total of 17 diamond-drill holes (BC-49 to BC-65; 2,155 m) were completed along the western margin of the deposit and as undercut holes examining the continuity of mineralization at greater depth in the centre of the deposit (Figure 1). Completed on October 10, the timely receipt of assays from the lab was delayed because of the very high demand for their services during the summer exploration season.

Table 1 contains a summary of the assay data for the 2006 summer program drilling. Highlights include 47.96 g/t gold over 6.8 m (BC-56, 106.5-113.3 m) and 8.48 g/t gold over 5.8 m (BC-58, 98.8-104.6 m) in the central portion of the Southern Red Cube Zone. The assay results also contain numerous intervals of elevated gold values in the 0.1 to 0.8 g/t range that are not included in the summary, with the exception of some of the wider zones of elevated gold.

The northern portion and the potentially best-mineralized central part of the deposit were inaccessible during summer months because of swampy ground conditions. Given these limitations, the objectives of the summer drill program were to provide (i) definition for the southern, western, and eastern limits of the high grade gold mineralization hosted in the Southern Red Cube Zone, and (ii) better definition of the limits of the lower-grade Alder Zone. The lack of accessibility to the northern portion of the deposit prevented sufficient holes to be completed to support a resource estimate.

While successful in helping to define the limits of both of these gold-bearing zones, the location of the step-out drillholes required testing of low-grade to barren areas beyond the limits of the known deposit. The drillholes completed during this program and holes from prior programs are indicated on Figure 1.

The maximum vertical extent currently tested by drilling in the Southern Red Cube Zone is still only 119 m, while the Alder Zone is now tested to a vertical depth of 55 m. The Birch Crossing deposit remains open. The total length in the east-west direction of the Red Cube Zone that has been drill tested is 250 m, of which 125 m is now known to contain well-mineralized drillholes. The north-south extent of the higher-grade Red Cube Zone is some 60 m.

The higher-grade Southern Red Cube gold mineralization at Birch Crossing is associated with a steeply dipping, potassic altered (chlorite-biotite-carbonate-potassic feldspar-hematite-pyrite) quartz vein assemblage. The Alder Zone gold mineralization is a similarly potassic-altered mylonite zone that occupies the hanging wall of the Byers Tectonic Zone. Structurally, the Birch Crossing deposit appears to occupy a V-shaped structural warp in the regional, east-west trending Byers Tectonic Zone.

Golden Band continues to be encouraged by the overall potential of the Birch Crossing deposit to host economic gold mineralization and is currently planning additional in-fill and definition drilling in a focussed 2007 winter exploration program.

2007 Winter Program

A significant drilling program is being planned for the upcoming winter season. In addition to testing the Birch Crossing deposit at greater depth and completing sufficient drilling to prepare a NI 43-101 compliant resource estimate, other drilling targets are being considered. Among the objectives for the winter drilling will be to obtain additional details on a number of Golden Band's deposits that may be sources of higher-grade feed for the Jolu mill, and to follow-up on initial encouraging results for several prospects initially tested by drilling in 2006. This work is expected to begin in mid-January and will continue until spring break-up.

Scoping Study and Related Pre-Development Work

Work continues in the definition of higher-grade mineralization from Golden Band's known deposits that may serve as mill feed for its Jolu mill operations. Various models are being examined so as to arrive at a minimum of 750,000 tonnes of ore that would provide a 5-year project life for the mine/mill operations. Related items that are being studied in greater detail include deposit block models, open pit vs. underground mining options, grade cut-offs, pit outlines, stripping ratios, electrical power (grid vs. diesel generator), and access and haul road requirements. The year-long environmental baseline study that began in September has seen the completion of the fall fish spawning survey and the start of the winter wildlife tracking survey. Work is underway on the preparation of independent NI 43-101 resource estimates for the EP and Niko-Kaslo deposits.

About Golden Band

Golden Band Resources is a well-financed Saskatchewan-based company 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 70,000 hectares, including ten known gold deposits, four former producing mines, and a licensed gold mill. The development of these assets is the subject of a scoping study which is examining the mining of higher-grade mineralization and processing it at the Company's 100%-owned Jolu Mill.

On behalf of the Board of Directors,

Ronald K. Netolitzky, President and CEO

All of Golden Band's exploration programs and pertinent disclosure of a technical or scientific nature are prepared and/or designed and carried out under the supervision of Ron Avery, P.Geo., Golden Band's Exploration Manager, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

Forward-Looking Information: Certain information contained in this document, including any information as to our future financial or operating performance, constitutes "forward-looking statements". The Company may, from time to time, also make oral forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Many factors may affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this document are qualified by these cautionary statements. We disclaim any intention or obligation to update or revise any oral or written forward-looking statements whether as a result of new information, future events, or otherwise.



--------------------------------------------------------------------------
Table 1: Birch Crossing Deposit Assay Data,
2006 Summer Drilling Program
Aggregated Uncut Gold Results Based on 704 SFA(1) Samples
(intervals are along the DH; range: 0.3 to 6.3 m, average 1.3 m)
--------------------------------------------------------------------------
Drillhole Fire
Target Drillhole Inclination Depth From To Interval Assay
(m) (m) (m) (m) (g/t Au)
--------------------------------------------------------------------------
SRC U BC-49 -45 degrees N 161.5 85.0 86.1 1.10 1.54
-------------------------------
95.4 95.8 0.40 6.01
-------------------------------
116.0 118.0 2.00 0.94
-------------------------------
127.0 133.0 6.00 1.07
--------------------------------------------------------------------------
SRC SW BC-50 -45 degrees N 155.5 42.2 45.2 3.00 0.75
-------------------------------
49.7 51.0 1.30 2.09
-------------------------------
60.5 68.8 8.30 0.77
--------------------------------------------------------------------------
SRC SW BC-51 -45 degrees N 91.4 40.8 41.5 0.70 2.29
--------------------------------------------------------------------------
SRC SW BC-52 -45 degrees N 76.2 74.5 76.2 1.70 0.98
--------------------------------------------------------------------------
SRC SW BC-53 -45 degrees N 91.4 53.5 55.0 1.50 0.85
--------------------------------------------------------------------------
SRC SW BC-54 -45 degrees S 185.9 181.6 183.2 1.60 0.95
--------------------------------------------------------------------------
SRC SW BC-55 -45 degrees N 137.2 no significant value greater
than 0.75 g/t Au
--------------------------------------------------------------------------
SRC U BC-56 -45 degrees N 131.1 105.5 131.6 26.10 13.15
-------------------------------
incl 106.5 113.3 6.80 47.96
-------------------------------
incl 106.5 108.8 2.30 7.48
-------------------------------
incl 108.8 109.3 0.50 602.80
--------------------------------------------------------------------------
SRC U BC-57 -60 degrees N 173.8 124.3 125.0 0.70 1.08
-------------------------------
143.0 144.5 1.50 1.04
-------------------------------
172.2 173.8 1.60 2.03
--------------------------------------------------------------------------
SRC U BC-58 -45 degrees N 112.8 63.0 70.3 7.30 1.40
-------------------------------
79.1 85.0 5.90 0.74
-------------------------------
89.6 104.6 15.00 3.60
-------------------------------
incl 98.8 104.6 5.80 8.48
-------------------------------
incl 101.2 103.6 2.40 17.76
--------------------------------------------------------------------------
SRC U BC-59 -45 degrees N 158.5 36.6 37.3 0.70 1.04
-------------------------------
126.0 129.0 3.00 1.20
--------------------------------------------------------------------------
SRC U BC-60 -45 degrees N 173.7 163.6 169.5 5.90 0.89
--------------------------------------------------------------------------
SRC E BC-61 -45 degrees N 100.6 no significant value greater
than 0.75 g/t Au
--------------------------------------------------------------------------
AZ W BC-62 -45 degrees N 100.6 30.1 34.6 4.50 2.54
--------------------------------------------------------------------------
AZ W BC-63 -45 degrees N 100.6 55.0 58.0 3.00 0.88
--------------------------------------------------------------------------
AZ W BC-64 -45 degrees N 103.6 no significant value greater
than 0.75 g/t Au
--------------------------------------------------------------------------
AZ W BC-65 -45 degrees N 100.6 no significant value greater
than 0.75 g/t Au
--------------------------------------------------------------------------

(1) Standard Fire Assay.
(2) SRC SW equals southwest extension; SRC E equals eastern extension;
SRC U equals undercut DH in central part.
(3) Length-weighted averages.


To view Figure 1, please click on the following link: http://www.ccnmatthews.com/docs/gbn1206.pdf


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information