GBN: TSX Venture Exchange
SASKATOON, Jan. 6 /CNW/ - Golden Band Resources Inc. (GBN:TSXV) is
pleased to provide an update on the following development-related activities,
all of which are directed to achieving gold production in 2009 on the
Company's La Ronge Gold Project in northern Saskatchewan. The Company also
invites its shareholders to visit its new and updated website. This follows on
the recently announced mobile website accessibility. Simply connect to
http://www.goldenbandresources.com/ from either your computer or your handheld
device and you will be directed to the correct Golden Band Resources web page.
Pre-Feasibility Study - La Ronge Gold Project
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The Company had expected to have the Pre-Feasibility Study (PFS)
completed in November (see previous news release of September 10, 2008) but
this has been delayed because of numerous changes to various costs in the
industry since the Preliminary Economic Assessment (see news release of
February 26, 2008 and the Technical Report filed on SEDAR on April 10, 2008)
and because of the subsequent due diligence reviews by both the Company's and
the independent consulting engineers. The economic analyses and financial
evaluation of the Study's results have been completed. These include:
production scheduling and mine planning, revenue calculations, operating and
capital cost estimates, cash flow analyses, and economic indicators.
As with the Company's previously released Preliminary Economic Assessment
report, a conservative base case has been set, as well as a number of
scenarios for different gold prices and exchange rates. The news release that
will summarize all of the Study's findings is anticipated for mid-January,
2009; the timing being to allow for the completion of the Technical Report by
the independent consulting engineers.
Environmental Assessment - La Ronge Gold Project
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Both the provincial and the federal environmental assessment (EA)
processes are proceeding as expected and continue to be within normal
regulatory timelines and expected outcomes. The Company has received
preliminary technical review comments for the Environmental Impact Statement
(EIS) from the Saskatchewan Ministry of Environment for the provincial
assessment. Federal review comments remain outstanding from the Canadian
Environmental Assessment Agency (CEAA). The Company has received
correspondence that Fisheries and Oceans Canada (DFO), as the Responsible
Authority, has submitted its comments to CEAA. The Company has not received
indication when the federal preliminary comments will be issued.
