Golden Band Resources
Golden Band Resources' La Ronge Gold Project study expected soon
Saskatchewan focused gold junior, Golden Band Resources Inc. (GBN:TSXV) released an update on progress at its flagship asset, the La Ronge Gold Project.
The Company confirmed that a Pre-Feasibility Study, earmarked for completion in November 2008 would now be complete in “mid-January” 2009. Golden Bank blamed the delays on considerable changes in industry costs since it had commenced the study, which needed to be reviewed and revised before it released the results. Golden Band did confirm that the economic analyses and financial evaluation were complete, and it was now waiting on the technical studies before updating the market on the studies.
The gold junior added that both federal and provincial environmental assessment processes were proceeding “as expected”. Assuming a final decision is received by May 2009, commencement of mine development could begin in summer 2009, the company added.
“Although the federal assessment process, including the screening level assessment and Schedule 2 listing under the Metal Mining Effluent Regulations (MMER) of the Mallard Tailings Impoundment Area (TIA), is expected to take longer than the provincial process, the Company is expected to be able to commence mining and milling operations by late 2009, using an alternative tailings disposal area, as described in the EIS,” the company said.
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