By Stephanie Froese

Resource data a gold mine

May 31, 2011 | 6:20 AM

A northern Saskatchewan gold deposit is one step closer to becoming an actual mine.

Drilling at the Golden Heart Deposit in the La Ronge Gold Belt indicates potential for some high grade resources, said Rodney Orr, vice president of corporate development for Golden Band Resources.

“It confirms what we had hoped for the deposit and certainly indicates now that additional work is warranted to go in, do more drilling at some point but also to proceed with our mine planning now which is more important,” Orr said.

Orr said data is also showing the resource is likely bigger then what they know about. He called them “open deposits” adding they don’t know the final size of the deposit both horizontally and vertically.

The site has been upgraded to a measure plus indicated category which means drilling information is will be more precise with closer together drill holes. The shorter distance between drillings gives a more accurate picture of what the resources look like in the area.

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Orr said they hope the Golden Heart deposit will be in production in 2013. The company is projecting they will be able to continue mining operations for at least 10 years with the resources that have already been identified.

“We’re looking for years five and beyond for which further deposits wed be looking to put into development stage as well,” Orr said.

Golden Band Resources expects to have environmental approval and public input for the Golden Heart Deposit gathered by this fall.

sfroese@panow.com