via GBN.V Website - Jolu Mine

The Jolu Mine had only been in operation for a short time before short sellers closed operations for good during the 1980's as the prospect could no longer raise the necessary capital for an expansion. During the'70's it was excess royalties that precluded development. During the sixties, it was gold mines going bankrupt throughout Canada.

The next operator, Golden Rule, made the expansion plan a top priority, but succumbed to the gold price low in 1997. The expansion plan had been in place for at least 17 years, but no development occurred until consolidation of the properties under GBN.V.

GBN.V has always had the potential to continue the expansion with an operational mill, and zero capital requirements. ZERO. The modification to schedule 2 of the Metals, Mining And Effluent Regulations act clearly states the cost benefit analysis is for a 25-year project.

Mallard Lake sits between two ridges, where tailings deposition can be expanded as needed. It will cost $3m. over 25 years to build and expand. The company spends that in a quarter, after expansion, they'll spend that in a week.

The expansion is to include two major discoveries, the Jolu Mine, and the Komis Mine, both analogous to historic long-life mines in Ontario and Quebec. The Jolu Mine is analogous to the Sigma Mine, and the Komis Mine is analogous to the Dome Mine.

Electrical power necessary for expansion is already in place. But, they have been developing the Jolu Mine without announcing the fact.

The Jolu Mine Portal

The Jolu Mine portal is covered by a shed near the Alimak open pit:

http://www.goldenbandresources.com/images/file/Figure%202%20-%20Jolu_Planview300109.pdf

Bing Maps

Vehicles being loaded with waste rock at the Jolu Mine Portal, meaning that the Jolu Mine has been under development:

http://binged.it/1Hnk4RU

Here.com

Mining equipment is parked at the entrance of the Jolu Mine, as development had been completed by Aug, 2014. All of the residual broken ores left in stopes since the late 1980's had been processed at the mill, and waste rock from development was deposited next to the EP Zone.

https://bit.ly/1IHbUHl