Gold Bullion releases results from 54 backlogged Granada drill
holes with hole GR-11-310 returning 15.61 g/t Au over 29.23 metres
including 443.78 g/t Au over 1.0 metre near surface
VANCOUVER,
Nov. 8, 2012 /PRNewswire/ - Gold
Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the
"Company" or "Gold Bullion") is pleased to announce the last set of
results from the backlogged drill data at Gold Bullion's Granada
Gold Property. All the backlogged holes have now been logged and
sampled.
The inclusion of this drill data can only
increase the quality of the resource classification and
corresponding resource estimate size. This is the sixth press
release announcing significant additional drill results since the
first NI-43-101 was published last spring. The Company is confident
that the ongoing release of significant drill results is a strong
indication of an ever-increasing potential for a mineable
resource.
Results from the backlogged core continue to
show intersections with grades indicating a low-grade,
high-tonnage, open pit operation with the potential also for a
high-grade underground mining scenario.
The flagship Granada property is located on the prolific
Cadillac trend in northwestern Quebec, just 5 km south of the city of
Rouyn-Noranda with
Osisko-controlled property bordering one side. With Quebec consistently ranking in the top five
best places to mine globally, the jurisdiction is widely
acknowledged as world class with a rich history of mining,
featuring numerous economic gold deposits and operating gold mines.
The advanced infrastructure around the Granada gold property will be utilized and is
an advantage for the Company as plans unfold for mine development
and gold production.
The in situ measured resource is 97,700 ounces
(3.02 million tonnes grading 1.01 g/t), indicated resource is
543,400 ounces (17.04 million tonnes grading 0.99 g/t), inferred
resource is 846,600 ounces gold (23.93 million tonnes grading 1.10
g/t Au) using a cut-off grade of 0.40g/t. The Company also plans
continued systematic drilling of the Granada gold deposit with some 80% of the
property yet to be explored.
The entire table of results is included and
follows these highlights:
- Hole GR-11-310: 15.61 g/t Au over 29.23 metres from 15.0
metres to 44.23 metres including 88.97 g/t Au over 5.0 metres from
21.0 metres to 26.0 metres and including 443.78 g/t Au over 1.0
metre from 22.0 metres to 23.0 metres
- Hole GR-11-311: 2.49 g/t Au over 32.0 metres from
54.5metres to 86.5 metres including 9.44 g/t Au over 7.5 metres
from 65.5 metres to 73.0 metres and including 0.74 g/t Au over 23.5
metres from 157.0 metres to 180.5 metres
- Hole GR-11-377: 0.62 g/t Au over 88.5 metres from 261.0
metres to 349.5 metres including 4 distinct intervals: 1.79
g/t Au over 6.0 metres from 261.0 metres to 267.0 metres and 3.56
g/t Au over 6.5 metres from 325.0 metres to 331.5 metres and 1.05
g/t Au over 4.5 metres from 345.0 metres to 349.5 metres and 3.72
g/t Au over 3.5 metres from 427.5 metres to 431.0 metres.
- Hole GR-11-384: 0.44 g/t Au over 42.0 metres from 309.0
metres to 351.0 metres and a deep interval of 18.25 g/t Au over 6.0
metres from 422.5 metres to 428.5 metres
| Hole |
From (m) |
To (m) |
Length(m) |
Au g/t |
| GR-11-241 |
283.00 |
289.00 |
6.00 |
2.25 |
| GR-11-242 |
93.50 |
207.20 |
113.70 |
0.50 |
| including |
100.50 |
109.00 |
8.50 |
2.21 |
| including |
176.90 |
181.00 |
4.10 |
4.04 |
| GR-11-246 |
243.00 |
283.50 |
40.50 |
0.47 |
| GR-11-251 |
NSI |
|
|
|
| GR-11-253 |
127.50 |
139.50 |
12.00 |
1.60 |
| GR-11-254 |
NSI |
|
|
|
| GR-11-257 |
165.50 |
211.50 |
46.00 |
2.25 |
| including |
189.50 |
211.50 |
22.00 |
4.42 |
| including |
312.00 |
323.50 |
11.50 |
0.41 |
| GR-11-261 |
23.50 |
31.75 |
8.25 |
0.52 |
| GR-11-261 |
223.50 |
258.00 |
34.50 |
0.31 |
| GR-11-262 |
NSI |
|
|
|
| GR-11-263 |
NSI |
|
|
|
| GR-11-264 |
347.00 |
353.00 |
6.00 |
3.31 |
| GR-11-270 |
NSI |
|
|
|
| GR-11-285 |
13.25 |
30.70 |
17.45 |
0.88 |
| GR-11-288 |
NSI |
|
|
|
| GR-11-299 |
18.50 |
97.00 |
78.50 |
0.54 |
| including |
25.00 |
35.00 |
10.00 |
1.34 |
| including |
80.00 |
97.00 |
17.00 |
1.14 |
| including |
89.00 |
97.00 |
8.00 |
1.95 |
| GR-11-300 |
16.50 |
84.50 |
68.00 |
0.70 |
| including |
16.50 |
28.50 |
12.00 |
0.89 |
| including |
68.50 |
84.50 |
16.00 |
1.98 |
| GR-11-301 |
51.00 |
55.50 |
4.50 |
1.18 |
| GR-11-302 |
16.00 |
126.50 |
110.50 |
0.48 |
| including |
16.00 |
83.50 |
67.50 |
0.68 |
| including |
30.00 |
53.50 |
23.50 |
1.11 |
| including |
46.00 |
53.50 |
7.50 |
2.47 |
| including |
75.50 |
83.50 |
8.00 |
1.26 |
| GR-11-303 |
9.50 |
137.00 |
127.50 |
0.66 |
| including |
9.50 |
43.00 |
33.50 |
1.77 |
| including |
68.50 |
98.00 |
29.50 |
0.57 |
| including |
87.00 |
98.00 |
11.00 |
0.83 |
| GR-11-304A |
229.50 |
345.00 |
115.50 |
0.34 |
| including |
229.50 |
240.00 |
10.50 |
0.60 |
| including |
290.00 |
300.00 |
10.00 |
1.30 |
| including |
316.50 |
326.00 |
9.50 |
0.64 |
| GR-11-305 |
11.00 |
20.00 |
9.00 |
0.52 |
| including |
10.00 |
13.00 |
3.00 |
1.18 |
| GR-11-305 |
70.50 |
82.00 |
11.50 |
0.58 |
| GR-11-306 |
11.00 |
20.00 |
9.00 |
0.52 |
| GR-11-306 |
70.50 |
82.00 |
11.50 |
0.58 |
| including |
76.50 |
82.00 |
5.50 |
0.60 |
| GR-11-307 |
61.00 |
79.50 |
18.50 |
0.36 |
| including |
62.00 |
67.00 |
5.00 |
1.01 |
| GR-11-308 |
29.00 |
90.00 |
61.00 |
0.34 |
| including |
29.00 |
33.50 |
4.50 |
3.11 |
| GR-11-309 |
12.50 |
91.50 |
79.00 |
0.89 |
| including |
55.00 |
91.50 |
36.50 |
1.71 |
| including |
60.50 |
85.00 |
24.50 |
2.26 |
| including |
60.50 |
71.50 |
11.00 |
3.87 |
| including |
77.00 |
85.00 |
8.00 |
1.54 |
| GR-11-309 |
154.50 |
165.00 |
10.50 |
0.82 |
| GR-11-310 |
15.00 |
44.23 |
29.23 |
15.61 |
| including |
21.00 |
26.00 |
5.00 |
88.97 |
| including |
22.00 |
23.00 |
1.00 |
443.78 |
| GR-11-311 |
54.50 |
86.50 |
32.00 |
2.49 |
| including |
65.50 |
73.00 |
7.50 |
9.44 |
| GR-11-311 |
157.00 |
180.50 |
23.50 |
0.74 |
| including |
157.00 |
169.00 |
12.00 |
1.17 |
| GR-11-312 |
27.58 |
38.50 |
10.92 |
0.70 |
| Including |
27.58 |
30.50 |
2.92 |
1.65 |
| GR-11-312 |
84.00 |
87.00 |
3.00 |
1.50 |
| GR-11-313 |
3.30 |
51.95 |
48.65 |
0.37 |
| including |
3.30 |
10.00 |
6.70 |
1.80 |
| GR-11-313 |
106.00 |
117.50 |
11.50 |
0.45 |
| GR-11-313 |
117.50 |
132.50 |
15.00 |
0.48 |
| GR-11-314 |
3.30 |
78.00 |
74.70 |
0.41 |
| including |
61.00 |
78.00 |
17.00 |
1.10 |
| including |
61.00 |
65.50 |
4.50 |
2.12 |
| and |
25.50 |
29.50 |
4.00 |
0.74 |
| GR-11-315 |
66.50 |
109.50 |
43.00 |
0.32 |
| including |
76.00 |
109.50 |
33.50 |
0.36 |
| including |
76.00 |
89.00 |
13.00 |
0.55 |
| and |
102.00 |
109.50 |
7.50 |
0.52 |
| GR-11-316 |
105.50 |
150.00 |
44.50 |
0.37 |
| including |
105.50 |
122.00 |
16.50 |
0.68 |
| including |
113.00 |
122.00 |
9.00 |
1.01 |
| GR-11-317 |
NSI |
|
|
|
| GR-11-318 |
NSI |
|
|
|
| GR-11-319 |
76.00 |
79.00 |
3.00 |
0.48 |
| GR-11-320 |
12.00 |
84.00 |
72.00 |
0.46 |
| including |
32.00 |
44.50 |
12.50 |
1.84 |
| GR-11-321 |
94.50 |
101.00 |
6.50 |
0.97 |
| including |
94.50 |
97.50 |
3.00 |
1.63 |
| GR-11-322 |
24.50 |
33.00 |
8.50 |
0.46 |
| GR-11-322 |
79.50 |
85.50 |
6.00 |
0.67 |
| GR-11-323 |
NSI |
|
|
|
| GR-11-324 |
25.00 |
40.00 |
15.00 |
0.66 |
| including |
34.50 |
39.00 |
4.50 |
1.74 |
| GR-11-325 |
NSI |
|
|
|
| GR-11-326 |
4.50 |
93.50 |
89.00 |
0.65 |
| including |
4.50 |
22.00 |
17.50 |
2.78 |
| including |
11.40 |
15.50 |
4.10 |
11.16 |
| GR-11-324 |
95.85 |
99.00 |
3.15 |
0.70 |
| GR-11-328 |
12.50 |
47.00 |
34.50 |
0.78 |
| including |
31.50 |
47.00 |
15.50 |
1.59 |
| GR-11-328 |
71.50 |
118.5 |
47.00 |
0.44 |
| including |
114.50 |
118.5 |
4.00 |
3.20 |
| GR-11-329 |
16.50 |
19.50 |
3.00 |
1.21 |
| GR-11-329 |
45.90 |
48.00 |
2.10 |
1.08 |
| GR-11-334 |
75.50 |
80.50 |
5.00 |
0.88 |
| GR-11-334 |
105.50 |
121.50 |
16.00 |
0.50 |
| GR-11-341 |
205.50 |
235.50 |
30.00 |
0.44 |
| including |
205.50 |
211.50 |
6.00 |
1.21 |
| including |
205.50 |
216.00 |
10.50 |
1.01 |
| GR-11-345 |
91.50 |
140.00 |
48.50 |
0.50 |
| including |
91.50 |
96.00 |
4.50 |
2.77 |
| GR-11-345 |
227.50 |
243.00 |
15.50 |
0.45 |
| GR-11-345 |
333.50 |
336.50 |
3.00 |
4.45 |
| GR-11-368 |
184.00 |
205.15 |
21.15 |
1.72 |
| including |
201.00 |
205.15 |
4.15 |
7.89 |
| GR-11-369 |
156.00 |
211.00 |
55.00 |
0.41 |
| including |
156.00 |
179.00 |
23.00 |
0.72 |
| including |
157.00 |
167.00 |
10.00 |
1.19 |
| GR-11-377 |
261.00 |
349.50 |
88.50 |
0.62 |
| including |
261.00 |
267.00 |
6.00 |
1.79 |
| including |
325.00 |
331.50 |
6.50 |
3.56 |
| including |
345.00 |
349.50 |
4.50 |
1.05 |
| GR-11-377 |
427.50 |
431.00 |
3.50 |
3.72 |
| GR-11-379 |
10.50 |
15.85 |
5.35 |
0.90 |
| GR-11-384 |
422.50 |
428.50 |
6.00 |
18.25 |
| GR-11-384 |
309.00 |
351.00 |
42.00 |
0.44 |
| GR-11-385 |
64.50 |
73.50 |
9.00 |
0.81 |
| GR-11-394 |
302.50 |
319.50 |
17.00 |
1.23 |
| including |
302.50 |
307.00 |
4.50 |
3.28 |
| GR-11-394 |
516.00 |
519.00 |
3.00 |
2.58 |
Core lengths are close to true thickness and
uncut. Gold Bullion samples and assays all drill holes in their
entirety due to the nature of the mineralization and to ensure even
the lower grade mineralization is evaluated. In defining
grade intervals, in some cases we have included up to 25 metre
intervals of internal waste which are determined using the original
assay data and the weighted grade cutoff of 0.25 g/t to 0.35 g/t
depending on depth of intersection.
Of the 54 holes reported here, 81.5% contained
measurable gold with just 10 reporting back non-significant
values.
Accurassay Laboratory conducted the 50-gram fire
assay testing at their facility in Ontario with blanks and standards inserted
into the sequence in addition to Laboratory QA/QC.
Frank Basa, Gold
Bullion's CEO, is very pleased about these infill drill results
that concurrently increase the quality of the resource
classification while supporting the exceptional potential of the
property. The Company looks forward to releasing the updated
NI-43-101 prior to year-end, 2012.
Claude Duplessis, Eng. is acting as the
qualified person (QP) for Gold Bullion Development Corp. in
compliance with National Instrument 43-101 and has reviewed the
technical contents of this press release.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX
Venture-listed junior natural resource company focusing on the
exploration and development of its Granada Property near
Rouyn-Noranda, Québec.
Additional information on the company's Granada gold property is available by visiting
the website at www.GoldBullionDevelopmentCorp.com and on
SEDAR.com.
"Frank J. Basa"
Frank J. Basa,
P.Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This news release may
contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking
statements address future events and conditions and therefore,
involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.
SOURCE Gold Bullion Development Corp.