VANCOUVER,
Nov. 26, 2012 /PRNewswire/ - Gold
Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the
"Company" or "Gold Bullion") is pleased to announce the potential
quantity and grade ranges for the underground extensions at its
Granada gold property, located on
the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda.
Based on the resource estimate information and
the deep hole program interpretation, SGS Canada Inc. has provided
the following potential quantity and grade ranges:
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POTENTIAL QUANTITY AND GRADE RANGES (1)
|
| Zone |
Metric Tonnes (Million) |
Gold grade (g/t) |
| UG extension West |
7.4 to 11.1 |
3.40 to 4.70 |
| UG extension East |
2.2 to 3.3 |
3.20 to 4.30 |
| Total |
9.6 to 14.4 |
3.35 to 4.61 |
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| (1) |
The potential quantity and grade is conceptual in nature as
there has
been insufficient exploration to define a mineral resource and it
is
uncertain if further exploration will result in the target being
delineated
as a mineral resource. |
The potential stated above is based on
projections within the mineralized plan of two and three
mineralized zones of 3 meters true width on the west and east side
of the deep hole program under highly drilled surface
mineralization.
As disclosed in Gold Bullion's press release of
November 15, 2012:
The total gold resource at Granada now stands at 1,605,000 gold ounces in
the Measured and Indicated categories with 1,033,000 gold ounces in
the Inferred category using a cut-off grade of 0.40 g/t. The in
situ measured resource is 946,000 ounces (28.735 million tonnes
grading 1.02 g/t), indicated resource is 659,000 ounces (18.740
million tonnes grading 1.09 g/t), and inferred resource is
1,033,000 ounces (29.975 million tonnes grading 1.07 g/t Au), using
a cut-off grade of 0.40 g/t. Additional information can be found in
the Company's press release of November 15,
2012.
On April 22, 2010
the Company set a target of 2.4 to 2.6 million ounces of gold as
per the original preliminary block model estimate. That target has
been hit as evidenced by the press release dated November 15, 2012. Based on this additional data
from SGS, Frank J. Basa, Gold
Bullion's CEO, is very pleased to state "The Company is now
targeting 3.6 to 4.6 million ounces of gold from the next phase of
the continued exploration program at Granada with some 80% of the extended
Long Bars zone remaining to be
explored."
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.