VANCOUVER,
Feb. 14, 2013 /PRNewswire/ - Gold
Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) (the "Company"
or "Gold Bullion") is pleased to announce the results of a high
definition mineralogy study and some scoping level flotation and
gravity separation tests done at SGS Lakefield on samples from its
Beaver Silver Property, located 15 kilometres east of the historic
silver camp in Cobalt,
Ontario.
The Company's geological consultant hand cobbed
400 kilograms of cobalt-nickel sulfide material from the historic
waste pile at the Beaver Silver Mine. The 20 kilogram sample used
in this test program, has an average calculated assay of 7.98
percent Cobalt, 3.98 percent
Nickel and 1246 grams per tonne silver. Combined gravity-flotation
recoveries from the limited test program yielded 64.2 percent for
Cobalt, 61.2 percent for Nickel
and 92.0 percent for Silver. No real effort was made to produce a
sellable concentrate.
The Company is encouraged by these test results
and is extending the test program by doing further gravity
concentration of the material followed by pressure leaching. The
Company plans, at this stage, to produce a bulk metal hydroxide
cake with the long-term objective of producing a Cobalt product for the Lithium-Ion battery
market. The present test program will examine Silver and
Cobalt-Nickel sulfides only.
The drill program undertaken at the Company's
Castle Silver Mine in 2011 indicated, in addition to high silver
assays, the presence of sulfide metals, gold and platinum group
metals. A 43-101 Technical Report dated August 15, 2011 for Castle Silver Mines Inc., the
Company's wholly owned subsidiary, on the Castle Silver Property is
available for viewing on SEDAR.
The Company plans to release an update on the
work undertaken at the Castle Silver Mine, located 85 kilometres
northwest of the historic silver camp in Cobalt, Ontario. The historic silver camp of
Cobalt, Ontario, which includes
Gowganda and Silver Centre, has
produced over 660 million ounces of silver since the early
1900s.
1. HIGH DEFINITION MINERALOGY
STUDY
Three hand specimens from the Beaver Silver
Property, Cobalt, Ontario, were
submitted by Mr. Gilbert Rousseau of
SGS Geostat on behalf of Gold Bullion for a high definition
mineralogical examination.
XRD Analysis
The sample consists of major amounts of
nickeline (NiAs), moderate
skutterudite (Co,Ni)As3 and rammelsbergite (NiAs2), minor quartz
(SiO2), calcite (CaCO3), dolomite
[CaMg(CO3)2], safflorite
[(Co,Fe)As2], gersdorffite (NiAsS), arsenopyrite
(FeAsS), and tentatively identified chlorite, amphibole and
analcime.
SEM-EDS Analysis
The samples were also investigated with a
Scanning Electron microscope (SEM) equipped with an Energy
Dispersive Spectrometer (EDS). The investigation also
identified a REE epidote, annabergites, Bismuthinite, native Bi,
and tentatively identified borodaevite.
Mineral Chemistry
Electron Microprobe analyses were conducted to
determine the chemistry of Co-Ni-Fe sulfarsenides and
arsenides. The average elemental values (in wt%) are given in
Table 1.
Average Chemistry of Co-Ni-Fe
Sulfarsenides and Arsenides |
Mineral/Element |
S |
Ag |
Fe |
Co |
Ni |
As |
Total |
Safflorite/Skutterudite |
0.52 |
0.02 |
5.40 |
16.36 |
4.49 |
73.82 |
100.62 |
Nickeline |
0.01 |
0.01 |
0.05 |
0.16 |
45.36 |
55.50 |
101.12 |
Alloclasite |
16.11 |
0.02 |
2.07 |
17.92 |
15.09 |
49.64 |
100.86 |
Arsenopyrite |
19.03 |
0.01 |
33.51 |
0.77 |
0.65 |
45.58 |
99.55 |
Detection Limts (%) |
0.02 |
0.04 |
0.08 |
0.11 |
0.13 |
0.05 |
|
On the basis of the electron microprobe data,
presented below, four mineral groups have been identified and
include:
(a) arsenopyrite (FeAsS);
(b) nickeline (NiAs) and
rammelsbergite (NiAs2);
(c) safflorite [(Co,Fe)As2] and skutterudite
(Co,Ni)As3; and
(d) alloclasite referring to a varied in composition phase
(Fe,Co,Ni)3As4S3.
As Received Sample
The calculated modal mineralogy from the three
mounts shows that the sample consists of nickeline 32.7%,
safflorite/skutterudite 28.0%, alloclasite 13.3%, carbonates
(calcite and dolomite) 20.9%, and minor quartz (2.2%) and chlorite
(1.2%), while other minerals are in trace amounts.
Size By Size QEMSCAN™ Analysis
The sample consists mainly of nickeline (28.3%),
alloclasite (26.7%), safflorite/skutterudite (20.3%), arsenopyrite
(3.1%), calcite (8.0%), dolomite (6.6%), chlorite (4.2%), quartz
(1.7%), and trace amounts of other sulphides (0.2%), feldspars
(0.2%), other silicates (0.6%).
Occurrence of Ag
Ag grades are between 40 and 80 g/t in the
sample. Electron microprobe analyses of the main Fe-Ni-Co
sulfoarsenides and arsenides indicate that Ag is below the
detection limit. Ag was tentatively identified as borodaevite.
Elemental Distribution
The elemental distribution is calculated based
on the average chemistry of the Co-Ni-Fe sulfarsenides and
arsenides and their mass % as calculated by the QEMSCAN™
analysis. Most of the Co is accounted by alloclasite (58.6%)
and safflorite/skutterudite (40.5%). Most of the Ni is accounted by
nickeline (71.5%) and alloclasite (23.1%) and less by
safflorite/skutterudite (5.%). Most of the As is accounted by
nickeline (34.8%), safflorite/skutterudite (33.1%) and alloclasite
(28.9%) and minor arsenopyrite (3.1%).
Grain Size Distribution
The following table summarizes the (mid point in
the size distribution) D50 or 50% passing value from the
cumulative grain size distribution of selected minerals.
The D50
(in μm) of Selected Minerals for Sample |
Mineral |
D50 (in μm) |
Arsenopyrie |
15 |
Alloclastite |
53 |
Nickeline |
57 |
Safflorite/Skutterudite |
47 |
Quartz/Feldspars |
44 |
Micas/Clays |
26 |
Carbonates |
36 |
Particle |
53 |
Note: Several grains make up a
particle. A particle usually refers to a fragment of a rock
or ore, the size of which is dependent on crushing and milling
conditions.
Liberation and Association
Nickeline
Free and liberated nickeline account for
84.7%. The main association of nickeline is as middlings with
alloclasite (12.3%), and minor middlings with
arsenopyrite/alloclasite/safflorite/skutterudite (1.4%), and
complex particles (1.0%). Liberation of nickeline increases
moderately from 77% to 84% to 93% from the +106 to -53 μm
fractions.
The particle liberation by size indicates that
free and liberated particles are equally distributed at below and
above 50 µm size class at 37 and 48%, respectively. Middling
particles account for 3% and 12%, respectively.
Safflorite/Skutterudite
Free and liberated safflorite/skutterudite
account for 82.3%. The main association of safflorite/skutterudite
is as middlings with arsenopyrite/alloclasite/nickeline (6.2%),
alloclasite (5.2%), complex particles (2.5%) and arsenopyrite
(2.3%). Liberation of safflorite/skutterudite increases
significantly from, ~73% to 81% to 91%, the +106 μm to -53 μm size
fractions.
The particle liberation by size indicates that
free and liberated particles are equally distributed at below and
above 53 µm size class at 44% and 38%, respectively. Middling
particles account for 5% and 13%, respectively.
Alloclasite
Free and liberated alloclasite account for
73.8%. The main association of alloclasite is as middlings
with nickeline (10.9%), middlings with
arsenopyrite/nickeline/safflorite/skutterudite (5.2%), skutterudite
(4.5%), complex (3.1%), arsenopyrite (1.6%) and trace associations
(1%) with other minerals. Liberation of alloclasite increases
significantly from, 63% to 75% to 84%, the +106 to -53 μm
fractions.
The particle liberation by size indicates that
free and liberated particles account for 35% and 28% at above and
below the 53 µm size class, respectively. Middling particles
account for 7% and 19%, respectively.
Arsenopyrite
Free and liberated arsenopyrite account for
44.5%. The main association of arsenopyrite is with
alloclasite (15.6%), alloclasite/nickeline/safflorite/skutterudite
(13.9%), safflorite/skutterudite (11.8%) and complex particles
(10.7%). Liberation of arsenopyrite increases significantly
from 14% to 18% to ~60%, the +106 to -53 μm fractions.
Middling particles generally decrease with decreasing particle
size.
The particle liberation by size indicates that
free and liberated particles account for, at below and above the 53
µm size class, at 39% and 6%, respectively. Middling particles
account for 23% and 32%, respectively.
Mineral Release
Mineral release curves for arsenopyrite,
alloclasite, nickeline and safflorite-skutterudite are as
follows.
Liberation of arsenopyrite ranges from 14% to
18% to 60% for grains sizes of 226 μm, 75 μm, 13 μm,
respectively.
Liberation of the alloclasite ranges from 63% to
75% to 84% for the same sizes, respectively.
Liberation of nickeline ranges from 77% to 84%
to 93% for the same sizes, respectively.
Liberation of the safflorite-skutterudite ranges
from 72% to 81% to 91% for the same sizes, respectively.
Grade and Recovery
Grades and recoveries are based on the minerals
instead of Co, Ni and As grades due to the complexity of the
mineral chemistry.
The grade-recovery calculations representing the
whole sample indicate:
- nickeline grades between 98% and 89% for nickeline recoveries
of 85% to 98%, respectively;
- alloclasite grades between 96% and 78% for alloclasite
recoveries of 74% to 97%, respectively.
- safflorite/skutterudite grades between 98% and 86% for
safflorite/skutterudite recoveries of 83% to 97%, respectively.
- arsenopyrite grades between 98% and 62% for arsenopyrite
recoveries of 45% to 73%, respectively.
2. METALLURGICAL TESTS
Two very limited flotation and one
flotation-gravity tests were done on the cobalt-nickel
samples. Average calculated head grades were as follows :
|
|
|
|
TEST |
Co % |
Ni% |
Ag g/t |
1 |
7.96 |
4 |
1296 |
2 |
7.72 |
3.81 |
1298 |
3 |
8.25 |
4.14 |
1144 |
Avr |
7.98 |
3.98 |
1246 |
2.1 Flotation Test #1
Metallurgical Balance
Product |
Weight |
Assays %, g/t |
% Distribution |
|
g |
% |
Co |
Ni |
Ag |
S |
Co |
Ni |
Ag |
S |
Ro Conc 1 |
163.6 |
8.2 |
9.60 |
7.81 |
12754.00 |
4.41 |
9.9 |
15.7 |
84.0 |
26.4 |
Ro Conc 2 |
77.9 |
3.9 |
8.89 |
6.01 |
1133.00 |
3.46 |
4.4 |
5.7 |
3.6 |
9.8 |
Ro Conc 3 |
41.8 |
2.1 |
8.51 |
5.16 |
610.00 |
2.64 |
2.2 |
2.6 |
1.0 |
4.0 |
Ro Conc 4 |
37.5 |
1.9 |
8.15 |
4.75 |
452.00 |
2.44 |
1.9 |
2.2 |
0.7 |
3.3 |
Rougher Tail |
1676.4 |
83.9 |
7.74 |
3.58 |
159.00 |
0.92 |
81.6 |
73.7 |
10.7 |
56.4 |
Head (calc) |
1997.2 |
100.0 |
7.96 |
4.08 |
1243.88 |
1.37 |
100.0 |
100.0 |
100.0 |
100.0 |
(direct) |
|
|
7.74 |
4.00 |
1296.00 |
1.15 |
|
|
|
|
Combined
Products |
|
|
|
|
|
|
|
|
|
Ro Conc 1 |
|
8.20 |
9.60 |
7.81 |
12754.00 |
4.41 |
9.9 |
15.7 |
84.0 |
26.4 |
Ro Conc 1-2 |
|
12.10 |
9.40 |
7.23 |
9007.70 |
4.10 |
14.2 |
21.4 |
87.6 |
36.2 |
Ro Conc 1-3 |
|
14.20 |
9.20 |
6.92 |
7768.35 |
3.89 |
16.4 |
24.1 |
88.6 |
40.3 |
Ro Conc 1-4 |
|
16.10 |
9.10 |
6.67 |
6912.30 |
3.72 |
18.4 |
26.3 |
89.3 |
43.6 |
Rougher Tail |
|
83.90 |
7.74 |
3.58 |
159.00 |
0.92 |
81.6 |
73.7 |
10.7 |
56.4 |
2.2 Flotation Test #2
Metallurgical Balance
Product |
Weight |
Assays %, g/t |
% Distribution |
|
g |
% |
Co |
Ni |
Ag |
S |
Co |
Ni |
Ag |
S |
Ro Conc 1 |
125.6 |
6.3 |
9.20 |
5.59 |
18003.00 |
4.12 |
7.5 |
9.2 |
87.1 |
20.1 |
Ro Conc 2 |
79.6 |
4.0 |
8.96 |
5.75 |
1305.00 |
3.54 |
4.6 |
6.0 |
4.0 |
11.0 |
Ro Conc 3 |
39.2 |
2.0 |
7.88 |
4.85 |
739.00 |
2.72 |
2.0 |
2.5 |
1.1 |
4.1 |
Ro Conc 4 |
50.0 |
2.5 |
7.77 |
4.67 |
750.00 |
2.62 |
2.5 |
3.1 |
1.4 |
5.1 |
Rougher Tail |
1706.4 |
85.3 |
7.55 |
3.54 |
96.60 |
0.90 |
83.4 |
79.2 |
6.3 |
59.7 |
Head (calc) |
2000.8 |
100.0 |
7.72 |
3.81 |
1297.59 |
1.29 |
100.0 |
100.0 |
100.0 |
100.0 |
(direct) |
|
|
7.74 |
4.00 |
1296.00 |
1.15 |
|
|
|
|
Combined
Products |
Ro Conc 1 |
|
6.30 |
9.20 |
5.59 |
18003.00 |
4.12 |
7.5 |
9.2 |
87.1 |
20.1 |
Ro Conc 1-2 |
|
10.30 |
9.10 |
5.65 |
11525.30 |
3.89 |
12.1 |
15.2 |
91.1 |
31.1 |
Ro Conc 1-3 |
|
12.20 |
8.90 |
5.52 |
9795.18 |
3.71 |
14.1 |
17.7 |
92.2 |
35.2 |
Ro Conc 1-4 |
|
14.70 |
8.70 |
5.38 |
8257.90 |
3.52 |
16.6 |
20.8 |
93.7 |
40.3 |
Rougher Tail |
|
85.30 |
7.55 |
3.54 |
96.60 |
0.90 |
83.4 |
79.2 |
6.3 |
59.7 |
2.3 Flotation Followed by Gravity Separation
Metallurgical Balance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product |
Weight |
Assays %, g/t |
% Distribution |
|
g |
% |
Co |
Ni |
Ag |
S |
Co |
Ni |
Ag |
S |
Ro Conc 1-4 combined |
216.10 |
10.9 |
9.33 |
5.86 |
9784 |
4.63 |
12.3 |
15.4 |
93.0 |
34.5 |
Rougher Tail |
1771.8 |
89.1 |
8.12 |
3.93 |
89.7 |
1.07 |
87.7 |
84.6 |
7.0 |
65.5 |
Head (calc) |
1987.9 |
100.0 |
8.25 |
4.14 |
1144 |
1.46 |
100.0 |
100.0 |
100.0 |
100.0 |
(direct) |
|
|
7.74 |
4.00 |
1296 |
1.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product |
Weight |
Assays %, g/t |
% Distribution |
|
g |
% |
Co |
Ni |
Ag |
S |
Co |
Ni |
Ag |
S |
+150 μm Mozley Conc |
35.8 |
7.6 |
12.6 |
5.80 |
152 |
2.76 |
14.0 |
13.1 |
12.8 |
20.4 |
+150 μm Mozley Middl |
4.1 |
0.9 |
10.4 |
4.39 |
157 |
2.63 |
1.3 |
1.1 |
1.5 |
2.2 |
+150 μm Mozley Tailings |
58.5 |
12.5 |
1.07 |
0.50 |
182 |
0.55 |
1.9 |
1.9 |
25.0 |
6.6 |
-150/+53 μm Mozley Conc |
93.0 |
19.9 |
12.1 |
6.01 |
121 |
1.57 |
35.0 |
35.4 |
26.4 |
30.1 |
-150/+53 μm Mozley Middl |
9.0 |
1.9 |
11.3 |
5.52 |
137 |
1.83 |
3.2 |
3.1 |
2.9 |
3.4 |
-150/+53 μm Mozley Tailings |
63.3 |
13.5 |
1.03 |
0.87 |
39.9 |
0.24 |
2.0 |
3.5 |
5.9 |
3.1 |
-53 μm Mozley Conc |
35.6 |
7.6 |
12.5 |
6.09 |
76.0 |
1.15 |
13.8 |
13.7 |
6.3 |
8.5 |
-53 μm Mozley Middl |
15.4 |
3.3 |
12.5 |
5.90 |
82.9 |
1.38 |
6.0 |
5.8 |
3.0 |
4.4 |
-53 μm Mozley Tailings |
153.4 |
32.8 |
4.78 |
2.30 |
45.2 |
0.67 |
22.8 |
22.3 |
16.3 |
21.2 |
Head (calc) |
468.1 |
100.0 |
6.88 |
3.37 |
91.1 |
1.03 |
100.0 |
100.0 |
100.0 |
100.0 |
(direct) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Assays and
Distribution |
+150 μm Mozley Feed |
21.0 |
5.65 |
2.59 |
170 |
1.44 |
17.3 |
16.1 |
39.2 |
29.3 |
-150/+53 μm Mozley Feed |
35.3 |
7.82 |
4.02 |
90.8 |
1.07 |
40.1 |
42.0 |
35.2 |
36.7 |
-53 μm Mozley Feed |
43.7 |
6.71 |
3.23 |
53.4 |
0.81 |
42.6 |
41.8 |
25.6 |
34.1 |
Combined Mozley Conc |
35.1 |
12.3 |
5.98 |
118 |
1.74 |
62.8 |
62.3 |
45.5 |
59.0 |
Combined Mozley Conc + Midds |
41.2 |
12.2 |
5.92 |
117 |
1.73 |
73.3 |
72.3 |
52.9 |
69.0 |
Combined Mozley C&M&-53μm Tailings |
74.0 |
8.93 |
4.32 |
85.1 |
1.26 |
96.0 |
94.7 |
69.1 |
90.2 |
Recovery from
Flotation & Gravity Conc + Midds on Flot Tailings |
64.2 |
61.2 |
3.7 |
45.2 |
Except for the silver, where an average
concentrate grade of 8,418 g/t and 92% recovery was obtained, from
the very limited metallurgical tests done, it seems it may not be
possible to obtain reasonable concentrate grades along with decent
recoveries for the cobalt and the nickel by conventional milling
processes. Gold Bullion intends to utilize pressure leaching to
produce a cobalt-nickel metal hydroxide cake.
Gilbert Rousseau,
P. 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.