Gold Bullion releases results from 43 backlogged Phase Iii Granada drill data including 1.76 g/t Au over 58.0 M
VANCOUVER, Sept. 18, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce results from the backlogged Phase III drill data at Granada. With over 80% of the expanded LONG Bars zone yet to be systematically explored, these ongoing, consistently strong drill results are suggestive of a potentially massive deposit similar to other existing world-class deposits in the region.
Results from the backlogged core continue to show intersections with grades indicative of low-grade, high-tonnage, open pit potential.
Granada is located on the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda bordering Osisko-controlled property on one side. The jurisdiction is widely acknowledged as world class with a rich history of mining, featuring numerous economic gold deposits and operating gold mines with Quebec consistently ranking in the top five best places to mine globally.
The April 2nd, 2012 summary NI-43-101 press release delineated 1.5 million ounces of gold over three categories and was the first resource milestone of 2012 as the Company continues to move forward in determining the total size of the Granada gold deposit.
The advanced infrastructure and advantageous Granada location will facilitate and assist Gold Bullion Development Corp. as the Company moves toward mine development and gold production.
Of the 43 holes reported here, 93% contained measurable gold with just 3 reporting back non-significant values. The entire table of results is included and follows these highlights:
- GR-11-362 - 1.76 g/t Au over 58.0 metres from 143.0 metres to 201.0 metres including
15.27 g/t Au over 6.0 metres from 143.0 metres to 149.0 metres
- GR-11-335 - 0.71 g/t Au over 114.0 metres from 24.0 metres to 138.0 metres
- GR-11-350 - 0.86 g/t Au over 97.5 metres from 16.5 metres to 114.0 metres
| Drill Hole | From | To | Length(m) | Au (g/t) |
| GR-11-330 | 61.0 | 68.8 | 7.84 | 7.93 |
| Including | 61.0 | 64.0 | 3.04 | 19.23 |
| GR-11-330 | 99.0 | 112.0 | 13.00 | 5.63 |
| Including | 99.0 | 102.0 | 3.00 | 22.35 |
| Including | 109.0 | 112.0 | 3.00 | 1.88 |
| GR-11-331 | 71.1 | 82.5 | 11.42 | 0.50 |
| GR-11-331 | 129.0 | 132.0 | 3.00 | 1.41 |
| GR-11-332 NSV | ||||
| GR-11-333 NSV | ||||
| GR-11-335 | 24.0 | 138.0 | 114.00 | 0.71 |
| Including | 39.5 | 42.0 | 2.50 | 2.95 |
| Including | 99.4 | 103.0 | 3.60 | 5.01 |
| Drill Hole | From | To | Length(m) | Au (g/t) |
| Including | 131.0 | 138.0 | 7.00 | 5.73 |
| GR-11-336 | 21.0 | 81.5 | 60.40 | 0.50 |
| Including | 77.0 | 81.5 | 4.50 | 3.50 |
| GR-11-337 | 9.0 | 64.0 | 55.00 | 0.33 |
| Including | 59.5 | 64.0 | 4.50 | 2.30 |
| GR-11-337 | 131.5 | 134.5 | 3.00 | 2.64 |
| GR-11-338 | 6.0 | 56.0 | 50.00 | 0.47 |
| Including | 21.0 | 25.5 | 4.50 | 2.42 |
| Including | 43.5 | 48.0 | 4.50 | 1.18 |
| GR-11-339 | 6.0 | 29.0 | 23.00 | 0.56 |
| Including | 23.5 | 26.5 | 3.00 | 3.20 |
| GR-11-340 | 6.5 | 142.0 | 135.50 | 0.29 |
| Including | 6.5 | 14.0 | 7.50 | 0.53 |
| Including | 111.0 | 142.0 | 31.00 | 0.77 |
| Including | 124.0 | 128.5 | 4.50 | 2.12 |
| GR-11-342 | 66.0 | 69.4 | 3.36 | 1.19 |
| GR-11-343 | 222.0 | 225.0 | 3.00 | 1.68 |
| GR-11-344 | 19.5 | 30.0 | 10.50 | 1.27 |
| Including | 22.5 | 27.0 | 4.50 | 2.64 |
| GR-11 346 | 13.5 | 53.0 | 39.50 | 0.26 |
| Including | 50.5 | 53.0 | 2.50 | 1.98 |
| GR-11-347 | 16.0 | 63.0 | 47.00 | 0.36 |
| Including | 50.0 | 63.0 | 13.00 | 0.82 |
| Including | 60.0 | 63.0 | 3.00 | 2.47 |
| GR-11-348 | 41.0 | 52.5 | 11.50 | 0.39 |
| GR-11-349 | 82.5 | 89.0 | 6.50 | 2.74 |
| GR-11-350 | 16.5 | 114.0 | 97.50 | 0.86 |
| GR-11-350 | 16.5 | 21.0 | 4.50 | 15.72 |
| and | 207.5 | 300.0 | 92.50 | 0.56 |
| including | 236.0 | 239.0 | 3.00 | 9.62 |
| including | 297.0 | 300.0 | 3.00 | 2.97 |
| GR-11-351 | 161.0 | 173.0 | 12.00 | 0.43 |
| GR-11-352 | 18.5 | 24.0 | 5.50 | 0.60 |
| GR-11-352 | 100.5 | 103.5 | 3.00 | 5.04 |
| GR-11-354 | 158.5 | 350.1 | 191.55 | 0.54 |
| Including | 171.0 | 176.0 | 5.00 | 6.08 |
| Including | 204.0 | 208.5 | 4.50 | 3.65 |
| Including | 244.3 | 247.6 | 3.30 | 1.86 |
| Including | 301.0 | 303.7 | 2.70 | 2.65 |
| Including | 318.5 | 321.5 | 3.00 | 3.87 |
| Including | 341.0 | 344.0 | 3.00 | 2.12 |
| GR-11-357 | 110.0 | 125.5 | 15.50 | 0.74 |
| including | 119.3 | 122.5 | 3.20 | 2.44 |
| GR-11-359 | 159.0 | 165.0 | 6.00 | 1.02 |
| GR-11-360 | 93.0 | 96.0 | 3.00 | 2.88 |
| GR-11-360 | 122.0 | 125.0 | 3.00 | 0.85 |
| GR-11-361 | 82.5 | 153.5 | 71.00 | 0.55 |
| including | 84.0 | 102.5 | 18.50 | 0.93 |
| including | 82.5 | 87.0 | 4.50 | 2.74 |
| including | 99.5 | 102.5 | 3.00 | 1.29 |
| including | 150.5 | 153.5 | 3.00 | 5.29 |
| GR-11-362 | 56.0 | 61.5 | 5.50 | 1.40 |
| Drill Hole | From | To | Length(m) | Au (g/t) |
| GR-11-362 | 143.0 | 201.0 | 58.00 | 1.76 |
| including | 143.0 | 149.0 | 6.00 | 15.27 |
| GR-11-363 | 23.5 | 82.5 | 59.00 | 0.43 |
| GR-11-367 | 155.1 | 159.0 | 3.90 | 0.91 |
| GR-11-370 | 139.0 | 163.5 | 24.50 | 0.57 |
| GR-11-372 | 116.5 | 182.0 | 65.50 | 0.28 |
| including | 116.5 | 120.5 | 4.00 | 1.34 |
| including | 142.5 | 145.5 | 3.00 | 1.94 |
| including | 181.0 | 185.0 | 4.00 | 0.83 |
| GR-11-375 | 10.5 | 120.3 | 109.80 | 0.32 |
| including | 117.0 | 120.3 | 3.30 | 7.22 |
| GR-11-375 | 173.5 | 177.0 | 3.50 | 0.98 |
| GR-11-376 | 275.0 | 395.0 | 12.00 | 0.39 |
| GR-11-378 | 29.0 | 78.0 | 49.00 | 0.47 |
| including | 22.5 | 29.5 | 7.00 | 1.75 |
| including | 75.0 | 78.0 | 3.00 | 2.20 |
| GR-11-380 | 8.0 | 58.0 | 50.00 | 0.63 |
| including | 10.0 | 13.5 | 3.50 | 6.95 |
| including | 54.5 | 58.0 | 3.50 | 1.11 |
| GR-11-381 | 13.0 | 23.0 | 10.00 | 4.68 |
| including | 16.5 | 19.5 | 2.95 | 15.13 |
| GR-11-382 NSV | ||||
| GR-11-383 | 25.5 | 33.0 | 7.50 | 0.67 |
| GR-11-386 | 24.0 | 61.5 | 37.50 | 0.45 |
| including | 48.0 | 61.5 | 13.50 | 1.14 |
| including | 58.5 | 61.5 | 3.00 | 2.49 |
| GR-11-387 | 22.5 | 32.5 | 10.00 | 0.31 |
| GR-11-388 | 66.0 | 73.5 | 7.50 | 0.77 |
| GR-11-391 | 39.0 | 174.0 | 135.00 | 0.26 |
| including | 39.0 | 48.5 | 9.50 | 0.99 |
| including | 104.0 | 107.0 | 3.00 | 1.48 |
| including | 171.0 | 174.0 | 3.00 | 2.28 |
| GR-11-392 | 343.5 | 346.5 | 3.00 | 2.19 |
| GR-11-393 | 164.5 | 465.5 | 301.00 | 0.31 |
| including | 164.5 | 167.5 | 3.00 | 2.52 |
| including | 273.5 | 278.0 | 4.50 | 2.10 |
| including | 296.0 | 299.5 | 3.50 | 2.05 |
| including | 318.0 | 321.8 | 3.80 | 2.81 |
| including | 427.5 | 433.0 | 5.50 | 3.62 |
Core lengths are close to true thickness and uncut. Intervals include internal waste.
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 encouraged by drill results that continue to demonstrate the presence of widespread, significant gold mineralization on the Granada property in support of a near-surface low-grade bulk mining scenario against a backdrop of rising precious metal prices and a long term gold bull.
The Company remains committed to releasing an updated NI-43-101 prior to the end of Q4, 2012 inclusive of these and additional drill results expected to become available in the interim.
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.
Frank J. Basa, P.Eng., President and CEO at 1-514-397-4000