Press release highlights:
- Winter trenching program identifies additional surface high
grade gold
- TR15-11, returned 6.05 g/t Au over 8 m including 14.98g/t Au
over 3 m
- 32.47 g/t Au over 1.0 metre, trench 15-11 sample 23
- Western most pit to be extended with additional mining
lease
- Potential mineralized strike length of 4.3 kilometres from the
western trench to the eastern trench
VANCOUVER, April 22, 2015 /CNW/ - Gold Bullion
Development Corp. (TSX.V: GBB) (OTCPINK: GBBFF) (the "Company" or
"Gold Bullion") is excited to report initial results from the most
recent trenching activities at Granada. So far in 2015, three
trenches have been completed in the area covering the smallest
proposed pit located furthest west with channel sampling from the
middle trench, TR15-11, returning 6.05 g/t Au over 8 m including
14.98 g/t Au over 3 m.
Since the beginning of the year, the Company has taken 103
samples, prepared, assayed and analyzed the material from two of
the three trenches. The trenching program was designed to validate
the existence and position of mineralized gold zones at surface
over the most western pit with the advanced goal of characterizing
and precisely locating the near surface high grades zones
previously identified in drill holes GR-12-412 and GR-12-413.
Digging parameters were established for the trenches located over
the future pit at approximately two metres deep, four metres wide
and eight metres in length.
Results were obtained by excavation followed by blowing
compressed air then channelling with a rock saw. Samples were
then taken at 1-metre intervals prior to completing a DGPS survey.
Based on the results, the Company will request a mining lease to
the west to include this western extension into existing mining
leases. Note: reported widths do not represent true widths as the
zone dips at approximately 50° to the north.
The mineralized section is in disseminated pyrite in a
sericite-silica alteration zone similar to that intersected in
drill holes GR12-412 and GR12-413, with near-surface mineralization
starting near surface at 4.5 metres in the latter hole.
Frank J. Basa, Gold Bullion
President and CEO, "Surface channel sampling grades confirming the
continuity of the near-surface drill-intersected mineralization
over a potential strike length of 3.5 kilometers from the western
to the eastern trenches is a very positive development within the
rolling start mining plan."
In September 2014, six trenches
were completed to the east of Pit 2A with highlights including
108.6 g/t Au on a 1-metre channel; see news release dated
November 18th, 2014. In
trench T14-6, located 36 m to the east of the Pit 2A limit, two
mineralized zones were also outlined by the channel sampling
indicating a strong possibility to extend the mineralized zone from
Pit 2A with additional surface work for confirmation.
Last years' trenching work outlined the mineralization zones cut
by the previous diamond drill holes which provided important
information for surface mining operations. Including the
recent 2015 trenching results, there are now several near surface
high-grade areas identified.
Additional 2015 trenching is planned over the (Aukeko)
exploration target area to the east and on strike east west with
the rolling start pit. The eastern trenching area is 3.5 km east of
the initial production pit. The winter 2015 trenching was
undertaken 800 metres to the west of the initial production
pit.
Click
http://goldbulliondevelopmentcorp.com/documents/english-picture-1.jpg
to view the trenching location map.
Four 200-metre trenches are planned in this area to further
investigate near surface gold mineralization based off high-grade
holes previously drilled in the area. Over 300 samples are to be
taken during trenching with the location of the four trenches to
include previous hole DDH E11-02 that returned 8.8 g/t Au over 1.33
metres and hole 80-05 that returned 8.5 g/t Au over 0.8 metres.
During the development of what is an environmentally sound mine
development plan, the Company sampled the 100,000 tonne historical
waste pile and in doing so discovered the rolling start mineralized
zone of 1.6 kilometres may have a base line grade of 0.9 g/t
gold. The Company has undertaken studies in the past with
Gekko of Australia utilizing input
grades of 0.5 g/t gold using conventional open pit drill and
blasting methods. Given the tonnage available at up to 1 g/t Au,
the Company will reassess the near-term direction over the next
quarter with respect to the most efficient manner to proceed with
development of Granada given the
current permitting status for the rolling start.
Quality Control
Gold Bullion Development Corp. adheres to a strict Quality
Assurance/Quality Control program for all work at Granada including the current program. Samples
reported herein were submitted with four mineralized gold standards
and one blank distributed through the 73 samples with all samples
pulverized using screen metallic methods. The samples were prepared
in Rouyn-Noranda then analysed at
Accurassay Laboratories in Thunderbay Ontario.
Cautionary Statement
Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. The potential quantity and grade
reported as Mineral Potential, is conceptual in nature, that there
has been insufficient exploration to define a mineral resource and
that it is uncertain if further exploration will result in the
target being delineated as a mineral resource.
Qualified Person
Claude Duplessis, P. Eng. of
GoldMinds Geoservices Inc., consultant for Gold Bullion, has
reviewed and approved the contents of this news release as a
Qualified Person independent of Gold Bullion within the meaning of
NI-43-101 regulations.
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 located on the prolific
Cadillac Trend near Rouyn-Noranda, Québec. Gold mining operations
will focus on high grade near surface material that will be trucked
to Iamgold's nearby processing facility. The project
economics remain robust with all in cash costs forecast at US
$797 prior to the drop in fuel
prices. The Company has been actively and systematically advancing
the Granada property since
acquiring the previously producing mine site in 2006. Near term
share price catalysts include commencing gold production, positive
cash flow to be used for operations and continued exploration and a
resource estimate update with the adding of 400 historical holes.
Additional information on the Company 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.