VANCOUVER,
July 13, 2011 /PRNewswire/ -
Frank Basa reports:
Gold Bullion Development Corp. (TSXV: GBB)
(OTCPINK: GBBFF) ("Gold Bullion") is pleased to announce additional
drill results from its Granada Property, located along the Cadillac
trend in Northwestern Quebec, 5 km
south of the city of Rouyn-Noranda. Gold Bullion has now
completed close to 35,000m of the planned 50,000m Phase 3 drill
campaign. The continually-expanding mineralized area remains open
in all directions and at depth. Highlights of the most
recent assay results include:
Hole GR-10-51 - 50.50 metres
grading 1.40 grams per tonne Au |
|
Including - 6.00 metres grading 3.69
grams per tonne Au |
|
Hole GR-10-119 - 104.50 metres
grading 0.71 grams per tonne Au |
|
Including - 9.50 metres grading 3.45
grams per tonne Au |
|
Hole GR-10-181 - 87.00 metres
grading 0.74 grams per tonne Au |
|
Including - 16.00 metres grading 1.93 grams per
tonne Au |
|
Hole GR-11-235 - 89.50 metres
grading 0.78 grams per tonne Au |
|
Including - 18.00 metres grading 3.43
grams per tonne Au |
|
Hole GR-11-237 - 114.00 metres
grading 0.40 grams per tonne Au |
|
Including - 1.40 metres grading 12.36 grams per tonne Au |
Mineralization in three of the above five holes
is within 5 metres from surface. Drilling at the Granada property continues with 2 drill rigs
on a 24 hours a day/7 days a week schedule, focussing on infill
drilling for a drill hole density to allow completion of a
preliminary resource calculation. The present mineralized zone now
covers an area of 1.2 kilometres along strike and is up to 0.5
kilometres wide.
The following table highlights significant
intervals in the most recent results received:
Hole Number |
Grade |
From |
To |
Interval
length |
GR-10-51 |
1.01 |
4.00 |
114.00 |
110.00 |
including |
3.69 |
23.00 |
29.00 |
6.00 |
and including |
1.40 |
51.00 |
101.50 |
50.50 |
including |
13.85 |
51.00 |
52.00 |
1.00 |
including |
14.90 |
72.00 |
73.50 |
1.50 |
|
|
|
|
|
GR-10-77 |
0.25 |
3.10 |
204.00 |
200.90 |
including |
1.18 |
28.35 |
45.00 |
16.65 |
and including |
1.01 |
44.00 |
61.85 |
17.85 |
including |
3.48 |
40.00 |
45.00 |
5.00 |
including |
15.55 |
44.00 |
45.00 |
1.00 |
and including |
6.42 |
175.00 |
176.00 |
1.00 |
|
|
|
|
|
GR-10-106 |
0.33 |
70.62 |
226.24 |
155.62 |
including |
0.54 |
70.62 |
109.62 |
39.00 |
including |
8.03 |
70.62 |
72.12 |
1.50 |
and including |
1.60 |
105.12 |
109.62 |
4.50 |
and including |
0.74 |
155.44 |
168.60 |
13.16 |
including |
1.25 |
161.44 |
166.30 |
4.86 |
and including |
0.60 |
199.58 |
218.74 |
19.16 |
including overlapping |
0.58 |
201.70 |
226.24 |
24.54 |
|
|
|
|
|
GR-10-115 |
0.42 |
3.10 |
333.00 |
329.90 |
including |
0.57 |
48.00 |
271.00 |
223.00 |
including |
0.83 |
48.00 |
191.00 |
143.00 |
including |
21.65 |
48.00 |
53.00 |
5.00 |
including |
53.82 |
48.00 |
50.00 |
2.00 |
|
|
|
|
|
GR-10-119 |
0.45 |
3.50 |
185.00 |
181.50 |
including |
0.71 |
69.00 |
173.50 |
104.50 |
including |
1.73 |
69.00 |
72.50 |
3.50 |
and including |
1.10 |
114.00 |
173.50 |
59.50 |
including |
0.54 |
114.00 |
148.00 |
34.00 |
including |
1.48 |
134.50 |
164.50 |
30.00 |
including |
2.14 |
134.50 |
136.83 |
2.33 |
and including |
3.45 |
161.50 |
171.00 |
9.50 |
including |
17.55 |
163.00 |
164.50 |
1.50 |
and including |
17.05 |
173.00 |
173.50 |
0.50 |
|
|
|
|
|
GR-10-143 |
0.30 |
7.50 |
189.00 |
181.50 |
including |
0.57 |
54.45 |
136.50 |
82.05 |
including |
1.03 |
54.45 |
85.50 |
31.05 |
and including |
0.79 |
67.61 |
78.00 |
10.39 |
and including |
1.33 |
79.50 |
86.42 |
6.92 |
and including |
1.94 |
94.50 |
97.50 |
3.00 |
and including |
0.77 |
129.00 |
136.50 |
7.50 |
|
|
|
|
|
GR-10-163 |
0.39 |
30.00 |
51.00 |
21.00 |
including |
7.21 |
33.50 |
34.00 |
0.50 |
|
|
|
|
|
GR-10-165 |
0.31 |
155.00 |
296.50 |
141.50 |
including |
1.20 |
155.00 |
175.50 |
20.50 |
including |
1.98 |
162.00 |
165.90 |
3.90 |
and including |
3.67 |
172.50 |
175.50 |
3.00 |
and including |
2.17 |
257.50 |
262.00 |
4.50 |
|
|
|
|
|
GR-10-171 |
0.26 |
216.00 |
276.50 |
60.50 |
including |
0.33 |
241.77 |
276.50 |
34.73 |
including |
3.30 |
241.77 |
242.31 |
0.54 |
and including |
4.87 |
275.40 |
276.50 |
1.10 |
|
|
|
|
|
GR-10-181 |
0.31 |
39.50 |
345.00 |
305.50 |
including |
1.07 |
106.00 |
108.00 |
2.00 |
and including |
1.61 |
124.45 |
126.50 |
2.05 |
and including |
0.74 |
219.00 |
306.00 |
87.00 |
including |
1.93 |
290.00 |
306.00 |
16.00 |
including |
0.67 |
219.00 |
250.00 |
31.00 |
including |
1.63 |
219.00 |
224.70 |
5.70 |
and including |
6.83 |
249.00 |
250.00 |
1.00 |
and including |
19.90 |
290.00 |
291.00 |
1.00 |
|
|
|
|
|
GR-10-184 |
0.30 |
1.50 |
204.00 |
202.50 |
including |
0.45 |
66.50 |
171.50 |
105.00 |
including |
1.60 |
66.50 |
80.55 |
14.05 |
including |
7.96 |
66.50 |
67.50 |
1.00 |
and including |
15.86 |
79.70 |
80.55 |
0.85 |
and including |
2.32 |
121.00 |
125.60 |
4.60 |
|
|
|
|
|
GR-10-185 |
0.34 |
19.00 |
167.70 |
148.70 |
including |
0.67 |
19.00 |
68.90 |
49.90 |
including |
25.76 |
19.00 |
20.00 |
1.00 |
and including |
5.61 |
117.50 |
119.00 |
1.50 |
|
|
|
|
|
GR-11-195 |
0.33 |
51.00 |
115.55 |
64.55 |
including |
1.05 |
50.00 |
63.00 |
13.00 |
|
|
|
|
|
GR-11-196 |
0.29 |
31.50 |
97.50 |
66.00 |
including |
0.39 |
53.87 |
97.50 |
43.63 |
|
|
|
|
|
GR-11-197 |
0.48 |
6.20 |
111.00 |
104.80 |
including |
0.94 |
52.50 |
84.00 |
31.50 |
including |
3.13 |
52.50 |
53.50 |
1.00 |
and including |
2.74 |
54.50 |
63.00 |
8.50 |
including |
11.15 |
54.50 |
56.00 |
1.50 |
|
|
|
|
|
GR-11-211 |
0.46 |
61.50 |
92.49 |
30.99 |
including |
0.75 |
57.00 |
73.50 |
16.50 |
including |
6.96 |
61.50 |
63.00 |
1.50 |
|
|
|
|
|
GR-11-219 |
0.28 |
105.00 |
222.00 |
117.00 |
including |
5.75 |
105.00 |
106.50 |
1.50 |
including |
0.88 |
210.50 |
224.00 |
13.50 |
|
|
|
|
|
GR-11-220 |
0.31 |
3.20 |
69.00 |
65.80 |
including |
0.52 |
12.00 |
48.00 |
36.00 |
including |
1.09 |
12.00 |
27.00 |
15.00 |
including |
3.83 |
19.00 |
20.00 |
1.00 |
and including |
8.37 |
24.00 |
24.50 |
0.50 |
|
|
|
|
|
GR-11-223 |
0.56 |
3.40 |
54.00 |
50.60 |
including |
1.07 |
3.40 |
28.50 |
25.10 |
including |
2.14 |
16.50 |
28.50 |
12.00 |
including |
4.15 |
16.50 |
22.50 |
6.00 |
|
|
|
|
|
GR-11-226 |
0.65 |
67.00 |
82.00 |
15.00 |
including |
0.85 |
67.00 |
77.00 |
10.00 |
|
|
|
|
|
GR-11-233 |
0.22 |
3.30 |
282.00 |
278.70 |
including |
15.10 |
18.00 |
19.50 |
1.50 |
including |
1.39 |
73.00 |
75.00 |
2.00 |
and including |
0.33 |
146.50 |
248.00 |
101.50 |
including |
1.65 |
146.50 |
153.00 |
6.50 |
and including |
0.56 |
219.50 |
248.00 |
28.50 |
including |
1.83 |
243.00 |
248.00 |
5.00 |
|
|
|
|
|
GR-11-235 |
0.50 |
2.20 |
150.00 |
147.80 |
including |
0.78 |
6.50 |
96.00 |
89.50 |
including |
3.43 |
13.00 |
31.00 |
18.00 |
including |
10.00 |
13.00 |
14.50 |
1.50 |
and including |
9.99 |
20.50 |
21.50 |
1.00 |
and including |
23.30 |
25.50 |
27.00 |
1.50 |
|
|
|
|
|
GR-11-237 |
0.32 |
20.20 |
237.00 |
216.80 |
including |
0.50 |
42.00 |
130.00 |
88.00 |
and |
0.40 |
123.00 |
237.00 |
114.00 |
including |
12.36 |
124.00 |
125.40 |
1.40 |
and including |
1.03 |
186.00 |
195.50 |
9.50 |
including |
6.34 |
190.00 |
191.00 |
1.00 |
and including |
0.58 |
225.00 |
237.00 |
12.00 |
The following 9 holes did not have significant
intervals and are therefore not included in the above table:
GR-10-76, GR-10-151, GR-11-212, GR-11-225, GR-11-227, GR-11-229,
GR-11-230, GR-11-236 and GR-11-240.
Widths reported in the preceding table are drill
widths; true widths are unknown at this time. Assays are uncut,
length-weighted average values. Lost core within mineralized
intersections were incorporated as blank intervals and assigned a
0.0 g/t grade in all length-weighted calculations. All the values
higher than 10 g/t Au are indicated in this table.
Gold Bullion's NQ drill program and drill core
sampling, including the quality assurance/quality control program,
are supervised by GENIVAR, Gold Bullion's geological consultant.
Core from the above holes was sent to ALS Chemex Labs in
Val d'Or, Quebec, and Accurassay
Laboratory in Timmins, Ontario,
for analysis. Gold was assayed by fire assay with additional pulp
and metallics analysis done on samples where visible gold was
identified. Analytical accuracy and precision are monitored by the
analysis of reagent blanks and reference materials at both labs.
Quality control is further assured by the insertion of blind
certified standard reference material and blanks into the sample
stream at regular intervals by Gold Bullion and GENIVAR personnel
in order to independently assess analytical accuracy.
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, and its
Castle Silver Mine in Gowganda,
Ontario.
For more information on Gold Bullion Development
Corp. (TSXV:GBB) (OTCPINK:GBBFF), visit our web site:
http://www.GoldBullionDevelopmentCorp.com.
The scientific and technical information in this
release was prepared under the supervision of Ms. Nicole Rioux, P. Geo., GENIVAR's senior
geologist and a member of the Ordre des géologues du Québec and a
"qualified" person in accordance with National Instrument
43-101.
"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.