VANCOUVER,
June 19, 2012 /PRNewswire/ - Gold
Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the
"Company" or "Gold Bullion") is pleased to announce additional
drill results from several holes located throughout the mineralized
area of the Granada Gold Property. The subject property is located
along the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda.
Of the 17 holes, 14 reported significant gold
mineralization with hole GR-11-389 at 0.53 g/t Au over 95.0 metres
from 72.0 metres to 167.0 metres confirming continuity of the
mineralized package near surface inclusive of three discrete
higher-grade zones. Hole GR-11-389 was drilled in the Southeast
direction to confirm mineralization and assist in the exact
positioning of the NNE fault displacing the mineralized blocks
between sections.
These assay results are from the 2011 drill
program and continue to demonstrate low-grade, high tonnage, near
surface intersections while confirming specific high-grade zone at
depth with thickness and grade suitable for underground mining.
Highlights include GR-11-260 with 4.87 g/t Au
over 3.89 metres at depth while near surface hole GR-11-272
reported 0.39 g/t Au over 129.0 metres from 112.0 metres to 241.0
metres. Gold Bullion's CEO Frank
Basa is very encouraged by results that consistently
demonstrate the presence of widespread significant gold
mineralization on the Granada
property. Further details on the mineralized holes inclusive of
substantive drill data are summarized in the table below.
| Hole |
From (m) |
To (m) |
Length(m) |
Au g/t |
| GR-11-260 |
382.50 |
386.39 |
3.89 |
4.87 |
| GR-11-272 |
112.00 |
241.00 |
129.00 |
0.39 |
| including |
112.00 |
135.00 |
23.00 |
0.89 |
| including |
112.00 |
115.00 |
3.00 |
4.64 |
| including |
171.00 |
178.50 |
7.50 |
0.56 |
| including |
199.50 |
241.00 |
41.50 |
0.53 |
| including |
204.00 |
223.50 |
19.50 |
0.81 |
| GR-11-274 |
58.00 |
63.50 |
5.50 |
0.54 |
| GR-11-276 |
133.50 |
166.50 |
33.00 |
0.40 |
| including |
133.50 |
139.50 |
6.00 |
1.43 |
| GR-11-298 |
171.50 |
253.50 |
82.00 |
0.59 |
| including |
205.50 |
223.50 |
18.00 |
1.03 |
| including |
241.50 |
253.50 |
12.00 |
1.67 |
| GR-11-298 |
336.00 |
339.50 |
3.50 |
4.01 |
| GR-11-304 |
177.00 |
217.50 |
40.50 |
0.45 |
| including |
177.00 |
181.50 |
4.50 |
0.73 |
| including |
213.00 |
217.50 |
4.50 |
2.97 |
| GR-11-355 |
23.50 |
31.47 |
7.97 |
0.82 |
| GR-11-355 |
90.10 |
123.50 |
33.40 |
0.56 |
| including |
114.00 |
122.00 |
8.00 |
1.75 |
| GR-11-356 |
6.00 |
51.00 |
45.00 |
0.31 |
| including |
6.00 |
15.50 |
9.50 |
0.54 |
| including |
34.60 |
51.00 |
16.40 |
0.40 |
| GR-11-356 |
102.00 |
111.20 |
9.20 |
0.59 |
| GR-11-365 |
54.50 |
73.00 |
18.50 |
0.63 |
| including |
54.50 |
66.00 |
11.50 |
0.91 |
| GR-11-365 |
140.00 |
154.00 |
14.00 |
0.54 |
| GR-11-366 |
45.00 |
58.50 |
13.50 |
0.34 |
| GR-11-366 |
144.50 |
223.50 |
79.00 |
0.58 |
| including |
155.50 |
180.00 |
24.50 |
0.81 |
| including |
168.00 |
180.00 |
12.00 |
1.28 |
| GR-11-366 |
193.00 |
213.00 |
20.00 |
0.95 |
| including |
202.00 |
213.00 |
11.00 |
1.34 |
| GR-11-371 |
53.00 |
60.00 |
7.00 |
0.39 |
| GR-11-373 |
272.50 |
320.60 |
48.10 |
0.47 |
| including |
272.50 |
278.00 |
5.50 |
1.71 |
| including |
314.00 |
319.20 |
5.20 |
1.70 |
| GR-11-374 |
192.00 |
216.00 |
24.00 |
1.14 |
| including |
199.50 |
205.15 |
5.65 |
4.08 |
| GR-11-389 |
72.00 |
167.00 |
95.00 |
0.53 |
| including |
120.00 |
148.00 |
28.00 |
1.21 |
| including |
136.00 |
148.00 |
12.00 |
2.38 |
| including |
142.00 |
148.00 |
6.00 |
4.39 |
Only three holes, GR-11-364, GR-11-251 and
E-11-06 did not cut significant mineralization as follows:
GR-11-364 was northwest and too short to intersect the zone while
both GR-11-251 and E-11-06 were intended to test the Eastern
extension and may not have been suitably located to cut the zones
due to the NE shift of mineralized blocks caused by the NNE
Faults.
Additional assay results are pending and will be
released as they become available.
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.
Investor Relations Agreement
Terminated
The Company also announces it has provided 30
days' notice to terminate, effective July
15, 2012, the Investor Relations Agreement dated
September 10, 2009 wherein
Progressive IR Consultants Corp. of Vancouver, British Columbia, was engaged to
provide investor relations services to the Company.
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
their 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.