VANCOUVER,
July 9, 2012 /PRNewswire/ - Gold
Bullion Development Corp. (TSX-V: GBB) (OTCPINK: GBBFF) (the
"Company" or "Gold Bullion") is pleased to announce preliminary
drill results from holes and wedge holes located to the north of
the existing mineralized area of the Granada Gold Property. The
subject property is located along the prolific Cadillac trend in
North-western Quebec, 5 km south
of the city of Rouyn-Noranda.
Frank Basa, Gold
Bullion's CEO, is very encouraged by results that consistently
demonstrate the presence of widespread significant gold on the
Granada property. Hole DUP-12-02
intercepted 4.15 grams Au per tonne over a 3 metre core length at
615 metres and 4.58 grams per tonne Au over 3 metres at 995 metres
depth.
The drill plan initially called for three deep
holes with one wedge in each hole and commenced with hole
DUP-12-03. Due to excessive deviation, this hole was subsequently
abandoned at the 400-metre level. Hole DUP-12-03A, located
400 metres NNE (12 degrees North) of hole GR-11-390 was drilled
just 25 metres to the west of DUP-12-03 and down to a depth of
1,323 metres. Three wedge holes W1, W2 and W3 were put into
DUP-12-03A.
Hole DUP-12-02, located 830 metres NNE (24
degrees North) of hole GR-11-390, was drilled down to 1,593 metres
with one wedge hole added, W1.
Due to the success of DUP-12-03A, DUP-12-02 and
the associated wedges, (observation of visible gold and typical
alteration zones) and in conjunction with the observation of
visible gold in the western extension holes GR-11-375 and GR-11-363
in the backlog program, the drill was reassigned to the western
extension to further evaluate near surface mineralization and hole
DUP-12-01 drilling was temporarily put on hold.
The following table contains the highlights of
the preliminary results. These additional gold fire assay results
continue to demonstrate low grade, high tonnage, near surface
intersections while also confirming specific high-grade zones at
depth with thickness and grade suitable for underground mining.
| Gold Bullion Granada |
| Highlight of partial
results |
| Hole |
From (m) |
To (m) |
Length(m) |
Au g/t |
| DUP-12-02 |
607.50 |
610.50 |
3.00 |
4.15 |
| including |
607.50 |
609.00 |
1.50 |
8.23 |
| DUP-12-02 |
992.50 |
995.50 |
3.00 |
4.58 |
| including |
992.50 |
994.00 |
1.50 |
9.13 |
| DUP-12-03A |
660.00 |
662.50 |
2.50 |
1.38 |
| including |
661.00 |
662.50 |
1.50 |
3.21 |
| DUP-12-03A |
906.00 |
909.00 |
3.00 |
2.07 |
| including |
906.00 |
907.50 |
1.50 |
3.58 |
| DUP-12-03AW1 |
904.50 |
907.50 |
3.00 |
0.82 |
| including |
904.50 |
906.00 |
1.50 |
1.21 |
| DUP-12-03AW2 |
660.00 |
663.00 |
3.00 |
4.12 |
| including |
661.50 |
663.00 |
1.50 |
8.12 |
| DUP-12-03AW2 |
786.00 |
789.00 |
3.00 |
2.34 |
| including |
787.50 |
789.00 |
1.50 |
4.44 |
| DUP-12-03AW2 |
814.50 |
817.50 |
3.00 |
2.04 |
| including |
816.00 |
817.50 |
1.50 |
3.13 |
| DUP-12-03AW2 |
906.00 |
909.00 |
3.00 |
1.40 |
| including |
907.50 |
909.00 |
1.50 |
2.50 |
| |
|
|
|
|
| GR-11-358 |
4.50 |
15.00 |
10.50 |
0.53 |
| GR-11-358 |
149.00 |
339.65 |
190.65 |
0.39 |
| including |
149.00 |
170.00 |
21.00 |
1.19 |
| including |
149.00 |
150.50 |
1.50 |
6.38 |
| including |
165.50 |
167.00 |
1.50 |
3.86 |
| including |
237.00 |
246.00 |
9.00 |
0.86 |
| including |
271.50 |
279.00 |
7.50 |
2.61 |
| including |
328.00 |
339.65 |
11.65 |
0.80 |
Core length close to true thickness
Blanks and standards were inserted into the
sequence at the QA/QC Laboratory while the 50-gram fire assay
results were provided by Accurassay Laboratory prepared in Rouyn.
Fire assays were conducted at their facility in Ontario.
Frank Basa, Gold
Bullion's CEO, is pleased as results continue to demonstrate the
presence of widespread significant gold on the Granada property in support of the hypothesis
encompassing both a low grade near surface mine and a higher grade
underground mine.
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
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.