VANCOUVER,
Sept. 18, 2012 /PRNewswire/ - 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.