Gold Bullion announces additional deep hole drill results with high grade gold (8.26 g/t Au over 1.50 metres) at depth
VANCOUVER, Aug. 30, 2012 /PRNewswire/ – Gold Bullion Development Corp. (TSXV:
GBB) (OTCPINK: GBBFF) (the “Company” or “Gold Bullion”) is pleased to
announce additional drill results as a follow up from the Preliminary
Deep Hole Preliminary Results released on July 9(th), 2012.
The expanded LONG Bars zone deposit on the Granada Gold Property
represents potentially one of the largest undeveloped gold deposits
along the Cadillac trend in north-western Quebec, located 5 km south of
the city of Rouyn-Noranda. The region is home to several significant
producing gold mines and world-class multi-million ounce deposits.
The jurisdiction has a long history and is renowned for its culture of
mining, numerous economic gold deposits and extensive infrastructure,
all of which is evidenced by Quebec consistently ranking in the top
five best places to mine globally.
The recent deep drill program to the north and shallow drill program to
the west was intended to enlarge the mineralization envelope of the
expanded LONG Bars zone. To date, two deep holes and four wedges have
been completed with assays. The drill program, which commenced in the
spring of 2012, was designed to step out from the known LONG Bars zone
resource to the north at depth and near surface to the west. Deep
drilling has expanded the mineralization by 650 metres to the north and
an additional 600 metres in depth where the mineralization envelope
remains wide open for expansion. Results from drilling to the west are
Highlights from the northern deep drilling including the wedges in deep
holes DUP-12-02 and DUP-12-03:
-- 8.18 grams per tonne gold across 1.5 metres from 1218.0 to 1219.5 meters down hole including 4.11 grams per tonne across 3.0 metres from 1218.0 to 1221.0 in hole Dup-12-03W2 -- a wedge hole drilled to provide a full cut of the mineralization envelope at depth
-- 8.26 grams per tonne gold across 1.5 metres from 784.5 to 787.0 metres down hole including 4.19 grams per tonne gold across 3.0 metres from 784.5 to 787.5 metres in hole Dup-12-02W1 -- a wedge hole drilled to provide a full cut of the mineralization envelope at depth
Down hole core length is close to true thickness and uncut.
These drill results continue to confirm specific high-grade zones at
depth with thickness and grade suitable for underground mining.
Additional drill results from the backlog of drilling done in 2011 and
the recent shallow drilling to the west will be released shortly.
These results will further expand the LONG Bars zone on strike with the
full implications thereof, in terms of the expansion of the gold
resource, to be released in an updated NI-43-101 expected by year-end
2012. There is a vast amount of ground yet to be systematically
explored to expand the LONG Bars zone, leaving considerable upside in
light of the drilling results that continue to return measurable gold
mineralization in over 90% of the drill holes.
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.
Accurassay Laboratory conducted the 50-gram fire assay results at their
facility in Ontario. Blanks and standards were inserted into the
sequence in addition to Laboratory QA/QC.
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, QuÃ©bec. Additional information on
the company’s Granada gold property is available by visiting their
website at www.GoldBullionDevelopmentCorp.com and on www.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.