GOLD BULLION DEVELOPMENT MORE THAN DOUBLES LAND POSITION AT GRANADA PROJECT
Gold Bullion Development Corp. (GBB, TSX.V) (the “Company” or “Gold
Bullion”) is very pleased to announce it has signed an agreement to
earn a 100% interest in four properties comprising over 6,000 hectares
in close proximity to the LONG Bars Zone at its Granada Gold Property
in northwestern Quebec. This agreement gives Gold Bullion a dominant
land position that covers areas considered by the Company to encompass
many of the most prospective gold bearing geological structures in the
“With the results we’re seeing in our ongoing drilling, a bigger picture
is unfolding at
President and CEO. “We’re consistently finding extensions to
structures which is why we have taken this immediate and strategic
decision to more than double the size of our landholdings. There is
significant exploration upside in all directions surrounding the former
Granada Mine. Mineralization in the LONG Bars Zone is extending
further east but it’s also widening north to south. Recent prospecting
has also demonstrated new potential going west.”
Gold Bullion can earn a 100% interest from the “D2D3 Group” (the
“Vendor”) in the Granada Southwest Property, the Beauchastel Syenite
Property, the Kekeko South Property and the Adanac Extension Property
by making a cash payment of
fifth business day after TSX Venture Exchange acceptance of the
agreement, issuing an aggregate of 2.9 million common shares to the
Vendor over a two-year period, and incurring exploration expenditures
on the properties totaling at least
A 2% net smelter royalty is attached to each of the properties with Gold
Bullion holding the right to purchase 50% of the NSR at any time for
The Granada Southwest Property (33 claims, 724.2 hectares) is located
approximately two kilometres southwest of the past producing
Mine which forms part of Gold Bullion’s LONG Bars Zone Preliminary
Block Model area (excluding the LONG Bars Zone Eastern Extension)
outlined in the Company’s
sediment-hosted Southwest Property shares many common geological
features found elsewhere throughout the Granada Gold Property including
feldspar porphyry dykes and other intrusives.
The Beauchastel Syenite Property (15 claims, 861.8 hectares) is located
3.5 kilometres south of the Preliminary Block Model and is
characterized by a major deformation zone coincident with a series of
electromagnetic conductors. Numerous talc/chlorite alteration zones
are reported in a sedimentary sequence intruded by syenite/intrusive
rocks including porphyry units.
The Kekeko South Property (27 claims, 1,297.2 hectares) is several
kilometres west of the Preliminary Block Model. The property is
crosscut by major east-southeast trending interpreted regional
structures that have not been tested for their gold potential.
The Adanac Extension Property (65 claims plus 34 claims pending,
3,318.75 hectares) is several kilometres east of Gold Bullion’s
easternmost claims in the LONG Bars Zone. It hosts the Norzone gold
showing that exhibits similar characteristics to the nearby Adanac
deposit. A major deformation corridor passes through the Adanac and
Lake Pelletier gold deposits and crosscuts the Adanac Extension
Gold Bullion is aggressively exploring the 4,900 hectare Granada Gold
Property, located five kilometres south of
potential open-pit deposit along the prolific
numerous multi-million ounce deposits have been discovered and
developed. The four new properties give Gold Bullion an additional
6,200 hectares in the area for a total land package in excess of 11,000
An updated map showing Gold Bullion’s entire land package at the
section of the Company’s web site, www.GoldBullionDevelopmentCorp.com.
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 Gold Property near
Castle Silver Mine in
For more information on Gold Bullion Development Corp. (TSX-V: GBB, OTC
PK: GBBFF), visit our web site: http://www.GoldBullionDevelopmentCorp.com.
The scientific and technical information in this release was prepared
under the supervision of Mr.
and President who is a member of the Ontario Association of
Professional Engineers and a “qualified” person in accordance with
National Instrument 43-101.
“Frank J. Basa”
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.