|
Gold
Bullion Development Corp. (CDNX:GBB.V) (Other OTC:GBBFF.PK) (the "Company" or "Gold
Bullion") has received assay results for 56 diamond drill
holes on its 100% owned Granada Gold Property near Rouyn-Noranda,
Quebec. This includes the remaining assay results from the Phase 2,
25,000-metre drill program as well as initial holes of the 50,000 metre Phase-3 program. To date, over 13,000 metres of the Phase 3 program have been drilled. The goal
of the current drill campaign is to test the continuity between the currently
outlined Preliminary Block Model area and the eastern section of the LONG
Bars Zone.
"We
have now drilled an area 1,200 metres long and from
250 to 500 metres wide at the Granada
property", commented Mr. Frank Basa, President and CEO of Gold Bullion
Development Corp. "We are very pleased with the results to date and
believe they will ultimately significantly expand the mineralized area in all
directions outside the Preliminary Block Model."
Summary
- Outside of the Preliminary
Block Model area, drilling has identified significant gold
mineralization, many with long intercepts, in new structures in the NE
Extension, SE Extension and Eastern Extension sectors.
-
- Consulting geologists at
GENIVAR believe they may have intersected the extension of Vein #5 in
the NE Waste Pile Sector
-
- Drills intersected high grade
gold intervals in the Trail sector which may be related to a series of
NNE trending fault zones. More work is required to validate this
relationship.
-
- In the Preliminary Block
Model area, Vein #2 has been extended along strike and down dip into the
Vein #2 sector and numerous smaller parallel mineralized structures were
identified to the north, in the hanging wall of the Vein.
-
- An aggressive drilling
campaign continues to target the NE Extension, SE Extension and NE Waste
Pile sectors.
-
- In March a drill will be
moved to the Eastern part of the property to test the promising Aukeko target.
-
For
increased clarity and ease of locating drill hole
stations, the names of sector areas are being used to help describe drill
hole locations with reference to the drill plan map which can be found on our
website at http://www.GoldBullionDevelopmentCorp.com.
Mineralization
at Granada is typically associated with finely disseminated pyrite and/or arsenopyrite. It is hosted within altered sericitized and silicified syenite
feldspar porphyry sills and quartz vein stockwork
and breccias as well as quartz-carbonate veinlets
in the sedimentary rocks. These structures strike in an East-West direction
and dip steeply to the north. Numerous parallel mineralized structures have
been identified throughout the property.
Newly
Delineated Structures
Gold
Bullion's geological consultants, GENIVAR, report that additional structures
have been intersected in the following sectors of the property; the NE
Extension, the SE Extension and the Eastern Extension. Some drill hole
highlights from these sectors include:
- Hole GR-10-113 in the NE
Extension zone intersected a vein grading 162.75 g/t gold over 1.09 metres (starting 232.5-metres down hole).
-
- In the SE Extension area,
holes GR-10-131 and 134 intersected what GENIVAR believes to be the same
new structure. Hole GR-10-134 intersected
9.3-metres averaging 1.09 g/t gold within a 57-metre interval averaging
0.56 g/t gold. Hole GR-10-131 intersected
5-metres averaging 2.14 g/t gold within a 129-metre interval averaging
0.15 g/t gold.
-
- In the Eastern Extension
zone, (where previously reported Hole GR-10-17 intersected 65.5 metres averaging 1.21 g/t gold), nine additional
holes intersected long intervals of mineralization interspersed with
narrow sections of higher grade. Hole GR-10-153
hit 135-metres averaging 0.62 g/t gold starting 3.9-metres
down-hole. This included a 1-metre interval averaging 54.97 g/t
starting 3.9-metres down-hole. Hole
GR-10-145 cut a 45.9-metre interval averaging 0.82 g/t gold starting
31.3-metres down-hole that included a 1.5-metre interval that averaged
12.3 g/t gold.
-
NE
Waste Pile Sector
In
the NE Waste Pile Zone, GENIVAR believes it may have intersected the
extension of Vein #5 in Holes GR-10-118 and GR-10-141. The Vein #5 outlined
in the Preliminary Block Model Zone and based on this drill data may continue
eastward. Hole GR-10-141 intersected 1.5-metres averaging 39.9 g/t gold,
starting 40-metres down hole. This occurred in a larger mineralized envelope
that averaged 0.52 g/t over 276 metres.
Trail
Sector (Sector
between Eastern Extension and Preliminary Block Model area)
A
series of holes were drilled to test NNE trending faults identified in the
Trail Sector. It is hypothesized that these faults may have acted
as conduits for mineralizing fluids. Hole GR-10-117 cut a number of
high grade intervals including:
- 2.4 metres
averaging 22.5 g/t gold starting 4.6 metres
down hole
-
- 1 metre
averaging 14.95 g/t gold starting 76.5 metres
down hole
-
- 1 metre
averaging 15.65 g/t gold starting 107.5 metres
down hole
-
- 18.5 metres
averaging 2.3 g/t gold starting 150.5 metres
down hole
-
These
intervals, together with lower grade sections averaged 0.74 g/t gold over 198
metres.
Vein
2 Sector
A
total of 16 new holes were drilled into the Vein #2 sector. Results have
extended the vein down dip between 100 and 200 metres.
In addition, numerous smaller parallel veins have been intersected in the
hanging wall of Vein #2. All of these veins appear to be related to an altered feldspar porphyry.
Significant
drill results include Hole GR-10-114 which intersected 177 metres averaging 0.51 g/t gold starting 3 metres down hole and Hole GR-10-54 which intersected 110 metres averaging 0.55 g/t gold starting 19 metres down hole.
Looking
Ahead
Currently
Gold Bullion has two drill rigs turning on the property as part of its Phase
3 drilling campaign. Five more holes will be collared in the NE Extension
sector. An additional three holes will target the NE Waste Pile area and
three holes will test the SE Extension sector (more if results warrant).
Later
in March, Gold Bullion intends to drill test the Aukeko
Shaft and the surrounding area. This target is situated on the eastern part
of the property about 2 km east of the LONG Bars Zone. Historical data
indicates that considerable visible gold was noted in the Aukeko
vein at the bottom of the Aukeko shaft.
Previous geological mapping detected numerous easterly striking syenite porphyry "dykes" and quartz veins
similar to what is seen at the LONG Bars zone.
The
Company plans to initiate a NI-43-101 resource estimate this summer once the
majority of the Phase 3 drill results are received.
Please
refer to the detailed drill map available on the Gold Bullion web site, www.GoldBullionDevelopmentCorp.com.
|
Hole Number
|
From
(metres)
|
To
(metres)
|
Interval
(metres)
|
Weighted
Grade
g/t Au
|
Sector Location
|
|
GR-10-59
|
3.50
|
195.00
|
191.50
|
0.300
|
East Vein
2
|
|
Included
|
24.00
|
81.00
|
57.00
|
0.409
|
|
|
Included
|
74.50
|
81.00
|
6.50
|
1.921
|
|
|
GR-10-61
|
3.60
|
93.00
|
89.40
|
0.221
|
East Vein
2
|
|
Included
|
38.74
|
62.00
|
23.26
|
0.666
|
|
|
GR-10-104
|
3.00
|
231.00
|
228.00
|
0.509
|
East of Waste
Pile
|
|
Included
|
20.00
|
21.00
|
1.00
|
45.800
|
|
|
Included
|
131.00
|
131.55
|
0.55
|
8.420
|
|
|
Included
|
209.50
|
210.50
|
1.00
|
8.620
|
|
|
GR-10-49
|
16.70
|
101.31
|
84.61
|
0.433
|
East of Waste Pile Vein 2
|
|
Included
|
97.05
|
99.31
|
2.26
|
7.128
|
|
|
GR-10-62
|
100.00
|
117.50
|
17.50
|
0.498
|
Eastern Extension
|
|
GR-10-84
|
6.40
|
168.00
|
161.60
|
0.301
|
Eastern Extension
|
|
Included
|
115.85
|
157.00
|
41.15
|
0.900
|
|
|
Included
|
117.00
|
118.00
|
1.00
|
18.900
|
|
|
GR-10-87
|
16.00
|
79.10
|
63.10
|
0.455
|
Eastern Extension
|
|
Included
|
18.00
|
18.75
|
0.75
|
23.485
|
|
|
Included
|
18.00
|
35.60
|
17.60
|
1.356
|
|
|
GR-10-93
|
3.90
|
275.00
|
271.10
|
0.093
|
Eastern Extension
|
|
GR-10-127
|
14.30
|
107.45
|
93.15
|
0.212
|
Eastern Extension
|
|
GR-10-129
|
33.50
|
85.30
|
51.80
|
0.181
|
Eastern Extension
|
|
Included
|
33.50
|
35.00
|
1.50
|
3.760
|
|
|
GR-10-131
|
6.00
|
135.00
|
129.00
|
0.152
|
SE Extension
|
|
Included
|
64.00
|
68.00
|
4.00
|
2.622
|
|
|
GR-10-139
|
3.30
|
237.00
|
233.70
|
0.216
|
Eastern Extension
|
|
Included
|
8.85
|
12.50
|
3.65
|
3.432
|
|
|
Included
|
102.34
|
106.14
|
3.80
|
1.488
|
|
|
GR-10-145
|
3.00
|
135.00
|
132.00
|
0.315
|
Eastern Extension
|
|
Included
|
31.35
|
77.21
|
45.86
|
0.816
|
|
|
Included
|
31.35
|
32.85
|
1.50
|
12.300
|
|
|
Included
|
68.25
|
69.71
|
1.46
|
7.570
|
|
|
Included
|
129.50
|
137.00
|
7.50
|
1.336
|
|
|
GR-10-153
|
3.90
|
139.00
|
135.10
|
0.624
|
Eastern Extension
|
|
Included
|
3.90
|
80.10
|
76.20
|
0.988
|
|
|
Included
|
3.90
|
4.90
|
1.00
|
54.977
|
|
|
GR-10-112
|
28.50
|
147.00
|
118.50
|
0.456
|
NE Waste
Pile
|
|
Included
|
28.50
|
34.55
|
6.05
|
1.537
|
|
|
Included
|
73.00
|
74.50
|
1.50
|
15.139
|
|
|
Included
|
146.20
|
147.00
|
0.80
|
9.400
|
|
|
AND
|
217.00
|
226.00
|
9.00
|
1.916
|
|
|
Included
|
218.80
|
220.00
|
1.20
|
9.010
|
|
|
GR-10-141
|
3.00
|
279.00
|
276.00
|
0.515
|
NE Waste
Pile
|
|
Included
|
40.00
|
41.50
|
1.50
|
39.900
|
|
|
Included
|
226.30
|
244.32
|
18.02
|
1.127
|
|
|
GR-10-142
|
88.5
|
173.5
|
85.0
|
0.439
|
NE Waste
Pile
|
|
AND
|
235.00
|
275.80
|
40.80
|
0.506
|
|
|
GR-10-118
|
109.25
|
274.50
|
165.25
|
0.410
|
NE Waste
Pile-trail sector
|
|
Included
|
168.75
|
170.45
|
1.70
|
2.203
|
|
|
Included
|
187.90
|
188.40
|
0.50
|
30.120
|
|
|
Included
|
246.30
|
246.80
|
0.50
|
16.820
|
|
|
GR-10-60
|
157.29
|
209.33
|
52.04
|
0.567
|
NE trail
sector
|
|
Included
|
197.33
|
201.83
|
4.50
|
3.865
|
|
|
GR-10-63
|
62.37
|
65.82
|
3.45
|
0.821
|
NE Extension
|
|
GR-10-73
|
34.60
|
218.50
|
183.90
|
0.283
|
NE Extension
|
|
Included
|
34.60
|
47.49
|
12.89
|
1.876
|
|
|
GR-10-110
|
28.00
|
90.60
|
62.60
|
0.308
|
NE Extension
|
|
Included
|
28.00
|
56.90
|
28.90
|
0.484
|
|
|
GR-10-113
|
22.97
|
252.92
|
229.95
|
0.926
|
NE Extension
|
|
Included
|
91.50
|
252.92
|
161.42
|
1.295
|
|
|
Included
|
212.87
|
252.92
|
40.05
|
4.927
|
|
|
Included
|
232.50
|
233.59
|
1.09
|
162.750
|
|
|
GR-10-134
|
6.00
|
171.00
|
165.00
|
0.325
|
SE Extension
|
|
Included
|
72.70
|
82.00
|
9.30
|
1.096
|
|
|
Included
|
72.70
|
129.60
|
56.90
|
0.557
|
|
|
GR-10-58
|
6.90
|
58.2
|
51.3
|
0.241
|
Trail Sector
|
|
GR-10-79
|
1.50
|
225.00
|
223.50
|
0.668
|
Trail Sector
|
|
Included
|
22.50
|
185.00
|
162.50
|
0.877
|
|
|
Included
|
22.50
|
30.50
|
8.00
|
2.367
|
|
|
Included
|
22.50
|
87.00
|
64.50
|
1.361
|
|
|
GR-10-81
|
58.85
|
208.59
|
149.74
|
0.367
|
Trail Sector
|
|
Included
|
81.29
|
90.00
|
8.71
|
2.299
|
|
|
Included
|
162.91
|
163.91
|
1.00
|
7.160
|
|
|
Included
|
188.45
|
189.57
|
1.12
|
4.800
|
|
|
Included
|
207.09
|
208.59
|
1.50
|
2.370
|
|
|
GR-10-82
|
3.40
|
240.00
|
236.60
|
0.139
|
Trail Sector
|
|
Included
|
122.55
|
195.67
|
73.12
|
0.248
|
|
|
GR-10-117
|
3.00
|
201.00
|
198.00
|
0.743
|
Trail Sector
|
|
Included
|
4.60
|
77.50
|
72.90
|
1.019
|
|
|
Included
|
4.60
|
7.00
|
2.40
|
22.485
|
|
|
Included
|
76.50
|
77.50
|
1.00
|
14.952
|
|
|
Included
|
107.50
|
108.50
|
1.00
|
15.650
|
|
|
Included
|
150.50
|
152.30
|
1.80
|
15.070
|
|
|
Included
|
77.00
|
185.50
|
108.50
|
0.784
|
|
|
Included
|
107.50
|
185.50
|
78.00
|
0.879
|
|
|
Included
|
107.50
|
169.00
|
61.50
|
1.057
|
|
|
GR-10-120
|
3.10
|
186.00
|
182.90
|
0.161
|
Trail Sector
|
|
Included
|
33.00
|
37.50
|
4.50
|
1.542
|
|
|
Included
|
175.00
|
181.00
|
6.00
|
0.622
|
|
|
GR-10-169
|
9.00
|
117.00
|
108.00
|
0.635
|
Vein 1
|
|
Included
|
51.00
|
115.50
|
64.50
|
1.032
|
|
|
Included
|
81.00
|
82.50
|
1.50
|
27.075
|
|
|
Included
|
97.50
|
103.50
|
6.00
|
2.343
|
|
|
GR-10-170
|
70.00
|
115.00
|
45.00
|
0.318
|
Vein 1
|
|
Included
|
70.00
|
70.50
|
0.50
|
9.450
|
|
|
AND
|
168.10
|
169.00
|
0.90
|
6.520
|
|
|
GR-10-172
|
90.00
|
116.30
|
26.30
|
0.826
|
Vein 1
|
|
Included
|
105.50
|
107.00
|
1.50
|
8.540
|
|
|
GR-10-175
|
24.10
|
100.00
|
75.90
|
0.335
|
Vein 1
|
|
Included
|
24.10
|
27.80
|
3.70
|
3.512
|
|
|
Included
|
99.50
|
100.00
|
0.50
|
8.320
|
|
|
GR-10-176
|
3.50
|
75.00
|
71.50
|
0.341
|
Vein 1
|
|
Included
|
41.50
|
43.00
|
1.50
|
7.140
|
|
|
GR-10-167
|
3.00
|
123.00
|
120.00
|
0.321
|
South Vein
1
|
|
Included
|
23.40
|
59.00
|
35.60
|
0.923
|
|
|
Included
|
58.00
|
59.00
|
1.00
|
19.900
|
|
|
GR-10-38
|
57.03
|
119.87
|
62.84
|
0.226
|
Vein 2
|
|
Included
|
112.50
|
119.87
|
7.37
|
0.958
|
|
|
GR-10-39
|
27.72
|
120.43
|
92.71
|
0.325
|
Vein 2
|
|
Included
|
29.22
|
36.72
|
7.50
|
0.898
|
|
|
Included
|
91.54
|
94.54
|
3.00
|
2.572
|
|
|
GR-10-40
|
120.73
|
129.73
|
9.00
|
0.620
|
Vein 2
|
|
Included
|
120.73
|
171.42
|
50.69
|
0.178
|
|
|
GR-10-43
|
22.63
|
138.50
|
115.87
|
0.350
|
Vein 2
|
|
Included
|
65.00
|
137.00
|
72.00
|
0.416
|
|
|
Included
|
129.50
|
137.00
|
7.50
|
1.336
|
|
|
GR-10-45
|
126.50
|
175.50
|
49.00
|
0.442
|
Vein 2
|
|
Included
|
126.50
|
145.50
|
19.00
|
0.652
|
|
|
GR-10-52
|
3.20
|
159.00
|
155.80
|
0.228
|
Vein 2
|
|
Included
|
3.20
|
53.00
|
49.80
|
0.326
|
|
|
GR-10-54
|
3.20
|
192.00
|
188.80
|
0.324
|
Vein 2
|
|
Included
|
19.07
|
130.00
|
110.93
|
0.517
|
|
|
Included
|
78.61
|
99.50
|
20.89
|
1.122
|
|
|
GR-10-67
|
1.50
|
123.00
|
121.50
|
0.286
|
Vein 2
|
|
Included
|
69.70
|
123.00
|
53.30
|
0.428
|
|
|
Included
|
102.00
|
123.00
|
21.00
|
0.853
|
|
|
GR-10-70
|
3.40
|
87.00
|
83.60
|
0.514
|
Vein 2
|
|
Included
|
39.40
|
71.00
|
31.60
|
1.202
|
|
|
Included
|
39.40
|
46.90
|
7.50
|
3.608
|
|
|
GR-10-95
|
3.10
|
105.00
|
101.90
|
0.515
|
Vein 2
|
|
Included
|
46.43
|
53.62
|
7.19
|
2.092
|
|
|
Included
|
89.62
|
95.62
|
6.00
|
4.946
|
|
|
GR-10-96
|
3.10
|
99.00
|
95.90
|
0.278
|
Vein 2
|
|
Included
|
67.75
|
87.20
|
19.45
|
0.706
|
|
|
Included
|
78.90
|
87.20
|
8.30
|
1.416
|
|
|
GR-10-99
|
3.50
|
87.00
|
83.50
|
0.979
|
Vein 2
|
|
Included
|
8.80
|
13.50
|
4.70
|
3.606
|
|
|
Included
|
53.20
|
61.50
|
8.30
|
1.389
|
|
|
GR-10-100
|
6.00
|
65.65
|
59.65
|
0.327
|
Vein 2
|
|
Included
|
6.00
|
7.50
|
1.50
|
4.610
|
|
|
GR-10-101
|
3.00
|
177.00
|
174.00
|
0.339
|
Vein 2
|
|
Included
|
24.10
|
27.10
|
3.00
|
4.580
|
|
|
Included
|
147.21
|
148.14
|
0.93
|
7.820
|
|
|
GR-10-114
|
3.00
|
180.00
|
177.00
|
0.512
|
Vein 2
|
|
Included
|
76.46
|
169.00
|
92.54
|
0.871
|
|
|
Included
|
168.00
|
169.00
|
1.00
|
54.900
|
|
|
GR-10-116
|
4.60
|
156.00
|
151.40
|
0.578
|
Vein 2
|
|
Included
|
52.35
|
60.00
|
7.65
|
1.057
|
|
|
Included
|
128.50
|
131.00
|
2.50
|
20.471
|
|
|
GR-10-126
|
2.00
|
90.00
|
88.00
|
0.676
|
Vein 2
|
|
Included
|
29.10
|
85.05
|
55.95
|
1.010
|
|
|
Included
|
29.10
|
30.50
|
1.40
|
22.667
|
|
|
GR-10-130
|
2.00
|
96.00
|
94.00
|
1.030
|
Vein 2
|
|
Included
|
44.30
|
45.20
|
0.90
|
50.703
|
|
|
Included
|
77.90
|
78.60
|
0.70
|
41.270
|
|
|
Included
|
5.00
|
78.60
|
73.60
|
1.289
|
|
|
Included
|
41.00
|
45.20
|
4.20
|
11.384
|
|
|
GR-10-132
|
1.90
|
90.00
|
88.10
|
0.282
|
Vein 2
|
|
Included
|
30.00
|
48.00
|
18.00
|
0.615
|
|
|
GR-10-133
|
3.50
|
81.00
|
77.50
|
0.723
|
Vein 2
|
|
Included
|
18.50
|
19.00
|
0.50
|
54.913
|
|
|
Included
|
56.50
|
60.00
|
3.50
|
4.409
|
|
Widths
reported in the preceding table are drill widths; true widths are unknown at
this time. Assays are uncut, length-weighted average values.
QA/QC
Gold
Bullion's NQ drill program and drill core sampling, including the quality
assurance/quality control program, are supervised by GENIVAR, Gold Bullion's
geological consultant. Core from the above holes was sent to ALS Chemex Labs in Val d'Or, Quebec,
and Laboratoire Expert in Rouyn-Noranda,
Quebec, for analysis. Gold
was assayed by fire assay with additional metallics
analysis done on samples where visible gold was
identified. Analytical accuracy and precision are monitored by the analysis
of reagent blanks and reference materials at both labs. Quality control is
further assured by the insertion of blind certified standard reference material
and blanks into the sample stream at regular intervals by Gold Bullion and
GENIVAR personnel in order to independently assess analytical accuracy.
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 Rouyn-Noranda, Quebec, and its high grade Castle Silver Mine
in Gowganda, Ontario.
For
more information on Gold Bullion Development Corp. (TSX-V: GBB, OTC PK:
GBBFF), visit our web site: http://www.GoldBullionDevelopmentCorp.com
Qualified
Person
The
scientific and technical information in this release was prepared under the
supervision of Ms. Nicole Rioux,
P. Geo., Genivar's senior geologist and a member of
the Ordre des géologues
du Québec and a "qualified" person in accordance with
National Instrument 43-101.
"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.
|