Gold Bullion Development Corp.

Published : December 22nd, 2012

Receives Positive PEA for Granada

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment



 
GOLD BULLION RECEIVES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR GRANADA, PROCEEDING TO PRELIMINARY FEASIBILITY STUDY

December 21, 2012 � Gold Bullion Development Corp. (TSX.V: GBB) (OTCPINK: GBBFF) (the �Company� or �Gold Bullion�) is pleased to announce the first economic estimates for its Granada gold property located on the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda. The proposed combination of an open pit and underground operation has the potential to move Gold Bullion into gold production at the approximate rate of 102,000 ounces of gold per year.

The Preliminary Economic Assessment (PEA) was prepared by SGS Canada Inc. -  SGS Geostat business unit.  The PEA is based on the measured, indicated and inferred gold resource estimation provided by SGS Geostat that was press released on November 15th 2012 in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects as defined by "NI 43-101" regulations. PEA highlights are summarized below:
Assumptions   

Assumptions

 

Gold Price (US$/oz) - 3 years trailing average

1,470

Canadian $ to US$ rate

1.0:1.0

 

 

Mineral Resources (recovered ounces)

 

Underground Resources (1)

                     387,000

Open pit Resources (2)

                     739,000

 

 

Mine Parameters

 

Mill feed coming from underground mine (tonnes per day)

                         1,000

Mill feed coming from open-pit mine (tonnes per day)

                         6,500

Combined mill feed (tonnes per day)

                         7,500

Mine plan tonnage (tonnes)

                26,400,000

Underground Mine plan mill feed grade (grams/tonne)

                           3.51

Open-pit Mine plan mill feed grade (grams/tonne)

                           1.07

Open-pit waste-to-ore ratio

                           5.91

Estimated gold recovery (%)

                         94..10

Total gold recovered (ounces)

                  1,126,000

Pre-production period (years)

                           2.00

Mine life (years)

                         11.00

Average annual gold production (ounces)

                     102,000

 

 

Costs

 

Pre-production capital ($)

              259,000,000

Average Underground cash cost per ounce (US$/oz)

                         1,205

Average Open-pit cash cost per ounce (US$/oz)

                            985

 

 

Financial Return

 

Payback from start of production (years)

                           6.80

Internal Rate of Return (before tax)

10.4%

Net present value, pre tax, 5.5% discount ($ disc.)

                74,300,000

 

 

(All dollar figures expressed in Canadian dollars, except where indicated)


 

Resource category

Tonnes

Grade (g/t)

U/G(1)

Measured

            18,000

               2.79

Indicated

       1,018,000

               3.74

Inferred

       2,635,000

               3.42

Open-pit(2)

Measured

     20,485,000

               1.05

Indicated

       2,178,000

               1.27

Inferred

          112,000

               0.78

 

Note: The above chart is presenting the resource as diluted material, mineral resources that are not mineral reserves and do not have demonstrated economic viability.

At the prevailing gold price on December 19th, 2012 of US$1,650 per ounce and a Canadian to U.S. dollar exchange rate of 1.00, Gold Bullion has determined that the pre-tax NPV increases to $217.8 million at a 5.50% discount rate while pre-tax IRR increases to 18.8% with payback time reduced to 4.8 years (using the same mine plan).

The study was prepared as a stand-alone project, relating solely to the mineral resources deposit at Granada, and accordingly does not take into account the previously outlined potential at depth disclosed on November 26th, 2012 since it is not mineral resources. Additional work is therefore required to convert the portion of potential into mineral resources.

The Scoping Study mentioned herein is a preliminary evaluation inclusive of inferred mineral resources that are too geologically speculative to infer economical considerations that would classify them into mineral reserves. It is therefore uncertain that this preliminary evaluation results in the expected outcome.

The complete technical report will be filed on the Company�s website (www.GoldBullionDevelopmentCorp.com) and on SEDAR (www.sedar.com) in the next 45 days.

�We are very pleased to release the Preliminary Economic Assessment study on the Granada gold deposit� stated Frank J.. Basa, P. Eng., President and Chief Executive Officer.  �Due to the dedication and diligence of Gold Bullion's technical team and consultants, we have been able to deliver this study within just four years of developing the property and are proud to see Gold Bullion progress as a potential emerging producer of gold in the near term, creating shareholder value through successful exploration and development while continuing to seek out other worthwhile opportunities for growth.�

The delivery of the Scoping (PEA) Study completes the first stage of Gold Bullion's Continuous Development Program at Granada, aimed at advancing the Granada Project to commercial production, by demonstrating an economic, environmental and social gain, while simultaneously mitigating the technical, financial, and environmental risks of the Project.

As mineral resources could be affected by permitting and social acceptance issues, Gold Bullion plans to hold meetings with various stakeholder groups prior to the completion of the Pre-Feasibility Study and will either be incorporating those views and recommendations into the study or retaining as recommendations to be addressed in the possible final Feasibility Study.

Claude Duplessis, Eng., Gaston Gagnon, Eng. and Jonathan Gagn�, Eng. are acting as the qualified persons (QP) for Gold Bullion Development Corp. in compliance with National Instrument 43-101 and have 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, Qu�bec.  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

For further information contact:

Frank J. Basa, P.Eng.,
President and CEO at
1-514-397-4000

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.






Disclaimer: MarketSmart Communications. was paid to distribute this bulletin. MarketSmart Communications may or may not own securities in this particular company. This is not a recommendation to buy or sell any securities. Although results are possible, they are not guaranteed. Please be aware that MarketSmart Communications Inc. is a news service and NOT an investment advisory service; it is advised that you consult with a licensed financial adviser before making any investment decisions. This publication does not provide an analysis of a company's financial position and the information herein should NOT be construed as an offer to buy or sell securities. The information herein is taken from sources thought to be accurate, but there is no guarantee. All due diligence should be done by the reader or their financial adviser. Investing in securities is speculative and carries risk. You are on this mailing list because you have signed up to receive information from a current or previous client/affiliate of MarketSmart Communications. Past performance of Companies mentioned does not guarantee future performance. This email complies with the US Federal CAN-SPAM Act of 2003


For more information about MarketSmart Communications click here 
MarketSmart Communications
744 West Hastings, Vancouver, British Columbia, V6C 1A5


.



newsletter tracking image
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Gold Bullion Development Corp.

EXPLORATION STAGE
CODE : GBB.V
ISIN : CA3805391065
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Gold Bullion Dev. is a gold exploration company based in Canada.

Gold Bullion Dev. holds various exploration projects in Canada.

Its main exploration properties are CASTLE SILVER MINE and GRANADA in Canada.

Gold Bullion Dev. is listed in Canada and in Germany. Its market capitalisation is CA$ 29.1 millions as of today (US$ 22.1 millions, € 20.8 millions).

Its stock quote reached its highest recent level on December 24, 2010 at CA$ 0.93, and its lowest recent point on October 09, 2015 at CA$ 0.02.

Gold Bullion Dev. has 387 890 016 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Gold Bullion Development Corp.
4/23/2008Announces Non-Brokered Private Placement
Project news of Gold Bullion Development Corp.
11/9/2012Drills 29.23 m of 15.61 g/t Gold at Grenada
11/8/2012(Granada)releases results from 54 backlogged Granada drill holes with...
9/18/2012(Granada)releases results from 43 backlogged Phase III Granada drill ...
3/1/2011(Castle Silver Mine)INITIATES DRILL PROGRAM ON CASTLE SILVER MINE, GOWGANDA
2/15/2011(Granada)CONTINUES TO EXPAND MINERALIZED ZONES AT GRANADA PROPERTY
2/6/2008(Granada) Recovers 1304.33 Troy Ounces of Fine Gold in Bulk Sampling ...
Corporate news of Gold Bullion Development Corp.
7/7/2016GOLD BULLION CLOSES $230,181 FLOW-THROUGH AND NON FLOW-THROU...
7/4/2016GOLD BULLION ACQUIRES INTEREST IN HIGH-GRADE GOLD TARGET NEX...
6/29/2016GOLD BULLION CLOSES $200,000 FLOW-THROUGH UNIT PRIVATE PLACE...
6/29/2016GOLD BULLION ANNOUNCES $200,000 FLOW-THROUGH PRIVATE PLACEME...
6/9/2016GOLD BULLION PROVIDES UPDATE ON GRANADA GOLD MINE
5/27/2016GOLD BULLION DEVELOPMENT GRANTED ENVIRONMENTAL CERTIFICATE O...
5/26/2016GOLD BULLION APPOINTS RONALD GOGUEN SR. TO THE BOARD OF DIRE...
5/17/2016GOLD BULLION CLOSES $804,000 FLOW-THROUGH UNIT PRIVATE PLACE...
5/3/2016GOLD BULLION ANNOUNCES RESULTS OF 2016 ANNUAL GENERAL MEETIN...
5/3/2016GOLD BULLION RETRACTS UPDATED MINERAL RESOURCES ESTIMATES OF...
4/19/2016GOLD BULLION APPOINTS CORPORATE SECRETARY
4/8/2016GOLD BULLION DECLARES DIVIDEND - CORRECTION FROM SOURCE
4/8/2016GOLD BULLION DECLARES DIVIDEND
4/4/2016GOLD BULLION OVERSUBSCRIBES AND CLOSES $830,000 PRIVATE PLAC...
4/4/2016GOLD BULLION ANNOUNCES $915,137 PRIVATE PLACEMENT
11/6/2015GOLD BULLION PROVIDES OPERATIONS AND FINANCE UPDATE
10/16/2015GOLD BULLION DEVELOPMENT ENTERS ASSIGNMENT AGREEMENT TO SELL...
9/15/2015GOLD BULLION ANNOUNCES CLOSING OF CASTLE SILVER MINES INC. A...
9/9/2015GOLD BULLION CLARIFIES SHAREHOLDER LOAN TERMS
8/24/2015GOLD BULLION ANNOUNCES FILING OF 43-101 TECHNICAL REPORT ON ...
8/10/2015GOLD BULLION EARNS NSR ON CASTLE SILVER MINES INC.
8/7/2015GOLD BULLION ENTERS INTO SHAREHOLDER LOAN AGREEMENTS
4/22/2015SURFACE GRADES OF 6.05 G/T AU OVER 8 METRES IN CHANNEL SAMPL...
4/13/2015GOLD BULLION ANNOUNCES SIGNING OF DEFINITIVE AGREEMENT WITH ...
4/10/2015GOLD BULLION RECEIVES WOOD CUTTING PERMIT FOR SITE CLEARING ...
4/10/2015(Granada)Receives Wood Cutting Permit for Site Clearing in Preparatio...
4/2/2015GOLD BULLION IDENTIFIES NEW GOLD-BEARING STRUCTURES AT CASTL...
3/31/2015GOLD BULLION ANNOUNCES RESULTS OF 2015 ANNUAL GENERAL MEETIN...
3/12/2015GOLD BULLION ENTERS INTO LOI WITH TAKARA RESOURCES INC. TO S...
3/11/2015(Castle Silver Mine)enters into LOI with Takara Resources Inc. to spin out Castl...
3/11/2015Gold Bullion enters into LOI with Takara Resources Inc. to s...
2/21/2015GOLD BULLION COMMENCES 2015 EXPLORATION AT GRANADA IN ADVANC...
1/30/2015GOLD BULLION SIGNS MOU ON GRANADA PROJECT WITH TIMISKAMING F...
1/16/2015WESTWOOD MILL PERMITTED TO PROCESS GRANADA ORE
12/24/2014GOLD BULLION CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
12/8/2014GOLD BULLION DISCOVERS NEW GOLD AND COPPER OCCURRENCE ON ITS...
11/25/2014GOLD BULLION ANNOUNCES RECEIPT OF AUTHORIZATION FOR LOCATING...
11/10/2014GOLD BULLION ANNOUNCES DIRECTOR RESIGNATION
10/22/2014GOLD BULLION PROGRESS UPDATE ON GRANADA GOLD PROPERTY PERMIT...
8/21/2014clarifies disclosure following BCSC review
8/21/2014Gold Bullion clarifies disclosure following BCSC review
8/13/2014Gold Bullion moving forward on the Granada Mine Rolling Star...
7/14/2014Gold Bullion announces signing of custom milling agreement w...
6/19/2014Gold Bullion Announces Filing of Pre-Feasibility Study (PFS)...
5/15/2013Provides Update
2/14/2013- Summary of metallurgical tests performed on hand cobbed sa...
1/5/2013(Granada)43-101 Report for its Granada Gold Project
10/18/2012Drill hole GR-12-400 extends near surface mineralized zone a...
9/12/2012Awards SGS Canada Inc. Mandate for Preliminary Feasibility S...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (GBB.V)FRANKFURT (B6D.F)
0.075+7.14%0.021+0.00%
TSX-V
CA$ 0.075
01/13 15:59 -
7.14%
Prev close Open
0.070 0.075
Low High
0.070 0.075
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.075 -6.25%
Volume 1 month var.
204,530 -6.25%
24hGold TrendPower© : 1
Produces
Develops
Explores for Gold - Silver
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 3/11/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.05+0.43%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.91-2.73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.06+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.67+0.88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.77-2.21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.37-0.22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.