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Gold Bullion releases results from 54 backlogged Granada drill holes with hole GR-11-310 returning 15.61 g/t Au over 29.23 metres including 443.78 g/t Au over 1.0 metre near surface
Published : November 08, 2012
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Gold Bullion releases results from 54 backlogged Granada drill holes with hole GR-11-310 returning 15.61 g/t Au over 29.23 metres including 443.78 g/t Au over 1.0 metre near surface

VANCOUVER, Nov. 8, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce the last set of results from the backlogged drill data at Gold Bullion's Granada Gold Property. All the backlogged holes have now been logged and sampled.

The inclusion of this drill data can only increase the quality of the resource classification and corresponding resource estimate size. This is the sixth press release announcing significant additional drill results since the first NI-43-101 was published last spring. The Company is confident that the ongoing release of significant drill results is a strong indication of an ever-increasing potential for a mineable resource.

Results from the backlogged core continue to show intersections with grades indicating a low-grade, high-tonnage, open pit operation with the potential also for a high-grade underground mining scenario.

The flagship Granada property is located on the prolific Cadillac trend in northwestern Quebec, just 5 km south of the city of Rouyn-Noranda with Osisko-controlled property bordering one side. With Quebec consistently ranking in the top five best places to mine globally, the jurisdiction is widely acknowledged as world class with a rich history of mining, featuring numerous economic gold deposits and operating gold mines. The advanced infrastructure around the Granada gold property will be utilized and is an advantage for the Company as plans unfold for mine development and gold production.

The in situ measured resource is 97,700 ounces (3.02 million tonnes grading 1.01 g/t), indicated resource is 543,400 ounces (17.04 million tonnes grading 0.99 g/t), inferred resource is 846,600 ounces gold (23.93 million tonnes grading 1.10 g/t Au) using a cut-off grade of 0.40g/t. The Company also plans continued systematic drilling of the Granada gold deposit with some 80% of the property yet to be explored.

The entire table of results is included and follows these highlights:

  • Hole GR-11-310:  15.61 g/t Au over 29.23 metres from 15.0 metres to 44.23 metres including 88.97 g/t Au over 5.0 metres from 21.0 metres to 26.0 metres and including 443.78 g/t Au over 1.0 metre from 22.0 metres to 23.0 metres

  • Hole GR-11-311:  2.49 g/t Au over 32.0 metres from 54.5metres to 86.5 metres including 9.44 g/t Au over 7.5 metres from 65.5 metres to 73.0 metres and including 0.74 g/t Au over 23.5 metres from 157.0 metres to 180.5 metres

  • Hole GR-11-377:  0.62 g/t Au over 88.5 metres from 261.0 metres to 349.5 metres including 4 distinct intervals:  1.79 g/t Au over 6.0 metres from 261.0 metres to 267.0 metres and 3.56 g/t Au over 6.5 metres from 325.0 metres to 331.5 metres and 1.05 g/t Au over 4.5 metres from 345.0 metres to 349.5 metres and 3.72 g/t Au over 3.5 metres from 427.5 metres to 431.0 metres.

  • Hole GR-11-384:  0.44 g/t Au over 42.0 metres from 309.0 metres to 351.0 metres and a deep interval of 18.25 g/t Au over 6.0 metres from 422.5 metres to 428.5 metres

Hole From (m) To (m) Length(m) Au g/t
GR-11-241 283.00 289.00 6.00 2.25
GR-11-242 93.50 207.20 113.70 0.50
including 100.50 109.00 8.50 2.21
including 176.90 181.00 4.10 4.04
GR-11-246 243.00 283.50 40.50 0.47
GR-11-251 NSI      
GR-11-253 127.50 139.50 12.00 1.60
GR-11-254 NSI      
GR-11-257 165.50 211.50 46.00 2.25
including 189.50 211.50 22.00 4.42
including 312.00 323.50 11.50 0.41
GR-11-261 23.50 31.75 8.25 0.52
GR-11-261 223.50 258.00 34.50 0.31
GR-11-262 NSI      
GR-11-263 NSI      
GR-11-264 347.00 353.00 6.00 3.31
GR-11-270 NSI      
GR-11-285 13.25 30.70 17.45 0.88
GR-11-288 NSI      
GR-11-299 18.50 97.00 78.50 0.54
including 25.00 35.00 10.00 1.34
including 80.00 97.00 17.00 1.14
including 89.00 97.00 8.00 1.95
GR-11-300 16.50 84.50 68.00 0.70
including 16.50 28.50 12.00 0.89
including 68.50 84.50 16.00 1.98
GR-11-301 51.00 55.50 4.50 1.18
GR-11-302 16.00 126.50 110.50 0.48
including 16.00 83.50 67.50 0.68
including 30.00 53.50 23.50 1.11
including 46.00 53.50 7.50 2.47
including 75.50 83.50 8.00 1.26
GR-11-303 9.50 137.00 127.50 0.66
including 9.50 43.00 33.50 1.77
including 68.50 98.00 29.50 0.57
including 87.00 98.00 11.00 0.83
GR-11-304A 229.50 345.00 115.50 0.34
including 229.50 240.00 10.50 0.60
including 290.00 300.00 10.00 1.30
including 316.50 326.00 9.50 0.64
GR-11-305 11.00 20.00 9.00 0.52
including 10.00 13.00 3.00 1.18
GR-11-305 70.50 82.00 11.50 0.58
GR-11-306 11.00 20.00 9.00 0.52
GR-11-306 70.50 82.00 11.50 0.58
including 76.50 82.00 5.50 0.60
GR-11-307 61.00 79.50 18.50 0.36
including 62.00 67.00 5.00 1.01
GR-11-308 29.00 90.00 61.00 0.34
including 29.00 33.50 4.50 3.11
GR-11-309 12.50 91.50 79.00 0.89
including 55.00 91.50 36.50 1.71
including 60.50 85.00 24.50 2.26
including 60.50 71.50 11.00 3.87
including 77.00 85.00 8.00 1.54
GR-11-309 154.50 165.00 10.50 0.82
GR-11-310 15.00 44.23 29.23 15.61
including 21.00 26.00 5.00 88.97
including 22.00 23.00 1.00 443.78
GR-11-311 54.50 86.50 32.00 2.49
including 65.50 73.00 7.50 9.44
GR-11-311 157.00 180.50 23.50 0.74
including 157.00 169.00 12.00 1.17
GR-11-312 27.58 38.50 10.92 0.70
Including 27.58 30.50 2.92 1.65
GR-11-312 84.00 87.00 3.00 1.50
GR-11-313 3.30 51.95 48.65 0.37
including 3.30 10.00 6.70 1.80
GR-11-313 106.00 117.50 11.50 0.45
GR-11-313 117.50 132.50 15.00 0.48
GR-11-314 3.30 78.00 74.70 0.41
including 61.00 78.00 17.00 1.10
including 61.00 65.50 4.50 2.12
and 25.50 29.50 4.00 0.74
GR-11-315 66.50 109.50 43.00 0.32
including 76.00 109.50 33.50 0.36
including 76.00 89.00 13.00 0.55
and 102.00 109.50 7.50 0.52
GR-11-316 105.50 150.00 44.50 0.37
including 105.50 122.00 16.50 0.68
including 113.00 122.00 9.00 1.01
GR-11-317 NSI      
GR-11-318 NSI      
GR-11-319 76.00 79.00 3.00 0.48
GR-11-320 12.00 84.00 72.00 0.46
including 32.00 44.50 12.50 1.84
GR-11-321 94.50 101.00 6.50 0.97
including 94.50 97.50 3.00 1.63
GR-11-322 24.50 33.00 8.50 0.46
GR-11-322 79.50 85.50 6.00 0.67
GR-11-323 NSI      
GR-11-324 25.00 40.00 15.00 0.66
including 34.50 39.00 4.50 1.74
GR-11-325 NSI      
GR-11-326 4.50 93.50 89.00 0.65
including 4.50 22.00 17.50 2.78
including 11.40 15.50 4.10 11.16
GR-11-324 95.85 99.00 3.15 0.70
GR-11-328 12.50 47.00 34.50 0.78
including 31.50 47.00 15.50 1.59
GR-11-328 71.50 118.5 47.00 0.44
including 114.50 118.5 4.00 3.20
GR-11-329 16.50 19.50 3.00 1.21
GR-11-329 45.90 48.00 2.10 1.08
GR-11-334 75.50 80.50 5.00 0.88
GR-11-334 105.50 121.50 16.00 0.50
GR-11-341 205.50 235.50 30.00 0.44
including 205.50 211.50 6.00 1.21
including 205.50 216.00 10.50 1.01
GR-11-345 91.50 140.00 48.50 0.50
including 91.50 96.00 4.50 2.77
GR-11-345 227.50 243.00 15.50 0.45
GR-11-345 333.50 336.50 3.00 4.45
GR-11-368 184.00 205.15 21.15 1.72
including 201.00 205.15 4.15 7.89
GR-11-369 156.00 211.00 55.00 0.41
including 156.00 179.00 23.00 0.72
including 157.00 167.00 10.00 1.19
GR-11-377 261.00 349.50 88.50 0.62
including 261.00 267.00 6.00 1.79
including 325.00 331.50 6.50 3.56
including 345.00 349.50 4.50 1.05
GR-11-377 427.50 431.00 3.50 3.72
GR-11-379 10.50 15.85 5.35 0.90
GR-11-384 422.50 428.50 6.00 18.25
GR-11-384 309.00 351.00 42.00 0.44
GR-11-385 64.50 73.50 9.00 0.81
GR-11-394 302.50 319.50 17.00 1.23
including 302.50 307.00 4.50 3.28
GR-11-394 516.00 519.00 3.00 2.58

Core lengths are close to true thickness and uncut. Gold Bullion samples and assays all drill holes in their entirety due to the nature of the mineralization and to ensure even the lower grade mineralization is evaluated.  In defining grade intervals, in some cases we have included up to 25 metre intervals of internal waste which are determined using the original assay data and the weighted grade cutoff of 0.25 g/t to 0.35 g/t depending on depth of intersection.

Of the 54 holes reported here, 81.5% contained measurable gold with just 10 reporting back non-significant values.

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 pleased about these infill drill results that concurrently increase the quality of the resource classification while supporting the exceptional potential of the property. The Company looks forward to releasing the updated NI-43-101 prior to year-end, 2012.

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.

For further information:

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

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Gold Bullion Development Corp.

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CODE : GBB.V
ISIN : CA3805391065
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12/22/2010APPOINTS NEW TRANSFER AGENT
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