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Gold Bullion announces additional positive drill data

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VANCOUVER, Dec. 7, 2011 /PRNewswire/ - Gold Bullion Development Corp. (TSXV: GBB, OTC PINK: GBBFF) ("Gold Bullion" or the "Company") is pleased to announce additional drill results from a number of holes throughout the mineralized area of the Granada Gold Property.  The subject property is located along the Cadillac trend in North-western Quebec, 5 km south of the city of Rouyn-Noranda. Nearly 80 kilometres, (78,414 metres) have been drilled since December 2009 and in the process, Gold Bullion has confirmed extensive mineralization on the Granada Property

To date, the mineralized area extends approximately 1500 metres east-west along strike and roughly 750 metres north-south.  The mineralized area does not include data from historical drilling. High grade gold intersections continues to be discovered as evidenced by 207.27g/t gold over 0.75m (by Screen Metallics) near the surface and 63.5g/t gold over 1.0 metre (by Screen Metallics).  Highlight of these subject holes follows:

  • 182.95 metres grading 1.11 g/t Au in hole GR-11-271 including
    0.75 metres grading 207.27 g/t Au at only 24.55 metres (22.1 metres vertical) depth and
    1.0 metre grading 13.71 g/t Au at 71.5 metres (64.3 metres vertical) depth
  • 247.5 metres grading 0.47 g/t Au in hole GR-11-199 including
    1.0 metre grading 63.5 g/t Au at 60.0 metres  (53.5 metres vertical) depth and
    16.25 metres grading 1.86 g/t Au at 129.75 metres (115.6 metres vertical) depth

Additional substantive drill data is included in a table format below.

HOLE FROM (m) TO (m) INTERVAL (m) GRADE (g/t Au)
GR-10-138 7.50 171.50 164.00 0.38
including 116.00 171.50 55.50 0.77
including 116.00 145.50 29.50 1.15
including 116.00 125.00 9.00 2.16
GR-10-144 79.50 95.00 15.50 0.63
and 155.00 275.00 120.00 0.33
including 235.50 275.00 39.50 0.74
including 261.95 263.00 1.05 19.86
GR-10-157 16.50 244.50 228.00 0.43
including 45.50 116.50 71.00 1.06
including 45.50 70.00 24.50 2.68
including 56.50 61.00 4.50 3.75
including 69.00 70.00 1.00 44.80
GR-10-183 124.50 148.00 23.50 0.51
and 189.50 211.00 21.50 0.53
including 197.85 211.00 13.15 0.71
and 229.50 238.50 9.00 0.61
and 272.50 296.50 24.00 0.46
GR-10-187 35.50 313.50 278.00 0.38
including 98.40 120.80 22.40 1.46
including 119.70 120.80 1.10 24.70
and 200.50 265.50 65.00 0.68
including 200.50 203.80 3.30 4.06
including 240.00 265.50 25.50 1.00
and 292.50 313.50 21.00 0.48
GR-11-199 1.50 249.00 247.50 0.47
including 60.00 146.00 86.00 1.20
including 60.00 61.00 1.00 63.50
and including 129.75 146.00 16.25 1.86
GR-11-259 47.00 77.00 30.00 0.42
including 47.00 50.00 3.00 1.38
GR-11-258 84.00 112.50 28.50 0.80
including 111.00 112.50 1.50 8.98
GR-11-266 29.00 145.50 116.50 0.31
including 29.00 52.00 23.00 0.74
including 38.50 47.50 9.00 1.45
and including 138.00 173.50 35.50 0.31
GR-11-268 111.50 177.50 66.00 0.47
including 140.00 159.50 19.50 0.69
and 175.00 191.10 16.10 0.45
GR-11-269 68.50 166.50 98.00 0.43
including 119.00 166.50 47.50 0.62
including 141.50 152.50 11.00 1.35
GR-11-271 24.55 207.50 182.95 1.11
including 24.55 25.30 0.75 207.27
and including 71.50 72.50 1.00 13.71
and including 142.00 207.50 65.50 0.39
including 206.00 207.50 1.50 10.49
and  206.00 258.00 52.00 0.79
GR-11-275 51.00 76.50 25.50 0.47
and 161.00 163.00 2.00 1.29
and 228.00 249.00 21.00 0.47
GR-11-280 31.00 76.95 45.95 0.33
including 37.50 53.00 15.50 0.55
GR-11-287 3.00 183.00 180.00 0.47
including 104.00 173.50 69.50 1.05
including 110.40 111.30 0.90 30.03
and including 122.50 173.50 51.00 0.79
including 122.50 123.00 0.50 38.75
including 172.60 173.50 0.90 15.79
GR-11-286 190.50 263.00 72.50 0.44
including 190.50 198.00 7.50 2.96
including 190.50 192.00 1.50 10.63
and overlapping 261.50 276.00 14.50 0.39
GR-11-293 18.50 140.50 122.00 0.37
including 18.50 25.50 7.00 1.25
and including 59.50 99.00 39.50 0.41
including 95.90 99.00 3.10 3.61
and including 125.50 140.50 15.00 0.97
GR-11-295 17.00 92.50 75.50 0.36
including 18.00 29.50 11.50 1.12
and including 78.50 92.50 14.00 0.72
GR-11-297 18.00 88.00 70.00 0.63
including 54.00 88.00 34.00 1.05
including 70.50 88.00 17.50 1.71
including 86.50 88.00 1.50 7.23

Just one of the 20 drill holes, Hole (GR-11-282), did not intersect significant mineralization and was therefore omitted from the above table.  The widths reported in the preceding table are drill widths.  "True" widths are unknown at this time. All assays are uncut, length-weighted average values.

Core analysis from the above holes was conducted by ALS Chemex Labs in Val d'Or, Quebec, and the Accurassay Laboratory in Timmins, Ontario. Gold was assayed by fire assay with additional metallics analysis done on samples where visible gold was identifiable. Quality control was further enhanced by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by logging personnel to ensure an independent assessment and 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 Property near Rouyn-Noranda, Québec, and its Castle Silver Mine in Gowganda, Ontario.

Additional information on the Company's Granada gold property is available by visiting their website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.

SGS independent Qualifying Person, Claude Duplessis, Ing. is responsible for the preparation of the resource estimate program within the meaning of National Instrument 43-101. Mr. Duplessis has verified and approved the data disclosed in this release including the sampling procedure, analytical and test data underlying the information.

About SGS

The SGS Group is the global leader and innovator in inspection, verification, testing and certification services. Founded in 1878, SGS is recognised as the global benchmark in quality and integrity. With more than 67'000 employees, SGS operates a network of over 1'250 offices and laboratories around the world.

"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.



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