Gold Bullion releases results from 43 backlogged Phase III Granada drill data including 1.76 g/t Au over 58.0 M

VANCOUVER, Sept. 18, 2012 /PRNewswire/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce results from the backlogged Phase III drill data at Granada. With over 80% of the expanded LONG Bars zone yet to be systematically explored, these ongoing, consistently strong drill results are suggestive of a potentially massive deposit similar to other existing world-class deposits in the region.

Results from the backlogged core continue to show intersections with grades indicative of low-grade, high-tonnage, open pit potential.

Granada is located on the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda bordering Osisko-controlled property on one side. The jurisdiction is widely acknowledged as world class with a rich history of mining, featuring numerous economic gold deposits and operating gold mines with Quebec consistently ranking in the top five best places to mine globally.

The April 2nd, 2012 summary NI-43-101 press release delineated 1.5 million ounces of gold over three categories and was the first resource milestone of 2012 as the Company continues to move forward in determining the total size of the Granada gold deposit.

The advanced infrastructure and advantageous Granada location will facilitate and assist Gold Bullion Development Corp. as the Company moves toward mine development and gold production.

Of the 43 holes reported here, 93% contained measurable gold with just 3 reporting back non-significant values. The entire table of results is included and follows these highlights:

  • GR-11-362 - 1.76 g/t Au over 58.0 metres from 143.0 metres to 201.0 metres including
    15.27 g/t Au over 6.0 metres from 143.0 metres to 149.0 metres
  • GR-11-335 - 0.71 g/t Au over 114.0 metres from 24.0 metres to 138.0 metres
  • GR-11-350 - 0.86 g/t Au over 97.5 metres from 16.5 metres to 114.0 metres
Drill Hole From To Length(m) Au (g/t)
GR-11-330 61.0 68.8 7.84 7.93
Including 61.0 64.0 3.04 19.23
GR-11-330 99.0 112.0 13.00 5.63
Including 99.0 102.0 3.00 22.35
Including 109.0 112.0 3.00 1.88
GR-11-331 71.1 82.5 11.42 0.50
GR-11-331 129.0 132.0 3.00 1.41
GR-11-332 NSV        
GR-11-333 NSV        
GR-11-335 24.0 138.0 114.00 0.71
Including 39.5 42.0 2.50 2.95
Including 99.4 103.0 3.60 5.01

Drill Hole From To Length(m) Au (g/t)
Including 131.0 138.0 7.00 5.73
GR-11-336 21.0 81.5 60.40 0.50
Including 77.0 81.5 4.50 3.50
GR-11-337 9.0 64.0 55.00 0.33
Including 59.5 64.0 4.50 2.30
GR-11-337 131.5 134.5 3.00 2.64
GR-11-338 6.0 56.0 50.00 0.47
Including 21.0 25.5 4.50 2.42
Including 43.5 48.0 4.50 1.18
GR-11-339 6.0 29.0 23.00 0.56
Including 23.5 26.5 3.00 3.20
GR-11-340 6.5 142.0 135.50 0.29
Including 6.5 14.0 7.50 0.53
Including 111.0 142.0 31.00 0.77
Including 124.0 128.5 4.50 2.12
GR-11-342 66.0 69.4 3.36 1.19
GR-11-343 222.0 225.0 3.00 1.68
GR-11-344 19.5 30.0 10.50 1.27
Including 22.5 27.0 4.50 2.64
GR-11 346 13.5 53.0 39.50 0.26
Including 50.5 53.0 2.50 1.98
GR-11-347 16.0 63.0 47.00 0.36
Including 50.0 63.0 13.00 0.82
Including 60.0 63.0 3.00 2.47
GR-11-348 41.0 52.5 11.50 0.39
GR-11-349 82.5 89.0 6.50 2.74
GR-11-350 16.5 114.0 97.50 0.86
GR-11-350 16.5 21.0 4.50 15.72
and 207.5 300.0 92.50 0.56
including 236.0 239.0 3.00 9.62
including 297.0 300.0 3.00 2.97
GR-11-351 161.0 173.0 12.00 0.43
GR-11-352 18.5 24.0 5.50 0.60
GR-11-352 100.5 103.5 3.00 5.04
GR-11-354 158.5 350.1 191.55 0.54
Including 171.0 176.0 5.00 6.08
Including 204.0 208.5 4.50 3.65
Including 244.3 247.6 3.30 1.86
Including 301.0 303.7 2.70 2.65
Including 318.5 321.5 3.00 3.87
Including 341.0 344.0 3.00 2.12
GR-11-357 110.0 125.5 15.50 0.74
including 119.3 122.5 3.20 2.44
GR-11-359 159.0 165.0 6.00 1.02
GR-11-360 93.0 96.0 3.00 2.88
GR-11-360 122.0 125.0 3.00 0.85
GR-11-361 82.5 153.5 71.00 0.55
including 84.0 102.5 18.50 0.93
including 82.5 87.0 4.50 2.74
including 99.5 102.5 3.00 1.29
including 150.5 153.5 3.00 5.29
GR-11-362 56.0 61.5 5.50 1.40

Drill Hole From To Length(m) Au (g/t)
GR-11-362 143.0 201.0 58.00 1.76
including 143.0 149.0 6.00 15.27
GR-11-363 23.5 82.5 59.00 0.43
GR-11-367 155.1 159.0 3.90 0.91
GR-11-370 139.0 163.5 24.50 0.57
GR-11-372 116.5 182.0 65.50 0.28
including 116.5 120.5 4.00 1.34
including 142.5 145.5 3.00 1.94
including 181.0 185.0 4.00 0.83
GR-11-375 10.5 120.3 109.80 0.32
including 117.0 120.3 3.30 7.22
GR-11-375 173.5 177.0 3.50 0.98
GR-11-376 275.0 395.0 12.00 0.39
GR-11-378 29.0 78.0 49.00 0.47
including 22.5 29.5 7.00 1.75
including 75.0 78.0 3.00 2.20
GR-11-380 8.0 58.0 50.00 0.63
including 10.0 13.5 3.50 6.95
including 54.5 58.0 3.50 1.11
GR-11-381 13.0 23.0 10.00 4.68
including 16.5 19.5 2.95 15.13
GR-11-382 NSV        
GR-11-383 25.5 33.0 7.50 0.67
GR-11-386 24.0 61.5 37.50 0.45
including 48.0 61.5 13.50 1.14
including 58.5 61.5 3.00 2.49
GR-11-387 22.5 32.5 10.00 0.31
GR-11-388 66.0 73.5 7.50 0.77
GR-11-391 39.0 174.0 135.00 0.26
including 39.0 48.5 9.50 0.99
including 104.0 107.0 3.00 1.48
including 171.0 174.0 3.00 2.28
GR-11-392 343.5 346.5 3.00 2.19
GR-11-393 164.5 465.5 301.00 0.31
including 164.5 167.5 3.00 2.52
including 273.5 278.0 4.50 2.10
including 296.0 299.5 3.50 2.05
including 318.0 321.8 3.80 2.81
including 427.5 433.0 5.50 3.62

 

Core lengths are close to true thickness and uncut. Intervals include internal waste.

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 encouraged by drill results that continue to demonstrate the presence of widespread, significant gold mineralization on the Granada property in support of a near-surface low-grade bulk mining scenario against a backdrop of rising precious metal prices and a long term gold bull.

The Company remains committed to releasing an updated NI-43-101 prior to the end of Q4, 2012 inclusive of these and additional drill results expected to become available in the interim.

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.



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