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Gold Bullion Development Corp.
Summary
| Project: | Granada | |
|---|---|---|
| Deposit: | Granada | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/9/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 9-11-2016: Gold Bullion Development Corp. announces an Exploration/Drilling Update report for its Granada deposit at the Granada project. Drilling results incl. 15m @ 3.62g/t Au from 15m. November 9, 2016 – Gold Bullion Development Corp. (TSX‐V: GBB) (OTC | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Claude Duplessis (GoldMinds Geoservices Inc.) | |
| ABSTRACT: | November 9, 2016 – Gold Bullion Development Corp. (TSX‐V: GBB) (OTCPINK: GBBFF) (Frankfurt B6D) (the "Company" or "Gold Bullion") today announced preliminary drilling results from the 2,500‐metre exploration program initiated in September 2016 at the Granada Gold property. The Company now intends to proceed with an additional 8,000 metres (m) of drilling in the coming months in prospective areas on the property. Frank J. Basa, President and Chief Executive Officer, said: “We are very pleased with the preliminary results of this campaign. We intend to continue drilling as part of our program to increase the value of the Granada deposit for our shareholders. The potential 5.5 km strike length we have identified on the property still remains approximately 80% unexplored.” The drill results reported in this release are from three holes drilled in the area where the Company unexpectedly discovered a new, high‐grade mineralized zone at surface between two planned open pits. The discovery of this new zone was announced in the news release of September 28, 2016. The results support the extension at depth of the new high‐grade zone. This zone is expected to add to the area to be mined during the planned “Rolling Start” initial phase of mining as outlined in the 2014 Prefeasibility Study (PFS) (see below for technical report information). The gold in vein mineralization in the new zone is clearly associated with the feldspar porphyry. Coarse pyrite and arsenopyrite carrying gold within schistosity in the porphyry has been observed. | |
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