VANCOUVER, June 19, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV:
GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to
announce additional drill results from several holes located throughout
the mineralized area of the Granada Gold Property. The subject property
is located along the prolific Cadillac trend in northwestern Quebec, 5
km south of the city of Rouyn-Noranda.
Of the 17 holes, 14 reported significant gold mineralization with hole
GR-11-389 at 0.53 g/t Au over 95.0 metres from 72.0 metres to 167.0
metres confirming continuity of the mineralized package near surface
inclusive of three discrete higher-grade zones. Hole GR-11-389 was
drilled in the Southeast direction to confirm mineralization and assist
in the exact positioning of the NNE fault displacing the mineralized
blocks between sections.
These assay results are from the 2011 drill program and continue to
demonstrate low-grade, high tonnage, near surface intersections while
confirming specific high-grade zone at depth with thickness and grade
suitable for underground mining.
Highlights include GR-11-260 with 4.87 g/t Au over 3.89 metres at depth
while near surface hole GR-11-272 reported 0.39 g/t Au over 129.0
metres from 112.0 metres to 241.0 metres. Gold Bullion's CEO Frank Basa
is very encouraged by results that consistently demonstrate the
presence of widespread significant gold mineralization on the Granada
property. Further details on the mineralized holes inclusive of
substantive drill data are summarized in the table below.
|
Hole
|
From (m)
|
To (m)
|
Length(m)
|
Au g/t
|
| GR-11-260 | 382.50 | 386.39 | 3.89 | 4.87 |
| GR-11-272 | 112.00 | 241.00 | 129.00 | 0.39 |
| including |
112.00
|
135.00
|
23.00
|
0.89
|
| including |
112.00
|
115.00
|
3.00
|
4.64
|
| including |
171.00
|
178.50
|
7.50
|
0.56
|
| including |
199.50
|
241.00
|
41.50
|
0.53
|
| including |
204.00
|
223.50
|
19.50
|
0.81
|
| GR-11-274 | 58.00 | 63.50 | 5.50 | 0.54 |
| GR-11-276 | 133.50 | 166.50 | 33.00 | 0.40 |
| including |
133.50
|
139.50
|
6.00
|
1.43
|
| GR-11-298 | 171.50 | 253.50 | 82.00 | 0.59 |
| including |
205.50
|
223.50
|
18.00
|
1.03
|
| including |
241.50
|
253.50
|
12.00
|
1.67
|
| GR-11-298 | 336.00 | 339.50 | 3.50 | 4.01 |
| GR-11-304 | 177.00 | 217.50 | 40.50 | 0.45 |
| including |
177.00
|
181.50
|
4.50
|
0.73
|
| including |
213.00
|
217.50
|
4.50
|
2.97
|
| GR-11-355 | 23.50 | 31.47 | 7.97 | 0.82 |
| GR-11-355 | 90.10 | 123.50 | 33.40 | 0.56 |
| including |
114.00
|
122.00
|
8.00
|
1.75
|
| GR-11-356 | 6.00 | 51.00 | 45.00 | 0.31 |
| including |
6.00
|
15.50
|
9.50
|
0.54
|
| including |
34.60
|
51.00
|
16.40
|
0.40
|
| GR-11-356 | 102.00 | 111.20 | 9.20 | 0.59 |
| GR-11-365 | 54.50 | 73.00 | 18.50 | 0.63 |
| including |
54.50
|
66.00
|
11.50
|
0.91
|
| GR-11-365 | 140.00 | 154.00 | 14.00 | 0.54 |
| GR-11-366 | 45.00 | 58.50 | 13.50 | 0.34 |
| GR-11-366 | 144.50 | 223.50 | 79.00 | 0.58 |
| including |
155.50
|
180.00
|
24.50
|
0.81
|
| including |
168.00
|
180.00
|
12.00
|
1.28
|
| GR-11-366 | 193.00 | 213.00 | 20.00 | 0.95 |
| including |
202.00
|
213.00
|
11.00
|
1.34
|
| GR-11-371 | 53.00 | 60.00 | 7.00 | 0.39 |
| GR-11-373 | 272.50 | 320.60 | 48.10 | 0.47 |
| including |
272.50
|
278.00
|
5.50
|
1.71
|
| including |
314.00
|
319.20
|
5.20
|
1.70
|
| GR-11-374 | 192.00 | 216.00 | 24.00 | 1.14 |
| including |
199.50
|
205.15
|
5.65
|
4.08
|
| GR-11-389 | 72.00 | 167.00 | 95.00 | 0.53 |
| including |
120.00
|
148.00
|
28.00
|
1.21
|
| including |
136.00
|
148.00
|
12.00
|
2.38
|
| including |
142.00
|
148.00
|
6.00
|
4.39
|
Only three holes, GR-11-364, GR-11-251 and E-11-06 did not cut
significant mineralization as follows: GR-11-364 was northwest and too
short to intersect the zone while both GR-11-251 and E-11-06 were
intended to test the Eastern extension and may not have been suitably
located to cut the zones due to the NE shift of mineralized blocks
caused by the NNE Faults.
Additional assay results are pending and will be released as they become
available.
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.
Investor Relations Agreement Terminated
The Company also announces it has provided 30 days' notice to terminate,
effective July 15, 2012, the Investor Relations Agreement dated
September 10, 2009 wherein Progressive IR Consultants Corp. of
Vancouver, British Columbia, was engaged to provide investor relations
services to the Company.
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 their
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.
<p> </p> <p> Frank J. Basa, P.Eng., President and CEO at 1-514-397-4000 or<br/> Progressive Investor Relations (Canada) at (604) 689-2881 or via email: <a href="mailto:info@progressive-ir.com">info@progressive-ir.com</a> </p>