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I have a fairly small holding (now!). I still believe in the story so am looking at averaging down - the question is when?! We still have a few months I would have thought before the NI 43-101 and that's what it will take to put a floor under the share price imo.

 

Goldfinger - have you heard about the gold bullion purchase plan that GBB have? I think you need a minimum of 50,000 shares, which is about £5,000. It seems a great idea to me although the company have not gone in to details yet

I think Frizzers knows something about it. I haven't read about it. Also, if at all (still indecisive), I'll possibly only put very little money into it.

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Gold Bullion drills 182.95 m at 1.11 g/t Au in Quebec

 

 

2011-12-07 09:11 ET - News Release

 

 

Mr. Frank Basa reports

 

GOLD BULLION ANNOUNCES ADDITIONAL POSITIVE DRILL DATA

 

Gold Bullion Development Corp. has released 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 northwestern Quebec, five kilometres 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 1,500 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 207.27 g/t gold over 0.75 metre (by Screen Metallics) near the surface and 63.5 g/t gold over 1.0 metre (by Screen Metallics). Highlights of these subject holes follows:

 

182.95 metres grading 1.11 g/t Au in hole GR-11-271;

0.75 metre grading 207.27 g/t Au at only 24.55 metres (22.1 metres vertical) depth;

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;

1.0 metre grading 63.5 g/t Au at 60.0 metres (53.5 metres vertical) depth;

16.25 metres grading 1.86 g/t Au at 129.75 metres (115.6 metres vertical) depth.

 

Hole From To Interval Grade

(m) (m) (m) (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

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

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

including 71.50 72.50 1.00 13.71

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

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

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

including 59.50 99.00 39.50 0.41

including 95.90 99.00 3.10 3.61

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

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, Que., and the Accurassay Laboratory in Timmins, Ont. 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.

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 recognized 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.

 

Looks like a good set of results and traded over 1.7M shares but only gained half a cent or 3.1%.

I can only think that the strength was used to book a large tax loss - roll on the 23rd of Dec when Canadian tax loss season is over.

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Looks like a good set of results and traded over 1.7M shares but only gained half a cent or 3.1%.

I can only think that the strength was used to book a large tax loss - roll on the 23rd of Dec when Canadian tax loss season is over.

I have been watching all these weeks. I think the bottom could be in, but I haven't bought yet.

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Any views on the NI 43-101 out today?

 

Jimbo

 

I'm not sure what to think. The overall figure came in at less than my expectation but only shows gold above 0.8g/t. This gave a larger figure than I was expecting for the higher grade, so positives and negatives.

 

From what I can see most of the gold at Granada is below 0.8g/t so when the average grade and cutoff is lowered it might not be far off the mark.

 

All the same I can't help but feel a little bemused and as for this deposit being another Malartic or Hammond Reef - I don't see it.

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Jimbo

 

I'm not sure what to think. The overall figure came in at less than my expectation but only shows gold above 0.8g/t. This gave a larger figure than I was expecting for the higher grade, so positives and negatives.

 

From what I can see most of the gold at Granada is below 0.8g/t so when the average grade and cutoff is lowered it might not be far off the mark.

 

All the same I can't help but feel a little bemused and as for this deposit being another Malartic or Hammond Reef - I don't see it.

 

 

Thanks Oddball. I think the figure was slightly lower than some expectations but the cut off grade was higher as you say. There are still more holes to be included in the next resource upgrade, which should be in a few months. It's still early days but it looks like GBB should have a mine although perhaps not the huge deposit we were hoping for. Market cap is around $30m so based on current resource surely we should be double this, given the jurisdiction

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Thanks Oddball. I think the figure was slightly lower than some expectations but the cut off grade was higher as you say. There are still more holes to be included in the next resource upgrade, which should be in a few months. It's still early days but it looks like GBB should have a mine although perhaps not the huge deposit we were hoping for. Market cap is around $30m so based on current resource surely we should be double this, given the jurisdiction

 

After a couple of days to mull this over and a lot of tapping away on my calculator I feel a lot more optimistic. If GBB can show more than 3Moz on the second RE with the lower average grade and cut-off then it looks to be a very profitable mining operation with a 440Kt/day plant in place. All we need then is for the Junior golds to turn the corner - and goodness knows its overdue!

 

Dominic - If you are about - Are there any plans to do an update with Frank Basa?

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Once 35c broke it was obvious we were going back to low 20s. Now what's he got to stop the stock going back to 10?

 

Bang on! See the legal proceeding have started against Genivar, which now means an either way gamble.

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Bang on! See the legal proceeding have started against Genivar, which now means an either way gamble.

 

Is anyone still in GBB? Obviously market sentiment is dire but any thoughts? The second NI 43-101 should be due in a few months. I wonder how many oz's GBB would need to prove up to be on taken out....I was thinking 3m +

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Is anyone still in GBB? Obviously market sentiment is dire but any thoughts? The second NI 43-101 should be due in a few months. I wonder how many oz's GBB would need to prove up to be on taken out....I was thinking 3m +

 

Been out a long time. Pondering placing a bet or shall I keep my money for Goodwood :lol:

 

Gut feel it could still go lower, but might have a flutter at some point.

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Is anyone still in GBB? Obviously market sentiment is dire but any thoughts? The second NI 43-101 should be due in a few months. I wonder how many oz's GBB would need to prove up to be on taken out....I was thinking 3m +

 

 

Jimbo - Yeah I'm still in here and wish I wasn't.

 

I suppose the only consolation here is that the recent downtrend is on low low volume and is in keeping with the majority of the junior golds. Question is, can they survive.

Well according to the company they have enough funds for completion of the PEA and second 43-101, and I guess they are hoping for some improvement in market conditions before these are released.

 

The best/news funding option at the moment to me would be for them to go into production ie start trucking ore off-site for processing at a third party mill. Roger Thomas tells me that this is their plan but are awaiting winter and spare capacity at a local mill to become available. I don't know, I'll believe it when I see it.

Still, they do already have 1.5Moz already 43-101'd with a good possibility of a lot more. The target being a least 3Moz. As far as I understand, its at this point that due to the economies of size the low grade ore <0.4g/t becomes viable. As you will know, the bulk of GBBs drill results where long low grade intercepts.

 

So you never know, one day this might amount to a bit more than an interesting way to lose money.

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Jimbo - Yeah I'm still in here and wish I wasn't.

 

Yea, I wish I had waited before buying as well. I am still in but I never had much.

 

Roger Thomas tells me that this is their plan but are awaiting winter and spare capacity at a local mill to become available.

 

There is some additional information about that possibility here: Rolling Start at Granada Mine?.

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Up 65% in a week.

 

http://www.equities....88&cat=material

 

 

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

 

 

I think it was the NR regarding SGSs assessment of the economics of near term production that stirred interest again.

 

Gold Bullion Awards SGS Canada Inc. Mandate for Preliminary Feasibility Study for a Mine Start-up Using Custom Milling Outside Granada

Gold Bullion Development Corp. GBB

9/12/2012 10:25:00 AM

 

Gold Bullion Awards SGS Canada Inc. Mandate for Preliminary Feasibility Study for a Mine Start-up Using Custom Milling Outside Granada

 

 

VANCOUVER, Sept. 12, 2012 /PRNewswire/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce it has awarded a contract of professional services to SGS Canada Inc., Geostat Mineral's service group under direction of Claude Duplessis, P. Eng. and qualified person, for the completion of a preliminary feasibility study by the end of 2012 in order to fast track the development of the Granada Property. The Company has requested the preparation of a short term scenario for custom milling while it continues to develop the long term plan with an on-site mill.

As of today, backlog is now completed and the remaining core and new core drilled have been split and sent to Accurassay Laboratories for gold fire assay.

The latest available assay results are being compiled and interpreted and will be provided and publicly disclosed in the coming weeks.

Frank Basa, Gold Bullion's CEO, is very pleased to move forward toward production of gold from the Granada property.

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 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.

SOURCE Gold Bullion Development Corp.
rt.gif?NewsItemId=TO787&Transmission_Id=201209121025PR_NEWS_USPR_____TO787&DateId=20120912

 

 

PR Newswire

September 12, 2012 - 10:25 AM EDT

 

And of course the upturn in the juniors - at last!

 

Still early days but this is the best action here for 18 months.

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GBB has been moving up nicely :: GBB-chart

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I added some retrace lines which come in at 19, 26, 32, 37 and 56. I think I bought at about 22 so a while to go for me yet but it is nice to see the breakout.

 

gbb-daily-2012-09-12.jpg?psid=1

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I know GBB management have mentioned Granada in the same breath as the Detour Lake and Malartic deposits in the past - maybe they are right!

 

Drill hole GR-12-400 extends near surface mineralized zone an additional 175 meters to the West of the current LONG Bars zone resources model

Gold Bullion Development Corp. GBB

10/18/2012 10:13:00 AM

 

Drill hole GR-12-400 extends near surface mineralized zone an additional 175 meters to the West of the current LONG Bars zone resources model

 

 

VANCOUVER, Oct. 18, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce that drill-hole GR-12-400, the western-most of the holes available to date, has hit significant gold mineralization.

GR-12-400 returned 0.45 g/t Au over 85.50 metres from 30.0 to 115.5 metres including 2.19 g/t Au over 4.50 metres near surface from 30.0 to 34.5 metres down hole. These results confirm the extension of gold mineralization continuing 175 metres to the west of the current resource model at the Granada gold property. The total extent of confirmed mineralization now reaches 1400m East-West by 950m North-South. This is a significant confirmation of gold mineralization extension in the context of the resource estimate and suggests the overall gold resource will be larger than the 641,100 ounces of gold Measured/Indicated and 846,600 ounces of gold Inferred as delineated in the summary press release dated April 2
nd
, 2012.

The average grade of 0.45 g/t Au over 85.50 metres returned in hole GR-12-400 is noteworthy when compared to the 0.40 g/t Au cut-off grade utilized in the most recent and current NI-43-101 resource estimate. The overall grade of this mineralization extension hole is likely high enough for inclusion in the resource update expected to be released prior to the end of 2012.

Other highlights include holes:
  • GR-12-413 -
    0.55 g/t
    Au over 109.5 metres from 4.5 metres to 114.0 metres

  • GR-12-412 -
    0.58 g/t
    Au over 82.5 metres from 15.0 metres to 97.5 metres

  • GR-12-414-R
    - 0.92 g/t
    Au over 28.5 metres from 7.5 metres to 36.0 metres

Additional drill results are included further below.

The Granada gold property is located on the prolific Cadillac trend in north-western 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 in a stable geo-political environment that features numerous economic gold deposits and operating gold mines with Quebec consistently ranking in the top five best places to mine globally.

With over 80% of the expanded LONG Bars zone yet to be systematically explored, ongoing drill results that continue to hit significant gold mineralization are suggestive of a potentially massive deposit similar in size to other world-class deposits documented in the region. 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.

Drill Hole
From
To
Length(m)
Au (g/t)
GR-12-395 72.0 85.5 13.50 0.64 GR-12-396 49.5 63.0 13.50 0.64 GR-12-397 34.0 42.0 8.00 0.53 GR-12-398 52.5 60.0 7.50 0.58 GR-12-399 129.0 138.0 9.00 0.83 GR-12-399 36.0 45.0 9.00 0.45 GR-12-400 30.0 115.5 85.50 0.45 including 30.0 31.5 1.50 6.39 including 61.5 64.5 3.00 3.41 including 114.0 115.5 1.50 2.49 GR-12-401 93.0 100.5 7.50 0.82 GR-12-411 42.0 49.5 7.50 0.75 GR-12-411 121.5 129.0 7.50 0.65 GR-12-412 15.0 97.5 82.50 0.58 including 15.0 19.5 4.50 8.39 including 94.5 97.5 3.00 1.46 GR-12-413 4.5 114.0 109.50 0.55 including 4.5 7.5 3.00 11.54 including 81 82.5 1.50 1.07 including 93.0 94.5 1.50 4.40 including 112.5 114.0 1.50 2.50 GR-12-414-R 7.5 36.0 28.50 0.92 including 7.5 9.0 1.50 1.75 including 12.0 15.0 3.00 3.26 including 16.5 19.5 3.00 1.69 including 28.5 36.0 7.50 0.94 GR-12-436 37.5 42.0 4.50 1.62 GR-12-436 264.0 267.0 3.00 4.01 GR-12-437 48.0 51.0 3.00 1.34 GR-12-438 10.0 12.0 2.00 0.57 GR-12-438 57.0 60.0 3.00 0.80 GR-12-438 85.5 88.5 3.00 1.17 GR-12-439 18.0 24.0 6.00 0.83

 

Core lengths are close to true thickness and uncut, some intervals include low-grade zones.

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.

Moreover, the water-filled pit bottom survey carried out by Mazac Geoservices Inc., at the request of SGS, has demonstrated that the small pit to the East is a shallow pit of one lift only and easily accessible gold mineralization considered mined out in previous resource statement will now be incorporated. Historical tailings are only in historical Pit 1 north of shaft #1.

Frank Basa, Gold Bullion's CEO, remains confident in the potential of Granada as drill results continue to demonstrate the presence of progressively increasing widespread significant gold mineralization supportive of a near-surface low-grade bulk mining scenario. Additional details regarding ongoing planning and continued progress at Granada will be released as they are finalized. The Company remains committed to releasing an updated NI-43-101 by the end of December 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.

 

 

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Great reserve estimate update but the market remains unmoved!

 

What on earth do these guys have to do to catch a bid.

 

GOLD BULLION PROVIDES MINERAL RESOURCE ESTIMATE UPDATE FOR GRANADA

 

Gold Bullion Provides Mineral Resource Estimate Update For Granada

 

 

VANCOUVER, Nov. 15, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to provide an updated independent NI 43-101 compliant gold mineral resource estimate on its Granada Gold Property, located along the prolific Cadillac trend in North-western Quebec, 5 km south of the city of Rouyn-Noranda. The total gold resource at Granada now stands at 2,638,000 gold ounces using a cut-off grade of 0.40 g/t with 1,605,000 ounces in the Measured and Indicated categories.

Highlights include the following:

  • The in situ measured resource is 946,000 ounces (28.735 million tonnes grading 1.02 g/t), indicated resource is 659,000 ounces (18.740 million tonnes grading 1.09 g/t), inferred resource is 1,033,000 ounces gold (29.975 million tonnes grading 1.07 g/t Au) using a cut-off grade of 0.40 g/t.
  • The selected base case in-pit measured resource is 811,300 ounces (24.992 million tonnes grading 1.01 g/t), indicated resource is 354,600 ounces (9.336 million tonnes grading 1.18 g/t), inferred resource is 11,100 ounces gold (0.449 million tonnes grading 0.77 g/t Au) using an effective cut-off grade of 0.36 g/t based on a Whittle-optimized pit shell simulation using estimated operating costs, a 3 year trailing average gold price of CAN$1450 per ounce and a corresponding lower cut-off grade of 0.36 grams per tonne gold.
  • Previous small open pits have been taken into account and are starting surfaces of optimization while the historical production of 51,476 ounces (181,744 sT @ 0.28 oz/sT) from 1930 to 1935 are included in the resource statement. (cannot physically remove from measured, indicated or inferred).
  • The mineralized system is still open at depth and laterally.
     

SGS Canada Inc, (SGS Geostat office of Blainville, Québec, "SGS") are the independent resource estimate consultants for the Granada project. SGS has authorized the release of the following estimates included in the table below that summarize their block model estimates using variable cut-off grades:

Granada gold deposit In Situ Resource Estimates Cut-off 0.4 g/t Tonnage Au g/t Au Oz Measured 28,735,000 1.02 946,000 Indicated 18,740,000 1.09 659,000 Total M+I 47,475,000 1.05 1,605,000 Inferred 29,975,000 1.07 1,033,000 Cut-off 1.0 g/t Tonnage Au g/t Au Oz Measured 7,810,000 2.14 536,000 Indicated 5,347,000 2.32 398,000 Total M+I 13,157,000 2.21 934,000 Inferred 8,600,000 2.23 617,000 Cut-off 2.0 g/t Tonnage Au g/t Au Oz Measured 2,533,000 3.76 306,000 Indicated 1,869,000 4.07 245,000 Total M+I 4,402,000 3.89 551,000 Inferred 3,030,000 3.89 379,000

Note: rounded numbers, base case cut-off >0.4 g/t in bold.

SGS also estimated an in-pit resource within a Whittle-optimized pit shell using a base case gold price of CAN$1450 per ounce. The table below summarizes the in-pit resources with the selected base case in Whittle optimizations:

In-pit Estimates*

CoG

g/t Ore

M tonnes Grade

g/t Au

oz Nov 2012

(within

claims &

Au = 1450

$/oz) Measured

 

Indicated

 

Inferred 0.36

 

0.36

 

0.36 24,992,000

 

9,336,000

 

449,800 1.01

 

1.18

 

0.77 811,300

 

354,600

 

11,100 Mea+Ind

0.36

34,328,900

1.06

1,166,000

*Rounded numbers

The in-pit estimate is based on a mining cost of CAN$2.00 per tonne and a processing cost of CAN$16.00 per tonne (including G&A), assuming gravity cyanidation treatment of the mineralized material.

Other assumptions include 94.1% recovery of gold in and pit wall slope angle of 45 degrees in the south footwall and 50 degrees in the north hanging wall.

Details on the parameters of the resource estimates are as follows:

  • The database used for Granada includes drilling obtained from the 2009-2010-2011 and 2012 from Gold Bullion drill programs.
  • Most NQ assays reported by Gold Bullion were obtained by standard 50 g fire assaying-AA finish or gravimetric finish and another fraction by screen metallics at various laboratories, ALS Chemex laboratories in Val d'Or, Quebec, Accurassay, Lab Expert and Swastika.
  • The estimates were done using Inverse Distance Square (ID2) as the interpolation method based on 1.5 metre analytical composites.
  • Composites calculations are based on original samples value and were afterward capped at 30 g/t.
  • All estimates are based on a Parent Cell dimension of 10 metres E, 5 metres N and 5 metres height with search ellipsoid and estimation parameters determined for the mineralized zone geometry.
  • Geological interpretation for the deposit identified one main structurally-controlled mineralized domain including higher grades within the envelope hosted by conglomerates of the Timiskaming group. The estimation of the mineralized domain was done in 3 runs where the first required a minimum of 4 holes using a maximum of 3 composite per hole within a search ellipsoid of 50m by 50m by 5m dipping 47 degrees north, while the second run used a minimum of 3 holes within a search ellipsoid of 100m by 100m by 10m dipping 47 degrees north, and the last run one hole within the domain minimum 3 composites in a 200m by 200m by 15m dipping 47 degrees north.
  • For the classification 4 holes with 3 composites within a 40m by 40m by 5m ellipsoid for measured, 3 holes with 3 composites within a 80m by 80m by 10m ellipsoid for indicated, the rest being inferred.
  • Underground voids (shaft & drifts) were modeled from historical mine plans and adjusted according to positions of drill intersections in stopes and drifts. The stopes could not be placed in space with accuracy. Historical production from underground needs to be subtracted from the resource estimate.
  • Tonnage estimates are based on rock densities of 2.70 tonnes/cubic metre.
  • The global resource estimates using the lower cut-off of 0.4 g/t Au is emphasized for reporting purposes as this is close to the in-pit cut-off estimated for the CAN$1450 Whittle shell, which represents the reasonable potential of economic extraction in SGS QP's opinion.
  • Additional details will be provided in the technical report to be issued within the next 45 days.
     

Mr. Claude Duplessis, Ing. of SGS is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.

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.

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

 

 

Canada Newswire

November 15, 2012 - 10:45 AM EST

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There's been a few great moves recently by management like the forum - link above, and;

 

 

Gold Bullion Provides Mineral Potential at Depth for Granada

 

 

VANCOUVER, Nov. 26, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce the potential quantity and grade ranges for the underground extensions at its Granada gold property, located on the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda.

Based on the resource estimate information and the deep hole program interpretation, SGS Canada Inc. has provided the following potential quantity and grade ranges:

POTENTIAL QUANTITY AND GRADE RANGES (1)

 

Zone Metric Tonnes (Million) Gold grade (g/t) UG extension West 7.4 to 11.1 3.40 to 4.70 UG extension East 2.2 to 3.3 3.20 to 4.30 Total 9.6 to 14.4 3.35 to 4.61 (1) The potential quantity and grade is conceptual in nature as there has

been insufficient exploration to define a mineral resource and it is

uncertain if further exploration will result in the target being delineated

as a mineral resource.

 

The potential stated above is based on projections within the mineralized plan of two and three mineralized zones of 3 meters true width on the west and east side of the deep hole program under highly drilled surface mineralization.

As disclosed in Gold Bullion's press release of November 15, 2012:

The total gold resource at Granada now stands at 1,605,000 gold ounces in the Measured and Indicated categories with 1,033,000 gold ounces in the Inferred category using a cut-off grade of 0.40 g/t. The in situ measured resource is 946,000 ounces (28.735 million tonnes grading 1.02 g/t), indicated resource is 659,000 ounces (18.740 million tonnes grading 1.09 g/t), and inferred resource is 1,033,000 ounces (29.975 million tonnes grading 1.07 g/t Au), using a cut-off grade of 0.40 g/t. Additional information can be found in the Company's press release of November 15, 2012.

On April 22, 2010 the Company set a target of 2.4 to 2.6 million ounces of gold as per the original preliminary block model estimate. That target has been hit as evidenced by the press release dated November 15, 2012. Based on this additional data from SGS, Frank J. Basa, Gold Bullion's CEO, is very pleased to state "The Company is now targeting 3.6 to 4.6 million ounces of gold from the next phase of the continued exploration program at Granada with some 80% of the extended Long Bars zone remaining to be explored."

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.

 

 

Read more at http://www.stockhous...y7Bg53wBhFwH.99

 

 

Amounting to possibly another 2Moz Au. No nugget effect considered and only 20% of the property explored.

Just a matter of time before this one blows its top.

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Does anyone have any news as to the heath/viability of GBB? The share price has been hammered in recent months. If Cuthbert's out there have you got any useful latest info on this one?

Thanks

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At last, some movement.

 

Gold Bullion to process Granada ore at Iamgold's mill

2014-04-10 10:47 ET - News Release

Also News Release (C-IMG) Iamgold Corp

Mr. Frank Basa of Gold Bullion reports

GOLD BULLION ANNOUNCES MOU WITH IAMGOLD

Gold Bullion Development Corp. has signed a memorandum of understanding with Iamgold Corp., dated April 8, 2014, with respect to Iamgold processing ore emanating from the Granada mine site at its Westwood mill. After appropriate due diligence, Management has determined IAMGOLD Corporation is the best-positioned local mill facility to process the mineralized material from Granada. In summary, its proximity provides the most cost effective and economic option for the Company due to the short hauling distance from the Granada mine site. The subject-mineralized material is to be mined from the near surface drill indicated gold resource identified in the Extend LONG Bars Zone. At this stage of property development, the Company is targeting a total of 500,000 to 600,000 tonnes of mineralized material for processing over a three-year period. The transaction terms outlined in the MOU are non-binding on the parties and the MOU is expected to be superseded by a definitive milling agreement to be signed between the parties no later than June 30th, 2014.

Memorandum of Understanding

Under the proposed terms of the MOU, IMG anticipates milling between 500,000 to 600,000 tonnes of gold mineralized material for Gold Bullion or 150,000 to 200,000 tonnes on an annualized basis. Management has set out the initial terms of the milling agreement at three years with the subject-mineralized material to be milled in batches. It is expected typical batch size will range from 35,000 to 50,000 tonnes with each batch of material to be processed consecutively as one complete batch. Processing will take place on a schedule of one batch every three months. Once each batch of ore has been processed, settlement to Gold Bullion is to be made in the form of recovered precious metals that will be deposited to Gold Bullion metal accounts at the refiners' offices.The milling agreement will have an Evergreen clause that will renew the agreement automatically for an additional three years upon completion of this first agreement unless either party notifies the other in writing otherwise. This written notice must be with 120 days advance notice prior to the end of this initial term. The milling agreement can also be terminated earlier for convenience or based on other changes in circumstances, again by either party. Detailed specifics of the milling agreement will be forthcoming when finalized by both parties.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aGBB-2164440&symbol=GBB&region=C

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