Coffin comments on GBBGold Bullion picked up the Granada Mine
project, about 4 km south of the city of Rouyn-Noranda that kicked off the region’s base metal history,
several years back with the intent of sizing it up for near term production. The mine had a history of
underground vein production for gold plus some surface mining suggesting it could have bulk potential.
Though the Crunch killed off its ability to finance at decent levels, GBB did generate a 140,000 tonne bulk
test last year, from which it processed 30,000 tonnes in a small local mill that indicated a 1.66 g/t grade in
the bulk tonnage material. With that in hand it choose to pick up more surrounding ground and refocus on
exploration; historic and recent testing in the old workings areas could generate a preliminary resource
estimate, but our interest focused on this week’s exploration holes. The results that came out on Tuesday
morning had three strong holes, including 99 metres of 0.95 g/t that included 22.5 g/t @ 3.2 g/t gold; 68.8
m of 1.1 g/t that included 14 m @ 4.3 g/t gold; and 59 m of 0.93 g/t gold including 32.5 m of 1.3 g/t gold.
These holes were drilled in the eastern end of the known trend and 500-600 metres from the old workings
area. While it is still early in the exploration process, these shallow intersections do indicate a bulk tonnage
system with broad gold grade is in place, that it is open along trend, and possibly that the system extends
beyond previous assumptions towards the main Cadillac Break to the north of the testing. The results are
strong enough to have generated 16 million shares of turnover in two days, and almost double the share
price from its 10 cent base. There are another 13 drill holes to report from this program, the results of which
will determine the level at which a financing needed to test the project at scale could be done. Those holes
are the near term speculation, but regardless there will be a longer term play here that has already
generated a strong audience. The price jump means there may be room to pick up the stock at somewhat
lower prices even though GBB does still have a small market cap. Given the strong local infrastructure and
some existing though still unqualified historic resource potential we consider Gold Bullion a good speculation
in the current price range. https://www.goldbulliondevelopmentcorp.com