RE: RE: Strong support at MA50This was the first release that went out on stockwatch, that is why I believe that Basa has STRONG indications that the results will be stunning:
2010-07-13 08:49 MT - News Release
Mr. Frank Basareports:
GOLDBULLION DRILLSBEST-EVER RESULTS AT GRANADA
GoldBullionDevelopment Corp. (TSX.V: GBB) (the "Company" or "Gold Bullion")ispleased to report that a 20,000 metre Phase 2 drill program at its100%owned Granada Gold Property is proceeding ahead of schedule with atotalof 9000 metres (47 holes) completed as of this morning. Granada,fivekilometers south of Rouyn-Noranda, Quebec, is situated alongtheprolific "Cadillac Trend" where numerous multi-million ouncegolddeposits have been discovered.
While oneLanddrillInternational Inc. rig is handling infill drilling at 30-metrespacingwithin the LONG Bars Zone Preliminary Block Model, the otherdrill rigis in the Phase 1 east-northeast discovery area in an effort tofurtherdefine the extent of mineralization near surface and below 150metresvertical depth in this part of the LONG Bars Zone. Drilling inthispromising area has totaled nearly 4,000 metres (17 holes) so far andisconsistently intersecting multiple zones of altered feldsparporphyry,favorable for gold mineralization, along with some quartzveining in alldirections surrounding discovery hole GR-10-17. Visiblegold has beenobserved in a few of the holes.
Drilling isgraduallypushing east of GR-10-17 as GENIVAR, Gold Bullion´sgeologicalconsultant, continues to test a number of auriferousstructurescontained within a wide, east- west trending zone ofshearing,alteration and quartz veining. In a significant development,GENIVAR hasplanned a deep hole (365 metres vertical depth) 176metreseast-southeast of GR-10-17. Drilling of this target, which wouldbe thedeepest hole drilled so far by Gold Bullion at Granada, isexpected tocommence within the next day or two and is designed toconfirm anextension of altered zones that have been discovered in otherPhase 2holes 75 metres to the northwest and southwest, respectively.
GoldBullion´s 4,900hectare land package extends several kilometers east ofGR-10-17 (theeasternmost hole drilled in Phase 1) which includes an areathe Companyis now calling "LONG Bars Zone 2". Historically defined aspart of theGranada "Eastern Extension", numerous gold showings in LONGBars Zone 2were reported as far back as the 1930´s and in an explorationprogramconducted by KWG Resources in the early 1990´s. GENIVARcontinues tocompile information on LONG Bars Zone 2 which is 1800 metresor 1.5kilometres east of GR-10-17 and includes a 1 kilometre long shearzone.This area received considerable historical attention but was notviewedin the context of the new geological interpretation of Granada asapotential near-surface, bulk tonnage deposit amenable toopen-pitmining. Page 2 of 3
Several northeasterlyfault zonescross the shear zone and are considered prime targets forpossibleeconomic gold concentrations. Numerous vein zones, hosted byboth GranadaFormation conglomerate and feldspar porphyry, have beendelineatedhistorically in LONG Bars Zone 2 through trenching withconsiderablevisible gold noted. The auriferous veins reportedly widenwith depth andoccur in an east-west trending zone measuring at least1200 metres inlength and 200 meters in width.
With similargeologicalcharacteristics to the original and current LONG Bars Zone,LONG BarsZone 2 is a high priority exploration target for Gold Bullionand has thepotential of significantly impacting both the scale andgeometry of theoverall mineralized system at Granada.
"We´re thrilled withtherapid progress we´re making as we attempt to define an economic,bulktonnage deposit at Granada, or a series of deposits, amenable toopen-pitmining," stated Gold Bullion President and CEO Frank Basa."LONG BarsZone 2 adds a whole new dimension to Granada and we lookforward toexploring this highly prospective area. Our Preliminary BlockModel isvery exciting and continues to hold considerable potentialasexploratory, infill and definition drilling take place there, butthepossibilities for Granada outside the Preliminary Block Model arereallystarting to come into focus. We´re confident we´re expanding theLONGBars Zone strike length with encouraging Phase 2 indicationsaroundGR-10-17, and now we have a LONG Bars Zone 2 to give Granadafurtherexploration upside. Combined with our 30,000 tonne bulk sample in2007that graded 1.62 g/t Au, we have complete confidence we´re on therighttrack with this very large project," Basa concluded.
Withsuch extensivedrilling which started in early May, Gold Bullion is usingtwo assaylabs. The Company is eagerly awaiting the first set ofresults, expectedin the near future, but has been advised of delays atboth labs due tonormal processing backlogs with a large number of coresamples fromnumerous companies being analyzed. Results will be reportedas soon asthey are available and reviewed.
Mineralization intheLONG Bars Zone is open in all directions.
About GoldBullionDevelopment Corp.
Gold BullionDevelopment Corp. is a TSXVenture listed junior natural resourcecompany focusing on theexploration and development of its Granada GoldProperty near Rouyn-Noranda, Quebec, and its high grade Castle SilverMine in Gowganda,Ontario.
For more informationon Gold Bullion Development Corp.(TSX-V: GBB, OTC PK: GBBFF), visit ourweb site:www.GoldBullionDevelopmentCorp.com.
Qualified Person
Thescientific andtechnical information in this release was prepared underthe supervisionof Mr. Frank J. Basa, P.Eng., Gold Bullion´s CEO andPresident who is amember of the Ontario Association of ProfessionalEngineers and a"qualified" person in accordance with National Instrument43-101.
"Frank J. Basa"
Frank J. Basa, P.Eng.
Presidentand ChiefExecutive Officer Page 3 of 3
For furtherinformationcontact:
Frank J. Basa, P.Eng.,President and CEO: 1-416-625-2342
RogerThomas,Director: 1-613-292-2438