Gold Bullion Announces Trenching Results with Highlights of 108.6 G/T Au on 1 M Channel
(via Thenewswire.ca)
Rouyn-Noranda, Quebec / TNW-ACCESSWIRE / November 18, 2014 / Gold Bullion Development Corp.(TSX.V: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to report positive results from the channel sampling program within the context of the PFS on the "Rolling Start" at Granada as first disclosed May 6th, 2014.
In September 2014, six trenches were completed to the east of Pit 2A with each trench measuring 100 m long by 1.8 to 2.5 metres in width trending N 195?. The space between the trenches T14-1, T14-2, T14-3, T14-4 and T14-5 is 25 metres. Trench T14-6 is located 36 m east of Pit 2A. The conglomerate bedrock was uncovered with the majority of the work conducted as continuous channel sampling. The program was carried out by Technominex and supervised by L. Caron, Geo. GoldMinds Geoservices Inc.
A total of 334 channel samples were assayed for Au by Accurassay Lab laboratory in Rouyn-Noranda with fire assay SAA/PCI method on 30 gram samples and by gravimetric method on 50 gram samples for those samples with more than 10g/t Au. QA/QC: samples were 1m long with a standard inserted every 20 samples, and a blank inserted every 40 samples.
All trenching took place subject to some related environmental constraints with respect to the area in focus including the volume of overburden allowance.
The gold mineralization is within the quartz veinlets through the syenite porphyry and the conglomerate of the Granada Formation in the Temiskaming Group. The conglomerate shows a chlorite alteration in the footwall of the mineralized zone that is rather sericitic and ankeritic inside the mineralized zone. Trenching work outlined the mineralization zones that were cut by the previous diamond drill holes and provided important information in terms of where to commence upcoming surface mining operations within the context of the PFS issued earlier in the year. This information will be included in the block model.
In trench T14-6, located 36 m to the east of the Pit 2A limit, two mineralized zones were outlined by the channel sampling. The first zone is from 18 to 23 m and returned 5.0 m @ 1.638 g/t Au while the second zone, between 28 and 32 meters returned 3.0 m @1.2 g/t Au. This data indicates there is a strong possibility to extend the mineralized zone from Pit 2A, but additional surface work is needed prior to confirming this.
Trench T14-3 cut three mineralized zones. The main zone is seen in a wide sericite and silica alteration zone with quartz veinlet net concentrate between 29.0 and 33.0 m which returned 4.0 m @ 2.947 g/t Au. This zone included a very high value of 108.6 g/t Au on a 1 m channel cutting a quartz veinlet inside the altered conglomerate.
Trench T14-5 also cut a mineralized zone of interest between 22.0 and 28.0 m which returned 5 m @ 2.303 g/t Au. In trench T14-1, from 17.0 to 21.0 m returned 4.0 m @1.931 g/t Au with another mineralized zone from 96.0 to 99.0 m @ 1.535 g/t Au. The trenching work also permitted the observation of the senestrial N-E shearing of the E-W veinlet system.
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Results of channel sampling in the trenches at the Granada Gold Bullion Property (Assay cut to 10 g/t Au)
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No Trench
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From
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To
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Length
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g/t Au
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T14-1
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17.0
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21.0
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4.0
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1.931
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T14-1
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96.0
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99.0
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3.0
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1.535
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T14-2
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2.7
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4.0
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1.3
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0.859
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T14-3
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18.0
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21.0
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3.0
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1.699
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T14-3
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29.0
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33.0
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4.0
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2.947
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T14-3
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61.0
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66.0
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3.0
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1.660
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T14-4
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29.0
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32.5
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3.5
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1.538
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T14-5
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22.0
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28.0
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6.0
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2.303
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T14-6
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18.0
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23.0
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5.0
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1.638
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T14-6
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28.0
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31.0
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3.0
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1.200
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Follow link below to maps.
https://www.goldbulliondevelopmentcorp.com/en/projects/location-map-of-test-trenches.aspx
Claude Duplessis, P. Eng., President of GoldMinds Geoservices, is responsible for the technical information herein and has reviewed and approved the contents of this news release. Claude Duplessis is a Qualified Person and is independent of Gold Bullion Development Corp. within the meaning of NI 43-101.
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, Quebec, and its high grade Castle Silver Mine in Gowganda, Ontario. 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
For further information contact:
Frank J. Basa, P. Eng., President and CEO at 819-797-4144.
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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