Gold and Mining Stocks; GOLD BULLION (TSX-V: GBB) DRILLS 80 METRES OF 1.36 GRAMS PER TONNE GOLD
Vancouver, British Columbia - May 12, 2011 (Investorideas.com Mining stocks Newswire) - Gold Bullion Development Corp. (CDNX:GBB.V) (Other OTC:GBBFF.PK) ("Gold Bullion") is pleased to announce additional drill results from their Granada Property, located along the Cadillac trend in Northwestern Quebec, 5 km south of the city of Rouyn-Noranda. Gold Bullion has now completed 24,000m of the planned 50,000m Phase 3 drill campaign. The continually-expanding mineralized area remains open in all directions and at depth. Highlights of the most recent assay results include:
Including - 2.00 metres grading 16.75 grams per tonne
Hole GR-10-173 - 80.00 metres grading 1.36 grams per tonne
Including - 1.00 metres grading 89.83 grams per tonne
Hole GR-11-200 -- 106.00 metres grading 0.81 grams per tonne
Including -- 1.50 metres grading 42.90 grams per tonne
Mineralization of the above three holes is within 7 metres from surface vertical. Drilling at the Granada property continues with 2 drill rigs on 24 hours a day 7 days a week schedule. The present mineralized zone now covers an area of 1.2 kilometres along strike and is up to 0.5 kilometres wide. Drilling has begun in the area of the Aukeko target, about 2 km east from Hole GR-10-17. In this area, mineralization still shows an east-west trend, but any relationship with the mineralization of the Granada property still remains to be determined. The Company plans to test the extent of the mineralization to depth of 450 metres vertical.
Four holes (GR-10-147, GR-10-156, GR-11-232 and GR-11-238) did not intersect significant mineralization and are therefore not included in the above table.
Widths reported in the preceding table are drill widths; true widths are unknown at this time. Assays are uncut, length-weighted average values. Lost core within mineralized intersections were incorporated as blank intervals and assigned a 0.0 g/t grade in all length-weighted calculations.
Gold Bullion's NQ drill program and drill core sampling, including the quality assurance/quality control program, are supervised by GENIVAR, Gold Bullion's geological consultant. Core from the above holes was sent to ALS Chemex Labs in Val d'Or, Quebec, and Accurassay Laboratory in Timmins, Ontario, for analysis. Gold was assayed by fire assay with additional metallics analysis done on samples where visible gold was identified. Analytical accuracy and precision are monitored by the analysis of reagent blanks and reference materials at both labs. Quality control is further assured by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by Gold Bullion and GENIVAR personnel in order to independently assess analytical accuracy.
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 Gold Property near Rouyn-Noranda, Quebec, and its high grade Castle Silver Mine in Gowganda, Ontario.
For more information on Gold Bullion Development Corp. (TSX-V: GBB, OTC PK: GBBFF), visit our web site: http://www.GoldBullionDevelopmentCorp.com
The scientific and technical information in this release was prepared under the supervision of Ms. Nicole Rioux, P. Geo., GENIVAR's senior geologist and a member of the Ordre des g�ologues du Qu�bec and a "qualified" person in accordance with National Instrument 43-101.
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.