VANCOUVER, April 2, 2015 /PRNewswire/ - Gold Bullion
Development Corp. (TSX.V: GBB) (OTCPINK: GBBFF) (the "Company" or
"Gold Bullion") continues to be encouraged about the overall gold
hosting potential of the Castle property with the indication of a
potential second gold mineralization zone to the north of 2014's
trenching activities based on mineralized boulders north of the
strongly mineralized zones in the 2014 trenching work.
The Castle property is located in Haultain and Nicol Townships
in northern Ontario within the
historic Gowganda silver mining
camp. The property comprises 3,252 hectares and includes the
historic former silver producing Castle Mine. The Company has
established a fully integrated exploration camp with
diesel-generated power on the property accessible year around by
paved and gravel roads.
This newly discovered gold mineralization is in addition to the
high-grade silver drill intersection highlighted in an August 25, 2011 press release of 3.09 m (10.138
feet) grading 6,476 g/t Ag (188.80 oz/ton Ag) in Hole CA 11-08 from
563.54 to 566.63 m including a 0.45 m (1.476 feet) intersection of
40,944 g/t Ag (1193.70 oz/ton Ag) in a calcite-Co-Ag vein (not true
width).
In tandem with the previous gold findings announced December 8, 2014 at the Castle property, the
geological team is working to identify target areas from zones
trenched in November 2014. These
latest new channel sampling results indicate a grade of 2.24 g/t Au
over 2.20 m along Channel 4 in Trench D3 including one channel
sample of 3.77 g/t Au over 1.27 m. In Trench D1, Channel B
indicates a grade of 0.77 g/t over 3.98 m including a sample
grading 1.25 g/t Au over 0.83 m.
|
Channel 2 T-D3 1.16
g/t over 0.83 m
|
|
Channel 4 T-D3 2.24
g/t over 2.20 m including 3.77g/t over 1.27 m
|
|
Channel 5 T-D3 0.62
g/t over 0.98 m
|
|
Along with the 94 samples taken in 2013, a total of 345 new
Mobile Metal Ion (MMI) samples were completed in the fall of 2014.
The entire sampling area is just under 1 km2 with
variability in sampling density dependent on proximity to known and
expected mineralization and structures. All analyses have been
received and are currently being plotted with interpretation
pending.
Due to the mineralization, alteration and structures identified
in trenching to date, it is anticipated that the addition of the
pending MMI interpretations will be valuable in the identification
of additional target areas. Preliminary analysis indicates
additional trenching is now warranted to the south of recent
trenching activity.
With copper values as high as 1.032% in the bedrock (News
Release dated December 8, 2014), the
Company is also working to establish the metals associated with the
discovered gold to assist in guiding subsequent exploration en
route to a conclusive determination on the potential deposit type
associated with the mineralized zone in both the east-west and
north-south structural trends mapped in those trenches.
Work continues based on the strong indications for the potential
discovery of additional mineralization associated with the gold and
copper values as previously reported in the Company's December 8, 2014 press release. Previous results,
in conjunction with boulder tracing and other mapping tools have
led the Company geologists to this stage with the next goal to
determine the parameters for a larger survey at Castle.
Quality Control
Gold Bullion adheres to a strict Quality Assurance/Quality
Control for the current program. Samples reported herein were
submitted with three mineralized gold standards and three blanks
distributed through 150 samples. Swastika Laboratories ran one
mineralized gold standard and one blank for each batch of 20-25
samples. Analyses are performed by Swastika Laboratories,
Swastika, Ontario, an accredited
laboratory.
Qualified Person
The technical information in this news release was prepared
under the supervision of Mr. Frank J.
Basa, P. Eng., Gold Bullion's President and CEO, who is a
member of the Ontario Association of Professional Engineers and a
"Qualified Person" in accordance with National Instrument
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, Québec, and its high-grade
Castle Silver Mine in Gowganda,
Ontario. Additional information on the Company's properties
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.