Gold Bullion Development Releases NI-43-101 Technical Report on Granada Gold Project with SGS Canada Granted Mandate for Preliminary Feasibility Study for a Rolling Start with an On-site Mill
VANCOUVER, Feb. 4, 2013 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to provide an independent NI-43-101 Technical Report prepared in accordance with "National Instrument 43-101 - Standards of Disclosure for Mineral Projects" (NI 43-101), on its Granada Gold Property, located along the prolific Cadillac trend in North-western Quebec, 5 km south of the city of Rouyn-Noranda.
The Technical Report, titled "Preliminary Economic Assessment (PEA) Granada Gold Project, Rouyn-Noranda, Abitibi, QC", dated February 4, 2013 carries an effective date of December 21, 2012. This report was prepared by SGS Canada Inc. and authored by Claude Duplessis, P.Eng., Gaston Gagnon, P.Eng., Jonathan Gagné, P.Eng. and Gilbert Rousseau, P.Eng., all Qualified Persons as defined by NI 43-101. The Technical Report is available on-line under the Company's profile on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on the Company's website at www.goldbulliondevelopmentcorp.com.
Gold Bullion has given a mandate to SGS Canada Inc. to prepare a Preliminary Feasibility Study (PFS) for a Rolling Start in accordance with the following objectives; to provide grade validation for processing around 475 tonnes per day for a three year period, to begin pouring gold at the earliest opportunity and to prepare the site for a below the horizon mill with a zero discharge configuration. The PFS is also to include specific recommendations demonstrating that Gold Bullion is a good corporate citizen to ensure continued strengthening of positive relations in the surrounding community.
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. Additional information on the Company's Granada gold property is available by visiting their 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.For further information:
Frank J. Basa, P.Eng., President and CEO at 1-514-397-4000