VANCOUVER, May 15, 2013 /CNW/ - Gold Bullion Development Corp.
(TSXV:GBB) (OTCPINK:GBBFF) (the "Company" or "Gold Bullion") is pleased
to announce that as part of the Company's ongoing program to produce a
Preliminary Feasibility Study (PFS), the Company has engaged several
independent consultants. SGS Mineral Services - Lakefield in Canada and
Gekko Systems based in Australia will conduct metallurgical test work
for process plant flow sheet optimization. Roche Ltée, Groupe-conseil
has also been retained and will be responsible for all aspects of
environmental and permitting work while C.C. Consultants will be
advising on matters pertaining to social responsibility and local
community communications. SGS Geostat's role is to over see management
of the entire project.
The Company's Preliminary Economic Assessment (PEA), full document
issued February 4th, 2013, indicated that the proposed mine was cash flow positive for both
the open-pit and underground scenarios independent of one another.
The PEA has served as the starting point for the determination of
extraction process optimization with the goals of reducing cash cost
per ounce and related capital expenditures. Also in this first PEA, as
part of this optimization process, the Company included scenarios that
increased the grade of the open pit resource from 1g/t Au to 2 g/t Au.
Going forward, the Company will conduct a thorough review to evaluate
whether the increase in grade will in fact lower cash costs per ounce
as well as associated capital expenditures.
Claude Duplessis, P. Eng., is acting as the qualified person (QP) for
Gold Bullion Development Corp. in compliance with National Instrument
43-101 and has reviewed the technical contents of this press release.
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 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.
For further information:
Frank J. Basa, P.Eng., President and CEO at 1-514-397-4000