VANCOUVER, Dec. 30, 2013 /CNW/ - Gold Bullion Development Corp. (TSXV:
GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") has mandated
SGS Geostat ("SGS") to review several options including the capacity of
local milling alternatives in addition to on-site milling at the
Granada property. Due to general market conditions, local excess
milling capacity may now be available that will allow the Company to
more efficiently process mineralized material from Granada. Test work
is currently underway to evaluate the suitability and efficiency of
various custom milling circuits. In addition to the open pit scenario
previously referred to in the Company's press release dated November
13, 2013, the Company has mandated SGS to review the
underground-mineralized material to be processed during the rolling
start phase of the Granada Gold Mine property development. To date, the
associated mining costs were determined based on using a primary mining
contractor with blasting activities subcontracted. The costs
anticipated at this stage are in line and consistent with previous
Due to these additional mandates, SGS has informed Gold Bullion
management that the revised Pre-Feasibility Study will most likely be
completed early in the second quarter of 2014. In the interim, an
extensive community communication program will be launched in January
2014. Several meetings have been scheduled for the region surrounding
the Granada mine site to ensure the extremely high environmental
standards in the plan are clearly understood by local residents.
Claude Duplessis, P. Eng., a consultant for SGS Geostat, 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, 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
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