VANCOUVER, Feb. 29, 2012 /CNW/ - Gold Bullion Development Corp.
(TSXV:GBB) (OTCPINK:GBBFF) is pleased to announce the release of 29
composite sample results from the SGS Lakefield Gold Metallurgical
Testing Group. These results are to be used in the Total gold
determination program that SGS Geostat is working on for the Granada
Gold Property located on the prolific Cadillac trend, south of
Rouyn-Noranda, Quebec, Canada.
The purpose of the test was to determine the head grades and recoveries
of the various composites in order to compare them with the individual
assay results. Mr. Claude Duplessis, Eng., the SGS Geostat Q.P.,
selected 29 different composite samples from 29 different mineralized
zones at various depths with variable grades. The test work consisted
of a total gold metallurgical balance that resulted in overall gold
Overall recovery rates averaged 94.1% ranging from 87.1% to 98.5%. These
numbers demonstrate that even at low grades, superior recovery of gold
can be achieved within the mineralized zones by using gravity followed
by cyanidation on the Granada property. The recovery rates using only
gravity ranged from 25.1% to 78.0% with an average rate of 50.6%
indicating a significant amount of free gold is present.
Test details summary:
The composites were prepared by blending from 7 to 11 individual witness
core samples to represent a continuous mineralized zone from 9.1 to
16.5m long. The total composite weight ranged from 17 kg to 41 kg
The composites were then crushed to minus 10 mesh. The crushed sample
was riffled into 10 kg test charges with each composite treated in its
Each composite sample was ground in 10 kg batches in a laboratory rod
mill to approximately 80% passing 75 μm (1×10−6 of a metre.) The grind sizes for processing ranged from 52 - 102 µm,
averaging 77 µm
The mill discharge was passed through a Knelson concentrator and the
concentrate was then cleaned on a Mozley mineral separator. All of the
resulting concentrate from the Mozley separator was then fire assayed
The Mozley and Knelson tailings were then combined and submitted for
The pregnant leach solution was collected and submitted for gold (Au)
assay. The leached pulp was also sampled for gold content by fire
assay. An overall (gravity + cyanidation) gold metallurgical balance
was then performed to calculate the head grade of each composite
Tests were conducted under the supervision of Lesley Hendry, project
metallurgist at the Lakefield facilities of SGS Canada.
The comparison between the length weighted average gold grade from the
original uncapped assay results versus SGS Total gold on an individual
basis shows some variance as expected. This variance is directly
related to the nature of the gold mineralization at Granada. The
weighted average of the original composite data is 1.16 g/t while the
average of the total gold test is 0.94 g/t. When the capping of an
individual Fire Assay result of 36.94 g/t in composite #14 to 10 g/t is
applied, the original average grade is 1.05g/t.
For complete details of the Total Gold metallurgical tests including
accompanying tables, please go to the web site at www.GoldBullionDevelopmentCorp.com
Claude Duplessis, Eng. is acting as the qualified person (Q.P.) for Gold
Bullion Development Corp. in compliance with National Instrument 43-101
and has reviewed the technical contents of and data included in this
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.
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 or
Progressive Investor Relations (Canada) at (604) 689-2881 or via email: firstname.lastname@example.org