VANCOUVER, Aug. 13, 2014 /CNW/ - Gold Bullion Development Corp. (TSXV:
GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is excited to
share advancements on the Granada Rolling Start.
Gold Bullion recently received a permit to allow trenching to more
precisely define the ideal location to begin open pit mining. The
Company will be commencing on the Mousseau Pit (Pit 4 on attached map,
the easternmost pit - this map may be subject to some modifications as
CofA recommendations are implemented) once the Certificate of
Authorization (CofA) has been received. This work is slated to be
completed within the next several weeks by a local contractor.
The Mousseau Pit has an estimated 32,144 ounces gold at a grade of 4.37
grams per tonne gold in 229,000 tonnes of ore in the Probable Reserve
Category. These newly released numbers form part of a subset of data
prepared for the PFS report released June 19, 2014 effective May 6,
2014. This pit will commence in Year 1 of the Rolling Start and will be
completed in Year 2.
In tandem with the stripping, the City of Rouyn-Noranda has also
prepared to commence logging the area covered by the proposed mining
complex. This is a mutually and financially beneficial and appreciated
arrangement for both the City and Gold Bullion as it will aid in the
preparation of the ground for initial mining.
The Company also wishes to confirm that noise-monitoring studies
required for the CofA have recently been completed and forwarded to the
Ministry evaluating the application for CofA. Although water quality
studies have been done, additional water level studies of local wells
are to be initiated in the near future. These are all ongoing studies
to comply with Ministry Guidelines, the Mining Act and community
The Granada Rolling Start has been developed by the Company as a model
to derisk the project while optimizing exploration, mining, and
processing parameters for best fit under current economic conditions.
The model is sufficiently dynamic and has been developed to anticipate
future market changes.
Additionally, Public Consultation is continuing with the communities of
Granada and Rouyn-Noranda to address their concerns in a positive and
respectful manner for the mutual benefit of all. A number of questions
and concerns have been put forward and the Company is committed to
answering and dealing with any issues while maintaining a commitment to
the environment while moving forward within the confines of legislation
and regulations mandated by both Federal and Provincial Governments.
Claude Duplessis, P. Eng., President of GoldMinds Geoservices, is
responsible for and technical information herein and has reviewed and
approved the contents of this news release. Claude Duplessis is a
Qualified Person and is independent of Gold Bullion within the meaning
of NI 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 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.
Image with caption: "General Site Layout (CNW Group/Gold Bullion Development Corp.)". Image available at: http://photos.newswire.ca/images/download/20140813_C7137_PHOTO_EN_42421.jpg
SOURCE: Gold Bullion Development Corp.
For further information:
Frank J. Basa, P. Eng., President and CEO at 1-514-397-4000