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 Company expectations.
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