and the interview with Frank Basa, the 43-101 should be out this summer.

Gold Bullion Development Corp TSXV:GBB announced results from its Granada Property in northwestern Quebec. Highlights include 0.38 g/t gold over 279.6 metres (including 1.06 g/t over 74.4 metres), 0.35 g/t over 363 metres, (including 1.36 g/t over 80 metres), 0.38 g/t over 279.6 metres (including 1.06 g/t over 74.4 metres), 0.62 g/t over 71.2 metres (including 2.57 g/t over 16 metres) and 0.59 g/t over 28 metres (including 0.65 g/t over 20.3 metres).

President/CEO Frank Basa tells ResourceClips.com, “We picked up a lot of ground in the area, and what we’re trying to find out right now is the extent of the mineralization on the ground. All we’re doing is basically drilling from structure. We still haven’t found the extent of the mineralization going north, east and at depth. We’re not going west yet. We only have two drill rigs, and that’s enough for us right now to see which way we should be going in those two directions.

“The assays are pretty good. We keep on getting these high-grade zones, which to us confirms what the old-timers were doing in the 1930s and 1940s. They did a lot of high-grade mining, and some of the grades they had from underground were quite spectacular. We seem to be hitting these. We’re hitting them from way off, where we thought there wouldn’t be anything. Combined with this low-grade mineralization, we’re still getting in the one-gram range over 80 metres, 100 metres, 120 metres. Which to us is encouraging.

“So we have a long way to go. What we have also done is move one of our drill rigs about two kilometres away further east, to an extension of our present mineralization. There was a mine there in the 1930s and 1940s where they took some very high-grade material. We want to see if that’s the same material, the same mineralization. Right now we’re just at a few holes. We’re going to pull the rig off there and put it back on the zone where we are now, look at the data, and if it looks good we’ll go back there and keep drilling.

“We’ll try to get a preliminary resource estimate for the property sometime mid-year 2011,” continues Basa. “We might go through a few of these resource estimates because the land package is so big, and I don’t think we can do a resource estimate to cover the whole ground in this short time frame. The plan, eventually, is for Gold Bullion to take the project to production.

“We’re still really excited about the project. We started four years ago with 7,100 hectares and now we’re up to 11,000 hectares. We keep on getting wider widths, higher grades, and we still haven’t found the full strike length. We originally thought it was only 600 metres long, but it’s about 1.2 kilometres long now. We thought it was only about 300 metres wide, but it’s about half a kilometre wide now. And we still haven’t found depth. So we’re still excited. We’re still trying to find the extent of this.”

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Contact:
Frank J. Basa
President/CEO
416.625.2342

by Greg Klein

This article was posted by Kevin Michael Grace on Friday, May 13th, 2011 at 9:13 am.