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gold bullion development cor (GBB) Snapshot

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308.9M
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gold bullion development cor (GBB) Details

Gold Bullion Development Corp. operates as a mining and exploration company with gold and silver properties in Quebec and Ontario. It focuses on the development and continued exploration of the Granada Property in the heart of the Abitibi Greenstone Belt and along the prolific Cadillac Trend. Gold Bullion Development Corp. was formerly known as Consolidated Big Valley Resources, Inc. and changed its name to Gold Bullion Development Corp. in January 2007. The company was incorporated in 1985 and is headquartered in Montreal, Canada.

gold bullion development cor (GBB) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: --
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

gold bullion development cor (GBB) Key Developments

Gold Bullion Development Corp. Announces Start of 2015 Phase 1 Exploration in the Prolific Long Bars Zone of the Granada Gold Property

Gold Bullion Development Corp. announced the start of 2015 Phase 1 exploration in the prolific LONG Bars Zone of the Granada Gold Property. Meanwhile, historical data from over 400 drill holes is in the final stages of being integrated into a new resource model for this important project adjacent to the historical mining community of Rouyn-Noranda, Quebec. Highlights of current exploration developments: Trenching is being carried out over strategic areas immediately west and up to 2 km east of the planned high-grade rolling production start area; Trenching is designed to demonstrate continuity and extent of mineralization while also defining potential new high-priority drill targets; Geochemical water sampling suggests mineralization in this emerging mining camp may extend further west than previously thought; and Management is dually focused on the planned rolling production start, with 25 of the 26 permits received, and upgrading the existing resource estimate from November 2012 using a 1.0 g/t Au cut-off grade. Gold Bullion continues to target higher-grade mineralization in a LONG Bars Zone that stretches up to 8 km east-west. Numerous promising areas, especially extending laterally and to the north, have yet to be systematically explored or require follow-up work, including two corridors of mineralization leading from the planned initial high-grade starter pit area toward the west where a NNE deformation zone appears to be an important structural feature. The mesothermal structurally controlled vein-type deposit at the 60 sq. km Granada Property remains open in all directions. Only minimal drilling below the 330-meter vertical mark has occurred thus far at Granada. Initial deep drill holes in a 2012 test confirmed that gold mineralization in the LONG Bars Zone continues to a vertical depth of at least 1 km. Currently, another company on the Cadillac Trend is contemplating mining below a vertical depth of 3 km. Deposits in this region tend to have deep high-grade roots which can significantly extend the life of a mine well past early projections. Additionally, the Company is confident that once Granada is in production, silver credits may become an important factor at this mine. Historical reports for Granada from the Royal Canadian Mint show that for every 100 oz. of gold refined, 18 oz. of silver was produced.

Gold Bullion Development Corp. Discovers New Gold and Copper Occurrence on Its Castle Mine Property

Gold Bullion Development Corp. discovered a new mineral occurrence by following a boulder train to the new EXTENSION 7929 on its Castle Mine property. Initial sampling returned gold grades of 1.32 g/t and 1.25 g/t with copper values up to 1.032%. Trenching and channel sampling is ongoing. The new EXTENSION 7929 is situated on the Company's Castle Mine Property located in Haultain and Nicol Townships in northern Ontario within the historic Gowganda silver mining camp. Comprising 3,252 hectares, including the historic former silver producing Castle Mine, the Company has established a fully integrated exploration camp with diesel generated power on the property that is accessible year around by paved and gravel roads. Work thus far on the EXTENSION 7929 has identified at least one source area related to distinct boulder trains of strongly altered, sulphide-rich, rusty, angular boulders. Initial impressions from limited preliminary stripping suggest strong gold and copper mineralization potential. Two distinct structural zones have been identified, one trending N66°E and the other N154°E with both carrying elevated gold and copper values. Sample L42028, a grab sample of seemingly unaltered host rock with 3.0cm quartz vein, returned 1.32g/t Au. A small trenching program was initiated on the EXTENSION 7929 this past November. Trench D1 was dug 100m north of Miller Lake based on an earlier grab sample grading 0.67g/t Au from a 0.5cm vertical quartz vein. Once trenched, a more substantial exposure revealed a one-metre wide, vertical, intense foliation zone trending 154 Az with prominent vertical quartz veins up to 16 cm in width. The host rock on both sides of the quartz vein zone shows significant Fe-carbonate alteration, silicification and felspathic alteration with a stockwork of 0.5-2.0 cm quartz veining and mineralized with pyrite. Channel sampling in Trench D1 produced a 0.83 m (3.0 kg) channel sample across the zone assaying 1.25 g/t Au. Trench C1 was dug 180m north of Miller Lake approximately 100m ENE of Trench D1. Trenching and channel sampling have been completed on Trench C1 exposing quartz veins, with pyrite and chalcopyrite mineralization in highly altered rocks including banded green carbonate, feldspar porphyry, and possibly mafic (red altered) syenite. The strong alteration persists the entire length of the 29m long trench across the vein zone. Grab samples from this trench have returned assays of up to 0.37 g/t Au with one sample assaying 0.26 g/t Au and 1.032 % Cu. Of significance is that this boulder train of altered, mineralized boulders extends beyond the trenches to the north indicating the potential for other similarly altered zones north of the current trenching.

Gold Bullion Development Corp. Announces Receipt of Authorization for Locating Rolling Start Mining Waste

Gold Bullion Development Corp. announced the receipt of one of the last two outstanding permits required prior to commencing gold mining within the context of the Rolling Start PFS dated May 6, 2014 at the Granada gold property. Authorization to locate barren, mining waste rock on Crown land adjacent to the Granada mine site was received from MERN, and was granted in accordance with the mining leases in place at Granada. This authorization brings the Rolling Start to gold production one step closer with the Certificate of Authorization being processed by the MDDELCC, the only outstanding permit yet to be granted. The technical team is continuing to prioritize correspondence with the Ministry in answering all questions posed with respect to the C of A. Included within the submission of responses to the MDDELCC questions on the C of A is a proposal to add a lined containment facility for the orphan tailings and the historical tailings within Pit #1. The company has reprocessed historic waste rock for reuse as aggregate and sold it to local contractors with proceeds going to a local charity. Some waste rock was utilized to upgrade old logging roads that were being used as snowmobile trails. The company used sections of these existing trails as temporary drill roads which minimized the environmental impact for mining related activities. Any disruptions to the snow mobile trails were subsequently repaired as the drill roads were no longer needed. The company recently entered into a three-year program with the local snowmobile club and plans to donate funds towards the development of a cohabitation mandate that will facilitate the use of mining lands for recreational activities. In keeping with that mandate, the company is taking a long range view as to what the project can contribute back once mining is completed.

 

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