Friday 2nd December 2016

Resource Clips


Posts tagged ‘Gold Bullion Development Corp (GBB)’

From Abitibi to James Bay

November 8th, 2012

Assays reveal the lure of gold in three Quebec regions

by Greg Klein

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As one of the world’s top mining jurisdictions, Quebec provides a steady source of commodity news. ResourceClips takes a look at November 8 drill results from Eastmain Resources TSX:ER, Gold Bullion Development TSXV:GBB and Northern Superior Resources TSXV:SUP, each working a different part of the province.

With high grades and visible gold, Eastmain continues to build its Eau Claire (Clearwater) gold-tellurium project. Assays from this year’s 90-hole, 34,211-metre campaign in Quebec’s James Bay lowlands show the project advancing towards a goal of up to 2.3 million gold ounces.

Results from Eau Claire’s 850 West zone show:

  • 41.62 grams per tonne gold over 2 metres
  • (including 148 g/t gold and 173 g/t tellurium over 0.5 metres)
  • 11.04 g/t gold over 6.5 metres
  • (including 19.1 g/t gold over 3.5 metres)
  • 3.09 g/t gold over 13.5 metres
  • (including 10.1 g/t gold and 10 g/t tellurium over 3 metres)
  • 2.57 g/t gold over 15 metres
  • (including 12.6 g/t gold and 21.4 g/t tellurium over 2.5 metres)
  • 1.6 g/t gold over 24 metres
  • (including 3.89 g/t gold and 4.16 g/t tellurium over 6.5 metres)

The 450 West zone assays show:

  • 2.49 g/t gold over 18 metres
  • (including 15.3 g/t gold and 21.9 g/t tellurium over 3 metres)
  • 24 g/t gold over 1.5 metres
  • (including 67.1 g/t gold and 87.3 g/t tellurium over 0.5 metres)
  • 4.7 g/t gold over 5 metres
  • (including 9.33 g/t gold and 11 g/t tellurium over 2 metres)
Assays reveal the lure of gold in three Quebec regions

Eastmain’s 3D model showing Eau Claire’s
850 West and 450 West zones.

True widths were estimated at 100%. Down-hole depths weren’t provided but the project’s resource estimate starts at surface and extends to a depth of 900 metres. The company stated approximately half the Eau Claire deposit may have open pit potential.

Assays are pending from additional holes, as well as from four 0.5-metre samples showing more than 250 grains of visible gold and one 0.5-metre sample showing 35 grains of visible gold from the 850 West zone.

Last month’s resource update for zones 450 and 850 used a 0.5 g/t cutoff for open pit resources above 220 metres in depth and an underground cutoff of 2.5 g/t. The open pit resource showed:

  • 2.67 million tonnes grading an average 4.76 g/t for 408,000 gold ounces measured
  • 1.5 million tonnes grading an average 3.53 g/t for 170,000 gold ounces indicated
  • 2.4 million tonnes grading an average 2.5 g/t for 192,000 gold ounces inferred

The underground resource showed:

  • 145,000 tonnes grading an average 6.96 g/t for 32,000 gold ounces measured
  • 558,000 tonnes grading an average 6.12 g/t for 110,000 gold ounces indicated
  • 4.03 million tonnes grading an average 7.2 g/t for 929,000 gold ounces inferred

In a statement accompanying the November 8 assays, QP Eugene Puritch of P&E Mining Consultants said the resource grades “are not often found in this geological and geographical setting. The open pit gold grade in particular is in the order of three or four times that of which many other exploration projects have recently reported. Additionally, the underground gold grade is also in the order of 50% higher than recent comparable projects. With these high-grade resources, close proximity to custom processing facilities, a road and power, the prospect of a positive economic analysis is very encouraging.”

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Gold Bullion reports Quebec Gold Assays including 1.11 g/t over 183m

December 7th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGold Bullion Development Corp TSXV:GBB announced assay results from its Granada gold property on the Cadillac trend in northwestern Quebec. Highlights include

0.38 g/t gold over 164 metres (including 1.15 g/t over 29.5 metres)
0.33 g/t over 120 metres (including 19.86 g/t over 1.1 metres)
0.43 g/t over 228 metres (including 1.06 g/t over 71 metres)
0.38 g/t over 278 metres (including 1.46 g/t over 22.4 metres)
0.68 g/t over 65 metres (including 1 g/t over 25.5 metres)
0.47 g/t over 247.5 metres (including 1.2 g/t over 86 metres)
1.11 g/t over 183 metres (including 207.27 g/t over 0.8 metres)
0.47 g/t over 180 metres (including 1.05 g/t over 69.5 metres)
0.63 g/t over 70 metres (including 1.05 g/t over 34 metres)

The Granada gold property is located five kilometres south of Rouyn-Noranda, Quebec, in the Abitibi Greenstone Belt. Granada is a historical mine that was a producer between 1930 and 1935.

View Company Profile

Contact:
Frank J Basa
President/CEO
416.625.2342

or Roger Thomas
Director
613.292.2438

Disclaimer: Gold Bullion Development Corp is a client of OnPage Media

by Ted Niles

Gold Bullion reports Quebec Assays of 1.21 g/t Gold over 98m

September 14th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGold Bullion Development Corp TSXV:GBB announced results from its Granada Property near Rouyn-Noranda, Quebec. Highlights include 1.21 g/t gold over 98 metres (including 2.34 g/t over 29.5 metres), 0.5 g/t over 183.5 metres (including 1.12 g/t over 45.5 metres), 0.41 g/t over 220.3 metres (including 1.06 g/t over 70.9 metres), 0.4 g/t over 224.5 metres (including 0.85 g/t over 46.8 metres) and 0.47 g/t over 180.9 metres (including 53.11 g/t over 0.5 metres).

President/CEO Frank Basa tells ResourceClips.com, “We’re just drilling for structure; we’re trying to find out the extent of this mineralized envelope or zone. We still haven’t found its full extent. We’re trying to define it. We originally started with 2,800 metres; then we went to 25,000 metres, then 50,000 metres. I think we’ll just have to keep increasing the drill program until we find the extent of it. We might have a very large low-grade deposit, and I think we’ll lower the grade by design and then follow it up with a higher-grade mine going underground. This was historically a high-grade mine operating in the 1930s and 1930s, about 10 grams a tonne.

There are a lot of mines like this on the Cadillac Trend, and we worked on one when I was with Agnico-Eagle; it became the Don LaRonde—Frank Basa

“We keep on getting these high-grade zones but they’re a metre wide, a metre and a half wide. So we think these two structures called 1 and 2, trending east and west, about 60 degrees from horizontal, and another called number 5, keep on recurring. Usually these things disappear after a while and don’t reappear, but these seem to be in place for about 1.2 kilometres—actually we’re up to 1.5 kilometres on strike length right now. The width is a little over half a kilometre.

“We still haven’t found bottom to the structure,” Basa reports. “We’re down to 450 vertical. There are a lot of mines like this on the Cadillac Trend, and we worked on one when I was with Agnico-Eagle; it became the Don LaRonde. Those were near-surface, low-grade and then became very high-grade mines at depth with base-metal components. We might have the same thing. It’s kind of early to say what we have, but we are checking for copper and nickel. They both showed up in our bulk samples.

“I’ll think we’ll be finishing up our current 50,000-metre program within the next two to three weeks. Originally we didn’t think we’d have this potential for a high-grade mine at depth because usually these veins are shallow; they disappear. But one of the people at GENIVAR [Gold Bullion's geological consultant] is very good at following these structures, and it appears we might have a significantly high-grade mine at depth.”

The project’s initial resource estimate is scheduled for release this fall. “We’re debating which way to go with it,” Basa says. “Early on we did a very large bulk sample, 142,000 tonnes. Historically, they said whatever you drilled, you mined and milled 35% higher. In other words if you drilled one gram, when you mined and milled and poured a bar, you got 1.35 grams out. So we did a very large bulk sample, and it’s actually over 100% higher. It really changes the grade. You’ll see a lot of our grades are quite low. This is done by design. We controlled the grade by the width of the mineralized envelope. In other words, you could have 200 metres running 0.3 or I could bring it down to 70 metres and it’s 1.5 grams. So we thought we’d see what we can do with a lower-grade deposit and look at the economics, knowing that even half a gram when it’s mined and milled might end up being a one-gram deposit.”

He adds, “We re-did the mine’s permits; we just completed a hydrological study and a baseline study. We’re doing all kinds of site clean-up. There was a lot of stuff left from the 1930s, so should somebody wish to take this over it’ll be permitted; there’ll be a resource, and it’ll be clean.

“The project seems to be leaning towards both surface and underground mining. We did a few deep holes down to 450 vertical and we hit these zones. To consider a deep mine, we’ll need special drill rigs to go down 1,000 or 2,000 metres vertical.”

Asked whether Gold Bullion would take the mine into production, Basa replied, “If it’s very large, I don’t see it. If it’s a certain size, we do have the skill set in house to do it right now. We’ve already spoken to three separate groups last November. They came to us; I told them it’s still premature. There’s only about 100,000 metres of drilling in total. If you look at Osisko [which holds the 6.2-million-ounce Canadian Malartic Deposit 65 kilometres from Gold Bullion’s Granada Project] and Detour Lake [Detour’s 11.4-million-ounce reserve, also in the Abitibi Greenstone Belt], they did about 800,000 or 900,000 metres of drilling.

“We’re just exploring basically. We’re just having a very conservative look at what we think might be there.”

View Company Profile

Contact:
Frank J. Basa
President/CEO
416.625.2342

or Roger Thomas
Director
613.292.2438

Gold Bullion Development Corp is a Resource Clips advertiser.

by Greg Klein

Gold Bullion President Frank Basa on Quebec assays of 1.06 g/t gold over 74.4m

May 16th, 2011

“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. 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.”

Basa says that it is Gold Bullion’s intention to eventually take the project to production.

“We’re still really excited about the project. We started four years ago with 71 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.”

View Press Release Summary

View Company Profile

Gold Bullion President Frank Basa on Quebec gold assays of 0.52 g/t over 276 m

February 17th, 2011

“The property itself is an old former producing mine—there are two shafts where we are working right now. Originally we started with 71 hectares, we’re up to 11,000 hectares now and we’re still looking to add to that. It appears that multiple vein structured trending runs east west—there might be nine to 22 structures running east west. We really don’t know how wide these things are or how long or deep. That’s what we’re trying to quantify right now. The mineralization might run for quite a few kilometres trending east west.

“The unfortunate thing about this press release is that it wasn’t well delivered on our part. There’s a lot of information in it—and it is probably too technical in nature—and a lot of people didn’t interpret it accordingly. But the reality is that it is the best press release we’ve had to date. When you really look at it, what we did was quadruple our mineralization zone and we increased the potential of the zone of mineralization undergound by a factor of eight. We took the grade down to about a half a gram—we did this by design, to see if we could increase the mineralization zone. In other words, if you set the criteria for the deposit to a half gram deposit with a 0.2 g/t cut-off, 90% of the holes are within that criteria. And the average thickness of the mineralized zone is about 140 metres. So basically we’ve increased it by an order of magnitude from our original preliminary model. We lowered the grade, but by lowering the grade we also increased our ounces. The one thing that people should have noticed is that the grades tend to be controlled by the way that we mine it. In other words, if we feel that half a gram is not economical we decrease our mining width back to 70 metres, and the grade will be back to one gram. So it’s possible that we can do that.

“All [the press release] is saying is that we increased our land package. What we really did is we went from our original 300 by 600-metre preliminary block model to approximately 1.2 kilometres by 500 metres wide. And we still haven’t found the extent of it! We’ve increased everything with this press release and it should have been received in a positive way.

“In 2011 we’re going to keep on drilling. We’re going to step-out two kilometres from where we are now. We’re going to look at another target. We’ll try to finish off this 50,000-metre program; I think we’ll extend it, because we still haven’t found the extension of our structures. We’ll probably produce, mid-year, a preliminary 43-101. We originally looked at the one gram deposit, then we found that people were actually making money at a half a gram, and we thought we could lower the grade to half a gram to see what kind of ounces we’d get. By lowering the grade we actually increase the amount of ounces we can mine. We’re still looking at various things, but basically we’ll carry on drilling for structure and we’ll see how big this structure is.

“Given the size of this thing there are only about three mining companies in the world that could put it in production and, realistically, we’re not one of them.”

View Company Profile

Gold Bullion reports Quebec gold assays up to 0.52 g/t over 276m

February 16th, 2011

Gold Bullion Development Corp TSXV:GBB announced results from its Granada Gold Property in Quebec. Assays include 0.51 g/t gold over 228 metres (including 45.8 g/t over 1 metre), 0.62 g/t over 135.1 metres (including 54.98 g/t over 1 metre), 0.46 g/t over 118.5 metres (including 15.14 g/t over 1.5 metres), 1.9 g/t over 9 metres, 0.52 g/t over 276 metres (including 39.9 g/t over 1.5 metres), 0.41 g/t over 165.3 metres (including 30.12 g/t over 0.5 metres) and 0.93 g/t over 230 metres (including 162.75 g/t over 1.1 metres).

President/CEO Frank Basa tells ResourceClips.com, “The property itself is an old former producing mine—there are two shafts where we are working right now. Originally we started with 71 hectares, we’re up to 11,000 hectares now and we’re still looking to add to that. It appears that multiple vein structured trending runs east west—there might be nine to 22 structures running east west. We really don’t know how wide these things are or how long or deep. That’s what we’re trying to quantify right now. The mineralization might run for quite a few kilometres trending east west.

“The unfortunate thing about this press release is that it wasn’t well delivered on our part,” continues Basa. “There’s a lot of information in it—and it is probably too technical in nature—and a lot of people didn’t interpret it accordingly. But the reality is that it is the best press release we’ve had to date. When you really look at it, what we did was quadruple our mineralization zone and we increased the potential of the zone of mineralization undergound by a factor of eight. We took the grade down to about a half a gram—we did this by design, to see if we could increase the mineralization zone. In other words, if you set the criteria for the deposit to a half gram deposit with a 0.2 g/t cut-off, 90% of the holes are within that criteria. And the average thickness of the mineralized zone is about 140 metres. So basically we’ve increased it by an order of magnitude from our original preliminary model. We lowered the grade, but by lowering the grade we also increased our ounces. The one thing that people should have noticed is that the grades tend to be controlled by the way that we mine it. In other words, if we feel that half a gram is not economical we decrease our mining width back to 70 metres, and the grade will be back to one gram. So it’s possible that we can do that.

“All [the press release] is saying is that we increased our land package. What we really did is we went from our original 300 by 600-metre preliminary block model to approximately 1.2 kilometres by 500 metres wide. And we still haven’t found the extent of it! We’ve increased everything with this press release and it should have been received in a positive way.

“In 2011 we’re going to keep on drilling. We’re going to step-out two kilometres from where we are now. We’re going to look at another target. We’ll try to finish off this 50,000-metre program; I think we’ll extend it, because we still haven’t found the extension of our structures. We’ll probably produce, mid-year, a preliminary 43-101. We originally looked at the one gram deposit, then we found that people were actually making money at a half a gram, and we thought we could lower the grade to half a gram to see what kind of ounces we’d get. By lowering the grade we actually increase the amount of ounces we can mine. We’re still looking at various things, but basically we’ll carry on drilling for structure and we’ll see how big this structure is.

Basa concludes, “Given the size of this thing there are only about three mining companies in the world that could put it in production and, realistically, we’re not one of them.”

View Company Profile

Contact:
Frank J. Basa
President/CEO
416.625.2342

or Roger Thomas
Director
613.292.2438

by Ted Niles