Gold Bullion Expands Long Bars Zone Eastern Extensionadmin
Gold Bullion Development Corp. report that Phase 2 drilling continues to expand the LONG Bars Zone Eastern Extension mineralized area at its 100% owned Granada Gold Property in northwestern Quebec. Gold Bullion is aggressively exploring Granada, located five kilometers south of Rouyn-Noranda, as a potential near-surface, open-pit deposit along the prolific “Cadillac Trend” where numerous multi-million ounce deposits have been discovered and developed.
The LONG Bars Zone Eastern Extension is outside the LONG Bars Zone Preliminary Block Model where a significant potential non-compliant resource was detailed in the Company’s April 22, 2010, news release.
A total of 41 Phase 2 holes have now been completed in the Eastern Extension covering an area measuring 450 metres north-south and 450 metres east-west. Over the last few weeks GENIVAR, the Company’s geological consultant, has had the Eastern Extension drill rig operating mostly in between sections previously drilled to verify their continuity. Large alteration and intrusive zones have been identified in holes north, south, east and west of Phase 1 discovery hole GR-10-17. Visible gold, associated with pyrite and arsenopyrite, has also been observed in feldspar porphyry intrusions particularly in the northern half of the LONG Bars Zone Eastern Extension.
Infill drilling continues within the Preliminary Block Model where 43 Phase 2 holes have been completed (initial assays were released July 29, 2010, and included an interval of 1.07 g/t Au over 123.50 metres in GR-10-33).
A total of 17,000 metres of Phase 2 drilling, 85% of the planned program, has now been completed throughout the LONG Bars Zone (Preliminary Block Model plus the Eastern Extension). Mineralization remains open in all directions.