Business
Gold Bullion Announces Filing of Pre-Feasibility Study (PFS) Phase 1 Open Pit and Filing of the Request for Certificate of Authorization for its Granada Gold Project
VANCOUVER , June 19, 2014 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: G...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"\n\n\nVANCOUVER, June 19, 2014 /CNW/ - Gold Bullion Development Corp. (TSXV:\n GBB) (OTCPINK: GBBFF) (the \"Company\" or \"Gold Bullion\") announces it\n has received the Preliminary Feasibility Study \"PFS\" for the \"Rolling\n Start\" at Granada. The results from the PFS demonstrate the economic\n viability of the Granada Mine Rolling Start based on the mineral\n reserves derived from resources that were outlined by SGS Canada Inc.,\n as previously disclosed in the Company's news release dated May 6th,\n 2014.\n\n\nThe PFS highlights the fact that significant amounts of gold resources\n are present. With the next phase of drilling these additional resources\n have the potential to be converted to reserves and as such there\n remains excellent exploration likelihood to further expand the size of\n the existing mineral inventory.\n\n\nThe PFS Phase 1 \"Rolling Start\" Open Pit plan for gold production also\n provides a more conservative estimate of profitability than the\n Preliminary Economic Assessment (PEA) due to the exclusion of the\n inferred resources in conjunction with the use of a higher cut-off\n grade.  As such, the PFS provides estimates that have a lower risk,\n which is a key element in securing financing for the \"Rolling Start\"\n even with less than favorable market conditions.\n\n\nThe Technical Report dated June 19, 2014 is available through the\n Internet under the Company's profile on the Canadian System for\n Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on the Company's website at www.goldbulliondevelopmentcorp.com.\n\n\nFrank J. Basa, President and Chief Executive Officer, \"Progress at\n Granada thus far has been pragmatic and steady which, in hindsight, has\n been very appropriate for the overall market conditions of the past few\n years.  The Company is now on the cusp of gold production at higher\n grades with plans for resource expansion and for ramping up gold\n production in the upcoming development phases at Granada as we deliver\n on the goal of creating shareholder value.\"\n\n\nThe delivery of the \"Rolling Start\" Preliminary Feasibility Study\n completes the first stage of Gold Bullion's continuous development\n program. The Company has already begun the second stage of property\n development with the intention of becoming a 100,000-ounce per year\n gold p...