Business
Gold Bullion Announces Plans for a New Exploration Program Targeting a Signifcant Expansion of the Granada Gold Deposit
(via Thenewswire.ca) September 8, 2016 / TheNewswire / Gold Bullion Development Corp. ...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Gold Bullion Announces Plans for a New Exploration Program Targeting a Signifcant Expansion of the Granada Gold Deposit(via Thenewswire.ca)\n \n \nSeptember 8, 2016 / TheNewswire / Gold Bullion Development Corp. (TSX-V: GBB) (OTCPINK: GBBFF) (Frankfurt B6D) (the \"Company\" or \"Gold Bullion\") today announced that it will begin diamond drilling at its Granada gold property during September 2016 as part of a new exploration program which is aimed at expanding its gold mineral resources near surface. The program will focus on several high-grade targets in the unexplored part of the property and is expected to continue over a two-to-three-year period.\n\n \n \nThe first two drill holes will target the Aukeko West and Pontiac vein systems previously identified in historical maps but which so far haven't been drilled by Gold Bullion. The veins are located in the western bound of the Aukeko Zone, about 500 metres west of the historical Aukeko shaft and 2,000 metres east of the historical Granada shafts.\n\n \n \nThe Company's current plans include drilling another nine holes in three other locations that have not been drilled before. Three of the holes are scheduled to intersect the Syncline vein where a historical grab sample in 1992 averaged 0.357 ounces (11.1 grams) per tonne, four holes are scheduled to drill test a vein extension under the orphan tailings and two holes are scheduled to verify a possible north-east extension of the GR-10-73 vein intersection. Drilling in this first phase of the program is expected to total approximately 2,500 metres and be completed this year. Results will be disclosed once they are received and validated. \n\n \n \nThe planned drilling locations can be viewed on two maps below. The maps can also be accessed via the following links: exploration map 1; exploration map 2\n\n \n \n \"Gold Bullion actively explored the Granada gold property from 2009 to 2014 but we only drilled 20% of the potential vein structure, leaving 80% still unexplored and the deposit open in all directions and at depth. With market conditions improving, we believe the time is right for the Company to initiate another exploration program which could increase its mineral resources on the property,\" said Frank Basa, President and Chief Executive Officer.\n\n \n \nBased on almost 90,000 metres of drilling, the NI 43-101 estimate...