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Gold Bullion clarifies disclosure following BCSC review
VANCOUVER , Aug. 21, 2014 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: ...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"\n\nVANCOUVER, Aug. 21, 2014 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the \"Company\" or \"Gold Bullion\") announces that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure. The Company's previous disclosure on its website (video, slides and corporate presentations) included information relating to the Granada Gold Property that may be misleading or contrary to the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (\"NI 43-101\") as follows: \n\nNon-Compliant Exploration Targets\n\nThe Company's press release dated May 6th, 2014 disclosed drill-defined targets to the north of the LONG Bars Zone aimed at corroborating earlier drill data that outlined a potential relating to its Granada Gold Property.  Also, on Slides 19 and 20 of the June 2014 Corporate Presentation a target was disclosed in a format which is not compliant to NI 43-101.  The Company now clarifies the disclosure.\n\nThe potential referred to in the press release of May 6th 2014 (originally press released on November 26th 2012) and the statement in the June 2014 Corporate Presentation should have read:\n\nPOTENTIAL QUANTITY AND GRADE RANGES (1)\n\n\n\n\nZone\n\n\nMetric Tonnes (Million)\n\n\nGold grade (g/t)\n\n\n\nUG extension West\n\n\n7.4 to 11.1\n\n\n3.40 to 4.70\n\n\n\nUG extension East\n\n\n2.2 to 3.3\n\n\n3.20 to 4.30\n\n\n\nTotal\n\n\n9.6 to 14.4\n\n\n3.35 to 4.61\n\n\n\n\n\n\n\n(1) \n\n\nThe potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. \n\nThe potential stated above is based on projections within the mineralized plan of two and three mineralized zones of 3 meters true width on the west and east side of the deep hole program under highly drilled surface mineralization.\n\nAdditionally, on Slide 3 of the Granada Slide Show, and in the February 13th, 2012 Corporate Video (the \"Video\"), the Company disclosed a \"potential (non-compliant) resource. The Company retracts the disclosure of total metals ounces targets as it is prohibited under NI-43-101. During the \"Video\", the narrator stated total metal ounces re...