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Gold Bullion Development and Takara Resources Announce Plans for Geophysical Survey at The Castle Silver-Cobalt-Gold Property Near Kirkland Lake, Ontario
(via Thenewswire.ca) October 12, 2016 / TheNewswire / Gold Bullion Development Corp. ...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Gold Bullion Development and Takara Resources Announce Plans for Geophysical Survey at The Castle Silver-Cobalt-Gold Property Near Kirkland Lake, Ontario(via Thenewswire.ca)\n \n \nOctober 12, 2016 / TheNewswire / Gold Bullion Development Corp. (TSX-V: GBB) (OTCPINK: GBBFF) (Frankfurt B6D) (\"Gold Bullion\") and Takara Resources Inc. (TSX.V: TKK) (\"Takara\") today jointly announced that they plan to commence a geophysical survey this fall at the 3,300 hectare Castle Silver Mine property, which is 75 km southwest of Kirkland Lake, Ontario and is one of the most advanced exploration properties in the Cobalt Camp targeting high-grade silver, cobalt and gold. \n\n\n \nThe survey will test an area outside and immediately east of the past producing areas where an estimated 50 million ounces of silver was produced during the 1900s mostly from the Miller Lake O'Brien, Castle 3 and Capitol mines. In addition, approximately 300,000 pounds of cobalt was produced at the Castle Silver property in the early 1900s and the recent discovery of gold and copper mineralization adds significantly to the attractiveness of conducting further exploration on the property. \n\n\n \nThe survey will include an area of the property known as the Castle Golden Corridor Zone, where surface gold was initially discovered through a train of sulphide-rich boulders extending from the north shore of Miller Lake. The Zone is part of a distinct east-west regional gold trend that stretches for at least 150 km, cutting through the Castle Property and the Gowganda mining camp, which historically were only explored for high-grade silver. Gold Bullion purchased a 50% interest in this Golden Corridor Zone (see news release issued June 30, 2016).\n\n\n \nThe survey area can be viewed on the map below. The map can also be accessed via the following link: http://www.goldbulliondevelopmentcorp.com/documents/TKK_Oct10_2016map.pdf\n\n\n \nThe geophysical survey involves induced polarization (IP) over eight lines of approximately 1.8 km each and is aimed at identifying IP anomalies typical of gold and silver mineralization. Follow-up Mobile Metals Ion (MMI) sampling will be used to prioritize IP anomalies for exploration drilling.\n\n\n \nThe historic silver production was from the upper two-thirds of a gabbroic intrusive; a cone dike seen in this vicinity as an undulating sill a...