PRESENTATION OF GOLD BULLION DEVELOPMENT
Introduction:
Gold Bullion Development is a Canadian company located at Quebec with its main property Granada Gold Mine in the northwestern Quebec area near Royun-Noranda, a mining community nearby. Granada property lies immediate at the Cadillac Trend, a fault where over 160 Moz have been mined on or nearby. Osiskos Malarctic deposit lies only 65 kilometers to the east from Granada property.
Granada Overview
Staff:
Frank J. Basa, Chairman, Chief Executive Officer, President, Vice President of Exploration and Chairman of Audit Committee. “Mr. Frank J. Basa, P.Eng. serves as the Chairman of the Board of Gold Bullion Development Corp. (formerly, Exploration of Consolidated Big Valley Resources Inc.) and has been its Chief Executive Officer and President since June 18, 2004. Mr. Basa serves as the President of President of Grupo Moje Ltd and Mineral Recovery Management Services Corp. Mr. Basa has over 28 years global experience in gold mining and development as a Professional Hydrometallurgical Engineer.”
Roger Thomas, Director of communication, Member of the Board. “Roger Thomas has been Director of Gold Bullion Development Corp., since October 2008. Mr. Thomas has 30 very productive years in the investment industry and also has the telecommunications industry with a strong engineering background in electronics. He has BA in economics from Carleton University.”
Thomas P. Devlin, Chief financial Director. “Thomas P. Devlin has been Chief Financial Officer of Bullion Development Corp. since July 3 2009. Mr. Devlin has over 35 years experience in the investment and mineral exploration industries. He served as a Director of Gold Bullion Development Corp.”
Jacques F. Monette, Director and Member of Audit Committee. “Mr. Jacques F. Monette, P. Eng serves as Global Director of Health and Safety at Excel Gold Mining Inc. Mr. Monette is an Advisor to Wabi. He serves as Vice-President of Operations of CMAC Mining Group, a contract mining company. He is a Staff Coordinator for Sanitation Canada and Shaft Project Coordinator of Cementation Canada Inc. He serves as Operations Manager for Moran Mining and Tunneling. Mr. Monette has been engaged in every facet of underground mining for more … than 40 years and is considered in the industry to be one of the world’s leading practical experts on mining methods and productivity. He joined Landdrill as its Vice President-Marketing. Mr. Monette served as Vice President of Business Development of Wabi Development Corp. He served as Area Manager for J.S. Redpath Group and Dynatec Mining Corporation. He has been a Director of Excel Gold Mining Inc. since September 2010. Mr. Monette has been a Director of Fletcher Nickel Inc. since April 30, 2007 and of Gold Bullion Development Corp. since July 7, 2008.”
G. Leonard Johnson, Director and Member of Audit Committee. “G. Leonard Johnson has been Director of Gold Bullion Development Corp. since January 30, 2009. Dr. Johnson is an Arctic Geophyicist with 40 years of professional experience in the marine realm. Dr. Johnson has authored over 200 professional papers, leader Office of Naval Research geophysics program in the 1990s, President Board of Directors of American Friends of UNIS (University Center, Svalbard), Organizer for IPY (International Polar Year), Georg Von Neumayer award … 2001, Nansen Polar Bear Award, 2004.”
Information above from BusinessWeek.com.
Exploration:
GBB has drilled since december 2009 at Granada property, which contains a total of 4900 hectare of land. Earlier there was an old mine at Granada that were shut down in 1935 because of heavy fire that destroyed all ground surface structures. Between 1922 and 1935 three open pits and underground structures mined with high grade veins beeing found and mined. The mine ore averaged 9,5 grams/tonne which was high at that time and is still high grade now. The ore that could not be processed with profit, was piled at the immediate north of the two larger open pits in the south of Preliminary Block Model. There is now approximately 250.000 m3 of ore containing 1,75 grams/tonne of gold and it´s called a “waste pile”…
Granada Drill Map
Preliminary Block Model was the first target to be drilled between december 2009 and february 2010, which was commenced with a phase 1 drill program of approximately 2.500 meters of drill core. This was followed by another drill program in May, which was of 20.000 meters, phase 2. Phase 2 was commenced both at Preliminary Block Model and the Eastern Extension (these two areas together are called LONG Bars Zone 1), which is the area to the east of Preliminary Block Model. GBB has found some great structures in Eastern Extension which contains from 0,2-4,05 grams/tonne, but the most cores are still at the labs for analyzing. GENIVAR, the techincal engineering firm hired by GBB is doing an incredible work on sight and hits structure in every hole they drill. They have also reported heavy mineralisation and even visual gold in several of the cores in Eastern Extension which means there are some high grades at sight. Phase 2 drill program was prolonged with an additional 5.000 meters in the south of Eastern Extension because of heavy interest initiated by GENIVAR. Phase 3 has now being commenced and 5.000 meters are done already, but 45.000 meters are still in the pipe.
In 2007 GBB made an effort when mining a bulk sample of 140.000 tonnes, where 30.000 tonnes was grinded in an on-site mill. The results were good, averaging 1,62 grams/tonne, which could be a helpful number when going to the banks and presenting the case.
The coming events are probably approximately 20.000+ meters of phase 2 drilling that needs to be presented before new years eve. Phase 3 will certainly be interesting regarding the visuals.
Granada will be all about volume, low grade ore and open pit mining. Very profitable at these grades and with 93-97 percent extraction of the gold using affordable gravitation methods to extract the gold from the grinded powder, down to grades of 0,4 grams/tonne (this means that almost every rock at Granada can be processed with profit!). Preliminary Block Model contains at least 2,5 Moz, probably the double at depth and Eastern Extension is larger than Preliminary and is showing the same grades over long core lenghts. There are also great exploration opportunities because of the strike lenght of 2 kilometers to the next interesting area, LONG Bars Zone 2, which contains gold determined by both drilling and small bulk samples before. LONG Bars Zone 1 is open in all directions, the ore body is not isolated in any direction. If we are lucky we are going to be the next 10+ Moz deposit in the Cadillac Trend. The right people, the right area, the right time…
Short facts:
As of 18th of november 2010
Number of shares: 148.994.312
Fully diluted: 182.000.000+
Market cap: 98,36 MCAD
Traded since: 31st of january 2007
All time high: 79 cents, by 8th of september 2010
Average volume 10 days: 1,6 millions
Inside ownership: 13 percent
Working capital: 10+ MCAD
Summary:
LONG Bars Zone 1 is the first target to be explored by GBB, consisting of Preliminary Block Model which now contains approximately 2,5 Moz of gold, non 43-101 compliant yet. The other area in LONG Bars Zone 1 is Eastern Extension that is growing by the day, now larger than Preliminary in surface… GBB has every reason to drill as fast as they can, because Granada has earned the title “area with blue skye potential”…
Links:
Gold Bullion Development – http://goldbulliondevelopmentcorp.com
Gold for everyone 