QUEBEC – Vancouver-based Gold Bullion Development Corp. continues to advance its Granada gold property 5 km south of Rouyn-Noranda. The company is focusing on grades above 2 g/t Au for the upcoming pre-feasibility study and expects the economic fundamentals to be better than those of the preliminary economic assessment.
Gold Bullion continues to drill at Granada in the hope of increasing the resource. The numbers currently stand at 1.6 million oz in the measured and indicated category, plus 1.0 million oz in the inferred category using a cut-off of 0.4 g/t. The deposit is open to the east, west north and at depth.
The former Granada mine went into production in 1930, but was mothballed in 1935 when a fire razed the surface structures. The property was idle until 2000, when vein No.2 produced 2,200 oz Au. Gold Bullion acquired the property in 2006. Exploration it conducted also found promising mineralization to the north and east of the old mine site.
Further information about the Granada project is available at GoldBullionDevelopmentCorp.com.