Gold Bullion Development has released the NI 43-101 Technical Reportdated May 17, 2012 for its Granada Gold Project, effective April 2, 2012.The NI 43-101 is a national instrument in Canada that dictates the guidelines for disclosure of information on mining or exploration projects for publishing on stock exchanges for the benefit of investors.
The released report which is titled "Granada Gold Project Resource Estimate, Rouyn-Noranda, Abitibi, QC"can be accessed from the company’s website, and from the System for Electronic Document Analysis and Retrieval.
In compliance with NI 43-101 defined eligibility criteria for preparation of the Technical reports, Gold Bullion employed the services of SGS Canada Inc. The authors of the report include Professional Engineers Gilbert Rousseau, Claude Duplessis, Jonathan Gagné and Karina Sarabia, GIT.
Gold Bullion has carried out drilling of only a small area as a result of which the mining potential of the Granada property is largely undetermined. However, the disclosure report prepared by SGS backs Gold Bullion’s decision to carry out further drilling in the property on the assumption that similarity in the nature of factors determining the geologic formations at the Granada property with other properties of known mineralization is sufficient indication of exploration potential. Some of the recommendations made for further exploration include drilling to depth adjacent to the current drilling in order to establish mineralization at that depth, augmentation of drilling to provide better assessment of available resources and drilling to check for mineralization beyond the footwall.
Source: http://www.goldbulliondevelopmentcorp.com
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