VANCOUVER,
Feb. 29, 2012 /PRNewswire/ - Gold
Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) is pleased to
announce the release of 29 composite sample results from the SGS
Lakefield Gold Metallurgical Testing Group. These results are
to be used in the Total gold determination program that SGS Geostat
is working on for the Granada Gold
Property located on the prolific Cadillac trend, south of Rouyn-Noranda, Quebec, Canada.
The purpose of the test was to determine the
head grades and recoveries of the various composites in order to
compare them with the individual assay results. Mr. Claude
Duplessis, Eng., the SGS Geostat Q.P., selected 29 different
composite samples from 29 different mineralized zones at various
depths with variable grades. The test work consisted of a total
gold metallurgical balance that resulted in overall gold recovery
data.
Overall recovery rates averaged 94.1% ranging
from 87.1% to 98.5%. These numbers demonstrate that even at low
grades, superior recovery of gold can be achieved within the
mineralized zones by using gravity followed by cyanidation on the
Granada property. The recovery
rates using only gravity ranged from 25.1% to 78.0% with an average
rate of 50.6% indicating a significant amount of free gold is
present.
Test details summary:
- The composites were prepared by blending from 7 to 11
individual witness core samples to represent a continuous
mineralized zone from 9.1 to 16.5m long. The total composite weight
ranged from 17 kg to 41 kg
- The composites were then crushed to minus 10 mesh. The crushed
sample was riffled into 10 kg test charges with each composite
treated in its entirety
- Each composite sample was ground in 10 kg batches in a
laboratory rod mill to approximately 80% passing 75 μm
(1×10−6 of a metre.) The grind sizes for processing
ranged from 52 - 102 µm, averaging 77 µm
- The mill discharge was passed through a Knelson concentrator
and the concentrate was then cleaned on a Mozley mineral separator.
All of the resulting concentrate from the Mozley separator was then
fire assayed for gold
- The Mozley and Knelson tailings were then combined and
submitted for cyanide leaching
- The pregnant leach solution was collected and submitted for
gold (Au) assay. The leached pulp was also sampled for gold content
by fire assay. An overall (gravity + cyanidation) gold
metallurgical balance was then performed to calculate the head
grade of each composite
Tests were conducted under the supervision of
Lesley Hendry, project metallurgist
at the Lakefield facilities of SGS
Canada.
The comparison between the length weighted
average gold grade from the original uncapped assay results versus
SGS Total gold on an individual basis shows some variance as
expected. This variance is directly related to the nature of
the gold mineralization at Granada. The weighted average of the original
composite data is 1.16 g/t while the average of the total gold test
is 0.94 g/t. When the capping of an individual Fire Assay result of
36.94 g/t in composite #14 to 10 g/t is applied, the original
average grade is 1.05g/t.
For complete details of the Total Gold
metallurgical tests including accompanying tables, please go to the
web site at www.GoldBullionDevelopmentCorp.com
Claude Duplessis, Eng. is acting as the
qualified person (Q.P.) for Gold Bullion Development Corp. in
compliance with National Instrument 43-101 and has reviewed the
technical contents of and data included in this press release.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX
Venture-listed junior natural resource company focusing on the
exploration and development of its Granada Property near
Rouyn-Noranda, Québec.
Additional information on the company's Granada gold property is available by visiting
their website at www.GoldBullionDevelopmentCorp.com and on
SEDAR.com.
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This news release may
contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking
statements address future events and conditions and therefore,
involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.
SOURCE Gold Bullion Development Corp.