7:45 am Pacific
Gold Bullion Development (GBB, TSX-V) was halted shortly after the open this morning with news coming out just moments ago, at 7:30 am Pacific. We are currently reviewing the release and hoping to contact Frank Basa for an interview as soon as possible.
Gold Bullion has made a major breakthrough in the LONG Bars Zone Eastern Extension with Hole #55, collared 88 metres northwest of Phase 1 Discovery Hole #17, intersecting 1.69 g/t Au over 116 metres (between 86.64 and 202.50 metres).
Hole #55 is the best yet in the Eastern Extension and even much better than #17 which returned 123.5 metres grading 1.07 g/t Au.
What we’re most impressed about is the huge intersection of mineable grade that GBB has come up with here – 356.60 metres grading 0.60 g/t Au. The hole was drilled at a 65 degree angle to a vertical depth of 175 metres, so there’s a good chance this is very close to true width. That’s the type of intersection that makes a mine.
Keep in mind, as well, that with the “upgrading” effect at Granada, the true grade of this hole is likely at least 30% higher (some would argue considerably more) – that’s based on GBB’s bulk sample and historical records from Granada.
GBB still has, by our calculation, 147 more holes to report – folks, this is going to get a lot more interesting very quickly. More later this morning.
