Basa, Chairman of the Board and President of Gold Bullion Development Corp. (formerly Consolidated Big Valley Resources Inc.) (the "Company") (TSX VENTURE: GBB) announces that the mining of the open pit is at the first bench of three to be mined to evaluate the grade of the mill feed with depth of the open pit. A total of 400,000 tonnes will be mined of which 142,000 tonnes will be mill feed from the overall test pit. The month to date mill head grade to February 14, 2007 is 1.9 g/t gold.
The mill is operating on a five day week schedule, averaging 270 tonnes per operational day. The month to date gold recovery for February is 90.91%.
The Company will undertake an exploration and drill program on the Granada property late this fall into the winter of next year 2008 to increase the global resource base and evaluate the potential for a super pit which would include all the vein structures.
ROUSSEAU PROPERTY - UNDERGROUND BULK SAMPLE
The Company has targeted to be underground by the second quarter of 2007. The permitting process is underway to extract a 44,000 tonne bulk sample. Equipment has been sourced and some purchased. A mining contractor has been selected to undertake the program.
Once the extraction of the bulk sample will begin a drill program will be undertaken to confirm the continuity to at least 130 meters vertically, (drill hole results 30 meters below the present ramp bottom at 100 meters) a drill hole coring 12.7 g/t over 2.73 meters. No exploration has been carried on strike beyond the underground workings which expose the vein for over 200 meters. A drill hole 330 meters to the east returned values of 4.96 g/t over 4.0 meters. (E.O. Chisholm P.Eng., December 30,1983, company report, First Standard Mining Ltd., page 7. ).
RSW-BEROMA INC.
The Company and RSW-Bermona Inc. have amended its Commercial Agreement with respect to the transfers of gold to be made by the Company. The transfers of gold shall be amended to 462.5 ounces of gold every three months beginning January 1, 2007 and ending January 1, 2010.
The contents of the above news release have been reviewed and verified by Frank J. Basa, P.Eng., qualified person under NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Frank J. Basa, P.Eng., Chairman of the Board and President
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations.
This press release has been prepared by management.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts:
Gold Bullion Development Corp.
Frank J. Basa, P.Eng.
Chairman of the Board and President
(705) 647-2151
Website: www.goldbulliondevelopmentcorp.com
Copyright © 2007 SYS-CON Media.
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Gold Bullion Development Corp.: Granada Mine Property-Open Pit Mining Operations
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