10:40 am Pacific time:
We have said this many times before at BullMarketRun but it’s worth repeating – a fascinating geological story continues to unfold at Gold Bullion Development’s (GBB, TSX-V) Granada Gold Property in northwestern Quebec, 65 kilometres west of Osisko’s (OSK, TSX) massive Canadian Malartic Deposit.
Not only does mineralization appear widespread and near-surface at Granada as outlined in Phase 1 drilling (low grade though ideal for open-pit mining), but potential discoveries between 150 and 300 metres vertical depth appear likely in the current Phase 2 drilling given Gold Bullion’s news release a week ago. BMR interviewed President and CEO Frank Basa this morning who also confirmed our speculation that the dimensions of the east-northeast discovery area that’s currently being drilled should match the dimensions of the existing Preliminary Block Model after Phase 2 drilling. Much more drilling is also planned through the remainder of the year. To listen to the full 18-minute interview with Basa, simply click on the link below (MP3 file):
On another note, Gold has reversed nicely this morning and as of 10:40 am Pacific time is up $8 an ounce to $1,192 after touching $1,175 earlier today. This certainly demonstrates the strong support Gold has just above its rising 200-day moving average.
