From Rouyn-Noranda, Quebec 11:30 pm EST 03/16/10
The news of a Gold Bullion Development $3.2 million financing did not surprise us today. It’s another sign of the huge appetite for this story and that things are moving rapidly with Gold Bullion after its recent Granada Gold Property discovery. The company will have more money in its coffers than ever before as it prepares to launch a massive LONG Bars Zone drill program beginning late April/early May in an effort to confirm a major near surface bulk tonnage, open-pit deposit along the prolific “Cadillac Trend”.
“The chances are that we might have a porphyry zone,” stated Frank Basa in an interview with us from the property Monday. Interesting comment, indeed – a quartz vein deposit with some sort of newly-discovered porphyry component. It’s true that the northeast discovery looks a little different from the rest of the structure at Granada. What begins to unfold as Gold Bullion heads further north and east in its next drill program is going to be a matter of incredibly intense speculation.
We walked through much of the LONG Bars Zone today and what struck us is not only how large this mineralized system already is, but how much bigger (and even better) it could become.
The two pictures below give a good visual of the blue sky potential of Granada. Mine Manager Karol Mikulash and I were walking east along a trail, away from Pits 2 and 2 A (past holes GR-09-05, GR-09-09 and GR-09-10 if you refer to the drill map on the Gold Bullion web site). Going along this trail we came to a fork. In the first picture below you’ll notice a sign. If you turn left at that sign, you’ll head north toward holes GR-10-14, GR-10-15, GR-10-16 and GR-10-17 (you have to go another kilometre or so past #15, the most northerly hole, to hit the northern edge of the property). A right turn at the sign takes you south, while straight ahead is east. We walked for a considerable distance straight ahead (Karol estimated over a kilometre) where no drilling has yet taken place, and came to a huge cleared area as you can see in the second picture below. It just goes on and on and on.
Picture #1
Picture #2 - Looking East
My point is very simple. Most of this nearly 5,000 hectare land package has yet to be explored. Gold Bullion has drilled only 2,800 metres and 25 holes – merely the tip of the iceberg.
The next round of drilling is likely going to be even more successful because of the amazing work GENIVAR, Gold Bullion’s geological consultant, has been doing to get a better understanding of the entire structure at Granada. GENIVAR’s impressive efforts are going to provide more precise drill targets which in turn should pay off big-time, we believe, for Gold Bullion and its shareholders.
We are touring the property again Wednesday.
