Welcome!

Microsoft Cloud Authors: Janakiram MSV, Pat Romanski, Steven Mandel, John Basso, Liz McMillan

News Feed Item

Gold Bullion Receives Positive Preliminary Economic Assessment for Granada, Proceeding to Preliminary Feasibility Study

VANCOUVER, Dec. 21, 2012 /PRNewswire/ - Gold Bullion Development Corp. (TSX.V: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce the first economic estimates for its Granada gold property located on the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda. The proposed combination of an open pit and underground operation has the potential to move Gold Bullion into gold production at the approximate rate of 102,000 ounces of gold per year.

The Preliminary Economic Assessment (PEA) was prepared by SGS Canada Inc. -  SGS Geostat business unit.  The PEA is based on the measured, indicated and inferred gold resource estimation provided by SGS Geostat that was press released on November 15th 2012 in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects as defined by "NI 43-101" regulations. PEA highlights are summarized below:

Assumptions  
Gold Price (US$/oz) - 3 years trailing average 1,470
Canadian $ to US$ rate 1.0:1.0
   
Mineral Resources (recovered ounces)  
Underground Resources (1)                      387,000
Open pit Resources (2)                      739,000
   
Mine Parameters  
Mill feed coming from underground mine (tonnes per day)                          1,000
Mill feed coming from open-pit mine (tonnes per day)                          6,500
Combined mill feed (tonnes per day)                          7,500
Mine plan tonnage (tonnes)                 26,400,000
Underground Mine plan mill feed grade (grams/tonne)                            3.51
Open-pit Mine plan mill feed grade (grams/tonne)                            1.07
Open-pit waste-to-ore ratio                            5.91
Estimated gold recovery (%)                          94.10
Total gold recovered (ounces)                   1,126,000
Pre-production period (years)                            2.00
Mine life (years)                          11.00
Average annual gold production (ounces)                      102,000
   
Costs  
Pre-production capital ($)               259,000,000
Average Underground cash cost per ounce (US$/oz)                          1,205
Average Open-pit cash cost per ounce (US$/oz)                             985
   
Financial Return  
Payback from start of production (years)                            6.80
Internal Rate of Return (before tax) 10.4%
Net present value, pre tax, 5.5% discount ($ disc.)                 74,300,000
 
(All dollar figures expressed in Canadian dollars, except where indicated)

  Resource category Tonnes Grade (g/t)
U/G(1) Measured             18,000                2.79
Indicated        1,018,000                3.74
Inferred        2,635,000                3.42
Open-pit(2) Measured      20,485,000                1.05
Indicated        2,178,000                1.27
Inferred           112,000                0.78

Note: The above chart is presenting the resource as diluted material, mineral resources that are not mineral reserves and do not have demonstrated economic viability.


At the prevailing gold price on December 19th, 2012 of US$1,650 per ounce and a Canadian to U.S. dollar exchange rate of 1.00, Gold Bullion has determined that the pre-tax NPV increases to $217.8 million at a 5.50% discount rate while pre-tax IRR increases to 18.8% with payback time reduced to 4.8 years (using the same mine plan).

The study was prepared as a stand-alone project, relating solely to the mineral resources deposit at Granada, and accordingly does not take into account the previously outlined potential at depth disclosed on November 26th, 2012 since it is not mineral resources. Additional work is therefore required to convert the portion of potential into mineral resources.

The Scoping Study mentioned herein is a preliminary evaluation inclusive of inferred mineral resources that are too geologically speculative to infer economical considerations that would classify them into mineral reserves. It is therefore uncertain that this preliminary evaluation results in the expected outcome.

The complete technical report will be filed on the Company's website (www.GoldBullionDevelopmentCorp.com) and on SEDAR (www.sedar.com) in the next 45 days.

"We are very pleased to release the Preliminary Economic Assessment study on the Granada gold deposit" stated Frank J. Basa, P. Eng., President and Chief Executive Officer.  "Due to the dedication and diligence of Gold Bullion's technical team and consultants, we have been able to deliver this study within just four years of developing the property and are proud to see Gold Bullion progress as a potential emerging producer of gold in the near term, creating shareholder value through successful exploration and development while continuing to seek out other worthwhile opportunities for growth."

The delivery of the Scoping (PEA) Study completes the first stage of Gold Bullion's Continuous Development Program at Granada, aimed at advancing the Granada Project to commercial production, by demonstrating an economic, environmental and social gain, while simultaneously mitigating the technical, financial, and environmental risks of the Project.

As mineral resources could be affected by permitting and social acceptance issues, Gold Bullion plans to hold meetings with various stakeholder groups prior to the completion of the Pre-Feasibility Study and will either be incorporating those views and recommendations into the study or retaining as recommendations to be addressed in the possible final Feasibility Study.

Claude Duplessis, Eng., Gaston Gagnon, Eng. and Jonathan Gagné, Eng. are acting as the qualified persons (QP) for Gold Bullion Development Corp. in compliance with National Instrument 43-101 and have reviewed the technical contents of 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 the website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.

"Frank J. Basa"

Frank J. Basa, P.Eng.
President and Chief Executive Officer

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.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.