Investorideas.com – Gold Stocks; Gold Bullion (TSX-V: GBB) nears halfway mark of Phase 2 drill program

Investorideas.com – Gold Stocks; Gold Bullion (TSX-V: GBB) nears halfway mark of Phase 2 drill program

VANCOUVER – July 13, 2010 (Investorideas.com Mining stocks Newswire) – Mr. Frank J. Basa reports: Gold Bullion Development Corp. (TSX.V: GBB) (the “Company” or “Gold Bullion”), is pleased to report that a 20,000 metre Phase 2 drill program at its 100% owned Granada Gold Property is proceeding ahead of schedule with a total of 9000 metres (47 holes) completed as of this morning. Granada, five kilometers south of Rouyn-Noranda, Quebec, is situated along the prolific “Cadillac Trend” where numerous multi-million ounce gold deposits have been discovered.

While one Landdrill International Inc. rig is handling infill drilling at 30-metre spacing within the LONG Bars Zone Preliminary Block Model, the other drill rig is in the Phase 1 east-northeast discovery area in an effort to further define the extent of mineralization near surface and below 150 metres vertical depth in this part of the LONG Bars Zone. Drilling in this promising area has totaled nearly 4,000 metres (17 holes) so far and is consistently intersecting multiple zones of altered feldspar porphyry, favorable for gold mineralization, along with some quartz veining in all directions surrounding discovery hole GR-10-17. Visible gold has been observed in a few of the holes.

Drilling is gradually pushing east of GR-10-17 as GENIVAR, Gold Bullion’s geological consultant, continues to test a number of auriferous structures contained within a wide, east-west trending zone of shearing, alteration and quartz veining. In a significant development, GENIVAR has planned a deep hole (365 metres vertical depth) 176 metres east-southeast of GR-10-17. Drilling of this target, which would be the deepest hole drilled so far by Gold Bullion at Granada, is expected to commence within the next day or two and is designed to confirm an extension of altered zones that have been discovered in other Phase 2 holes 75 metres to the northwest and southwest, respectively.
Gold Bullion’s 4,900 hectare land package extends several kilometers east of GR-10-17 (the easternmost hole drilled in Phase 1) which includes an area the Company is now calling “LONG Bars Zone 2″. Historically defined as part of the Granada “Eastern Extension”, numerous gold showings in LONG Bars Zone 2 were reported as far back as the 1930′s and in an exploration program conducted by KWG Resources in the early 1990′s. GENIVAR continues to compile information on LONG Bars Zone 2 which is 1800 metres or 1.5 kilometres east of GR-10-17 and includes a 1 kilometre long shear zone. This area received considerable historical attention but was not viewed in the context of the new geological interpretation of Granada as a potential near-surface, bulk tonnage deposit amenable to open-pit mining.

Several northeasterly fault zones cross the shear zone and are considered prime targets for possible economic gold concentrations