NI-43-101 Reports

Now in the final stages of permitting for the high-grade rolling start, the first phase of production for Granada, this 60 sq. km property hosts a substantial gold resource while mineralization in the prolific LONG Bars Zone remains open in all directions.

The most recent NI-43-101 resource calculation, completed in November 2012, shows over half a million ounces of gold in the measured category, 398,000 ounces in the indicated category, and 617,000 in the inferred category based on a cut-off grade of 1.0 g/t Au. A detailed breakdown is as follows:

 

To review the entire NI-43-101 report from November 2012, click here.

Gold Bullion management is currently focused on both the planned rolling production start (25 permits have been received and only one permit remains outstanding, the Certificate of Authorization from Quebec’s MDDELCC) and the opportunity to expand and upgrade the November 2012 resource.

A new resource model for the Granada Project is currently being prepared and it will include data from over 400 historical drill holes (not part of the Nov. 2012 resource calculation).

High-Grade Rolling Production Start

A Preliminary Feasibility Study for the proposed 3-year high-grade rolling start (open-pit) was released May 6, 2014. Proven reserves were reported as 170,000 tonnes grading 3.72 g/t Au and probable reserves were estimated at 399,000 tonnes grading 4.46 g/t Au, using a cut-off grade of 1.69 g/t Au.

To review the entire Preliminary Feasibility Study for the high-grade rolling start, click here.