North Bay Resources Inc. (NBRI) Reports New Gold Discovery at Brett
West
SKIPPACK, PA--(Marketwired - Oct 25, 2013) - North Bay
Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is
pleased to report that a completely new and previously undiscovered
gold zone has been detected on the Company's 100% owned Brett West
claims in southeastern British Columbia, Canada.
The Brett West claims are directly adjacent to and partially
surround the Brett occurrence (MINFILE 082LSW110) where 11,970
tonnes grading 39.12 grams per tonne gold have been previously
indicated by surface drilling and underground work. The Brett
occurrence was initially indicated by low transport gold particles
found in HMC (Heavy Metal Concentrates) samples from tributaries of
Whiteman Creek which drains the Brett area. The main shear zone on
the Brett and the RW vein were both discovered during road
construction. If there is an economically viable gold deposit
in the area it is likely completely masked by overburden, which is
why HMC sampling has been proven to be the best exploration tool.
There is a strong possibility that most of the widespread, spotty
gold anomalies found in the area to date originate from a
previously glaciated gold deposit.
As reported earlier in a Company press release dated January 31,
2012, a successful Pilot HMC geochemical program on the North Bay
property was conducted on behalf of the Company by Billiken Gold
Ltd ("Billikin") of Enderby, BC. Among the very positive results,
one spectacular sample in particular ("NB-60") generated a great
deal of interest, not just due to its high assay value of 95.6
grams (3.07 ounces) per tonne gold, but because the sample came
from a highly altered area in the Western Zone that has geological
similarities to the Brett occurrence. In addition to the high grade
and strategic location, the gold particles in this sample were
pristine, angular in shape, and with sharp edges that suggest they
are "low transport gold" and have not traveled very far. This
further suggests potential for a blind lode gold deposit close by,
similar to, or possibly an extension of, the nearby Brett
deposit.
During the 2013 field season, a second HMC program was commenced
on behalf of the Company by Billiken. This program was designed to
follow up on the previous findings along trend, and to further
evaluate the Company's newly acquired claims adjacent to the
alteration zone and the area where sample NB-60 was found during
the 2011 sampling program. This year's program was concluded in
July 2013 with 46 samples collected. These samples were
subsequently processed and catalogued prior to shipment to ALS
Chemex in Vancouver for analysis. Mr. Murray Morrison, B.Sc.
Geology, consulted on the project and assisted Billiken in a
detailed megascopic examination of all the samples. Mr.
Morrison has more than 30 years of experience in the geological
stratigraphy of the region, with a particular focus on the area
bounded by Whiteman Creek area where the Brett West property is
located. Mr. Morrison and Gene Dodd, President of Billiken,
returned to the property site earlier this month and located an as
yet undiscovered alteration zone up slope and up ice from these
recent high gold values. Further work will be required to
determine if this newly discovered alteration zone is the cause of
the highly anomalous gold assays.
The 2013 HMC program has resulted in an expansion and further
delineation of the alteration zone found in 2011, and the discovery
of a completely new and previously undiscovered target area about
400 metres west of where sample NB-60 was taken. The results of
this year's HMC program are extremely positive and encouraging. At
least 5 samples (NB-106, NB-107, NB-126, NB-137, and NB-138)
confirmed and further delineated the presence of highly anomalous
gold particles in the soil upslope from both NB-60 and the large
alteration zone discovered during the initial HMC program in 2011.
The recently concluded 2013 HMC project produced assays as high as
9.75 g/t (sample NB-137) from the original target area. New
and very positive results downslope from the newly discovered
alteration zone, about 400m west and upslope from NB-60, produced
high gold values from three samples; NB-126 (8.0 g/t), NB-163 (2.29
g/t), and NB-164 (2.53 g/t). These samples were all taken very
close together and point to this new target area upslope. Further
sampling is planned for next year to locate the origin of this gold
dispersal plume.
The exceptional assay results from the new discovery zone also
correlate with Mr. Morrison's pick (NB-164) as the most promising
of all the rocks found in the 46 sluice reject samples. This
accomplishment of Mr. Morrison's is indeed a testament to his
ability to spot gold bearing rocks in this environment. Of the
14 sluice reject samples (rock fragments) analyzed, NB-164 gave the
highest value by quite a margin: 0.102 g/t. This indicates that the
angular vein material and/or rock fragments in the sample are gold
bearing and appear to be from a source area very close by.
Reports on the 2011 as well as the 2013 geochemical programs
leading to these very promising results are available for viewing
at the Company website at
http://www.northbayresources.com/boul.html.
About Brett West/Bouleau Gold
The Brett West/Bouleau Creek Gold Property is a road-accessible
resource located 26 kilometres west of Vernon, British
Columbia. Including recently-staked ground that significantly
expanded and consolidated the Western zone, the property now covers
2,107 contiguous hectares (5,205 acres). The Western zone of
the Property partially surrounds and is directly adjacent to
Running Fox's Brett Gold deposit (MINFILE 082LSW110) where 11,970
tonnes grading 39.12 grams per tonne gold have been previously
indicated by surface drilling and underground work. The Southern
zone of the property below Bouleau Creek (MINFILE 082LSW069)
features gold and silver mineralization over an area of
approximately 1,000 by 600 metres. Historical assays
documented in Assessment Report 21877 are reported to yield up to
34 grams (1.09 ounces) per tonne gold and 286 grams (9.19 ounces)
per tonne silver. The Northern Zone above Bouleau Creek
includes the Siwash prospect (MINFILE 082LSW046), which extends
over an area of gold and silver mineralization measuring 3,000 by
750 metres. Historical assays in the Northern Zone are
documented in Assessment Report 20226 to yield up to 5.55 grams per
tonne gold and 16.6 grams per tonne silver.
About North Bay
Resources Inc.
North Bay Resources Inc. (OTCQB: NBRI) is a fully-reporting
junior mining company with current operations in the US and
Canada.
In the US, the Company's 100% owned and royalty-free Ruby Mine
is a fully-permitted underground placer and lode mine located in
the northern extension of the historic Mother Lode system in Sierra
County, California. The Ruby is known to have produced over 350,000
ounces of gold since the 1850s, including some of the most
spectacular gold nuggets on record. The Ruby Property covers
approximately 1,755 acres, only a small portion of which has been
explored to date. The Company is presently completing the
rehabilitation of the Ruby Tunnel and initiating test mining
operations in the sections of the mine that are now accessible.
In British Columbia, the Company holds 100% ownership of a
multitude of significant mining properties. These include two
gold-platinum placers, the Fraser River Project and the Monte
Cristo, and lode projects such as the advanced-stage Mount
Washington Project on Vancouver Island, the Brett West/Bouleau
Creek Gold project near Vernon BC, the Coronation Gold project in
the historic Slocan Mining district, and the Tulameen Platinum
Project near Princeton, BC. In addition to its many precious
metal projects, the Company also owns additional prospective
projects that host strategic mineral resources such as Vanadium,
Crystalline Flake Graphite, Olivine, and Rare Earth Elements
(REE).
The Company's mission is to build a portfolio of viable mining
prospects throughout the world and developing them through
subsidiaries and JV partners to their full economic potential.
North Bay's business plan is based on the Generative Business
Model, which is designed to leverage its properties into near-term
revenue streams even during the earliest stages of exploration and
development. This provides shareholders with multiple opportunities
to profit from discoveries while preserving capital and minimizing
the risk involved in exploration and development.
Additional information on the Company's many properties and
ongoing projects is available at the Company website at
http://www.northbayresources.com.
SAFE HARBOR FOR FORWARD LOOKING
STATEMENTS
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities and
Exchange Act of 1933, as amended, and Section 21E of the Securities
and Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties. Although North Bay Resources Inc. believes that the
assumptions underlying the forward-looking statements contained
herein are reasonable, any assumption could be inaccurate, and
therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion should
not be regarded as a representation by North Bay Resources Inc. or
any other person that the objective and plans of North Bay
Resources Inc. will be achieved.
Cautionary Note to U.S. Investors - The United States Securities
and Exchange Commission permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. We use
certain terms on our website (or press releases), such as
"measured," "indicated," and "inferred" "resources," which the SEC
guidelines strictly prohibit U.S. registered companies from
including in their filings with the SEC. U.S. Investors are urged
to consider closely the disclosure in our Form S-1 and Form 10-K
which may be secured from us, or from the SEC website at
http://www.sec.gov/edgar.shtml
Contact: Perry Leopold CEO North Bay Resources Inc. 215-661-1100
http://www.northbayresources.com
North Bay Resources (PK) (USOTC:NBRI)
Historical Stock Chart
From May 2024 to Jun 2024
North Bay Resources (PK) (USOTC:NBRI)
Historical Stock Chart
From Jun 2023 to Jun 2024