North Bay Resources Inc. (NBRI) Completes Follow Up Geochemical Field Work at Brett West/Bouleau Creek Gold Property
July 10 2013 - 8:00AM
Marketwired
North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the
"Company") is pleased to announce that it has completed a follow up
geochemical survey of its 100% owned Brett West/Bouleau Creek Gold
Property (the "Property") in southeastern British Columbia, Canada.
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.
In October 2011 a successful Pilot HMC (Heavy Metal
Concentrates) Geochemical program on the Property was conducted on
behalf of the Company by Billiken Gold Ltd ("Billikin") of Enderby,
BC. Over 2300 pounds of sample material were collected, and
subsequently processed and cataloged into 36 samples. As reported
in a Company press release dated January 31, 2012, 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 another lode gold deposit close by, similar to, or
possibly an extension of, the nearby Brett deposit.
On May 14, 2013, a follow up HMC program was commenced on behalf
of the Company by Billiken. This program was designed to return to
the site where NB-60 was found to follow up on the previous
findings along trend, as well as to assess the newly acquired
claims adjacent to the work area. The program was concluded on July
1, 2013 with at least 46 samples collected. These are currently
being processed, analyzed, and catalogued prior to being sent to
ALS Chemex in Vancouver for assay. Mr. Murray Morrison, B.Sc.
Geology, is also consulting on the project, and is assisting
Billiken in an extensive megascopic examination of the samples
before they are sent to the lab. Mr. Morrison has over 30 years of
experience in the geological stratigraphy of the region, with a
particular focus on the area bounded by Whiteman Creek and Bouleau
Creek where the property is located.
The Company will issue a follow up report once the samples have
been assayed and an analysis of the results is complete.
In other news, and as set forth in the Company's Current Report
on Form 8-K filed with the United States Securities and Exchange
Commission ("SEC") on July 3, 2013, the Company has recently sold
its Fawn-Buck property in the Nechako Plateau region of central
British Columbia to New Gold, Inc. for $166,650 USD. A portion of
the funds received from this transaction has been allocated to the
Company's 2013 exploration budget in British Columbia.
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 1850's, 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 rehabilitating the Ruby
Tunnel, and expects to begin mining operations upon its
completion.
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 Mt.
Washington/Connie Hill 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, 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 our
website at http://www.sec.gov/edgar.shtml
Contact: Perry Leopold CEO North Bay Resources Inc. 215-661-1100
http://www.northbayresources.com
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