North Bay Resources Inc. (NBRI) Completes Ruby Mine Gravity Survey
Drilling Program Will Integrate Important New Findings
SKIPPACK, PA--(Marketwired - Mar 25, 2014) - North Bay Resources
Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to
report that the gravity survey initiated in late January at the
Ruby Mine in Sierra County, California has been
completed.
The gravity survey was conducted by Magee Geophysical Services,
with the assistance of Cranmer Engineering, Sierra Surveying, Inc.,
and Wright Geophysics.
Among its important findings, the survey shows:
- indications of a new previously-unknown channel near the Ruby
Adit
- indications of terraces at the upstream end of the Cincinnati
Channel
- the location of the Cincinnati Channel at 3 locations,
providing an accurate position of where the channel crosses over
the Ruby Adit
- the location of the Pilot Channel a short distance northeast of
the Lawry Shaft
- the location of the Black Channel up to the Lawry Shaft
Pending confirmation by drilling, the survey demonstrates that
channels buried at least as deep as 350 feet can be readily
detected with gravity, although the exact elevation to the bottom
of the channel cannot be determined with this method
alone. The application provides a relatively inexpensive
method for "prospecting" areas of the Ruby property where past
mining or drilling is absent. This new information is being
used by our geological team to provide more exact coordinates for
drill placement at the various potential mining targets recently
identified and immediately accessible within the Ruby Adit.
The Company also reports that the installation of 2,000 feet of
new 4" diameter steel pipe to upgrade our compressed air capacity
is set for completion today. As previously announced in a Company
press release dated March 7, 2014, the installation of this new
airline was a crucial step required to prepare and support an
effective drilling program, as it was essential to increase our
compressed air capacity to run the drill and other equipment
without depriving other work areas in the mine of this vital energy
source. Following completion of the pipe installation by the end of
today, we expect drilling to begin tomorrow.
In the coming days we will confirm that drilling has begun, and
we will provide a more in-depth discussion about the drilling
targets at that time.
Mr. C. Gary Clifton, P.Geo., is the Company's independent
consulting geologist for the Ruby Gold Project. Mr. Clifton is
a Qualified Person as defined by National Instrument 43-101, and
has reviewed this press release for technical accuracy.
About The Ruby Gold Project
The Ruby Mine, a/k/a the Ruby Gold Project, is a fully-permitted
underground placer and lode mine located near Downieville in Sierra
County, California that is known to have produced over 350,000
ounces of gold since the 1850's, and which is considered to be part
of the northern extension of the historic Mother Lode system. The
Ruby Property covers approximately 1,755 acres, only a small
portion of which has been explored to date. The property
consists of the subsurface mineral rights of two patented claims
totaling approximately 435 acres and 30 unpatented claims
containing approximately 1,320 acres. The equipment, fixed
assets, and infrastructure in place include a 1,000 yard per day
placer wash plant, 50-ton per day quartz mill, 6,000 feet of
tracked haulage, and related support equipment needed for
underground mining operations. The property also features an
excellent system of roads, is accessible via paved highway from
Reno or Sacramento, has abundant water and timber available for
mining purposes, and has PG&E power available on-site. For
further information on the Ruby Mine, please visit the Ruby page on
the North Bay website at
http://www.northbayresources.com/ruby/.
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 subsidiary, Ruby Gold, Inc., owns and
operates the Ruby Mine in Sierra County, California. The Ruby Mine
is a fully-permitted underground placer and lode mine located in
the northern extension of the historic Mother Lode system. 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.
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 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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