Ruby Gold, Inc. Engages Taurus Drilling
June 05 2014 - 8:15AM
Marketwired
Ruby Gold, Inc. Engages Taurus Drilling
NEVADA CITY, CA--(Marketwired - Jun 5, 2014) - Ruby Gold, Inc.
("RGI", or the "Company"), a wholly-owned subsidiary of North Bay
Resources Inc. (OTCQB: NBRI) ("North Bay"), is pleased to announce
that it has engaged Taurus Drilling LLC ("Taurus") of Lake Havasu
City, Arizona, to complete the drilling of nearby mining targets at
the Ruby Mine in Sierra County, California. Taurus is scheduled to
commence drilling on June 9, 2014.
As previously announced in a North Bay press release dated March
27, 2014, seven new exploration drilling targets have initially
been identified from geological mapping and a recently completed
gravity survey. The following targets are all accessible with drill
holes from the Ruby Adit and 109 Crosscut, and include four
suspected paleochannels and three terraces associated with known
channels which can be viewed at
http://www.northbayresources.com/ruby/DrillingTargets.jpg:
- Daylight Channel. This target is estimated to be 40 feet above
the Ruby Adit and could be rich if white (quartz) gravels are
encountered.
- Raise Channel. This occurrence is also very close to the Ruby
Portal.
- Bald Mountain Channel Terrace Gravels. This target is over 100
feet above the Ruby Adit and is considered very important. These
were the first very rich gravels mined when the Ruby Mine was first
opened, and were reported as containing visible gold. Even a
relatively small area of unmined gravel could be valuable, and
discovery of unmined gravel above the Daylight Turn would prove
that the high terrace gravels may extend for many hundreds of feet
along the west side of the Bald Mountain Channel to the north of
the adit.
- Deep Channel Terrace Gravels. This target is a short distance
from the previous target and is believed to be only 20 to 30 feet
above the adit level. The gravels are expected to be volcanic mixed
with quartz. The workings in the Deep Channel are very substantial,
indicating the gravels contained significant concentrations of gold
over a wide area. Their close proximity to the Ruby Adit makes them
a logical target.
- Cincinnati Channel. This is an intervolcanic channel believed
to cross the Ruby Adit, based on surface workings and recent
gravity survey profiles. The width of the channel and its depth
will be determining factors if a raise is to be put in to test the
material.
- New Black Channel. This area contains the most obvious evidence
of a new overlying channel: water and iron stalactites. Secondary
evidence is the reported cut-off of the Black Channel at a location
that would be downstream. Based on the extent of the rock in the
back of the tunnel that is wet, this channel may be several hundred
feet wide and require many additional holes to fully
characterize.
- Black Channel Terrace Gravels. These targets are speculative.
If gravels are encountered, the true extent of the deposits will be
difficult to determine without raising up to them for bulk sampling
(similar to the Bald Mountain and Deep Channel Terrace targets). It
is important to note that the Ruby Adit is an ideal haulage tunnel,
providing the infrastructure to access and mine overlying gravels
relatively efficiently.
These new targets will be evaluated with drill holes at specific
underground locations in the Ruby Adit. Cuttings will be collected
continuously during drilling, and if gravels are encountered,
closely examined for gold. The goal of the program is to discover a
channel or terrace that contains gold-bearing gravel and to then
raise up to the channel for bulk sampling. The close proximity of
these targets above the Ruby Adit makes them all compelling targets
for near-term production, as any one of these targets that proves
out can be placed into production relatively quickly.
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 the information presented above for technical
accuracy.
About Ruby Gold, Inc.
Ruby Gold, Inc., a wholly-owned subsidiary of North Bay
Resources Inc. (OTCQB: NBRI), is the owner and operator of the Ruby
Mine (the "Ruby"), a fully-permitted underground placer and lode
mine located near Downieville in Sierra County, California. The
Ruby is known to have produced over 350,000 ounces of gold since
the 1850's, and is considered to be part of the northern extension
of the historic Mother Lode system. The Ruby Property covers
approximately 2,312 contiguous 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 59 unpatented claims containing approximately 1,877
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 web page at http://www.northbayresources.com/ruby/.
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 President Ruby Gold, Inc. 215-661-1100
http://www.northbayresources.com
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