North Bay Resources Inc. (NBRI): Processing of White Channel Bulk
Sample Concentrate Increases Overall Gold Yield 100%
SKIPPACK, PA--(Marketwired - Jun 24, 2014) - North Bay Resources
Inc. (OTCQB: NBRI) ("North Bay" or the "Company") reports that a
portion of the concentrates from the 2nd White Channel bulk sample
run last month at the Ruby Mine in Sierra County, California, has
been processed, and an additional 25 grams of fine gold has been
recovered. This brings the total yield from the recent 60 ton
bulk sample to 1.6 ounces gold to date, for a 100% increase over
the previous reported yield.
Additional concentrates remaining from the bulk sample run will
be processed shortly, which again may increase the total yield from
the bulk sample before the assessment is finalized. We are
encouraged that the virtual doubling of the yield thus far brings
the White Channel much closer to potentially being an economical
resource at current metal prices. Accordingly, management has
determined that further evaluation of the White Channel should be
undertaken after our current drilling project is completed and the
portion of our crew that is not working at the Big Bend raise can
be redeployed from their current drill station support duties to
other tasks. In the interim, a portable test plant has been
brought on-site to further test the material from both the White
Channel and the Black Channel in smaller measured amounts that can
be closely monitored throughout the recovery process.
We note that these White Channel bulk sample concentrates have
been in storage since early May awaiting the use of a new Ultra
High Frequency (UHF) Concentrator table that we believe will allow
the processing of our concentrates more quickly and efficiently to
obtain maximum yields. Rather than continue to wait for its
availability, we have now processed a portion of the White Channel
bulk sample concentrates by hand. Manual processing is a very
time-consuming and labor-intensive task, albeit also very
efficient. We hope to have the UHF table available for use by
the time the next bulk sample is ready to be processed. In the
meantime, the remaining concentrates from the 2nd White Channel
bulk sample will continue to be processed manually to obtain a
final assessment of the total yield.
In other news, the drilling program that recommenced on June 9,
2014, is still ongoing. We also note that the mining crew was
increased last month and began working 7 days per week in 2 split
shifts. The drilling has been conducted nightly during an
additional night shift, and as a result we have been working 24/7
while the drilling remains in progress. Thus far we have
drilled 10 holes at various key locations above the Ruby Adit for a
total of 1,074 feet. We expect to drill at least 600 to 1,000
more feet before the drilling program is concluded.
We also report that the Big Bend raise is currently being
timbered to reinforce the ground support and secure the
accessway. A bulkhead has been installed, and the raise is
being compartmentalized to provide an ore chute to the Ruby tunnel
haulageway. As our geological team is presently working the
night shift to monitor the drilling project fulltime, we expect the
Big Bend raise timbering to be completed around the same time the
drilling program is winding up later this month, at which point our
geological team will turn their attention to the evaluation of the
Black Channel. In the event we also make the decision to
resume mining in the White Channel, we are now in position to
potentially have at least two mining headings in operation
simultaneously this summer.
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 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 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 2,312 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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