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North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton
BISHOP, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has entered into an agreement (the “Agreement”) with a private arms-length Company to acquire a 100% interest in the Mt. Vernon Mine located in Sierra County, California. The Mt. Vernon Mine is a largely undeveloped deposit, proximate to some of the richest past producing gold mines in North America. Mt. Vernon is a permitted underground mine with modern portal, tunnel, ventilation. power, and equipment (see Picture 1). The Company plans to commence test mining immediately and initial production of 100 tons per day shortly, pending minor infrastructure and permitting updates. The ore will be shipped to the Company’s Bishop, California Gold Mill for processing. The Company is targeting initial net mine production of 3 truckloads per day utilizing 30 ton triaxle dump trucks for delivery of feedstock to the Bishop Gold Mill with an average target grade of one ounce gold per ton. Production targets are based on prior exploration and currently developed underground access to the gold bearing ore body. The ore body is estimated at 954,000 tons based on the known channel (see Figure 1 – B. Hanford 2023.
https://ml.globenewswire.com/Resource/Download/a8d95449-09b3-42d1-a2a4-eb71a6c22395/picture-1-mt-vernon-main-portal.png
Picture 1. Mt. Vernon Main Portal
https://ml.globenewswire.com/Resource/Download/6c59b73f-cc5a-4660-a399-bb82d477f741/figure-1-mt-vernon-known-channel.png
Figure 1. Mt. Vernon Known Channel
Gold Mineralization
The Property is 120 acres, composed of six 20-acre claims. Two types of gold mineralization occur on the Property, a) paleo-placer deposits buried under mudflows and volcanic rocks and b) auriferous quartz veins. The Tertiary placer channels are large cobble conglomerates cemented with a ferruginous sand matrix containing free gold. Gold is recovered as fine flakes and large nuggets (see Picture 2). The channels vary in thickness from 4 feet to as much as 20 feet thick. Typically, the lower 4 feet of the gravels contain the higher grades. A 90-ounce nugget was found on the Property in 1926. The Property is located directly adjacent and upstream from the neighboring Ruby Mine. The Ruby produced what is considered to be the best collection of gold nuggets in the world. The Property is located upstream between the rich lode deposit, the source of the placer gold, and the Ruby Mine and on the same channel as the Ruby Mine.
The erosion of the gold-quartz veins during the Cretaceous-Eocene period concentrated river gravels in the ancient streams. The eruption and deposition of the lava and mud flows covered rocks during the Pliocene period and sealed the gravels in place.
https://ml.globenewswire.com/Resource/Download/cb4457d7-8575-43f5-a51b-9caced0506dd/picture-2-gold-mineralization-at-the-bedrock-contact.png
Picture 2. Gold Mineralization at the Bedrock Contact
Recent Exploration
In 2023, channel sampling was completed throughout the underground at the bedrock contact. Assays were completed using acid-digestion and fire assay at Enviro-Chem Analytical Laboratory. Results are as follows:
Mt. Vernon - Main Tunnel North Face
Sample ID Channel Sample Location 10' Intervals Au Oz./Ton
MV23-8 3+90-4+00 L 2.11
MV23-7 4+00-4+10 L 2.02
MV23-6 4+10-4+20 L 1.35
MV23-25 4+20-4+30 L 2.10
MV23-18 4+30-4+40 L 3.22
MV23-12 4+40-4+50 L 4.80
MV23-14 4+50-4+60 L 2.48
MV23-23 4+60-4+70 L 1.82
MV23-13 4+70-4+80 L 2.83
MV23-26 4+80-4+90 L 1.52
MV23-2 4+90-5+00 L 2.57
MV23-24 5+00-5+10 L 1.06
MV23-9 5+10-5+20 L 0.67
MV23-3 5+20-5+30 L 0.94
MV23-29 5+30-5+40 L 0.93
Mt. Vernon - Main Tunnel South Face
Sample ID Channel Sample Location 10' Intervals Au Oz./Ton
MV23-17 3+90-4+00 R 2.01
MV23-10 4+10-4+20R 2.4
MV23-19 4+20-4+30 R 2.21
MV23-28 4+30-4+40 R 1.32
MV23-16 4+40-4+50 R 1.58
MV23-21 4+50-4+60 R 1.27
MV23-20 4+60-4+70 R 1.85
MV23-11 4+70-4+80 R 0.74
MV23-27 4+80-4+90 R 1.19
MV23-1 4+90-5+00 R 0.85
MV23-4 5+00-5+10 R 1.70
MV23-15 5+10-5+20 R 1.21
MV23-5 5+20-5+30 R 0.40
MV23-22 5+30-5+40 R 0.38
Terms of the Agreement
The terms of the Mt. Vernon acquisition agreement are as follows:
$25,000 on signing (the “Due Diligence Payment”);
$25,000 within 45 days of signing (the “MET Analyses Payment”)
$500,000 within 90 days of signing (the “Down Payment”);
$1,000,000 within 180 days of signing (the “First Annual Payment”);
$1,000,000 within 1 year of the First Annual Payment (the “Second Annual Payment”);
$1,000,000 within 2 years of the First Annual Payment (the “Third Annual Payment”);
$1,000,000 within 3 years of the First Annual Payment (the “Fourth Annual Payment”);
$1,000,000 within 4 years of the First Annual Payment (the “Fifth Annual Payment”);
$4,450,000 within 5 years of the First Annual Payment (the “Final Payment”).
Subsequent to the completion of the Option, the Property will be subject to a 2% Net Smelter Return (the “NSR”). North Bay will have the right to acquire 100% of the NSR for a payment of $10,000,000 in whole or in part on a pro-rata basis to either or both of the NSR owners at any time for a period of up to 20 years from the date of this agreement.
Corporate Update
The Company has entered into an agreement with Tomek Jablowski for digital marketing and media services. Mr. Jablowski to receive $7,500 per month and the right to acquire $100,000 of North Bay Common Stock at a price of $0.0004 in the form of 250,000,000 incentive stock options with an exercise price of $0.0004 and a term of 3 years. The options will vest at the rate of 20% quarterly.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
info@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
Facebook: North Bay Resources Inc | FacebookLinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a8d95449-09b3-42d1-a2a4-eb71a6c22395
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c59b73f-cc5a-4660-a399-bb82d477f741
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb4457d7-8575-43f5-a51b-9caced0506dd
https://www.globenewswire.com/newsroom/ti?nf=OTE3OTgxMSM2MzcyMjQzIzIwMjc3ODg=
https://ml.globenewswire.com/media/MGQyZTQ2YTctMWI0Mi00NmIwLWFlMTUtNzYyNDRhYmYwNzFmLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Picture 1
Mt. Vernon Portal
Figure 1
Mt. Vernon Known Channel
Picture 2
Gold Mineralization at the Bedrock Contact
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2921212
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California
BISHOP, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce completion of flooding and operational testing of flotation cells and frothing equipment at the Bishop Gold Mill (the “Mill”). The flotation cells are used in combination with frothing reagents to separate gold and sulphides from host rock. After grinding in the jaw crusher and ball mill into a fine powder, the ore is soaked in a hydrophobic reagent and then moved into the flotation cells where a frothing reagent is added creating bubbles. The gold and sulphides adhere to the bubbles that ascend to the top of the cells where they are scooped into a tray below. This gold concentrate is then dried and refined into gold bars.
Mill Feedstock
The Company has received assays from its Fran Gold Join Venture confirming 0.5 troy ounce per ton material from surface (see Press Release dated June 18, 2024) and has targeted an initial 5,000 tons of material for test processing or approximately 2,500 troy ounces of gold. Metallurgical analyses are currently underway to determine composition and make-up of material including final grind and confirmation of efficacy of selected frothing agent and flocculent in the flotation cells. The Company continues to review gold mine acquisitions and joint ventures throughout the Western US and Canada and is committed to acquiring ounces in the ground in support of the Bishop Mill and any future expansion that may occur.
About North Bay Resources
North Bay Resources operates the 100 ton per day Bishop Gold Mill in Inyo County, California. The Company owns the Murex Copper-Gold Project, the Copper Island Copper-Silver Project, the Tulameen Platinum Project, and is a 50/50 Joint Venture Partner in the Fran Gold Project all located in British Columbia, Canada. The Company seeks to return value to shareholders by staged acquisition, exploration and development of its metals projects and through the utilization of its gold milling facilities.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
info@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
Facebook: North Bay Resources Inc | FacebookLinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
A video accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/b88d2082-a255-4fda-971d-d5d013a965e8
https://www.globenewswire.com/newsroom/ti?nf=OTE3MDExNCM2MzQ1MTIxIzIwMjc3ODg=
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Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2903170
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia
GLOBENEWSWIRE 7:00 AM ET 6/18/2024
Symbol Last Price Change
NBRI 0.0002down 0 (0%)
QUOTES AS OF 12:00:00 AM ET 06/17/2024
BISHOP, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc.(NBRI) (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce assays have been received from recent exploration at its Fran Gold Joint Venture (the “Property” or “Fran”). Assays were taken over a wide area of known gold mineralization across pre-existing trenches A through E. Assays from separate composite samples from trenches B and C resulted in near identical results of 0.5 troy ounces per ton of gold. This central area of the Property is recognized as the richest area in the Bullion Alley Zone, and is supported by extensive drilling, reflecting a potential feeder zone. This area remains the focus of upcoming bulk sampling. In addition, trenches A and B, assayed 0.9% copper with high iron.
Assays were completed at ALS Global Laboratory, North Vancouver, BC, utilizing fire assay with atomic absorption finish for gold, ALS Method Au-AA25 and 36 Element Aqua Regia ICP for other minerals, ALS Method ME-ICP41.
Results as follows:
Sample ID Trench ID Au Troy Oz
per Ton Ag Troy Oz
per Ton Cu % Zn % Fe % S %
3601 E 0.08 0.22 0.13 0.01 11.1 1.63
3602 E 0.09 0.12 0.14 0.01 9.24 1.75
3603 D 0.03 0.12 0.11 0.02 8.79 3.7
3604 C 0.53 1.2 0.09 1.34 4.85 2.07
3605 B 0.44 1.75 0.9 0.32 34.9 10
3606 A 0.14 0.07 0.9 0.02 28.6 10
North Bay currently awaits metallurgical test results that will define the specific compounds of the mineralization. This will assist the Company in determining the applicability of gravity and flotation recovery methods for the separation of the gold.
Fran Gold Project
North Bay has entered a 50/50 joint venture earn-in agreement with MGX Minerals, Inc., regarding the Fran Gold Project, British Columbia. The Property is 34,360 acres and is located 20 miles from Centerra Gold’s 60,000 tonne per day Mt. Milligan Copper, Gold Mine (299Mt @ 0.22% Cu, .45 g/t Au). To date there has been in excess of 50,000 feet of diamond drilling in 104 holes at Fran, primarily at the Bullion Alley Zone. A gold deposit, 3700 feet in length, with width of up to 120 feet, and depth of over 700 feet has been delineated. The deposit contains 3 to 4 well defined parallel gold veins grading up to 2.6 troy ounces of gold per ton as well as wide sections of low and mid-grade gold in veins and disseminated in veinlets throughout the deposit. Surface trenching has identified a near surface sub-zone where the gold bearing veins swell and are accessible from surface. In addition, samples have assayed up to 1.68% copper and 5.1 troy ounces per ton silver. There is property wide potential for additional discoveries of gold and copper with numerous showings outside of the Bullion Alley Zone.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
About North Bay Resources(NBRI)
North Bay Resources (NBRI) operates the 100 ton per day Bishop Gold Mill in Inyo County, California. The Company owns the Murex Copper-Gold Project, the Copper Island Copper-Silver Project, the Tulameen Platinum Project, and is a 50/50 Joint Venture Partner in the Fran Gold Project all located in British Columbia, Canada. The Company seeks to return value to shareholders by staged acquisition, exploration and development of its metals projects and through the utilization of its gold milling facilities.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC. (NBRI)
Jared Lazerson
CEO
310-584-7278
info@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
Facebook: North Bay Resources Inc(NBRI) | Facebook
LinkedIn: North Bay Resources Inc(NBRI) | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
Image: https://www.globenewswire.com/newsroom/ti?nf=OTE1NTQyOSM2MzIxODU3IzIwMjc3ODg=
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Image: Primary Logo
Source: North Bay Resources Inc.(NBRI)
North Bay Resources Reports Assays up to >25% Mg, 0.1% Ni, 0.1% Cu, 0.01% Co, 0.3 ppm Pt at Tulameen Platinum Project, British Columbia
BISHOP, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has received assays from recent exploration conducted at its wholly owned Tulameen Platinum Project, British Columbia (the “Property”). Nine rock samples, analyzed using Aqua Regia - ICP whole rock analyses (ME-ICP41) at ALS Global Laboratory, North Vancouver, BC from exploration conducted in April of 2024, confirmed a magnesium hosted nickel-cobalt deposit with copper and platinum group metals. The property is known to host a large magnesium deposit consisting of olivine within a dunite core, a common host rock and indicator for nickel and other metals and gems. A historic resource by Diamet in the 1980’s estimated 15,000,000 tons of dunite in a single zone, primarily in the form of olivine (magnesium). There have been 4 additional zones identified.
April 2024 Exploration Assays:
Mg Ni Cu Co Ag Pt
% ppm ppm ppm ppm ppm
24TL-1 16.8 922 643 83 0.9 0.045
24TL-2 19.6 1110 1055 89 1.7 1% copper, 11.8 g/t silver and 0.22 g/t gold from a basalt fragment breccia containing pyrite, chalcopyrite & pyrrhotite from Zone B
Sample 19024 yielded >1% copper, 38.0 g/t silver and 0.24 g/t gold from gangue filled fractures in basalt from Zone B
Sample 27583 yielded >1% copper, 54.0 g/t silver and 0.12 g/t gold from an alteration zone in a pyritic diorite breccia from Zone C
Sample 27584 yielded >1% copper, 10.8 g/t silver and 0.08 g/t gold from pyrite and chalcopyrite bearing quartz veinlets in fractured basalt from Zone D
Noranda Surface Sampling 1988
Sample R-28001 yielded 1.3 g/t gold, 63 g/t silver, 5.1% copper from a select outcrop grab of massive sulphide in a basaltic breccia in Zone A
Sample R-28002 yielded 0.56 g/t gold, 26 g/t silver, 2.2% copper from a select outcrop grab of chalcopyrite vein in a basaltic breccia in Zone A
Sample R-28042 yielded 12 g/t gold, 28 g/t silver, 0.36% copper, from a select float grab of sulphidic basalt in Zone A
Sample R-28052 yielded 0.12 g/t gold, 17 g/t silver, 2.5% copper from a select matrix only outcrop grab sample from a mixed lithology breccia in Zone A
Sample R-44004 yielded 0.24 g/t gold, 27 g/t silver, 2.2% copper from a select outcrop grab sample of a fractured basalt with quartz and sulphides in Zone A
Sample R-43017 yielded 1.4 g/t gold, 17 g/t silver, 1.9% copper from a 1 m. square panel sample of sulphidic basaltic breccia in Zone A
Sample R-44028 yielded 0.74 g/t gold, 31 g/t silver, 3.8% copper from a select matrix only outcrop grab sample from a sulphidic basaltic breccia in Zone A
Sample R-27605 yielded 9.3 g/t gold, 125 g/t silver, 7.0% copper from a select outcrop grab of a sulphidic mixed lithology breccia in Zone D
Sample R-27606 yielded 6.9 g/t gold, 2.1 g/t silver, 0.23% copper from a select outcrop grab of a sulphidic mixed lithology breccia in Zone D
Sample R-28625 yielded 0.07 g/t gold, 83 g/t silver, 4.5% copper from a select outcrop grab of a sulphidic alteration zone in diorite breccia in Zone D
Sample R-28628 yielded 3.4 g/t gold, 54 g/t silver, 2.5% copper from a select outcrop grab of a sulphidic alteration zone with quartz veinlets in Zone D
Sample R-28010 yielded 4.8 g/t gold, 128 g/t silver, 5.7% copper from a select outcrop grab of a sheared, sulphidic basaltic breccia in Zone D
Sample R-28026 yielded 7.4 g/t gold, 0.5 g/t silver, 0.07% copper from a 0.27 m. chip sample from a sheared, quartz and iron oxide rich basalt in Zone D
Sample R-28089 yielded 9.0 g/t gold, 4.9 g/t silver, 0.26% copper from a select outcrop grab of a sulphidic basaltic breccia in Zone D
Sample R-28092 yielded 4.0 g/t gold, 31 g/t silver, 0.98% copper from a 0.88 m. channel sample of an altered, sulphidic shear in basalt breccia in Zone D
Sample R-28098 yielded 4.0 g/t gold, 16 g/t silver, 1.0% copper from a 0.19 m. channel sample of an altered shear zone in basalt breccia in Zone D
Sample R-28014 yielded 2.3 g/t gold, 22 g/t silver, 2.8% copper from a 0.1 m. channel sample of a sulphidic quartz vein in Zone D
Sample R-28120 yielded 5.0 g/t gold, 2.1 g/t silver, 0.13% copper from a 0.5 m. channel sample of a basaltic breccia in Zone D
Sample R-28122 yielded 10.4 g/t gold, 1.5 g/t silver, 0.13% copper from a 0.5 m. channel sample of a basaltic breccia in Zone D
Sample R-28123 yielded 4.3 g/t gold, 28 g/t silver, 1.4% copper from a 0.5 m. channel sample of a basaltic breccia in Zone D
Sample R-28124 yielded 4.4 g/t gold, 106 g/t silver, 5.9% copper from a 0.1 m. channel sample of a massive sulphide pod in a basaltic breccia in Zone D
Sample R-79784 yielded 8.5 g/t gold, 4.3 g/t silver 0.12% copper from a 5 m. chip sample of a sulphidic mixed lithology breccia in Zone D
Sample R-79797 yielded 1.1 g/t gold, 28 g/t silver, 2.8% copper from a sample of a sheared sulphidic quartz vein in basalt in Zone D
Tulameen Platinum, Magnesium, and Carbon Sequestration
Exploration at the Company’s 100% owned Tulameen Platinum Project is set to commence in the second half of April 2024. Historic assays by Imperial Metals resulted in two significant assays of 62g/t platinum and 31g/t platinum, including 4g/t gold. The property also contains a large magnesium deposit in the form of olivine and brucite, which is currently undergoing investigation for processing to magnesium oxide a widely used mineral with applications in the industrial, construction (wallboard and cement replacement), agricultural (fertilizer and animal nutrients), environmental (water treatment), and pharmaceutical (supplements) sectors. There is also great interest in the use of magnesium compounds, in particular the form of olivine and brucite, as occurs at Tulameen, for carbon sequestration. A large project is currently ongoing in Iceland, the world leader in geological carbon sequestration, utilizing magnesium compounds in situ. One tonne of olivine can bond with up to one-third of a tonne of CO2 making it one of the best natural carbon sinks. The global market for carbon sequestration price for carbon credits is in the $25 per tonne range, but this is heavily governed by local factors. The nearest carbon sequestration for British Columbia industry is out of Province in Alberta suggesting strong potential for a large scale storage facility and carbon credit creation and offset for industry in the western part of British Columbia due to the size of the deposit and potential monetization through existing carbon credit and offset programs. The Company anticipates providing further information on both the industrial magnesium compound and carbon sequestration potential of this project as developments occur. In addition, the Company will continue to focus on exploration for platinum group metals, in addition to copper, nickel and cobalt in and around the large olivine (Mg) deposit. Of note is the unique geology of the area, including, significant garnets and the historic report of a micro-diamond discovered in the southeast quadrant of the property.
Corporate Disclosure
The President and former CEO of the Company, Perry Leopold, has passed. The Company honors his many years of service to Northbay and the mining industry, in particular within the Province of British Columbia. Mr. Leopold leaves the Company with a strong portfolio of projects, including Murex Copper.
The Company CEO, Jared Lazerson has entered into an agreement to acquire certain Preferred Shares, by making payments to the Estate of Mr. Leopold, that upon completion would result in a change of control. An announcement will be made if and when a change of control occurs or is imminent.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.otcmarkets.com/stock/NBRI/news/North-Bay-Resources-Announces-Exploration-at-Murex-Copper-Targets-Historic-Drill-Holes-up-to-16m--61gt-Gold-and-Surface-?id=433219
North Bay Resources Announces Assays from Murex Copper Project up to 3.12% Cu, 60.3g/t Au, 141g/t Ag, and 8.11% ZnPress Release | 03/06/2024
SKIPPACK, Pa., March 06, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce previously unreleased assays (with the exception of sample #H619241) at its wholly owned Murex Copper Project (formerly Mt. Washington).
Fall 2023 Exploration consisted of geochemical and geological mapping in the North of the property, yielding the following assays:
#H619230 22.2g/t gold, 48.0g/t silver, 0.63% copper, 8.11% zinc
#H619231 5.11g/t gold, 24.4 silver, 0.93% copper, 0.42% zinc
#H619232 1.18g/t gold, 71.8g/t silver, 3.12% copper, 0.27% zinc
#H619241 60.3g/t gold, 141g/t silver, 0.62% copper, 6.76% zinc
#H619233 and #H619234 were outside the mineralized zone
Fall 2023 Exploration consisted of 6 rock chip samples covering the Lupus and Lakeview Zones. Rock chip sampling consisted of geochemical analysis at ALS Chemex Labs, North Vancouver, B.C. ALS method ME-MS61, ME-OG62, Cu-OG62, Zn-OG62, PGM-MS23, As-OG62, and Au-AA25.
Historic Exploration
Although completed by qualified Geologists and Engineers, historic results are not NI-43101 compliant.
In addition, to the gold and polymetallic zones in the North of the property, the Murex breccia zones are located in the central part of the property and are interpreted as a collapsed volcanic dome structure with shallow-dipping thrust faults cut by steeply dipping faults associated with polymetallic Cu-Ag-Au-As-Sb-Mo-Te bearing sulphide mineralization. Historic work identified a 700m X 700m area, the D Zone, along with the A Zone and E Zone, two breccia zones within a 1,200m X 3,000m area.
The property has been systematically explored, since 1957, by various operators including Noranda, now Glencore. Extensive previous exploration has occurred with the following significant drill intercepts:
Hole 69-10
82.3m @ 0.20% copper, 0.015% molybdenum and 3.3 g/t silver from surface to 82.3m
Hole 69-14
27m @ 0.22% copper, 0.005% molybdenum and 3.4 g/t silver from surface to 27.4m
Hole 73-3, assayed for copper only
120.2m @ 0.24% copper from 3.2m to 123m
Hole 73-6, assayed for copper only
60.3m @ 0.20% copper from 2.6m to 62.9m
Hole 74-2
46.5m @ 0.53% copper, 0.17g/t gold and 7.2g/t silver from 9.1m to 55.6m and
30.0 m @ 0.245% copper, 0.003g/t gold and 4.1g/t silver from 62.9m to 89.9m
Hole 74-3
57.1m @ 0.058% copper, 0.73g/t gold and 2.1g/t silver from 0m to 57.2m
Hole 86-1
16.0m @ 6.1 g/t gold, 4.2g/t silver and 0.17% copper from 1.5m to 17.5m
Hole 86-7
19.8m @ 0.22g/t gold, 9.9g/t silver and 1.5% copper from 29.4m to 49.2m and
6.8m @ 0.38 g/t gold, 21 g/t silver and 3.3% copper from 55.5m to 62.3m
Hole 86-1
16.0m @ 6.1g/t gold, 4.2g/t silver and 0.17% copper
Hole 88-19
16.0m @ 6.1g/t gold, 4.2g/t silver and 0.17% copper
There has been extensive trenching and surface sampling at the Murex zones grading up to 9% copper and over 100g/t gold.
Copper Island Project
The Company has completed exploration at the Copper Bell Zone where Summer 2023 Exploration resulted in assays up to 14.7% copper (see Press Release dated February 16th, 2024). Geological mapping and assays are now pending.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.otcmarkets.com/stock/NBRI/news/North-Bay-Resources-Announces-Assays-from-Murex-Copper-Project-up-to-312-Cu-603gt-Au-141gt-Ag-and-811-Zn?id=432575
North Bay Resources Announces Assays from Copper Island Project: 5.93% Cu Avg. at Pomeroy 1 Zone and 9.06% Cu Avg. at Copper Bell Zone
SKIPPACK, Pa., Feb. 22, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce previously unreleased assays (with the exception of sample 23CIR-7) at its recently acquired Copper Island Red-Bed Copper Project, located in British Columbia, Canada (press release dated February 16th, 2024). Further, the Company has mobilized for exploration and expects exploration to commence on or about February 26th, 2024. The focus will be the Copper Bell zone (up to 14.7% Cu).
The Company reports Summer 2023 exploration consisted of 8 rock chip samples covering the Pomeroy 1 and Copper Bell zones. The confidential data (B.C. Assessment Report 41377) was recently acquired as part of the property acquisition. Rock chip sampling consisted of sequential leach for oxide, sulphide and residual geochemical analysis. Copper sequential leach (ALS method Cu-PKG06LI involving sulfuric & cyanide leach) identifies oxide, sulphide and residual copper geochemistry. A total of 8 rock samples, ranging from 0.68-1.84 kilograms in weight, of acorn sized rock chips were taken with rock hammer and moil, and placed in marked poly bags and shipped to ALS Chemex Labs Ltd, North Vancouver, BC for Prep-31 & Cu-PKG06LI sequential leach for oxide, sulphide and residual geochemical analysis (Analysis certificate VA23177512):
Pomeroy 1
23CIR-3 7.46% Cu
23CIR-4 8.48% Cu
23CIR-5 4.51% Cu
23CIR-6 3.28% Cu
Average
33 % oxide Cu,
65.4% sulphide Cu
1.6 % residual Cu (native copper)
Copper Bell
23CIR-7 14.7% Cu
23CIR-8 3.42% Cu
Average
22 % oxide Cu,
76.5 % sulphide Cu,
1.5 % residual Cu (native copper)
23CIR-1 and 23CIR-2, taken outside the mineralized zones, generated nominal results.
Historic Exploration and Development Work
Considerable previous work has been performed on the Pomeroy Group copper-silver bearing mineralization. Modern exploration began in 1952-53, when Dodge Copper carried out a detailed exploration program of trenching and diamond drilling. Dodge Copper drilled 145 holes totaling 8800 feet on various deposits. Extensive drilling and trenching of the mineralized zones was completed by Prince Stewart Mines Ltd. in 1972-74. In 2011, the claims were acquired by Copper Island Mines Ltd, and a program of geochemical sampling was carried out on the Pomeroy, Beaver and Colleen Zones. A significant portion of geochemical sampling returned >2% Cu from numerous new & historic copper-silver bearing mineral occurrences (Betmanis, 2012). There are 9 British Columbia MINFILE locations within the Project area (press release dated February 16th, 2024).
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
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Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2774430
North Bay Resources Announces Acquisition of Copper Island Project with Assays up to 14.7% Cu and Appointment of New CEO
SKIPPACK, Pa., Feb. 16, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce that the Company has entered into an agreement to acquire a 100% interest in the 1056 hectare Copper Island Red-Bed Copper Project (the “Property” or the “Project”), located in British Columbia, Canada, The agreement (the “Agreement”), is between the Company and Copper Island Mines Ltd.(the “Vendor”). Recent geochemical exploration (Summer 2023) on the Property has yielded up to 14.7% Cu (B.C. Assessment Report 41377). The project is proximate to the Company’s Wolf Lake Project where recent sampling returned up to 3.12% Cu and up to 22 g/t Au.
Historic Exploration and Development Work
Considerable previous work has been performed on the Pomeroy Group copper-silver bearing mineralization. Modern exploration began in 1952-53, when Dodge Copper carried out a detailed exploration program of trenching and diamond drilling. Dodge Copper drilled 145 holes totaling 8800 feet on various deposits. Extensive drilling and trenching of the mineralized zones was completed by Prince Stewart Mines Ltd. in 1972-74. In 2011, the claims were acquired by Copper Island Mines Ltd, and a program of geochemical sampling was carried out on the Pomeroy, Beaver and Colleen Zones. A significant portion of geochemical sampling returned >2% Cu from numerous new & historic copper-silver bearing mineral occurrences (Betmanis, 2012).
Property Mineral Occurrences
Historic estimates were completed prior to NI 43-101, while completed by qualified geologists and/or engineers of their day they are historic in nature.
The following list describes historic resources of nine British Columbia Ministry of Mines, Energy, and Carbon Reduction MINFILE occurrences located within Copper Island mineral claims:
POMEROY 1:
16,500 tons @ 3.67% Cu
POMEROY 2:
PROVEN: 5,000 short tons @ 2.70% Cu
INDICATED: 17,000 tons @ 2.70% Cu
POMEROY 3+4
PROVEN: 972,400 short tons @ 1.22% Cu
INDICATED: 472,000 tons @ 1.62%Cu
POMEROY 5:
53,200 tonnes @ 1.00% Cu
BEAVER 1:
19,375 tons @ 1.74% Cu
HALL:
PROVEN: 5,000 tons @ 3.45% Cu
INDICATED: 50,000 tons @ 2.40% Cu
COPPER BELL 1 + 2: 112,000 tons @ 2.55% Cu
*Reserve Estimates - Sheppard, 1974. Prince Stewart Mines Ltd.
CEO Appointment
The Board of Directors has appointed Jared Lazerson as CEO and a Director of the Company replacing Perry Leopold. Mr. Leopold remains a Director of the Company. Mr. Lazerson has been involved in the mineral exploration and technology industries for 25 years. In 2018, Mr. Lazerson accepted the Standard & Poors Global - Platts Metals Award for Leadership in Base and Specialty Metals on behalf of MGX Minerals as its CEO. As CEO, Mr. Lazerson oversaw the financing of $60M in direct lithium extraction (DLE) and zinc-air battery technologies as well as exploration for magnesium, silicon, and gold including the discovery of the 8.1Mt Measured + Indicated Driftwood Creek Magnesite deposit with an in situ value of approximately $1.8B. In addition, Mr. Lazerson has been involved in diamond exploration while CEO of Margaret Lake Diamonds and a Director of Arctic Star Exploration and lithium exploration while at MGX and as a Director of Far Resources (now Foremost Lithium). Mr. Lazerson holds a BA in International Relations from the University of Pennsylvania.
Share Consolidation
A majority of the shareholders of the Company (80%) have approved a share restructuring involving a consolidation of common shares up to 1 new common share for every 500 existing common shares.
CEO Incentive Options and Compensation
The compensation package of the CEO is $180,000 per annum and 496,812,596 share purchase options at $0.0002, representing 10% of the current issued and outstanding shares, for a period of 3 years.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.globenewswire.com/newsroom/ti?nf=OTAzODc2MiM2MDc0NTE3IzIwMjc3ODg=
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Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2769525
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