North Bay Resources Inc. (NBRI) Set to Resume Operations at Ruby Mine
April 15 2013 - 8:15AM
Marketwired
North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the
"Company") is pleased to announce that operations at the Ruby Mine
are scheduled to resume on April 29, 2013.
As previously announced in a Company press release dated January
3, 2013, the Company had suspended operations for the winter due to
heavy snowfall in the upper elevations of the Sierra Nevada
Mountains where the Ruby Mine is located. The Company believes that
until the mine is in full production and better able to allocate
manpower and equipment to non-productive snow removal activities
during the winter season, it is best to conserve resources and wait
until weather conditions improve before resuming operations.
With the onset of spring in the Sierra Nevadas, recent road
checks have confirmed that conditions have now improved, and the
decision has been made to begin mobilizing for the resumption of
operations.
At the time the Company suspended operations for the winter, we
reported tremendous progress over the past year in preparing the
Ruby Mine for the start of production. Almost one mile of
underground tunnel has been completely refurbished with new timber
supports, new ventilation duct, and a redesigned transport system.
Infrastructure improvements include a new fire suppression system
at the Ruby portal, electrical system upgrades at the Ruby Portal
and Mill Site in compliance with Cal-OSHA specifications,
reinforcement of berms and access roads, and the expansion of the
designated tailings area to accommodate at least five to seven
years of continuous mining and milling.
As work resumes, we will initially conduct a property-wide
inspection and perform any surface maintenance tasks that may be
required following the winter layover. Once that is completed, the
crew will then resume their underground advance towards the 4900
Vein and the entrance to the Black Channel. As previously described
in a Company press release dated July 23, 2012, this section of the
tunnel from the Ruby Portal to the 4900 Vein is on the west side of
the Melones Fault, the primary controlling structure that defines
the Mother Lode System of Northern California. The geological
lithology of this western section is characterized by long
stretches of serpentinite, which is a brittle rock structure prone
to fracturing. To help enhance safe working conditions as well as
to ensure that mining operations are not interrupted from falling
rock from the serpentinite roof, a great deal of care is being
taken to retimber this stretch of tunnel as much as is deemed
prudent, and in some areas installing new timbering to further
reinforce the roof and ribs of the tunnel. This is a slow and
tedious process, and there still remain several hundred feet or so
of serpentinite to retimber before reaching the 4900 Vein.
Upon reaching the 4900 vein, we will cross over to the eastern
side of the Melones Fault and into the approach to the Black
Channel. It is worth noting that much of the gold produced from
vein deposits of the Mother Lode has been mined from the eastern
side of the Melones Fault, a geological structure that runs through
the entire length of the Ruby property. The geological lithology of
the eastern side of the Melones Fault is characterized as a slate
structure, which has an inherent stability that is more
self-supporting, and will not likely require nearly as much
timbering. We therefore expect the work to proceed at a faster pace
once we reach that section of the tunnel.
The Company will continue to issue progress reports as the Ruby
Tunnel Rehab Project moves forward towards completion and the
expected start of mining operations 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 1850s, 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 over 150 mineral and placer claims
encompassing approximately 60,000 acres throughout British
Columbia, Canada.
In the US, the Company owns the Ruby Gold Mine in Sierra County,
California, and is presently looking to acquire additional
operating mines in the western US.
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.
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 disclosures 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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