North Bay Resources Inc. (NBRI): Initial Bulk Sample Extracted From
White Channel at Ruby Mine; New Potential Discovery Reported
SKIPPACK, PA--(Marketwired - Jan 22, 2014) - North Bay Resources
Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to
report that approximately 60 tons of mineralized material has been
extracted from the White Channel and is presently being stockpiled
at the Ruby Mill. By this time next week it is expected the
size of the initial bulk sample will have increased to
approximately 100 tons, at which point the material will begin to
be processed and tested.
The Company also reports that a system of underground terraces
has been detected above the Black Channel, and these may be of
considerable length and significance. The geologic mapping
survey currently being led by Mr. C. Gary Clifton, P.Geo., has
determined that certain areas mined in the early 1940s up and
downstream of the Big Bend were on benches or terraces about 10
feet above the bottom of the Black Channel. Many of the large gold
nuggets discovered in the mine came from the Black Channel
workings, suggesting that other terrace deposits -- yet to be
discovered along and above the mined areas of the Black Channel --
could contain rich deposits of placer gold.
In further illustration of the significance of these terraces,
Mr. Clifton explains, "Terraces are a common feature of all river
systems, large and small. As rivers flow towards their outlet into
larger rivers or the ocean, they deposit sand and gravel to each
side of the river channel. Later, as the river cuts down, these
deposits are stranded on benches (terraces) above the river. As the
river cuts deeper, a second set of terraces may be produced, and so
on. Depending on the history of the river, the terraces may be
destroyed or preserved all or in part. In the California Mother
Lode, present-day rivers contain short stretches of terraces 20 to
100 feet above present-day river levels, and many of these
contained very rich deposits of placer gold. At the Ruby Mine,
remnants of terraces appear to be present along many of the buried
channels that cross the property, further increasing the readily
accessible mining targets on the property."
The search to pinpoint these new terrace locations will begin
this week with precision gravity surveys over selected sections of
the Black Channel and neighboring channels that are accessible from
the Ruby Adit, such as the Cincinnati Channel. Analysis of
elevation data in old maps of the Black Channel suggest that at
least two sets of terraces, one above the other, exist along the
Black Channel in certain areas. It is believed that these terraces
may be thousands of feet in length, thereby providing large and
potentially rich targets for future mining.
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 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 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
1850s, 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
North Bay Resources (PK) (USOTC:NBRI)
Historical Stock Chart
From Sep 2024 to Oct 2024
North Bay Resources (PK) (USOTC:NBRI)
Historical Stock Chart
From Oct 2023 to Oct 2024