North Bay Resources Inc. (NBRI) Issues Ruby Mine Progress Report
May 27 2014 - 1:50PM
Marketwired
North Bay Resources Inc. (NBRI) Issues Ruby Mine Progress Report
SKIPPACK, PA--(Marketwired - May 27, 2014) - North Bay
Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is
pleased to issue the following progress report of the work ongoing
at the Ruby Mine in Sierra County, California.
The Big Bend raise is expected to be completed by the end of
next week. Longhole probing in advance of the raise has
successfully tested the ground conditions in front and the sides of
the work face, and the crew has been able to verify that the raise
will punch through straight ahead into a stable section of the
Black Channel where the ground support has been confirmed to be
good. Upon completion, the raise will have been driven for 145
feet at a 55 degree incline, from the end of the Contractor's Drift
and the Ruby Tunnel haulageway directly into the Black Channel just
north of the Big Bend area.
In other news, a proposal from a drilling contractor has
recently been accepted, and a new drill is tentatively set to be
deployed on-site the week of June 9, 2014 once the final details
and logistics are worked out. Over the past several weeks the
crew has installed dozens of drill stations at key locations within
the Ruby Tunnel to improve the efficacy of the new drill. The
goal of the drilling program is to test and verify the depth and
width of 7 new mining targets identified as a result of recent
geophysical surveys and geological mapping. The close
proximity of these targets above the existing 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.
We also report that over the past few weeks an additional 3,500
feet of new 4" steel pipe has been installed to further improve the
compressed air capacity within the Ruby tunnel. This completes
the replacement and upgrade of the compressed airline with a total
of 5,500 feet of new airline, marking a significant improvement of
the Ruby Tunnel's underground infrastructure.
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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