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, where
visible gold has been found and confirmed in the newly-discovered
South Terrace.
As previously announced in a Company press release dated July
17, 2014, the recent underground drilling program at the Ruby Mine
intersected buried river gravels in 3 vertical drill holes spaced
approximately 150 feet apart, for a total expanse of at least 300
feet. The gravels are located approximately 60 feet above the adit
level and 25 feet above the base of the White Channel, which is
located about 100 feet away. The gravels are interpreted to be on a
terrace or bench on the south rim of the White Channel. In the
1880's, a terrace on the north side of the White Channel, at the
same elevation as the recently discovered terrace, was successfully
mined for gold. The two terraces are interpreted to be of the same
age, and have been designated the North and South Terraces, with
the South Terrace being previously unknown and unmined. A raise to
access the South Terrace is currently under construction.
Concurrent with the start of the raise construction, a
successful attempt was made to reenter drill hole C-2, which
penetrated the South Terrace at the lowest elevation and remains
open. The goal was to collect a larger sample of the terrace
gravels than was collected during drilling. Using a string of
one-inch diameter PVC pipe fitted with a 90-degree nozzle at the
top and a water fitting at the bottom, the pipe was fed into the
drill hole length by length until the top of the basement rocks was
reached. Water was then pumped through the pipe, washing sand and
gravel back down the hole where 5 pounds of material was collected
and recovered. The coarser material was found to include rounded
quartz and chert cobbles to 2 inches in diameter, the largest
material that could fit in the drill hole and pass by the PVC pipe.
The recovered sand and gravel was then carefully panned, and
several small pieces of visible gold were found. The gold was
elongated and little rounded, indicating that it has not traveled
far from its source. Arsenopyrite and small quartz crystals were
also abundant in heavy fraction.
The clear evidence of visible gold in the 5-pound sample
demonstrates that gold is indeed present in the South Terrace,
similar to the records for the North Terrace. While bulk sampling
will need to be done once the raise is completed before the South
Terrace can be determined to contain an economically recoverable
resource, this is encouraging news that provides additional
justification to complete the new exploratory raise at C-2 into the
South Terrace and allow these previously unknown and unmined
gravels to be bulk sampled.
In other news, exploration work in the southern extent of the
Black Channel began in early July, and approximately 2 ounces of
specimen gold have been recovered from approximately 3 tons of
loose material aggregated from various locations. Several of
the larger nuggets have been appraised as jewelers grade and are
expected to be sold for a substantial premium over spot
prices. As well, exploration and bulk sampling in the White
Channel has resumed, and approximately 2 additional ounces of gold
has been recovered thus far.
We also report that the Big Bend Raise is presently undergoing
additional engineering work that is deemed necessary to secure the
accessway. Work in the northern extent of the Black Channel
is on hold until this work is completed and the raise is fully
operational.
At the end of July we expect to make our first shipment of gold
to our refiner, Metalor USA. This will consist of 3.2 ounces
of fine gold recovered from both the White Channel and the Black
Channel, which will allow us to determine an initial baseline
average purity of the fine gold produced from the Ruby.
Another 3.08 ounces of specimen gold recovered thus far has been
set aside to build inventory for sale at premium prices to local
jewelers and collectors.
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 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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