SKIPPACK, PA-- January 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
North Bay Resources Inc.
SOURCE: North Bay Resources Inc.