North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") reports that a portion of the concentrates from the 2ndWhite Channel bulk sample run last month at the Ruby Mine in Sierra County, California, has been processed, and an additional 25 grams of fine gold has been recovered. This brings the total yield from the recent 60 ton bulk sample to 1.6 ounces gold to date, for a 100% increase over the previous reported yield.
Additional concentrates remaining from the bulk sample run will be processed shortly, which again may increase the total yield from the bulk sample before the assessment is finalized. We are encouraged that the virtual doubling of the yield thus far brings the White Channel much closer to potentially being an economical resource at current metal prices. Accordingly, management has determined that further evaluation of the White Channel should be undertaken after our current drilling project is completed and the portion of our crew that is not working at the Big Bend raise can be redeployed from their current drill station support duties to other tasks. In the interim, a portable test plant has been brought on-site to further test the material from both the White Channel and the Black Channel in smaller measured amounts that can be closely monitored throughout the recovery process.
We note that these White Channel bulk sample concentrates have been in storage since early May awaiting the use of a new Ultra High Frequency (UHF) Concentrator table that we believe will allow the processing of our concentrates more quickly and efficiently to obtain maximum yields. Rather than continue to wait for its availability, we have now processed a portion of the White Channel bulk sample concentrates by hand. Manual processing is a very time-consuming and labor-intensive task, albeit also very efficient. We hope to have the UHF table available for use by the time the next bulk sample is ready to be processed. In the meantime, the remaining concentrates from the 2nd White Channel bulk sample will continue to be processed manually to obtain a final assessment of the total yield.
In other news, the drilling program that recommenced on June 9, 2014, is still ongoing. We also note that the mining crew was increased last month and began working 7 days per week in 2 split shifts. The drilling has been conducted nightly during an additional night shift, and as a result we have been working 24/7 while the drilling remains in progress. Thus far we have drilled 10 holes at various key locations above the Ruby Adit for a total of 1,074 feet. We expect to drill at least 600 to 1,000 more feet before the drilling program is concluded.
We also report that the Big Bend raise is currently being timbered to reinforce the ground support and secure the accessway. A bulkhead has been installed, and the raise is being compartmentalized to provide an ore chute to the Ruby tunnel haulageway. As our geological team is presently working the night shift to monitor the drilling project fulltime, we expect the Big Bend raise timbering to be completed around the same time the drilling program is winding up later this month, at which point our geological team will turn their attention to the evaluation of the Black Channel. In the event we also make the decision to resume mining in the White Channel, we are now in position to potentially have at least two mining headings in operation simultaneously 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 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
North Bay Resources Inc.
SOURCE: North Bay Resources Inc.