North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to issue the follow progress report on our exploration efforts at the Ruby Mine in Sierra County, California, where mining is set to begin in the Black Channel this week.
Underground work at the Ruby Mine is presently focused on four concurrent headings. These include continued mining in the White Channel, driving the South Terrace Raise to the recently discovered terrace gravels, reinforcing and securing the entryway to the recently-constructed Big Bend Bypass Raise to the old workings upstream of the Big Bend, and the start of mining as well as continued exploration in the old workings downstream of the Big Bend in the southern extent of the Black Channel.
Mining in the Black Channel will begin this week, and will be initiated by driving a crosscut through pillars near the China Chute. The crosscut will allow easier access to the old workings, and will cut through some of the richest channel gravels downstream of the Big Bend. The crosscut will start at the top of the China Chute and run upstream for approximately 60 to 100 feet, cutting through 2 or 3 pillars. It is anticipated that the crosscut will produce significant gold. This area of the channel was extensively mined by previous operators, but large pillars up to 40 feet thick were left between old workings.
Also within the Black Channel, an ongoing exploration effort to locate additional mining targets has been underway within the old workings. Compressed air pipe and water lines have been extended and installed that allow for a portable sluice box to be moved from place to place. The miners locate prospective areas by metal detector or clues gained from experience and excavate the rock by pick or, at times, blasting. Gold recovered from specific locations is photographed and cataloged for the purpose of identifying the number of types and sources of gold.
The Company also reports that new gravels have been successfully intersected above the Black Channel as a result of a drill program that began two weeks ago and which is yielding positive results. This effort consists of long hole drilling with a standard air leg drill. These short holes, generally up to the 30 to 34 foot limit of the drill, are exploring for terrace gravels on the south rim of the Black Channel. At the Big Bend, terrace gravels were present 15 to 25 feet above the outer or south rim of the channel. We are attempting to locate the continuation of these terraces downstream, between the Big Bend and the China Chute. Six holes have been drilled to date, three of which successfully penetrated gravels. The elevation of the gravels indicates they are high gravels within the main Black Channel, not terrace gravels. The drilling will continue concurrent with the crosscut mining underway this week.
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
North Bay Resources Inc.
SOURCE: North Bay Resources Inc.