North Bay Resources Advances Gold Milling Operations Efficiently
North Bay Resources Initiates Operations
North Bay Resources Inc. (OTC: NBRI) is thrilled to announce an important milestone—the arrival of its inaugural gold ore shipment from the Fran Gold Project. This signifies the start of test milling operations at the Bishop Gold Mill. Today marks the beginning of a meticulous process where the company will optimize milling techniques for the extraction of gold from ore.
Test Milling Operations for Gold Extraction
The initial phase of these operations focuses on utilizing the jaw crusher to reduce ore size to less than half an inch. This crushed material will then be fed into a ball mill, where it will be further reduced to a fine consistency necessary for effective extraction.
Gravity Separation and Flotation Processes
After achieving the desired ore consistency, the mixture will be transformed into a slurry and directed to a gravity separation table for the extraction of free gold and other valuable metals. The next step involves optimizing flotation cells and formulating reagents to improve recovery rates. A secondary gravity table will be used to enhance the flotation concentrate, ensuring the highest quality output. The extracted free gold, alongside any other precious metal concentrate, will be melted onsite, resulting in high-grade Dore bars suitable for banking or shipment to a specialized refinery.
Material Shipment and Future Plans
The first shipment comprised 22 tons of surface material, meticulously placed into super-sacks and transported via flat-bed tractor trailers. This material has been tested and graded at 1.2 to 2.3 ounces of gold per ton. There is a significant reserve of approximately 5,000 tons available for imminent shipment, with even larger amounts identified in near-surface trenches through previous diamond drilling efforts.
Management Collaboration with the Sabean Group
In a strategic move, North Bay Resources has engaged the Sabean Group for media and management consulting. The Sabean Group, helmed by industry veteran Tim Sabean, boasts extensive expertise in media content development, having previously founded the Howard Stern Channels on SiriusXM. The team includes Gil Edwards, who has a robust background in media brand development, and Jim Keller, a CPA with over 35 years of leadership experience. Al McGowan, renowned for his record of raising capital for high-growth companies, adds further strength to this consultancy team.
Environmental Measures and Technical Updates
The environmental integrity of the Bishop Gold Mill is paramount, as validated by a recent tailings pond inspection from NewFields, which reported no issues with the liner. Additionally, SRK Consulting (Reno) is currently finalizing a de-watering plan and updating the waste management and closure financial projections to comply with regulatory requirements.
Cost Management Strategies in Transportation
Transportation costs for moving materials from the Fran Gold Project to the Bishop Gold Mill currently average $150 per ton. However, plans are in place to acquire off-road transport equipment that will reduce these costs significantly. In the long term, the company aims to replace conventional trucking with low-cost rail options, aligning their expenses with industry standards.
Progress at Mt. Vernon and Taber Gold Mines
The contractor for the Mt. Vernon Gold Mine has filed the necessary operating plan with the Federal Mining Authority and anticipates commencing operations soon. The extraction process for a 500-ton high-grade bulk sample is being updated based on advanced 3D modeling, with site preparations scheduled to begin thereafter.
Ongoing Development at Taber Gold Mine
In parallel, mining crews are focused on the rehab of the Wild Boar Zone, located approximately 700 feet within the Taber Gold Mine. The reconstruction involves reinforcing the tunnel with steel and timber while clearing the historical Wild Boar shaft. Sampling from the three known mining faces is set to commence following the completion of these vital rehabilitation efforts.
Corporate Updates and Future Incentives
The Sabean Group will receive 100 million incentive share purchase options with a two-year validity at a strike price of $0.0006. Starting in January, they will also receive a monthly payment of $20,000 for one year. An additional 100 million incentive share options may also be issued in January 2025, dependent upon an agreed reduction in cash compensation at that time.
Frequently Asked Questions
What is the significance of North Bay Resources' first gold ore shipment?
The first gold ore shipment marks the beginning of milling operations, showcasing the company's progress in gold extraction.
Who is involved in the management consulting for North Bay Resources?
The Sabean Group, led by Tim Sabean, provides media and management consulting services to strengthen the company's brand and operations.
What methods will be used for gold extraction at the Bishop Gold Mill?
Gold extraction involves crushing ore, gravity separation, and flotation processes to maximize recovery rates.
How are transportation costs being managed for gold ore transport?
The company is focusing on acquiring off-road transport equipment to reduce high transportation costs currently incurred.
What updates are available for the Mt. Vernon and Taber Gold Mines?
The Mt. Vernon Gold Mine is set to start operations, while ongoing rehabilitation efforts continue at the Taber Gold Mine.
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