Navigating Growth with North Bay Resources at Fran Gold Project
BISHOP, Calif. – North Bay Resources, Inc. (the “Company” or “North Bay”) (OTC: NBRI) is thrilled to report the culmination and settlement of the Company’s second and third gold concentrate test shipments processed at the Bishop Gold Mill from its Fran Gold Project. The recent developments in April have ushered in promising operational changes and further explorations that aim to boost productivity.
Recent Shipment Highlights
In April, the Company successfully shipped a total of 667 wet pounds of gold concentrate to its refinery partner, Just Refiners. The shipments, labeled as the second and third gold concentrate test shipments, consisted of approximately 8 and 4 gross tons processed. These efforts reflect a steady average recovered grade that indicates potential for future shipments.
The specifics of the shipments detail significant insights:
- **Shipment #2:** Weighing 265 wet pounds with a moisture content of 16.20%.
- **Shipment #3:** Weighing slightly more at 342 wet pounds, improved with moisture reduced to 7.15%.
This momentous decrease in moisture illustrates the effectiveness of the newly implemented drying circuit, which has improved product quality significantly.
Operational Improvements at Bishop Gold Mill
The Bishop Gold Mill's operations are continuously evolving. Following the recent upgrades to the raker/classifier, the consistency of the material feeding into the centrifuge has markedly improved, contributing to enhanced gold production per ton. The adjustments made throughout April were necessary to eliminate breakdowns, leading to a faster gear-up for expected deliveries.
Looking forward, the Company aims to ramp up production even further, targeting increased deliveries of 100 tons per week in the near term, eventually scaling to 100 tons per day. Considerable attention is also being given to the flotation circuit, with plans to augment it with an additional mixing tank. This new addition is anticipated to bolster the recovery process of gold concentrates.
Strategic Developments at Fran Gold
As mobilization at the Fran Gold Project gains momentum, the Company is preparing for excavation and exploration activities. Teams are set to arrive soon, engaging in work that encompasses multiple criteria for ore development and stockpiling. The core focus remains on maximizing the per-ton values from stockpiles, a strategic move intended to boost overall mill efficiency.
In view of upcoming mining phases, the Company plans to delve deeply into surface trenches B + C and trench A, which have historically shown promising grades of about 0.5 ounces per ton across significant distances.
Expanding Exploration at Fran Gold
Backed by recent findings, North Bay has designed a two-pronged approach for the Fran Gold Project. The intent is to explore between the Main Bullion Alley Zone and the East Zone while simultaneously assessing anomalies showing copper and gold presence. Continuous testing has brought to light a significant increase in copper grades, emphasizing the underlying potential of this area.
The comprehensive geological assessments have proven the Fran Gold Deposit—a project that already holds an impressive resource estimate (non-NI 43-101). The detailed findings include:
- Over 20 million tonnes at an average of 0.50 grams per tonne, amounting to over 323,000 ounces of gold.
- Key exploration zones are adjoining significant mining operations lending further credibility to the project.
Future Prospects and Development Plans
With the gold price hovering around $3,100 per ounce, the gross value from the known reserves of the Main Zone at Fran is estimated to justify the ongoing development strategies. The Company is now in consultation with mining engineering firms to refine mine planning and economic assessments for scalable operations.
Historical drilling in the area—spanning over 18,000 meters—has unveiled substantial intercepts indicating the broad potential of the projected mining site. Comparatively, the proximity to bold projects like Centerra Gold's Mt. Milligan and Artemis Gold's Blackwater Mines strengthens North Bay’s position in the competitive mining landscape. “Positioned near some of the largest copper and gold mines in North America, our Fran Gold Project is set for a bright future,” stated Jared Lazerson, the Company’s CEO.
Frequently Asked Questions
1. What does North Bay Resources primarily focus on?
North Bay Resources is engaged in gold mining and exploration, particularly focusing on its Fran Gold Project.
2. What were the results of the April gold concentrate shipments?
North Bay shipped a total of 667 wet pounds, showing improved moisture content and gold recovery grades.
3. When will mobilization at the Fran Gold Project begin?
Mobilization for development is set to start in early June.
4. What improvements were made to the Bishop Gold Mill?
The Company has made significant upgrades to the raker/classifier and introduced a drying circuit, enhancing product quality and output.
5. How does North Bay Resources intend to increase production?
North Bay aims to ramp up deliveries to 100 tons per week, then transition to full-scale commercial production of 100 tons per day.
