North Bay Resources Unveils Gold Discoveries at Fran Project
North Bay Resources, Inc. (the "Company" or "North Bay") (OTC: NBRI), is excited to share the recent assays highlighting 0.5 ounces per ton of gold from a massive sulphide outcrop in the Fran Gold Project. This promising gold zone is strategically situated between Trenches B and C, showcasing dimensions of 30 meters North-South by 40 meters East-West and extending greater than 4 meters deep, accumulating around 15,000 tons of potential gold yield.
Test Mining Initiatives Underway
The Company is gearing up for test mining, mobilizing crews to the site in anticipation of commencing operations shortly. They plan to ramp up activities to efficiently transport gold ore to the Bishop Gold Mill for processing.
Fran Stockpile Insights
Recent extensive grid assays of the historic Fran Gold stockpile revealed a downward trend in gold grade at depth. Initial surface grades reported at 0.34 ounces per ton (10 grams per tonne) have transitioned to 0.03 ounces per ton (1 gram per tonne) at depth. Although this has resulted in lower gold outputs per ton, the overall recovery rate is impressively estimated at approximately 80% when utilizing gravity separation techniques. The Company has identified the 0.5 ounces per ton massive sulphide zone between Trenches B and C as a primary target for immediate development.
The historic stockpile is currently estimated at 4,200 tons, with a value projection around $420,000 at gold pricing of $3,300 per ounce. The Bishop Gold Mill is operating with high efficiency and demonstrates excellent compatibility with Fran Gold ore, enhancing recovery techniques through centrifuge methods.
Refinery Settlement Details
In addition to mining operations, North Bay has achieved a preliminary settlement linked to the shipment of 518 pounds of gold concentrate processed at the Bishop Gold Mill. The recovery rate for this shipment approximated 80%, based on processing 28 tons with a head grade of 0.03 ounces per ton (1 gram per tonne) Au.
Exciting Discoveries at Hilltop Zone
Exploration efforts in the Hilltop Zone, located to the south of the Fran Project’s Main Zone, have led to the discovery of significant outcrops yielding assays of 0.1 ounces per ton (2.9 grams per tonne) across substantial widths. This reinforces historical data that identified gold concentrations up to 30 grams per tonne in this region. The Hilltop Zone’s potential significantly expands the mineralized area within Fran, linking further to the main North-South fault where the richest deposits interface.
Strategic Development of Fran Gold Project
Capitalizing on the newly discovered bulk tonnage deposit, North Bay is taking a comprehensive approach to advance the Fran Gold Project. This includes harnessing feedstock from the high-grade surface oxide zone and initiating exploration efforts in the areas between the Main Bullion Alley Zone, East Zone, and the re-established Hilltop Zone.
The next steps include consultations with a Mine Engineering firm to assess detailed economic feasibility, mining plans, and construction strategies. Comparative mining costs suggest an advantage at the nearby Blackwater Gold Mine, which operates at about $9 per ton processed. This is favorable compared to the Fran resource estimates of approximately 20 million tons at a grade of 0.5 grams per tonne, positioning the Company for productive operations.
Extensive exploration conducted through over 18,000 meters of diamond drilling has confirmed significant intercepts of both mixed vein and disseminated gold deposits. The identified deposit area measures over 1,000 meters long, 100 meters wide, and reaches depths of 300 meters, all within a known 1,700-meter strike length. The proximity of the Fran Gold Project to major players like Centerra Gold and Artemis Gold highlights its significance within North America's mining landscape.
This marks an exciting chapter for North Bay Resources as they navigate new mining operations and exploration ventures. An efficient and strategic approach will enable the Company to maximize their resource capabilities and enhance their position in the market.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
For inquiries, please reach out at info@northbay-resources.com. Learn more about us by visiting northbay-resources.com.
Frequently Asked Questions
What recent gold assay results were announced by North Bay Resources?
North Bay Resources announced assays showing 0.5 ounces per ton of gold from a massive sulphide outcrop at their Fran Gold Project.
What is the status of test mining operations?
The Company is mobilizing crews to commence test mining operations at the Fran Gold Project soon.
How has the Fran Gold historic stockpile been assessed?
Recent assessments indicate a drop in grade at depth, transitioning from 0.34 ounces per ton to 0.03 ounces per ton at depth.
What has been discovered in the Hilltop Zone?
Assays from the Hilltop Zone indicate gold concentrations of 0.1 ounces per ton, expanding the mineralized area within the Fran Project.
What is the company’s next step for development?
The Company is working with a Mine Engineering firm to develop detailed economic plans and construction strategies for the Fran Gold Project.
