North Bay Resources Inc. (NBRI): New Gold Targets Discovered at Ruby Mine
North Bay Resources Inc. (NBRI): New Gold Targets Discovered at Ruby Mine
SKIPPACK, PA--(Marketwired - Nov 25, 2013) - North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to report that additional and previously unknown gold targets have been discovered in the underground workings at the Ruby Mine in Sierra County, California.
Recent geological mapping has identified at least 4 new target zones. Two of these locations are believed to be newly-discovered extensions of previously-known gold-bearing channels, and two are entirely new discoveries, including one that has been named the "New Black Channel." The significance of the New Black Channel, the discovery of which is described in more detail in the geological findings below, is that it is directly adjacent to a section of the mine that has already produced over 58,000 ounces of gold, including the world-class C.L. Best Collection of Ruby Nuggets currently on display at the Los Angeles County Museum of Natural History.
As previously reported in a Company press release dated October 15, 2013, a digital geologic mapping survey led by Mr. C. Gary Clifton, P.Geo., has been ongoing since mid-September in the recently reopened sections of the Ruby tunnel. The survey is predicated on the belief that the underground placer gold at the Ruby Mine was deposited in pools or local depressions on the beds of ancient rivers that crossed the Ruby Mine property millions of years ago, and that the location of the pools can be predicted based on well-established principles of river morphology.
The initial results of the current phase of the mapping program have now been reported to the Company as follows:
Approximately 800 feet of the "old" Black Channel workings in the Ruby Mine are accessible at this time. This section has been mapped in great detail for geology and elevation of the bedrock surface, and the bottom of the ancient channel upon which placer gold was deposited.
Preliminary analysis confirms that the gold was deposit in pools (depressions in the bedrock surface) that are located periodically along the bottom of the channel. The distance between the pools is roughly the same, a very important consideration in mining. Placer deposits are characteristically patchy, but knowing the spacing between the rich patches (the pools) makes it possible to better predict where the gold will be found during mining.
Geologic mapping has determined that the ancient river that is now referred to as the Black Channel was diverted shortly after placer gold was deposited. Ancient tree stumps, tens of millions of years old, are present in the mine workings, their bases protruding from the bedrock surface, through the gold-bearing gravels, and into volcanic rocks and sediments that filled the channel thousands of years later. This means that the Black Channel was diverted to another route at the same time it was carrying gold millions of years ago. This new channel, what we now term the "New Black Channel," must cross the Ruby property near the present workings. It is assumed that it crosses over the Ruby tunnel close to where it is now believed that an extension of the Cincinatti Channel also crosses and intersects the Black Channel.
The Cincinatti Channel was previously mined at its upper end, so its location and direction of flow are well established. Earlier workers have estimated where it crosses the Ruby tunnel based on projection. Within the tunnel, this location is characterized by a section of wet, dripping rocks in the roof of the tunnel, a familiar feature of buried channels across the district because they act as aquifers. The Ruby tunnel has at least 4 such sections where a small amount of water is leaking in from above. Two of these locations are on the projection of known channels (the Cincinatti being one of them). The New Black Channel is a third and another previously unknown and as-yet unnamed channel the fourth. Each of these sections of the tunnel can be tested by drilling from within the tunnel. Maximum distance to any of these channels is estimated to be about 125 feet. A drill program is currently being planned, the goal of which is to intercept the gravels of these new channels that pass over the Ruby tunnel. Once located, drill holes will be placed at 20 foot intervals to each side of the discovery holes that define the shape of the bottom of the channel, the goal being to determine the deepest part of the channel (the gut). The gut is where placer gold would have been deposited and where a raise would be located to explore and mine the channel.
The Company notes that Mr. Clifton is currently importing the results of the mapping into a 3-dimensional mine modeling software package designed for this type of application. The resulting maps are expected to display the bedrock surface and the various sedimentary layers that fill the channel in 3 dimensions, a necessary prelude to deciphering what controlled the deposition of the gold in the channel, where the pools of gold will be found, and perhaps most importantly aid in the identification of the source of where the gold originated from.
The Company will release more findings from the underground mapping project as the analysis continues and more results become known.
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 1850s, and which is considered to be part of the northern extension of the historic Mother Lode system. The Ruby Property covers approximately 1,755 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 30 unpatented claims containing approximately 1,320 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 100% owned and royalty-free Ruby Mine is a fully-permitted underground placer and lode mine located in the northern extension of the historic Mother Lode system in Sierra County, California. 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 1,755 acres, only a small portion of which has been explored to date. The Company is presently completing the rehabilitation of the Ruby Tunnel and initiating test mining operations in the sections of the mine that are now accessible.
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
Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com
North Bay Resources Inc. (NBRI): New Gold Targets Discovered at Ruby Mine
SKIPPACK, PA--(Marketwired - Nov 25, 2013) - North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to report that additional and previously unknown gold targets have been discovered in the underground workings at the Ruby Mine in Sierra County, California.
Recent geological mapping has identified at least 4 new target zones. Two of these locations are believed to be newly-discovered extensions of previously-known gold-bearing channels, and two are entirely new discoveries, including one that has been named the "New Black Channel." The significance of the New Black Channel, the discovery of which is described in more detail in the geological findings below, is that it is directly adjacent to a section of the mine that has already produced over 58,000 ounces of gold, including the world-class C.L. Best Collection of Ruby Nuggets currently on display at the Los Angeles County Museum of Natural History.
As previously reported in a Company press release dated October 15, 2013, a digital geologic mapping survey led by Mr. C. Gary Clifton, P.Geo., has been ongoing since mid-September in the recently reopened sections of the Ruby tunnel. The survey is predicated on the belief that the underground placer gold at the Ruby Mine was deposited in pools or local depressions on the beds of ancient rivers that crossed the Ruby Mine property millions of years ago, and that the location of the pools can be predicted based on well-established principles of river morphology.
The initial results of the current phase of the mapping program have now been reported to the Company as follows:
Approximately 800 feet of the "old" Black Channel workings in the Ruby Mine are accessible at this time. This section has been mapped in great detail for geology and elevation of the bedrock surface, and the bottom of the ancient channel upon which placer gold was deposited.
Preliminary analysis confirms that the gold was deposit in pools (depressions in the bedrock surface) that are located periodically along the bottom of the channel. The distance between the pools is roughly the same, a very important consideration in mining. Placer deposits are characteristically patchy, but knowing the spacing between the rich patches (the pools) makes it possible to better predict where the gold will be found during mining.
Geologic mapping has determined that the ancient river that is now referred to as the Black Channel was diverted shortly after placer gold was deposited. Ancient tree stumps, tens of millions of years old, are present in the mine workings, their bases protruding from the bedrock surface, through the gold-bearing gravels, and into volcanic rocks and sediments that filled the channel thousands of years later. This means that the Black Channel was diverted to another route at the same time it was carrying gold millions of years ago. This new channel, what we now term the "New Black Channel," must cross the Ruby property near the present workings. It is assumed that it crosses over the Ruby tunnel close to where it is now believed that an extension of the Cincinatti Channel also crosses and intersects the Black Channel.
The Cincinatti Channel was previously mined at its upper end, so its location and direction of flow are well established. Earlier workers have estimated where it crosses the Ruby tunnel based on projection. Within the tunnel, this location is characterized by a section of wet, dripping rocks in the roof of the tunnel, a familiar feature of buried channels across the district because they act as aquifers. The Ruby tunnel has at least 4 such sections where a small amount of water is leaking in from above. Two of these locations are on the projection of known channels (the Cincinatti being one of them). The New Black Channel is a third and another previously unknown and as-yet unnamed channel the fourth. Each of these sections of the tunnel can be tested by drilling from within the tunnel. Maximum distance to any of these channels is estimated to be about 125 feet. A drill program is currently being planned, the goal of which is to intercept the gravels of these new channels that pass over the Ruby tunnel. Once located, drill holes will be placed at 20 foot intervals to each side of the discovery holes that define the shape of the bottom of the channel, the goal being to determine the deepest part of the channel (the gut). The gut is where placer gold would have been deposited and where a raise would be located to explore and mine the channel.
The Company notes that Mr. Clifton is currently importing the results of the mapping into a 3-dimensional mine modeling software package designed for this type of application. The resulting maps are expected to display the bedrock surface and the various sedimentary layers that fill the channel in 3 dimensions, a necessary prelude to deciphering what controlled the deposition of the gold in the channel, where the pools of gold will be found, and perhaps most importantly aid in the identification of the source of where the gold originated from.
The Company will release more findings from the underground mapping project as the analysis continues and more results become known.
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 1850s, and which is considered to be part of the northern extension of the historic Mother Lode system. The Ruby Property covers approximately 1,755 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 30 unpatented claims containing approximately 1,320 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 100% owned and royalty-free Ruby Mine is a fully-permitted underground placer and lode mine located in the northern extension of the historic Mother Lode system in Sierra County, California. 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 1,755 acres, only a small portion of which has been explored to date. The Company is presently completing the rehabilitation of the Ruby Tunnel and initiating test mining operations in the sections of the mine that are now accessible.
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
Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com
