North Bay Resources Inc. (NBRI): Visible Gold Found in Soil Samples During Preliminary Phase One Exploration at Monte Cristo |
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North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to issue the following update on our Monte Cristo project in the Lillooet River Valley near Harrison Lake, British Columbia. In conjunction with our JV partner, Devlin's Bench Mining Ltd and P. Wright Contracting Ltd ("PWC"), the Company has engaged Ms. Agathe Bernard, B.Sc., as the consulting geologist supervising the Monte Cristo project. Ms. Bernard has a degree in Geology from Laval University in Quebec City, Canada, and has extensive experience in the planning, development, coordination, implementation, and supervision of geological and environmental programs, including exploration drilling, soil remediation, erosion control management and soil and water quality monitoring. Ms. Bernard has recently served as a consulting geologist for Xstrata, Eastmain Resources, and Astral Mining, amongst others. On February 14, 2012, the Company and PWC began an exploration and sampling program on the Monte Cristo property, under the supervision of Ms. Bernard. The initial goal of the work program was to verify the presence of submicron size metals in the sand material along the Lillooet River, which was previously indicated by work conducted in 1970 by G.L. Kirwin, B.Sc., and J.M. Ashton, P.Eng., as documented in BC Assessment Report 2589. Instead, the crew unexpectedly found an abundance of visible gold, with some particles as large as one millimeter. In her initial report from the field, Ms. Bernard stated, "The first round of soil sampling was exceptionally promising, showing visible gold flakes in 10 out of 17 samples collected. Most of the samples consisted of 60-90% fine to medium grained dark gray sand, with 10-30% sub angular light gray fine gravel. Most of the darker fraction correlated with high magnetite concentration, which is a favorable indication for gold accumulation at the site and is almost invariably present in placer gold deposits." The Company notes that Kirwin and Ashton never reported visible gold in their findings, and the Company therefore considers this a new discovery. This may also indicate that they missed the primary target, and the total resource may be much larger than they originally estimated. In addition, the Company notes that metal values in placer deposits often increase substantially with increase in depth towards bedrock, which in the case of the Monte Cristo is expected to be well over 100 feet below the surface. To find visible gold in near-surface samples is therefore considered quite significant. The first seventeen samples of black sand were concentrated on site using a Keen concentrator and reduced in volume by approximately 200 times to concentrate the fine part of the sample. The concentration was supervised by Ms. Bernard, and the samples were sent to ALS Labs in Vancouver for analysis. The assay results are expected back within a few weeks, at which time we will also learn if submicron size metals are also present in the samples |
North Bay Resources Inc. (NBRI): Visible Gold Found
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