SKIPPACK, PA--(Marketwired - Apr 15, 2013) - North Bay Resources Inc. (
As previously announced in a Company press release dated January 3, 2013, the Company had suspended operations for the winter due to heavy snowfall in the upper elevations of the Sierra Nevada Mountains where the Ruby Mine is located. The Company believes that until the mine is in full production and better able to allocate manpower and equipment to non-productive snow removal activities during the winter season, it is best to conserve resources and wait until weather conditions improve before resuming operations.
With the onset of spring in the Sierra Nevadas, recent road checks have confirmed that conditions have now improved, and the decision has been made to begin mobilizing for the resumption of operations.
At the time the Company suspended operations for the winter, we reported tremendous progress over the past year in preparing the Ruby Mine for the start of production. Almost one mile of underground tunnel has been completely refurbished with new timber supports, new ventilation duct, and a redesigned transport system. Infrastructure improvements include a new fire suppression system at the Ruby portal, electrical system upgrades at the Ruby Portal and Mill Site in compliance with Cal-OSHA specifications, reinforcement of berms and access roads, and the expansion of the designated tailings area to accommodate at least five to seven years of continuous mining and milling.
As work resumes, we will initially conduct a property-wide inspection and perform any surface maintenance tasks that may be required following the winter layover. Once that is completed, the crew will then resume their underground advance towards the 4900 Vein and the entrance to the Black Channel. As previously described in a Company press release dated July 23, 2012, this section of the tunnel from the Ruby Portal to the 4900 Vein is on the west side of the Melones Fault, the primary controlling structure that defines the Mother Lode System of Northern California. The geological lithology of this western section is characterized by long stretches of serpentinite, which is a brittle rock structure prone to fracturing. To help enhance safe working conditions as well as to ensure that mining operations are not interrupted from falling rock from the serpentinite roof, a great deal of care is being taken to retimber this stretch of tunnel as much as is deemed prudent, and in some areas installing new timbering to further reinforce the roof and ribs of the tunnel. This is a slow and tedious process, and there still remain several hundred feet or so of serpentinite to retimber before reaching the 4900 Vein.
Upon reaching the 4900 vein, we will cross over to the eastern side of the Melones Fault and into the approach to the Black Channel. It is worth noting that much of the gold produced from vein deposits of the Mother Lode has been mined from the eastern side of the Melones Fault, a geological structure that runs through the entire length of the Ruby property. The geological lithology of the eastern side of the Melones Fault is characterized as a slate structure, which has an inherent stability that is more self-supporting, and will not likely require nearly as much timbering. We therefore expect the work to proceed at a faster pace once we reach that section of the tunnel.
The Company will continue to issue progress reports as the Ruby Tunnel Rehab Project moves forward towards completion and the expected start of mining operations this summer.
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. (
In the US, the Company owns the Ruby Gold Mine in Sierra County, California, and is presently looking to acquire additional operating mines in the western US.
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.
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 disclosures 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
