Drilling Program Will Integrate Important New Findings
SKIPPACK, PA--(Marketwired - Mar 25, 2014) - North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to report that the gravity survey initiated in late January at the Ruby Mine in Sierra County, California has been completed.
The gravity survey was conducted by Magee Geophysical Services, with the assistance of Cranmer Engineering, Sierra Surveying, Inc., and Wright Geophysics.
Among its important findings, the survey shows:
- indications of a new previously-unknown channel near the Ruby Adit
- indications of terraces at the upstream end of the Cincinnati Channel
- the location of the Cincinnati Channel at 3 locations, providing an accurate position of where the channel crosses over the Ruby Adit
- the location of the Pilot Channel a short distance northeast of the Lawry Shaft
- the location of the Black Channel up to the Lawry Shaft
Pending confirmation by drilling, the survey demonstrates that channels buried at least as deep as 350 feet can be readily detected with gravity, although the exact elevation to the bottom of the channel cannot be determined with this method alone. The application provides a relatively inexpensive method for "prospecting" areas of the Ruby property where past mining or drilling is absent. This new information is being used by our geological team to provide more exact coordinates for drill placement at the various potential mining targets recently identified and immediately accessible within the Ruby Adit.
The Company also reports that the installation of 2,000 feet of new 4" diameter steel pipe to upgrade our compressed air capacity is set for completion today. As previously announced in a Company press release dated March 7, 2014, the installation of this new airline was a crucial step required to prepare and support an effective drilling program, as it was essential to increase our compressed air capacity to run the drill and other equipment without depriving other work areas in the mine of this vital energy source. Following completion of the pipe installation by the end of today, we expect drilling to begin tomorrow.
In the coming days we will confirm that drilling has begun, and we will provide a more in-depth discussion about the drilling targets at that time.
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 1850's, 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 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 subsidiary, Ruby Gold Inc., owns and operates the Ruby Mine in Sierra County, California. The Ruby Mine is a fully-permitted underground placer and lode mine located in the northern extension of the historic Mother Lode system. 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.
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 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
