SOURCE: North Bay Resources Inc.
SKIPPACK, PA--(Marketwired - Oct 15, 2013) - North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to announce that the Company has resumed a comprehensive state-of-the-art digital mapping survey of the geological structures containing the gold deposits at the Ruby Mine. This survey was initiated in 2011 when the Ruby was first acquired, and was put on hold until the rehab of the Ruby Tunnel progressed to the point where the tunnel was reopened to the extent that many of the known underground mining targets became accessible. With the recent success in reopening the tunnel to provide access to the Big Bend and Black Channel approximately one mile within the mine, the Company has resumed the mapping project it originally envisioned.
As explained in a Company press release dated June 6, 2011, it is believed 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. Prediction requires recording the relative elevation of the riverbed at high resolution. This is done by using laser instruments to survey the bottom of the riverbed exposed during previous mining operations. These instruments are accurate to within fractions of a centimeter, and every survey point is recorded digitally in three-dimensional space. The data is then compiled into a database using state-of-the-art software specifically designed for the mining industry, resulting in the rendering of a three-dimensional map of the buried river channels.
To establish the procedures for recording this information and creating digital 3-D maps of the bedrock surface, the Company is presently surveying the underground workings at high resolution. These procedures will also form the basis for day-to-day mine mapping when full production begins. The detailed survey information coupled with careful geologic mapping should provide a detailed picture of the drainage system in the channels and how and where gold was deposited within it. The study of the workings will also provide the basis for understanding the river sediments in the remainder of the mine as it is opened up, with the additional goal of discovering new auriferous channels that may be present but have thus far gone undetected by previous mining and geological studies.
The digital mapping survey is being led by Mr. C. Gary Clifton, P.Geo. The Company notes that it was during the course of the mapping survey last week that Mr. Clifton, with the assistance of the Ruby's lead miner, Mr. Charles Johnson, recovered the first ounces of specimen gold in an area toward the south end of the Black Channel workings, as reported in the Company press release dated October 10, 2013. A small amount of additional gold was also recovered late last week as the underground mapping continues.
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 1850s, 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