SKIPPACK, PA--(Marketwired - Oct 25, 2013) - North Bay Resources Inc. (
The Brett West claims are directly adjacent to and partially surround the Brett occurrence (MINFILE 082LSW110) where 11,970 tonnes grading 39.12 grams per tonne gold have been previously indicated by surface drilling and underground work. The Brett occurrence was initially indicated by low transport gold particles found in HMC (Heavy Metal Concentrates) samples from tributaries of Whiteman Creek which drains the Brett area. The main shear zone on the Brett and the RW vein were both discovered during road construction. If there is an economically viable gold deposit in the area it is likely completely masked by overburden, which is why HMC sampling has been proven to be the best exploration tool. There is a strong possibility that most of the widespread, spotty gold anomalies found in the area to date originate from a previously glaciated gold deposit.
As reported earlier in a Company press release dated January 31, 2012, a successful Pilot HMC geochemical program on the North Bay property was conducted on behalf of the Company by Billiken Gold Ltd ("Billikin") of Enderby, BC. Among the very positive results, one spectacular sample in particular ("NB-60") generated a great deal of interest, not just due to its high assay value of 95.6 grams (3.07 ounces) per tonne gold, but because the sample came from a highly altered area in the Western Zone that has geological similarities to the Brett occurrence. In addition to the high grade and strategic location, the gold particles in this sample were pristine, angular in shape, and with sharp edges that suggest they are "low transport gold" and have not traveled very far. This further suggests potential for a blind lode gold deposit close by, similar to, or possibly an extension of, the nearby Brett deposit.
During the 2013 field season, a second HMC program was commenced on behalf of the Company by Billiken. This program was designed to follow up on the previous findings along trend, and to further evaluate the Company's newly acquired claims adjacent to the alteration zone and the area where sample NB-60 was found during the 2011 sampling program. This year's program was concluded in July 2013 with 46 samples collected. These samples were subsequently processed and catalogued prior to shipment to ALS Chemex in Vancouver for analysis. Mr. Murray Morrison, B.Sc. Geology, consulted on the project and assisted Billiken in a detailed megascopic examination of all the samples. Mr. Morrison has more than 30 years of experience in the geological stratigraphy of the region, with a particular focus on the area bounded by Whiteman Creek area where the Brett West property is located. Mr. Morrison and Gene Dodd, President of Billiken, returned to the property site earlier this month and located an as yet undiscovered alteration zone up slope and up ice from these recent high gold values. Further work will be required to determine if this newly discovered alteration zone is the cause of the highly anomalous gold assays.
The 2013 HMC program has resulted in an expansion and further delineation of the alteration zone found in 2011, and the discovery of a completely new and previously undiscovered target area about 400 metres west of where sample NB-60 was taken. The results of this year's HMC program are extremely positive and encouraging. At least 5 samples (NB-106, NB-107, NB-126, NB-137, and NB-138) confirmed and further delineated the presence of highly anomalous gold particles in the soil upslope from both NB-60 and the large alteration zone discovered during the initial HMC program in 2011. The recently concluded 2013 HMC project produced assays as high as 9.75 g/t (sample NB-137) from the original target area. New and very positive results downslope from the newly discovered alteration zone, about 400m west and upslope from NB-60, produced high gold values from three samples; NB-126 (8.0 g/t), NB-163 (2.29 g/t), and NB-164 (2.53 g/t). These samples were all taken very close together and point to this new target area upslope. Further sampling is planned for next year to locate the origin of this gold dispersal plume.
The exceptional assay results from the new discovery zone also correlate with Mr. Morrison's pick (NB-164) as the most promising of all the rocks found in the 46 sluice reject samples. This accomplishment of Mr. Morrison's is indeed a testament to his ability to spot gold bearing rocks in this environment. Of the 14 sluice reject samples (rock fragments) analyzed, NB-164 gave the highest value by quite a margin: 0.102 g/t. This indicates that the angular vein material and/or rock fragments in the sample are gold bearing and appear to be from a source area very close by.
Reports on the 2011 as well as the 2013 geochemical programs leading to these very promising results are available for viewing at the Company website at http://www.northbayresources.com/boul.html.
About Brett West/Bouleau Gold
The Brett West/Bouleau Creek Gold Property is a road-accessible resource located 26 kilometres west of Vernon, British Columbia. Including recently-staked ground that significantly expanded and consolidated the Western zone, the property now covers 2,107 contiguous hectares (5,205 acres). The Western zone of the Property partially surrounds and is directly adjacent to Running Fox's Brett Gold deposit (MINFILE 082LSW110) where 11,970 tonnes grading 39.12 grams per tonne gold have been previously indicated by surface drilling and underground work. The Southern zone of the property below Bouleau Creek (MINFILE 082LSW069) features gold and silver mineralization over an area of approximately 1,000 by 600 metres. Historical assays documented in Assessment Report 21877 are reported to yield up to 34 grams (1.09 ounces) per tonne gold and 286 grams (9.19 ounces) per tonne silver. The Northern Zone above Bouleau Creek includes the Siwash prospect (MINFILE 082LSW046), which extends over an area of gold and silver mineralization measuring 3,000 by 750 metres. Historical assays in the Northern Zone are documented in Assessment Report 20226 to yield up to 5.55 grams per tonne gold and 16.6 grams per tonne silver.
About North Bay Resources Inc.
North Bay Resources Inc. (
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 the SEC website at http://www.sec.gov/edgar.shtml