North Bay Resources Inc. (NBRI) Reports on New Discoveries at Wolf Lake Gold
Skippack, PA, Dec. 14, 2023 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (OTC: NBRI) (“North Bay” or the “Company”) is pleased to report the results of the Company’s recent exploration work at Mount Washington and Wolf Lake Gold on Vancouver Island.
The exploration program at Wolf Lake was conducted over a four day period in mid-September, and consisted of geological mapping, prospecting, and selective rock sampling. Samples were taken from six locations, and the lab reports have now been released. Compilation of the geological mapping, plotting of geochemical results, and completion of a NI 43-101 technical assessment report authored by Mr. Jacques Houle, P.Eng., have also been completed and released for publication at the Company’s website.
Geochemistry highlights are as follows:
A sample from a new discovery, now referred to as the Ridge Zone, was taken from a 0.05m thick quartz-sulphide vein exposed in a logging road cut along the NE side of a ridge. This sample yielded 22.2 g/t gold, 48.3 g/t silver, 0.632% copper, and 8.11% zinc.
A sample from another new discovery, now referred to as the Blast Zone, was taken from a 0.1m thick sulphide-chlorite vein exposed in a possibly blasted small outcrop. This sample assayed 1.18 g/t gold, 71.8 g/t silver, 3.12% copper and 0.269% zinc.
A sample from the Road Zone taken from a 0.04m thick quartz-sulphide vein exposed in a logging road cut yielded 5.11 g/t gold, 24.4 g/t silver, 0.931% copper, 22.1 g/t tellurium and 406 g/t zinc.
A sample from the Lake Zone taken from a 1.2m thick sulphide-quartz vein and exposed in small overgrown quarry assayed 60.3 g/t gold, 141 g/t silver, 91.6 g/t bismuth, 0.627% copper, 0.988% lead, 561 g/t antimony and 6.76% zinc.
Since the last significant exploration programs occurred on the Mount Washington Property in 1992, prices for target commodities gold, silver, copper, molybdenum and tellurium have greatly increased. The understanding of mineral deposits by economic geologists has improved substantially, and the exploration techniques used have improved dramatically. In addition, the property has been the focus of several academic geology papers by qualified geoscientists, including highly experienced government personnel. The understanding of mineral deposits by economic geologists has improved substantially since the last exploration and academic work was done in the Property area. It has been estimated that total exploration expenditures on the property to be about $5.25 million, exclusive of mining and development costs.
Mr. Houle’s report concludes that the Mount Washington Property and the Wolf Lake Gold claim area is worthy of further exploration, building on past successful work, new mineral exploration and processing technology, and excellent local infrastructure. The potential exists both on and near the property to establish economically viable mineral resources of gold, silver, copper, molybdenum and/or tellurium that could be permitted, mined and processed. An initial $1 million program is designed to target both bulk mineable mineral resources at the Murex Breccia and high-grade narrow vein resources at Wolf Lake, establishing environmental and socio-economic programs necessary for long term success.
A link to the new NI 43-101 Technical Report is at our website, at http://www.northbayresources.com/2023MountWashingtonReport.pdf.
Mr. Jacques Houle, P.Eng., is the Qualified Person as defined by National Instrument 43-101 who has reviewed this news release for technical accuracy.
About North Bay Resources Inc.
North Bay Resources Inc. (OTC: NBRI) is a junior mining company with current operations in British Columbia, Canada. The Company holds 100% ownership of several significant mining properties, including Wolf Lake Gold, the Murex Copper Project on Vancouver Island, and the Tulameen Platinum Project near Princeton, BC.
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.
Contact:
Perry Leopold, CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com
