Chartmaster
2 days ago
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California
BISHOP, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce completion of flooding and operational testing of flotation cells and frothing equipment at the Bishop Gold Mill (the “Mill”). The flotation cells are used in combination with frothing reagents to separate gold and sulphides from host rock. After grinding in the jaw crusher and ball mill into a fine powder, the ore is soaked in a hydrophobic reagent and then moved into the flotation cells where a frothing reagent is added creating bubbles. The gold and sulphides adhere to the bubbles that ascend to the top of the cells where they are scooped into a tray below. This gold concentrate is then dried and refined into gold bars.
Mill Feedstock
The Company has received assays from its Fran Gold Join Venture confirming 0.5 troy ounce per ton material from surface (see Press Release dated June 18, 2024) and has targeted an initial 5,000 tons of material for test processing or approximately 2,500 troy ounces of gold. Metallurgical analyses are currently underway to determine composition and make-up of material including final grind and confirmation of efficacy of selected frothing agent and flocculent in the flotation cells. The Company continues to review gold mine acquisitions and joint ventures throughout the Western US and Canada and is committed to acquiring ounces in the ground in support of the Bishop Mill and any future expansion that may occur.
About North Bay Resources
North Bay Resources operates the 100 ton per day Bishop Gold Mill in Inyo County, California. The Company owns the Murex Copper-Gold Project, the Copper Island Copper-Silver Project, the Tulameen Platinum Project, and is a 50/50 Joint Venture Partner in the Fran Gold Project all located in British Columbia, Canada. The Company seeks to return value to shareholders by staged acquisition, exploration and development of its metals projects and through the utilization of its gold milling facilities.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
info@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
Facebook: North Bay Resources Inc | FacebookLinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
A video accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/b88d2082-a255-4fda-971d-d5d013a965e8
https://www.globenewswire.com/newsroom/ti?nf=OTE3MDExNCM2MzQ1MTIxIzIwMjc3ODg=
https://ml.globenewswire.com/media/ZjdmYzRmNDYtMTNiYy00NWE2LTg2NjItOGE3NWFlNzFiNDEwLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2903170
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia
GLOBENEWSWIRE 7:00 AM ET 6/18/2024
Symbol Last Price Change
NBRI 0.0002down 0 (0%)
QUOTES AS OF 12:00:00 AM ET 06/17/2024
BISHOP, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc.(NBRI) (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce assays have been received from recent exploration at its Fran Gold Joint Venture (the “Property” or “Fran”). Assays were taken over a wide area of known gold mineralization across pre-existing trenches A through E. Assays from separate composite samples from trenches B and C resulted in near identical results of 0.5 troy ounces per ton of gold. This central area of the Property is recognized as the richest area in the Bullion Alley Zone, and is supported by extensive drilling, reflecting a potential feeder zone. This area remains the focus of upcoming bulk sampling. In addition, trenches A and B, assayed 0.9% copper with high iron.
Assays were completed at ALS Global Laboratory, North Vancouver, BC, utilizing fire assay with atomic absorption finish for gold, ALS Method Au-AA25 and 36 Element Aqua Regia ICP for other minerals, ALS Method ME-ICP41.
Results as follows:
Sample ID Trench ID Au Troy Oz
per Ton Ag Troy Oz
per Ton Cu % Zn % Fe % S %
3601 E 0.08 0.22 0.13 0.01 11.1 1.63
3602 E 0.09 0.12 0.14 0.01 9.24 1.75
3603 D 0.03 0.12 0.11 0.02 8.79 3.7
3604 C 0.53 1.2 0.09 1.34 4.85 2.07
3605 B 0.44 1.75 0.9 0.32 34.9 10
3606 A 0.14 0.07 0.9 0.02 28.6 10
North Bay currently awaits metallurgical test results that will define the specific compounds of the mineralization. This will assist the Company in determining the applicability of gravity and flotation recovery methods for the separation of the gold.
Fran Gold Project
North Bay has entered a 50/50 joint venture earn-in agreement with MGX Minerals, Inc., regarding the Fran Gold Project, British Columbia. The Property is 34,360 acres and is located 20 miles from Centerra Gold’s 60,000 tonne per day Mt. Milligan Copper, Gold Mine (299Mt @ 0.22% Cu, .45 g/t Au). To date there has been in excess of 50,000 feet of diamond drilling in 104 holes at Fran, primarily at the Bullion Alley Zone. A gold deposit, 3700 feet in length, with width of up to 120 feet, and depth of over 700 feet has been delineated. The deposit contains 3 to 4 well defined parallel gold veins grading up to 2.6 troy ounces of gold per ton as well as wide sections of low and mid-grade gold in veins and disseminated in veinlets throughout the deposit. Surface trenching has identified a near surface sub-zone where the gold bearing veins swell and are accessible from surface. In addition, samples have assayed up to 1.68% copper and 5.1 troy ounces per ton silver. There is property wide potential for additional discoveries of gold and copper with numerous showings outside of the Bullion Alley Zone.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
About North Bay Resources(NBRI)
North Bay Resources (NBRI) operates the 100 ton per day Bishop Gold Mill in Inyo County, California. The Company owns the Murex Copper-Gold Project, the Copper Island Copper-Silver Project, the Tulameen Platinum Project, and is a 50/50 Joint Venture Partner in the Fran Gold Project all located in British Columbia, Canada. The Company seeks to return value to shareholders by staged acquisition, exploration and development of its metals projects and through the utilization of its gold milling facilities.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC. (NBRI)
Jared Lazerson
CEO
310-584-7278
info@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
Facebook: North Bay Resources Inc(NBRI) | Facebook
LinkedIn: North Bay Resources Inc(NBRI) | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
Image: https://www.globenewswire.com/newsroom/ti?nf=OTE1NTQyOSM2MzIxODU3IzIwMjc3ODg=
Image: https://ml.globenewswire.com/media/MGIwMGE3NGUtYzg1ZS00YzVlLTg3ZDgtMGQ3N2M2MDFhN2JmLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Image: Primary Logo
Source: North Bay Resources Inc.(NBRI)
North Bay Resources Reports Assays up to >25% Mg, 0.1% Ni, 0.1% Cu, 0.01% Co, 0.3 ppm Pt at Tulameen Platinum Project, British Columbia
BISHOP, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has received assays from recent exploration conducted at its wholly owned Tulameen Platinum Project, British Columbia (the “Property”). Nine rock samples, analyzed using Aqua Regia - ICP whole rock analyses (ME-ICP41) at ALS Global Laboratory, North Vancouver, BC from exploration conducted in April of 2024, confirmed a magnesium hosted nickel-cobalt deposit with copper and platinum group metals. The property is known to host a large magnesium deposit consisting of olivine within a dunite core, a common host rock and indicator for nickel and other metals and gems. A historic resource by Diamet in the 1980’s estimated 15,000,000 tons of dunite in a single zone, primarily in the form of olivine (magnesium). There have been 4 additional zones identified.
April 2024 Exploration Assays:
Mg Ni Cu Co Ag Pt
% ppm ppm ppm ppm ppm
24TL-1 16.8 922 643 83 0.9 0.045
24TL-2 19.6 1110 1055 89 1.7 <0.005
24TL-3 19.4 1130 896 86 1.4 <0.005
24TL-4 23.4 1230 94 102 <0.2 0.009
24TL-5 1.91 93 584 41 0.7 0.017
24TL-6 22.5 922 25 110 <0.2 0.265
24TL-7 1.57 27 223 19 <0.2 0.005
24TL-8 2.49 38 321 39 0.2 0.008
24TL-9 >25.0 1335 116 111 <0.2 0.038
Tulameen Geology
The dunite rock is principally made of forsteritic (magnesium rich) olivine, accessory chromite, and rare diopside. The rock is medium to dark grey, buff weathering and well jointed. The serpentinized (altered) dunite rocks contain serpentine, carbonates, magnetite, and talc. Concentrations of chrome spinel and massive chromitite appear to be distributed randomly throughout the dunite as discrete layers, nodular masses and schlieren. Chromitite schlieren are commonly distinguished in outcrop by a pale alteration halo. Associated with chromite are microscopic grains of platinum minerals (platinum -iron alloys, sperrylite), nickel iron sulphides (pentlandite, violarite, bravoite), chalcopyrite and pyrite (St. Louis et al. 1986).
Three main zones have been identified as follows:
Creek Zone
The Creek Zone (Minfile 092HNE128) platinum-chromite showing occurs at the confluence of Britton (Eagle) Creek with the Tulameen River. This occurrence is hosted in the dunite-rich core of the Early Jurassic Tulameen Ultramafic Complex, a zoned Alaskan-type intrusive complex. Mineralization occurs in a serpentine breccia zone containing fragments of dunite / peridotite cemented by a matrix of serpentine. The zone is 560 ft. long, up to 480 ft. wide and lies mostly north of the river, on either side of the creek. Further work, considers it as being 1,860 ft. in length (AR 17170). Chromite occurs in the breccia and the surrounding dunite in areas of stronger magnesium alteration, mostly along Britton Creek.
Platinum occurs in elevated values in the breccia and in the surrounding dunite / peridotite. Two samples from the breccia assayed 0.08 ounces per ton and 0.14 ounces per ton platinum (AR 17170). Values of up to 0.02 ounces per ton platinum occur west and south of the breccia zone, in peridotite with little visible chromite (AR17170). The breccia zone is noted to be practically free of sulphides, yet earlier reports suggest the presence of chalcopyrite and millerite. Magnetite, sperrylite and asbestos have also been reported in the past. A 2013 survey of the zone returned assays of up to 0.195% copper, while the 2018 assays returned 0.024% copper, 0.124% nickel, 0.25% chromium (sulphides including pentlandite present).
The showing was mapped and sampled by Imperial Metals Corporation, Newmont Exploration of Canada, and Tiffany Resources between 1984 and 1987.
South Zone
The South Zone occurs immediately south of the Creek Zone on the other/southern side of the Tulameen River. It lies at an elevation of 2,835 ft. to 3,310 ft. on the northern slopes of the Olivine Mountain. The highest platinum value is 0.04 ounces per ton and the average of the 30 rock samples which make up the zone is 0.01 ounces per ton. The zone appears to be 3,100 ft in length.
Ridge Zone
The Ridge Zone (BC MINFILE 092HNE207) platinum-chromite showing outcrops along a northwest-trending ridge on the southern slopes of Grasshopper Mountain. The ridge is underlain by dunite and peridotite of the Early Jurassic Tulameen Ultramafic Complex, a zoned Alaskan-type intrusive complex. The dunite contains relatively abundant chromite in a zone trending northwest for 930 feet and varying up to 310 feet in width. Chromite comprises up to 20% of the dunite in this zone (AR 17170).
Corporate Update
The Company has increased a previously issued promissory note from $35,000 to $85,000. The note is a demand loan paying 10% interest per annum.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
310-584-7278
jared@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
Facebook: North Bay Resources Inc | Facebook
LinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.globenewswire.com/newsroom/ti?nf=OTE0NTE2OCM2MjkyOTkxIzIwMjc3ODg=
https://ml.globenewswire.com/media/YjJmYmUyNjItOGVmOC00NjZjLWJlNjQtNDI4OGUwNGRmM2ZjLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2874743
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample
BISHOP, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has entered a 50/50 joint venture (the “Joint Venture”) earn in agreement with MGX Minerals, Inc. (the “JV Partner”), regarding the Fran Gold Project (the “Property” or “Fran”), British Columbia. The Property is 34,360 acres and is located 20 miles from Centerra Gold’s 60,000 tonne per day Mt. Milligan Copper, Gold Mine (299Mt @ 0.22% Cu, .45 g/t Au). To date there has been in excess of 50,000 feet of diamond drilling in 104 holes at Fran, primarily at the Bullion Alley Zone. A gold deposit, 3700 feet in length, with width of up to 120 feet, and depth of over 700 feet has been delineated. The deposit contains 3 to 4 well defined parallel gold veins grading up to 2.6 troy ounces of gold per ton as well as wide sections of low and mid-grade gold in veins and disseminated in veinlets throughout the deposit. Surface trenching has identified a near surface sub-zone where the gold bearing veins swell and are accessible from surface. In addition, samples have assayed up to 1.68% copper and 5.1 troy ounces per ton silver. There is property wide potential for additional discoveries of gold and copper with numerous showings outside of the Bullion Alley Zone.
Exploration
During the week of May 13-17th, the Company completed on-site exploration for the purpose of data verification in support of a maiden NI 43-101 Resource Estimate and bulk sample. A target zone of approximately 5,000 tons was delineated, flagged, and check sampled in trenches where prior assays reported up to 1.8 troy ounces per ton (see Picture 1). Surface assays, trench assays and correlated drill results appear to show this area as the primary gold zone. This zone will remain the focus of the bulk sample and related exploration and mining activity.
https://ml.globenewswire.com/Resource/Download/74d13688-3ed9-4a7e-bf65-ccc2bcc4074d/picture1.jpg
Picture 1. Geologist Sampling Massive Sulphide Zone in Trench B
Historical Drilling 2001-2019
High grade drill intercepts of greater than 0.3 troy oz. per ton are reported as follows, all assays were completed by prior operators in compliance with NI 43-101:
Hole # From (ft.) To (ft.) Length (ft.) Au Troy Oz. per Ton
FR-01-001 337.1 338.9 1.8 0.4
FR-01-002 291.0 295.3 4.3 0.4
FR-02-006 132.2 135.2 3.0 0.5
FR-02-008 71.4 76.4 5.1 0.5
FR-02-012 173.1 177.2 4.1 0.3
FR-02-013 255.9 262.5 6.6 0.9
FR-02-025 247.7 250.2 2.5 1.2
FR-02-027 527.9 534.8 6.9 0.5
FR-02-027 541.3 544.6 3.3 0.5
FR-05-036 619.8 621.8 2.0 0.9
FR-05-042 27.0 32.1 5.1 0.3
FR-05-043 620.6 625.2 4.6 0.5
FR-05-047 254.6 256.2 1.6 1.6
FR-05-048 313.3 314.9 1.6 2.1
FR-06-049 363.3 367.8 4.5 0.7
FR-06-050A 193.6 195.0 1.5 0.4
FR-06-053 261.8 263.5 1.6 0.5
FR-06-055 195.9 199.8 3.9 0.3
FR-06-055 268.1 269.8 1.7 2.6
FR-06-055 287.2 290.2 3.0 0.4
FR-06-056 318.6 321.0 2.5 0.4
FR-06-058 372.7 376.8 4.1 0.4
FR-06-059 94.3 98.6 4.2 0.4
FR-06-059 98.6 105.2 6.7 0.4
FR-06-061 127.2 128.8 1.6 0.3
FR-07-064 235.6 240.5 4.9 0.5
FR-07-068 407.0 408.6 1.6 0.4
FR-07-070 525.4 527.1 1.6 0.7
FR-07-070 738.8 740.6 1.8 0.6
FR-07-071 180.4 181.8 1.3 0.4
FR-07-071 222.1 226.4 4.3 0.8
FR-07-074 386.2 391.1 4.9 1.2
FR-07-074 391.1 393.0 2.0 0.3
FR-07-075 160.8 162.7 2.0 0.8
FR-07-076 456.2 458.2 2.0 0.5
FR-07-076 458.2 460.8 2.6 0.4
FR-10-082 490.5 492.8 2.3 0.3
FR-10-082 490.5 492.8 2.3 0.3
FR-11-086 153.1 156.5 3.4 0.3
FR-18-094 771.0 775.3 4.3 0.4
FR-18-095 772.6 780.0 7.3 0.7
FR-18-096 458.7 460.5 1.8 0.3
FR-18-096 460.5 462.3 1.8 1.1
FR-18-096 516.7 518.4 1.6 0.4
FR-18-096 518.4 521.0 2.6 0.4
FR-18-100 738.5 741.7 3.3 0.6
Joint Venture Agreement
Terms of the Joint Venture are as follows:
Phase I - 30% initial interest will be earned by the Company by completing a NI 43-101 Compliant Mineral Resource Estimate and mining and milling of 2500 ounces of gold within 12 months;
Phase II - 50% total interest earned by the Company for the mining and milling of an additional 2,500 ounces of gold within 24 months.
The 50% interest will be considered earned when the above terms are met or 5,000 tons mined and milled and 10,000 tons mined and milled in Phase I and Phase II respectively. If at any time, within the time period, the Company expends greater than $2,500,000 in direct expenditures on the project, the 50% interest will be considered earned. The timelines will commence upon completion of any required engineering, assessments, and issuance of required permits related to each phase. Proft and/or physical sharing of gold and other valuable minerals will be on a 50/50 basis, during the earn-in period. Upon completion of the earn-in the project will operate as a joint venture with each party contributing equally to the Joint Venture. Should either party fail to contribute, dilution will be based on total existing contribution to the Joint Venture to date against additional contribution. Should either party fall below 15% interest, their ownership in the Joint Venture will convert to a 10% net profit interest. North Bay will be the operator. This is a non-arms length transaction, the Company CEO, Jared Lazerson, is a director and shareholder of the JV Partner.
Corporate Update
The Company has entered into a 14 month agreement with Proactive Investor North America for media services at a rate of $3,150 per month. The Company has entered into a 1 year agreement with CNC Collective, Inc. for corporate development services at a rate of $2,500 a month.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
310-584-7278
jared@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
Facebook: North Bay Resources Inc | Facebook
LinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74d13688-3ed9-4a7e-bf65-ccc2bcc4074d
https://www.globenewswire.com/newsroom/ti?nf=OTEyMTAxOSM2MjYxNjE3IzIwMjc3ODg=
https://ml.globenewswire.com/media/YjUzMTIyNTUtNGEzZS00NmU4LWFjYzMtNGYxZGE1OGEzODAyLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Picture 1
Geologist Sampling Massive Sulphide Zone in Trench B
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2867403
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California
SKIPPACK, Pa., April 23, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has completed initial powerup and testing of mill equipment at the Bishop Gold Mill (the “Mill”). Equipment tested included jaw crusher, ball mill, shaker table, and flotation tanks, as well as related conveyors and ancillary equipment. All equipment powered up successfully and is in good working order. The bushings on the ball mill will be replaced shortly to assure continuous operation. Although permitted since 2019, the mill has not operated and all equipment has very low hours and remains in as new working condition, including wiring, plumbing and associated fixtures including the mill building and tailings pond.
Mill Feedstock
The Company is in discussion and negotiations for feedstock for the Mill. The Company has targeted an initial acquisition of 10,000 tons grading one ounce per ton, approximately three months of feedstock. This equates to a total of 8,500 ounces at a projected recovery rate of 85% or $20M in gold at current spot price ($2,350 oz. Au).
Bishop Gold Mill
North Bay has entered into a share purchase agreement to acquire 55.5% of the Bishop Gold Mill, located in Inyo County, California (see press release dated April 8, 2024). The mill has a flotation circuit designed to process up to 96 tons per day / 3.000 tons per month. The mill is currently permitted for operation subject to various conditions and minor infrastructure completions.
https://ml.globenewswire.com/Resource/Download/4b0dafd4-be4e-43c4-81ab-b15c99c7edc7/image1.jpeg
Figure 1. Ball Mill – Bishop Gold Mill, Inyo County, CA.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4b0dafd4-be4e-43c4-81ab-b15c99c7edc7
https://www.globenewswire.com/newsroom/ti?nf=OTEwNDI0NSM2MjE0Njc3IzIwMjc3ODg=
https://ml.globenewswire.com/media/NDlhOGM0MjgtMDk3NS00ZWI1LWE2YTAtMzU4YzQ4MGJhZTlkLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Figure 1
Ball Mill – Bishop Gold Mill, Inyo County, CA
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2834530
NBRI North Bay Resources Announces Acquisition of 55.5% of Bishop Gold Mill, California, USA
SKIPPACK, Pa., April 08, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has entered into a share purchase agreement to acquire 55.5% of the Bishop Gold Mill, located six miles north of Bishop, Inyo County, California. The mill has a flotation circuit designed to process up to 96 tons per day. The Company proposes to operate the Bishop Gold Mill in the near to medium term. The mill is currently permitted for operation subject to various conditions and minor infrastructure completions.
The Company has entered into an agreement with the note holder, CMC Metals Ltd. (TSXV: CMB) (“CMC”), and the current owner 1436132 BC Ltd., a private Canadian company, to acquire 55.5% of 0877887 BC Ltd. (“087”), whose primary asset is the Bishop Gold Mill. Within this transaction, North Bat acquires 55.5% of 087 by assuming the amended cash payment and common share transfers to CMC as follows:
Cash Payments
US $12,500 payable on signing
US $12,500 payable on May 1, 2024
US $12,500 payable on June 1, 2024
US $12,500 payable on July 1, 2024
US $50,000 payable on or before July 11, 2024
Share Payments
$200,000 CAD in common shares of North Bay to be delivered on signing (760,000,000 shares)
$200,000 CAD in common shares of North Bay to be delivered on or before July 11, 2024
The Company may buy back the shares at $0.0002 for 90 days from issuance and at $0.0004 for up to 3 years.
1436132 BC Ltd. still remains responsible for the remaining payments and share transactions to acquire a 100% interest of 087 from CMC as announced on September 19, 2023 and November 1, 2023. North Bay now becomes the operator of the project. The Company CEO, Jared Lazerson is the CEO and a shareholder of 1436132 B.C. Ltd, but has no affiliation with CMC.
Corporate Disclosure
The Company is increasing its authorized share capital from 7,500,000,000 shares to 20,000,000,000 shares and is setting aside the previously proposed reverse share split for the foreseeable future.
The Company has increased an existing convertible note by $6,500, under existing terms, bearing 8% interest and convertible at $0.0002. The Company has settled debt to a vendor by issuing a new convertible note in the amount of $18,000, with a one year term, bearing 10% interest and convertible at 75% of the 25 day lowest closing price. The Company has acquired a new note in the amount of $35,000, bearing 10% interest payable quarterly with principle payable on demand; this note is, in part, related to the acquisition of the Bishop Gold Mill.
The Company has hired Aventure, LLC., as its accountant and expects to hire an auditor shortly for the purpose of becoming an audited reporting issuer. The filing of the Company’s annual financial and OTC Market filings have been delayed due to a mandatory compliance update and change of control approval from OTC Markets related to the recent passing of the Company’s former Director and CEO. The annual financial statements and OTC Market annual filing are complete and will be filed upon approvals.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.globenewswire.com/newsroom/ti?nf=OTA4NTkyMSM2MTkxMDg2IzIwMjc3ODg=
https://ml.globenewswire.com/media/MWY5MDUwYmEtZGJiNC00YzdkLThiN2QtOGI4ODQ0MTk3YzczLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2819215
North Bay Resources Announces Exploration at Murex Copper; Targets Historic Drill Holes up to 16m @ 6.1g/t Gold and Surface Samples up to >100g/t GoldPress Release | 03/13/2024
SKIPPACK, Pa., March 13, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce data compilation and exploration planning is nearing completion for its wholly owned Murex Copper project. Mobilization for exploration has commenced. Initial exploration will involve the updating of road and trail maps, identification of locations and landmarks using modern mapping techniques, including identification of previous surface sampling and drill collar locations at the Murex Breccia. Geochemical sampling, geophysics and geological mapping is expected to commence in earnest in April 2024 and continue throughout the Summer. The Company aims to further delineate the mineralized zones and begin the process of bringing the project compliant with modern exploration standards.
Extensive historical exploration by Standard Oil in the 1970’s and Noranda (Glencore), in the 1980’s, has provided a wealth of detailed data and information. The project is viewed as a transitional deposit containing significant copper-gold deposits across multiple zones and geological types, both large scale breccia and copper and gold bearing veins. Multiple drill sections of both high grade vein type copper and low grade, mass tonnage copper are known, up to 9% copper and continuous mineralized drill sections up to 120m @ 60 degrees, respectively (see press release dated March 6, 2024). Large intersections of gold in drill core up to 16m @ 6.1g/t gold have also been identified. In addition, historical surface samples from these zones are provided below showing significant gold and copper assays over large areas. This is separate and in addition to gold assays in the Northwest of the property where samples up to 60g/t gold were discovered in the Fall of 2023 (see Press Release dated March 6, 2024) confirming high grade gold in multiple zones as reported by previous operators.
Historical Geochemical Sampling
Although completed by qualified Geologists and Engineers of their day, historic results are not NI 43-101 compliant.
The Murex breccia zones are located in the central part of the property and are interpreted as a collapsed volcanic dome structure with shallow-dipping thrust faults cut by steeply dipping faults associated with polymetallic Cu-Ag-Au-As-Sb-Mo-Te bearing sulphide mineralization. Historic work identified a 700m X 700m area, the D Zone, along with the A Zone and E Zone, two breccia zones within a 1,200m X 3,000m area.
Figure 1. Noranda Murex Breccia Zones A-E
Figure 1. Noranda Murex Breccia Zones A-E
Noranda Surface Sampling 1987
Sample 17333 yielded 0.085% copper, 8.0 g/t silver and >100 g/t gold from a pyritic, pyrrhotitic alteration zone in a mixed lithology breccia from Zone D
Sample 17348 yielded 0.47% copper, 6.2 g/t silver, 0.14 g/t gold and 0.0026% molybdenum from a quartz veinlet in basalt with pyrite, pyrrhotite and chalcopyrite from Zone A
Sample 19012 yielded >1% copper, 18.2 g/t silver and 0.22 g/t gold from a quartz fracture filling in basalt from Zone B
Sample 19017 yielded >1% copper, 42.0 g/t silver and 1.4 g/t gold from a breccia containing pyrite, chalcopyrite and pyrrhotite from Zone B
Sample 19022 yielded >1% copper, 11.8 g/t silver and 0.22 g/t gold from a basalt fragment breccia containing pyrite, chalcopyrite & pyrrhotite from Zone B
Sample 19024 yielded >1% copper, 38.0 g/t silver and 0.24 g/t gold from gangue filled fractures in basalt from Zone B
Sample 27583 yielded >1% copper, 54.0 g/t silver and 0.12 g/t gold from an alteration zone in a pyritic diorite breccia from Zone C
Sample 27584 yielded >1% copper, 10.8 g/t silver and 0.08 g/t gold from pyrite and chalcopyrite bearing quartz veinlets in fractured basalt from Zone D
Noranda Surface Sampling 1988
Sample R-28001 yielded 1.3 g/t gold, 63 g/t silver, 5.1% copper from a select outcrop grab of massive sulphide in a basaltic breccia in Zone A
Sample R-28002 yielded 0.56 g/t gold, 26 g/t silver, 2.2% copper from a select outcrop grab of chalcopyrite vein in a basaltic breccia in Zone A
Sample R-28042 yielded 12 g/t gold, 28 g/t silver, 0.36% copper, from a select float grab of sulphidic basalt in Zone A
Sample R-28052 yielded 0.12 g/t gold, 17 g/t silver, 2.5% copper from a select matrix only outcrop grab sample from a mixed lithology breccia in Zone A
Sample R-44004 yielded 0.24 g/t gold, 27 g/t silver, 2.2% copper from a select outcrop grab sample of a fractured basalt with quartz and sulphides in Zone A
Sample R-43017 yielded 1.4 g/t gold, 17 g/t silver, 1.9% copper from a 1 m. square panel sample of sulphidic basaltic breccia in Zone A
Sample R-44028 yielded 0.74 g/t gold, 31 g/t silver, 3.8% copper from a select matrix only outcrop grab sample from a sulphidic basaltic breccia in Zone A
Sample R-27605 yielded 9.3 g/t gold, 125 g/t silver, 7.0% copper from a select outcrop grab of a sulphidic mixed lithology breccia in Zone D
Sample R-27606 yielded 6.9 g/t gold, 2.1 g/t silver, 0.23% copper from a select outcrop grab of a sulphidic mixed lithology breccia in Zone D
Sample R-28625 yielded 0.07 g/t gold, 83 g/t silver, 4.5% copper from a select outcrop grab of a sulphidic alteration zone in diorite breccia in Zone D
Sample R-28628 yielded 3.4 g/t gold, 54 g/t silver, 2.5% copper from a select outcrop grab of a sulphidic alteration zone with quartz veinlets in Zone D
Sample R-28010 yielded 4.8 g/t gold, 128 g/t silver, 5.7% copper from a select outcrop grab of a sheared, sulphidic basaltic breccia in Zone D
Sample R-28026 yielded 7.4 g/t gold, 0.5 g/t silver, 0.07% copper from a 0.27 m. chip sample from a sheared, quartz and iron oxide rich basalt in Zone D
Sample R-28089 yielded 9.0 g/t gold, 4.9 g/t silver, 0.26% copper from a select outcrop grab of a sulphidic basaltic breccia in Zone D
Sample R-28092 yielded 4.0 g/t gold, 31 g/t silver, 0.98% copper from a 0.88 m. channel sample of an altered, sulphidic shear in basalt breccia in Zone D
Sample R-28098 yielded 4.0 g/t gold, 16 g/t silver, 1.0% copper from a 0.19 m. channel sample of an altered shear zone in basalt breccia in Zone D
Sample R-28014 yielded 2.3 g/t gold, 22 g/t silver, 2.8% copper from a 0.1 m. channel sample of a sulphidic quartz vein in Zone D
Sample R-28120 yielded 5.0 g/t gold, 2.1 g/t silver, 0.13% copper from a 0.5 m. channel sample of a basaltic breccia in Zone D
Sample R-28122 yielded 10.4 g/t gold, 1.5 g/t silver, 0.13% copper from a 0.5 m. channel sample of a basaltic breccia in Zone D
Sample R-28123 yielded 4.3 g/t gold, 28 g/t silver, 1.4% copper from a 0.5 m. channel sample of a basaltic breccia in Zone D
Sample R-28124 yielded 4.4 g/t gold, 106 g/t silver, 5.9% copper from a 0.1 m. channel sample of a massive sulphide pod in a basaltic breccia in Zone D
Sample R-79784 yielded 8.5 g/t gold, 4.3 g/t silver 0.12% copper from a 5 m. chip sample of a sulphidic mixed lithology breccia in Zone D
Sample R-79797 yielded 1.1 g/t gold, 28 g/t silver, 2.8% copper from a sample of a sheared sulphidic quartz vein in basalt in Zone D
Tulameen Platinum, Magnesium, and Carbon Sequestration
Exploration at the Company’s 100% owned Tulameen Platinum Project is set to commence in the second half of April 2024. Historic assays by Imperial Metals resulted in two significant assays of 62g/t platinum and 31g/t platinum, including 4g/t gold. The property also contains a large magnesium deposit in the form of olivine and brucite, which is currently undergoing investigation for processing to magnesium oxide a widely used mineral with applications in the industrial, construction (wallboard and cement replacement), agricultural (fertilizer and animal nutrients), environmental (water treatment), and pharmaceutical (supplements) sectors. There is also great interest in the use of magnesium compounds, in particular the form of olivine and brucite, as occurs at Tulameen, for carbon sequestration. A large project is currently ongoing in Iceland, the world leader in geological carbon sequestration, utilizing magnesium compounds in situ. One tonne of olivine can bond with up to one-third of a tonne of CO2 making it one of the best natural carbon sinks. The global market for carbon sequestration price for carbon credits is in the $25 per tonne range, but this is heavily governed by local factors. The nearest carbon sequestration for British Columbia industry is out of Province in Alberta suggesting strong potential for a large scale storage facility and carbon credit creation and offset for industry in the western part of British Columbia due to the size of the deposit and potential monetization through existing carbon credit and offset programs. The Company anticipates providing further information on both the industrial magnesium compound and carbon sequestration potential of this project as developments occur. In addition, the Company will continue to focus on exploration for platinum group metals, in addition to copper, nickel and cobalt in and around the large olivine (Mg) deposit. Of note is the unique geology of the area, including, significant garnets and the historic report of a micro-diamond discovered in the southeast quadrant of the property.
Corporate Disclosure
The President and former CEO of the Company, Perry Leopold, has passed. The Company honors his many years of service to Northbay and the mining industry, in particular within the Province of British Columbia. Mr. Leopold leaves the Company with a strong portfolio of projects, including Murex Copper.
The Company CEO, Jared Lazerson has entered into an agreement to acquire certain Preferred Shares, by making payments to the Estate of Mr. Leopold, that upon completion would result in a change of control. An announcement will be made if and when a change of control occurs or is imminent.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.otcmarkets.com/stock/NBRI/news/North-Bay-Resources-Announces-Exploration-at-Murex-Copper-Targets-Historic-Drill-Holes-up-to-16m--61gt-Gold-and-Surface-?id=433219
North Bay Resources Announces Assays from Murex Copper Project up to 3.12% Cu, 60.3g/t Au, 141g/t Ag, and 8.11% ZnPress Release | 03/06/2024
SKIPPACK, Pa., March 06, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce previously unreleased assays (with the exception of sample #H619241) at its wholly owned Murex Copper Project (formerly Mt. Washington).
Fall 2023 Exploration consisted of geochemical and geological mapping in the North of the property, yielding the following assays:
#H619230 22.2g/t gold, 48.0g/t silver, 0.63% copper, 8.11% zinc
#H619231 5.11g/t gold, 24.4 silver, 0.93% copper, 0.42% zinc
#H619232 1.18g/t gold, 71.8g/t silver, 3.12% copper, 0.27% zinc
#H619241 60.3g/t gold, 141g/t silver, 0.62% copper, 6.76% zinc
#H619233 and #H619234 were outside the mineralized zone
Fall 2023 Exploration consisted of 6 rock chip samples covering the Lupus and Lakeview Zones. Rock chip sampling consisted of geochemical analysis at ALS Chemex Labs, North Vancouver, B.C. ALS method ME-MS61, ME-OG62, Cu-OG62, Zn-OG62, PGM-MS23, As-OG62, and Au-AA25.
Historic Exploration
Although completed by qualified Geologists and Engineers, historic results are not NI-43101 compliant.
In addition, to the gold and polymetallic zones in the North of the property, the Murex breccia zones are located in the central part of the property and are interpreted as a collapsed volcanic dome structure with shallow-dipping thrust faults cut by steeply dipping faults associated with polymetallic Cu-Ag-Au-As-Sb-Mo-Te bearing sulphide mineralization. Historic work identified a 700m X 700m area, the D Zone, along with the A Zone and E Zone, two breccia zones within a 1,200m X 3,000m area.
The property has been systematically explored, since 1957, by various operators including Noranda, now Glencore. Extensive previous exploration has occurred with the following significant drill intercepts:
Hole 69-10
82.3m @ 0.20% copper, 0.015% molybdenum and 3.3 g/t silver from surface to 82.3m
Hole 69-14
27m @ 0.22% copper, 0.005% molybdenum and 3.4 g/t silver from surface to 27.4m
Hole 73-3, assayed for copper only
120.2m @ 0.24% copper from 3.2m to 123m
Hole 73-6, assayed for copper only
60.3m @ 0.20% copper from 2.6m to 62.9m
Hole 74-2
46.5m @ 0.53% copper, 0.17g/t gold and 7.2g/t silver from 9.1m to 55.6m and
30.0 m @ 0.245% copper, 0.003g/t gold and 4.1g/t silver from 62.9m to 89.9m
Hole 74-3
57.1m @ 0.058% copper, 0.73g/t gold and 2.1g/t silver from 0m to 57.2m
Hole 86-1
16.0m @ 6.1 g/t gold, 4.2g/t silver and 0.17% copper from 1.5m to 17.5m
Hole 86-7
19.8m @ 0.22g/t gold, 9.9g/t silver and 1.5% copper from 29.4m to 49.2m and
6.8m @ 0.38 g/t gold, 21 g/t silver and 3.3% copper from 55.5m to 62.3m
Hole 86-1
16.0m @ 6.1g/t gold, 4.2g/t silver and 0.17% copper
Hole 88-19
16.0m @ 6.1g/t gold, 4.2g/t silver and 0.17% copper
There has been extensive trenching and surface sampling at the Murex zones grading up to 9% copper and over 100g/t gold.
Copper Island Project
The Company has completed exploration at the Copper Bell Zone where Summer 2023 Exploration resulted in assays up to 14.7% copper (see Press Release dated February 16th, 2024). Geological mapping and assays are now pending.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.otcmarkets.com/stock/NBRI/news/North-Bay-Resources-Announces-Assays-from-Murex-Copper-Project-up-to-312-Cu-603gt-Au-141gt-Ag-and-811-Zn?id=432575
North Bay Resources Announces Assays from Copper Island Project: 5.93% Cu Avg. at Pomeroy 1 Zone and 9.06% Cu Avg. at Copper Bell Zone
SKIPPACK, Pa., Feb. 22, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce previously unreleased assays (with the exception of sample 23CIR-7) at its recently acquired Copper Island Red-Bed Copper Project, located in British Columbia, Canada (press release dated February 16th, 2024). Further, the Company has mobilized for exploration and expects exploration to commence on or about February 26th, 2024. The focus will be the Copper Bell zone (up to 14.7% Cu).
The Company reports Summer 2023 exploration consisted of 8 rock chip samples covering the Pomeroy 1 and Copper Bell zones. The confidential data (B.C. Assessment Report 41377) was recently acquired as part of the property acquisition. Rock chip sampling consisted of sequential leach for oxide, sulphide and residual geochemical analysis. Copper sequential leach (ALS method Cu-PKG06LI involving sulfuric & cyanide leach) identifies oxide, sulphide and residual copper geochemistry. A total of 8 rock samples, ranging from 0.68-1.84 kilograms in weight, of acorn sized rock chips were taken with rock hammer and moil, and placed in marked poly bags and shipped to ALS Chemex Labs Ltd, North Vancouver, BC for Prep-31 & Cu-PKG06LI sequential leach for oxide, sulphide and residual geochemical analysis (Analysis certificate VA23177512):
Pomeroy 1
23CIR-3 7.46% Cu
23CIR-4 8.48% Cu
23CIR-5 4.51% Cu
23CIR-6 3.28% Cu
Average
33 % oxide Cu,
65.4% sulphide Cu
1.6 % residual Cu (native copper)
Copper Bell
23CIR-7 14.7% Cu
23CIR-8 3.42% Cu
Average
22 % oxide Cu,
76.5 % sulphide Cu,
1.5 % residual Cu (native copper)
23CIR-1 and 23CIR-2, taken outside the mineralized zones, generated nominal results.
Historic Exploration and Development Work
Considerable previous work has been performed on the Pomeroy Group copper-silver bearing mineralization. Modern exploration began in 1952-53, when Dodge Copper carried out a detailed exploration program of trenching and diamond drilling. Dodge Copper drilled 145 holes totaling 8800 feet on various deposits. Extensive drilling and trenching of the mineralized zones was completed by Prince Stewart Mines Ltd. in 1972-74. In 2011, the claims were acquired by Copper Island Mines Ltd, and a program of geochemical sampling was carried out on the Pomeroy, Beaver and Colleen Zones. A significant portion of geochemical sampling returned >2% Cu from numerous new & historic copper-silver bearing mineral occurrences (Betmanis, 2012). There are 9 British Columbia MINFILE locations within the Project area (press release dated February 16th, 2024).
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.globenewswire.com/newsroom/ti?nf=OTA0MTQxNyM2MDgyNTA3IzIwMjc3ODg=
https://ml.globenewswire.com/media/ZjMxZDUzNjYtMzA0YS00NTI0LWI1NDMtODU2Y2I1OGNiMDk3LTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2774430
North Bay Resources Announces Acquisition of Copper Island Project with Assays up to 14.7% Cu and Appointment of New CEO
SKIPPACK, Pa., Feb. 16, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce that the Company has entered into an agreement to acquire a 100% interest in the 1056 hectare Copper Island Red-Bed Copper Project (the “Property” or the “Project”), located in British Columbia, Canada, The agreement (the “Agreement”), is between the Company and Copper Island Mines Ltd.(the “Vendor”). Recent geochemical exploration (Summer 2023) on the Property has yielded up to 14.7% Cu (B.C. Assessment Report 41377). The project is proximate to the Company’s Wolf Lake Project where recent sampling returned up to 3.12% Cu and up to 22 g/t Au.
Historic Exploration and Development Work
Considerable previous work has been performed on the Pomeroy Group copper-silver bearing mineralization. Modern exploration began in 1952-53, when Dodge Copper carried out a detailed exploration program of trenching and diamond drilling. Dodge Copper drilled 145 holes totaling 8800 feet on various deposits. Extensive drilling and trenching of the mineralized zones was completed by Prince Stewart Mines Ltd. in 1972-74. In 2011, the claims were acquired by Copper Island Mines Ltd, and a program of geochemical sampling was carried out on the Pomeroy, Beaver and Colleen Zones. A significant portion of geochemical sampling returned >2% Cu from numerous new & historic copper-silver bearing mineral occurrences (Betmanis, 2012).
Property Mineral Occurrences
Historic estimates were completed prior to NI 43-101, while completed by qualified geologists and/or engineers of their day they are historic in nature.
The following list describes historic resources of nine British Columbia Ministry of Mines, Energy, and Carbon Reduction MINFILE occurrences located within Copper Island mineral claims:
POMEROY 1:
16,500 tons @ 3.67% Cu
POMEROY 2:
PROVEN: 5,000 short tons @ 2.70% Cu
INDICATED: 17,000 tons @ 2.70% Cu
POMEROY 3+4
PROVEN: 972,400 short tons @ 1.22% Cu
INDICATED: 472,000 tons @ 1.62%Cu
POMEROY 5:
53,200 tonnes @ 1.00% Cu
BEAVER 1:
19,375 tons @ 1.74% Cu
HALL:
PROVEN: 5,000 tons @ 3.45% Cu
INDICATED: 50,000 tons @ 2.40% Cu
COPPER BELL 1 + 2: 112,000 tons @ 2.55% Cu
*Reserve Estimates - Sheppard, 1974. Prince Stewart Mines Ltd.
CEO Appointment
The Board of Directors has appointed Jared Lazerson as CEO and a Director of the Company replacing Perry Leopold. Mr. Leopold remains a Director of the Company. Mr. Lazerson has been involved in the mineral exploration and technology industries for 25 years. In 2018, Mr. Lazerson accepted the Standard & Poors Global - Platts Metals Award for Leadership in Base and Specialty Metals on behalf of MGX Minerals as its CEO. As CEO, Mr. Lazerson oversaw the financing of $60M in direct lithium extraction (DLE) and zinc-air battery technologies as well as exploration for magnesium, silicon, and gold including the discovery of the 8.1Mt Measured + Indicated Driftwood Creek Magnesite deposit with an in situ value of approximately $1.8B. In addition, Mr. Lazerson has been involved in diamond exploration while CEO of Margaret Lake Diamonds and a Director of Arctic Star Exploration and lithium exploration while at MGX and as a Director of Far Resources (now Foremost Lithium). Mr. Lazerson holds a BA in International Relations from the University of Pennsylvania.
Share Consolidation
A majority of the shareholders of the Company (80%) have approved a share restructuring involving a consolidation of common shares up to 1 new common share for every 500 existing common shares.
CEO Incentive Options and Compensation
The compensation package of the CEO is $180,000 per annum and 496,812,596 share purchase options at $0.0002, representing 10% of the current issued and outstanding shares, for a period of 3 years.
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
jared@northbay-resources.com
northbay-resources.com
215-661-1100
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
https://www.globenewswire.com/newsroom/ti?nf=OTAzODc2MiM2MDc0NTE3IzIwMjc3ODg=
https://ml.globenewswire.com/media/NjQ2YWM5MTMtMTcxZi00NzJmLWFhNjgtYzQ1Y2FhOGIxNWEyLTEwMzg4Mzg=/tiny/North-Bay-Resources-Inc-.png
Source: North Bay Resources Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/NBRI/news/story?e&id=2769525
Bullish
Bullish
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
rodeoup
5 hours ago
Monroe1
10 hours ago
JackAskSlap
1 day ago
goodfree
1 week ago
Hot Features
Premium
