North Bay Resources
Commences Operations at Bishop Gold Mill, Inyo County, California;
Engages Sabean Group Management Consulting
Bishop, CA -- September 25, 2024 --
InvestorsHub NewsWire -- North Bay Resources Inc. (the
"Company" or
"North
Bay") (OTC:
NBRI) is pleased to announce the arrival of its first gold ore
shipment from the Company's Fran Gold Project and commencement of
test milling operations. Starting today the Company will begin
testing and optimization of milling for extraction of gold from
ore.
The first phase will involve testing
of the jaw crusher to reduce the ore to minus ½" for feed into the
ball mill for further reduction to minus 150 mesh and then moved as
a slurry to the gravity separation table for extraction of free
gold and other valuable metals. This will then be followed by
optimization and testing of the flotation cells and reagent
formulation with a final phase of further upgrading the flotation
concentrate by use of a 2nd
gravity table and report to
tailings. The free gold and, as applicable,
precious metal concentrate will be melted in the on-site furnace
for production of Dore bars or similar high-grade instruments for
bank vault storage or shipment to the gold refinery in Reno,
Nevada. The initial shipment consisted of 22 tons of surface
material loaded into one metric tonne (2200 lbs.) super-sacks and
placed on flat-bed tractor trailers. The target material was recently
assayed and graded 1.2 to 2.3 ounces gold per ton
(see Press Release
dated August 26, 2024). The Company has identified
approximately 5000 tons of target material for immediate shipment
and a substantially larger amount of near surface material in
trenches and defined by prior diamond drilling.
Management
Update
The Company has engaged the Sabean
Group for media and management
consulting. The Sabean Group is founded by
content executive Tim Sabean, one of the most highly
regarded experts in modern media, serving previously as the founder
of the Howard Stern Channels on SiriusXM, spanning a 30 year career
building content brands for some of the biggest brands in media.
Gil Edwards, has served in leadership roles at
CBS Radio and SiriusXM developing media brands and top-tier spoken
word entertainment content. Mr. Edwards has over a decade of
digital product leadership and strategy, working on start-up
platforms in streaming audio, video and mobile development. Mr.
Edwards has an MBA from Villanova
University. Jim Keller (CPA) has over 35 years of
experience providing financial, administrative, operational and
strategic leadership to global software, consulting, distribution,
manufacturing and public accounting firms ranging from early-stage
to established billion-dollar
corporations. Al McGowan is a result-driven
executive with a successful record of raising capital to create
numerous high growth companies. In addition to being a Member of
the Board of Directors of Cambridge Mobile Telematics, the
worldwide leader in insurance telematics, Mr. McGowan was the CEO
of TrafficCast International, a Founder at Traffic.com and the
President of Shadow Broadcast Services. These companies were the
industry leaders and innovators in their verticals and resulted in
successful exits for investors and employees. Mr. McGowan played a
significant role in the development of the oil storage and refining
facilities that were part of the Royal Commission for Jubail and
Yanbu in Saudi Arabi and worked in the petrochemical, hydroelectric
and nuclear fields before spending five years as a facilities
engineering and real estate executive in the aerospace
industry. Mr. McGowan has a degree in Civil
Engineering from the University of Delaware.
Bishop Gold Mill
Technical Update
The Company has received a tailings
pond inspection report from its environmental engineering firm,
NewFields, indicating no issues or degradation of the tailings pond
liner in the Waste Management Unit of the Bishop Gold
Mill.
The Company's civil and process
engineering firm SRK Consulting (Reno) is completing a De-watering
Plan and updated Waste Management and Closure financial projection
(2024 dollars), both will be used to determine if bond requirement
will be adjusted by regulators. Currently, the Company has a $250,000
closure bond in place. The Company's metallurgy lab, Woods
Process Services, is completing an ore characterization study,
flotation analyses, and report tailings characterization for filing
with regulators as part of the mill
start-up. Along with mechanical, plumbing, and
electrical operational testing utilizing run-of-mine ore, water
testing, operational, reporting, and safety protocols are now being
checked and implemented as per the approved Plan of Operation and
Waste Management Unit and Closure Plan.
Current transportation costs from the
Fran Gold Project to the Bishop Gold Mill, are currently $150 per
ton for long haul trucking, with off-road / site costs
approximately the same. Both costs are expected to be
substantially reduced. The acquisition of off-road transport
equipment will eliminate high hourly charges by specialty off-road
equipment operators due to the remote mine location and, although
not an immediate priority, ultimately replacing long haul trucking
with low-cost rail is expected to bring transport costs in line
with equivalent regional mine to mill transport costs.
Mt. Vernon Gold
Mine
The Company's mine contractor has
filed the required Federal Mining Authority (MSHA) operating plan
and expects to commence operations in
October. The initial detailed extraction plan
for the drill, blast, load, and removal of a 500-ton high grade
bulk sample is being updated and completed, based on prior 3D
modelling, by the Company's mine engineering consultant, RESPEC
Company, and is expected shortly; site preparations are expected to
commence thereafter.
Taber Gold
Mine
Mining crews continue to develop and
rehabilitate the Wild Boar Zone approximately 700 feet inside the
mine.
The primary work has consisted of
steel and timber reinforcement of the tunnel and clearing of the
historic Wild Boar shaft. Sampling of the three known mining faces
will commence once rehabilitation is complete.
Corporate
Update
The Sabean Group will receive an
initial 100,000,000 incentive share purchase options with a 2-year
term and a strike price of $0.0006, to be issued within 30 days,
and $20,000 per month commencing in January 2025 for a term of one
year.
Additionally, up to 100,000,000 share
purchase incentive options maybe issued in January 2025 in exchange
for a reduction in cash compensation as agreed at that
time.
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 | 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.