Welcome!

News Feed Item

North Bay Resources Inc. (NBRI): Ruby Gold Progress Report

SKIPPACK, PA -- (Marketwire) -- 01/03/13 -- North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") has issued the following shareholder update on the status of current operations at the Ruby Gold Project.

In reviewing the past year, we have made tremendous progress in preparing the Ruby Mine for the start of production. Almost one mile of underground tunnel has been completely refurbished with new timber supports, new ventilation duct, and a redesigned transport system. Infrastructure improvements include a new fire suppression system at the Ruby portal, electrical system upgrades at the Ruby Portal and Mill Site in compliance with Cal-OSHA specifications, reinforcement of berms and access roads, and the expansion of the designated tailings area to accommodate at least five to seven years of continuous mining. Our reclamation plan was updated to comply with California SMARA regulations and approved by the Sierra County Planning Commission and the California Department of Conservation Office of Mine Reclamation ("OMR"). In addition, our Alternative Mine Rescue Plan and Miner Safety Training Plans were approved by the federal Mine Safety and Health Administration ("MSHA"). Including the cost of regulatory compliance, the Company has spent over $500,000 since work began one year ago to prepare the Ruby Mine for the start of production.

With several feet of snow now on the ground from a recent series of storms in the high Sierras, the Company has decided to temporarily suspend operations at the Ruby. Until the mine is in full production and better able to allocate manpower and equipment to snow removal activities, the Company believes it will be best to conserve resources for the time being and wait until weather conditions improve before resuming operations.

During the upcoming winter months the Company will be working with our mine engineering team to block out the first target zones where we expect to begin mining operations. The initial mining activity is expected to include the extraction of bulk samples that can be used to help determine an estimate of proven and probable reserves as those terms are legally defined in SEC Industry Guide 7 and National Instrument 43-101. The very nature of the Ruby gold deposits explains why there has been no IG7 or NI43-101 compliant resource estimate prior to this point in time. The Ruby gold deposits are contained within the Tertiary gravels found at the bottom of ancient river channels, and which were buried in lava millions of years ago when the Sierra Nevada mountains were formed. Since these Tertiary gold deposits follow the channels of these ancient rivers, they extend horizontally for miles from intercepts several hundred feet underground rather than vertically from outcrops above ground. Thus reliable data is extremely difficult to obtain by drilling vertically down from the surface. Drilling is therefore best initiated several hundred feet underground to access and follow the lateral course of the ancient river channels in which the gold is deposited. To reach these locations, it was therefore essential to first rehabilitate the Ruby Tunnel to allow safe access to the auriferous channels, which is precisely what we have been doing for the past year. Once the rehab work is completed, bulk sampling and mining operations can then begin simultaneously.

This method of mining and sampling simultaneously, while somewhat unorthodox by current practices, has historically been the standard in California's drift mines such as the Ruby Mine. To further illustrate this point, the Department of the Interior Bureau of Land Management ("BLM") Technical Bulletin 4 entitled "Placer Examination Principles and Practice" explains, "Not all placers lend themselves to the usual forms of sampling and there are some which cannot be sampled by any means short of mining the entire deposit. Excellent examples of the latter condition can be found in California's drift mines. The point to be made here is that the physical characteristics of such deposits, when combined with an almost complete absence of surface guides to their underground location, makes sampling in the normal sense impracticable." BLM Technical Bulletin 4 goes on to state, "Parts of California's Tertiary channel system remain buried and unexplored; these are believed to contain a large gold reserve, available for mining at some future date."

Despite the aforementioned challenge in assessing proven and probable reserves at the Ruby, the Company believes that an underground bulk sampling program, combined with the data that has been accumulated and verified from previous operations, will allow for a preliminary reserve estimate to be established that is compliant with SEC Industry Guide 7 and NI 43-101. To help achieve this goal, the Company is pleased to announce that it has engaged the services of Mr. Randy Henkle, CPG, of Henkle & Associates, to assist in updating the Ruby maps of known resources. Mr. Henkle's work at the Ruby for Alhambra Mines Inc. in the 1980s identified reserves and resources from no less than ten different target zones within the current Ruby Mine underworkings. Subsequent assessment work by Keewatin Engineering (Ron Nichols, P.Eng, and Art Freeze, B.Sc., FGAC) for Brush Creek Mining during a one year period from 1991-1992 relied heavily on Mr. Henkle's authoritative resource maps, as did the follow up evaluation work by Mr. Gary Clifton, CPG, in July 2010 which significantly expanded these estimates.

The Company believes that once the Ruby channel system is fully exploited, the potential life-of-mine hypothetical estimate will eventually prove out to be over 500,000 ounces. This is entirely consistent with the documented past-production from the Ruby and other drift mines in the district that are known to have produced an average of 100,000 ounces for every mile of channel mined. The Company notes that references to estimated, potential, possible, hypothetical, and/or "inferred" reserves or resources contained herein do not represent proven (measured) or probable (indicated) reserves as those terms are defined by SEC Industry Guide 7 or NI 43-101 and should not be relied upon by any person in evaluating the Company's prospects at the Ruby Mine project.

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 250,000 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, consisting 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 about 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 over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada.

In the US, the Company owns the Ruby Gold Mine in Sierra County, California, and is presently looking to acquire additional operating mines in the western US.

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.

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 disclosures 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

Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...