North Bay Resources Inc. Reports Positive Results of HMC Geochemical Survey at Bouleau Creek Gold Project
31.01.2012 | Marketwire
SKIPPACK, PA -- (Marketwire - Jan 31, 2012) - North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to report that a recently-completed HMC ("Heavy Mineral Concentrates") geochemical survey of its 100% owned Bouleau Creek Gold Property in southeastern British Columbia has returned assays as high as 2.09 grams per tonne gold from conventional fire assays, and as high as 95.6 grams per tonne gold from a metallic screen assay Au(+)fraction.Bouleau Creek Gold (MINFILE 082LSW069) is a road-accessible property covering 2,347 contiguous acres and located 26 kilometres west of Vernon, British Columbia. The property is adjacent to the Brett Gold project (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 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.
The Company has also staked additional claims consisting of 612 acres that include the Gold Star showing (MINFILE 082LSW130) immediately to the west of the Brett Gold property, and to within 500 meters of the main Brett Gold deposit. While these new claims are not contiguous with the rest of the Bouleau Creek property, the Company considers these claims to be part of the project area, and are referred to as the Western Zone, or Brett West. Brett Gold is currently owned and operated by Running Fox Resources Corp.
A Pilot HMC (Heavy Mineral Concentrates) Geochemical program of the Bouleau Creek Gold property was conducted on behalf of the Company by Billiken Gold Ltd of Enderby, BC. The program was commenced on October 10, 2011, and concluded on November 30, 2011. Over 2300 pounds of sample material were collected, and subsequently processed and cataloged into 36 samples. A photo of a gold nugget from sample NB-60 has been posted to the Bouleau Creek Gold page on our website, at http://www.northbayresources.com/boul.html. The samples were sent to ALS Chemex in Vancouver for analysis, and Company has now received the assay results, as shown in the table below.
SAMPLE Weight Au
DESCRIPTION kg g/t
NB-35 0.12 0.475
NB-36 0.12 0.558
NB-37 0.12 0.177
NB-38 0.10 0.377
NB-39 0.12 0.301
NB-40 0.10 1.82
NB-41 0.10 0.223
NB-42 0.12 < 0.005
NB-43 0.12 0.048
NB-44 0.12 0.131
NB-45 0.12 0.032
NB-46 0.10 0.007
NB-47 0.12 0.145
NB-48 0.12 0.123
NB-49 0.12 0.507
NB-50 0.12 0.369
NB-51 0.12 0.322
NB-52 0.10 0.03
NB-53 0.12 0.864
NB-54 0.12 0.256
NB-55 0.12 0.407
NB-56 0.12 0.529
NB-57 0.10 0.826
NB-58 0.12 2.09
NB-60* 0.56 95.6
NB-61 0.10 0.097
NB-62 0.10 0.455
NB-63 0.12 0.212
NB-64 0.50 < 0.005
NB-65 0.54 < 0.005
NB-66 0.10 0.192
NB-67 0.12 0.035
NB-68 0.12 0.335
NB-69 0.12 0.333
NB-70 0.12 0.346
NB-71 0.12 0.312
*All of the samples were analyzed by conventional fire assay (Au-AA23), with the exception of sample NB-60. Due to the presence of visible gold, a metallic screen assay (Au-SCR21) was performed on sample NB-60, where the final prepared pulp is passed through a 100 micron (Tyler 150 mesh) stainless steel screen to separate the oversize fractions. Any +100 micron material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au(+)fraction result, which for sample NB-60 was reported as 95.6 grams (3.07 ounces) per tonne gold. The Au(-)fraction (minus the oversize fractions) assayed 0.24 g/t gold, for a total of 0.77 g/t gold when all fractions were combined and averaged.
Excluding the nugget effect from sample NB-60, the average fire assay of all 36 samples came in at 0.37 g/t gold, including two assays of 2.09 g/t and 1.82 g/t gold, respectively. The Company is encouraged by the consistency of these results, with more than 90% of all the samples showing evidence of anomalous gold over a widespread area.
The Company also notes that sample NB-60 came from a highly altered area in the Western Zone that has geological similarities to the Brett occurrence. In addition to the high grade, the gold particles in this sample are 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 lode gold deposit close by. Accordingly, the Company intends to do a follow up exploration program, with a primary focus on the property's Western Zone claim area.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: 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 has acquired 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 disclosure in our Form S-1 and subsequent Form 10-K which may be secured from us, or from our website at www.sec.gov/edgar.shtml
Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
www.northbayresources.com