Thursday, October 16, 2014 4:23:27 PM
Marketwired North Bay Resources Inc.
SKIPPACK, PA--(Marketwired - Oct 16, 2014) - North Bay Resources Inc. (OTC Pink: NBRI) ("North Bay" or the "Company") today issued the following shareholder update.
As previously announced this week, operations at the Ruby Mine are winding down for the season, and are expected to resume in late April, 2015, weather permitting. Surface work being done in the interim will prepare the property for the winter season. This work is expected to be completed by Oct 31, 2014 in advance of the first winter snows.
When work resumes next spring, the priority projects will be completion of the South Terrace raise, the Big Bend raise, and the reopening of the Lawry Shaft system. The Lawry shaft system hosts the Pilot and Mt. Vernon channels, which are important exploration and mining targets for next year.
Prior to curtailing operations, we can report that approximately 90 tons of gravel stockpiled from the Black Channel Pillar project was processed, resulting in the recovery of approximately 30 grams of gold. When operations resume in the spring, the pillar work will be discontinued to focus on the aforementioned priority projects.
The Company is also considering farming out development of the recently-acquired Carson Mine adjacent to the Ruby as a means to provide additional operating capital as well as debt relief. The sale of one or more of our properties in British Columbia is also on the agenda as a means to build our cash position and reduce debt.
The Company also reports that the planned spinoff of Ruby Gold, Inc. ("RGI") is moving forward, and RGI is expected to file an amended registration statement on Form S-1 with the SEC shortly.
In Canada, the Company can now report that discussions between the provincial government and various stakeholders pertaining to the Fraser River Project have concluded, and we have been informed that the outstanding issues have been resolved. The government has requested that the pending Heritage Impact Assessment ("HIA") report now be completed, which we now expect to be delivered before the end of the year.
The Greatest RISK is NOT Taking One !!!
Recent NBRI News
- North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • InvestorsHub NewsWire • 09/11/2024 01:15:00 PM
- North Bay Resources Commences Gold Shipments, Fran Gold Project, British Columbia; Enters Taber Gold Mine JV, Sierra County, California • InvestorsHub NewsWire • 09/09/2024 01:15:00 PM
- North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • InvestorsHub NewsWire • 08/26/2024 02:00:44 PM
- North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz./ton Silver, Sierra County, California • InvestorsHub NewsWire • 08/22/2024 02:28:03 PM
- North Bay Resources Announces Mt. Vernon Gold Mine Startup, Sierra County, California • InvestorsHub NewsWire • 08/05/2024 01:00:00 PM
- North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • InvestorsHub NewsWire • 07/18/2024 01:00:00 PM
- North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • InvestorsHub NewsWire • 06/27/2024 01:00:00 PM
- 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 • InvestorsHub NewsWire • 06/18/2024 01:18:44 PM
- 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 • InvestorsHub NewsWire • 05/29/2024 01:03:34 PM
- North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • InvestorsHub NewsWire • 05/21/2024 01:07:26 PM
- North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • InvestorsHub NewsWire • 04/23/2024 01:41:02 PM
- North Bay Resources Announces Acquisition of 55.5% of Bishop Gold Mill, Inyo County, California • InvestorsHub NewsWire • 04/08/2024 02:38:35 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM