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I am not posting for fun. Only stating some things that were either overlooked or misinterpreted. From a professional point of view.
Listen. I still think and hope that NBRI would get back to work. If they do that there are extremely good chances in finding 'economic' gold so to speak in large enough quantities to make it work for everybody/shareholders.
Facts are that the gold is in there and large quantities could be found by following professional advice. And by hiring experienced miners.
That's it.
If it is not NBRI but Ruby Co to mine it, who cares? That won't change the truth which is the presence of important quantities of gold that could be mined at profit. To see this co failing is not good knowing that they were so close to achieving greatness and making history in Northern California. But if another co picks up the shovel so be it - they would be the one to find the gold and big nuggets. Remember do not invest what you cannot afford to lose. Investing is or could be risky and should be done according to your profile which includes available capital, risk money, age, goals, short or long term etc.
Looking forward to the reopening of Ruby i.e. waiting for news. Won't reply to the daily grind here on this board. I have better things to do.
Lucky NBRI.
It has everything in place.
Let's start mining gold!
Let's hear the sweet sound of golden nuggets rolling down the sluice box!
R u ready fooor RUUUUMBLE?
It has recovered gold in the past for previous owners. It works.
As simple as that fox woods fan.
I get it that BECAUSE you did your math the sp went down? Could you please explain how did you manage to accomplish that?
There should be no 'LOL' moment here! The owner of this mine struggles like most of the miners to achieve something with his property which most likely needs money to be maintained. Any investment made by them before the 2012 industry downturn has not produced a return so they want to sell it right now - it is their right to sell it on a site of their choice and at any price that they like.
It is not NBRI's fault that they were not able to reopen or mine it. When approached NBRI said yes we can accommodate/process your ore/production at this price. And terms were favorable. Any future owner would still have to deal with NBRI if they want to avoid building an expensive processing plant (they would need a certain level of production to be achieved in order to make that investment profitable and they don't know yet if they would be able to produce that much ore at such a high grade).
As simple as that es1!
To understand Ruby mining - Grades depend upon the material that is being mined. No matter the type of mineral deposit there are high grades in some parts, ok or above the cut-off grade somewhere else but still economic grades, and of course low grades or subeconomic.
The gold bearing paleochannels of the Sierras are known for their erratic nugget effect which means many parts are low grade then as you follow the channel you would encounter extremely rich pockets. So to speak you would mine a lot of low grade material to get to the rich ones but when you calculate the average you would have outstanding results (say you mined 1 mile of channel therefore you had to go through some shit for 0.8 miles to get to the 0.2 miles hosting 100,000 ounces of gold!).
The gold rich Tertiary channels of Sierras are nothing but buried channels i.e. rivers, streams so think a present day river. Where would you find the gold? Everywhere? Nope! It is concentrated according to the laws of gravity, hydraulics in bends, potholes, some terraces, ....... so if you start testing the parts that are not prospective what do you think the grades would be? Low grades of course. And that is what recent operators encountered. And these are the parts of the mine tested by NBRI to date so no surprises here (at least for me, a miner). The Big Bend part of the Black Channel tested to date was supposed to yield low grades as well - read the Henkle report; he said that already.
But the average production is of over 100,000 oz gold per mile of channel - this is what one can get by mining the renowned Tertiary gold channels of Ruby (and other local mines).
The Ruby mine has over 3 miles of unmined gold bearing channels!
You do the math!
60 feet to GOLD!
North Bay Resources Inc. (NBRI) Reports Visible Gold in Newly-Discovered South Terrace
As previously announced in a Company press release dated July 17, 2014, the recent underground drilling program at the Ruby Mine intersected buried river gravels in 3 vertical drill holes spaced approximately 150 feet apart, for a total expanse of at least 300 feet. The gravels are located approximately 60 feet above the adit level and 25 feet above the base of the White Channel, which is located about 100 feet away. The gravels are interpreted to be on a terrace or bench on the south rim of the White Channel. In the 1880's, a terrace on the north side of the White Channel, at the same elevation as the recently discovered terrace, was successfully mined for gold. The two terraces are interpreted to be of the same age, and have been designated the North and South Terraces, with the South Terrace being previously unknown and unmined. A raise to access the South Terrace is currently under construction.
Concurrent with the start of the raise construction, a successful attempt was made to reenter drill hole C-2, which penetrated the South Terrace at the lowest elevation and remains open. The goal was to collect a larger sample of the terrace gravels than was collected during drilling. Using a string of one-inch diameter PVC pipe fitted with a 90-degree nozzle at the top and a water fitting at the bottom, the pipe was fed into the drill hole length by length until the top of the basement rocks was reached. Water was then pumped through the pipe, washing sand and gravel back down the hole where 5 pounds of material was collected and recovered. The coarser material was found to include rounded quartz and chert cobbles to 2 inches in diameter, the largest material that could fit in the drill hole and pass by the PVC pipe. The recovered sand and gravel was then carefully panned, and several small pieces of visible gold were found. The gold was elongated and little rounded, indicating that it has not traveled far from its source. Arsenopyrite and small quartz crystals were also abundant in heavy fraction.
The clear evidence of visible gold in the 5-pound sample demonstrates that gold is indeed present in the South Terrace, similar to the records for the North Terrace.
http://finance.yahoo.com/news/north-bay-resources-inc-nbri-140000148.html
Bob all that this co needs is the money to execute their 2015 plan - surveys and raising towards the golden terrace located 60 ft away OR any other target that was identified by their survey and drilled for confirmation. That's it. There are so many targets very close to them that they cannot miss them as Ruby mining works are located below those channels.
I definitely don't like the present day sp but I know that by giving them a break and letting them go for gold in a professional manner this time (lessons learned the hard way) they would have very good chances in succeeding and getting the sp above what it used to be when you bought your shares. Anyway above $.20
Get 'em nuggets rollin' down the sluice box! It's YELLOW time.
NBRI will issue a PR sooner than later I suspect as spring is around the corner.
The sluice box would turn yellow sooner than later. Let the nuggets roll down the sluice box!
What's done is a new understanding of the Ruby channels. What's done is the hard work and the millions of dollars spent on opening the mine and rehab work.
They are under the gold bearing channels right now.
Gold is easy to access right now!
Money are coming es1! It is an extreme bear market out there remember. Extremely difficult to finance anything but...NBRI is only 60 feet to gold so they will be able to get enough dough to restart and work the newly discovered gold bearing terrace! The sluice box could turn yellow very soon my friend.
As previously announced in a Company press release dated July 17, 2014, the recent underground drilling program at the Ruby Mine intersected buried river gravels in 3 vertical drill holes spaced approximately 150 feet apart, for a total expanse of at least 300 feet. The gravels are located approximately 60 feet above the adit level and 25 feet above the base of the White Channel, which is located about 100 feet away. The gravels are interpreted to be on a terrace or bench on the south rim of the White Channel. In the 1880's, a terrace on the north side of the White Channel, at the same elevation as the recently discovered terrace, was successfully mined for gold. The two terraces are interpreted to be of the same age, and have been designated the North and South Terraces, with the South Terrace being previously unknown and unmined. A raise to access the South Terrace is currently under construction.
Concurrent with the start of the raise construction, a successful attempt was made to reenter drill hole C-2, which penetrated the South Terrace at the lowest elevation and remains open. The goal was to collect a larger sample of the terrace gravels than was collected during drilling. Using a string of one-inch diameter PVC pipe fitted with a 90-degree nozzle at the top and a water fitting at the bottom, the pipe was fed into the drill hole length by length until the top of the basement rocks was reached. Water was then pumped through the pipe, washing sand and gravel back down the hole where 5 pounds of material was collected and recovered. The coarser material was found to include rounded quartz and chert cobbles to 2 inches in diameter, the largest material that could fit in the drill hole and pass by the PVC pipe. The recovered sand and gravel was then carefully panned, and several small pieces of visible gold were found. The gold was elongated and little rounded, indicating that it has not traveled far from its source. Arsenopyrite and small quartz crystals were also abundant in heavy fraction.
The clear evidence of visible gold in the 5-pound sample demonstrates that gold is indeed present in the South Terrace, similar to the records for the North Terrace.
http://finance.yahoo.com/news/north-bay-resources-inc-nbri-140000148.html
The Big Bend is/was a primary target but ... like I said much of the material is low grade even there (see report). The laws of physics dictated where gold accumulated so Best got the higher grade part mined. They left some good zones in there but to date NBRI has not done enough work to be able to locate it - it is a maze of pillars, voids and unmined zones. With good planning and by employing a geophysical survey they would be able to pinpoint the richest areas no doubt about that and successfully mine them.
Looking forward to the sweet sound of nuggets rolling down the sluice box this spring and summer.
60 feet to gold!
No worries. There will be enough money to restart Ruby and get to the gold.
60 feet from gold!
To understand Ruby mining - Grades depend upon the material that is being mined. No matter the type of mineral deposit there are high grades in some parts, ok or above the cut-off grade somewhere else but still economic grades, and of course low grades or subeconomic.
The gold bearing paleochannels of the Sierras are known for their erratic nugget effect which means many parts are low grade then as you follow the channel you would encounter extremely rich pockets. So to speak you would mine a lot of low grade material to get to the rich ones but when you calculate the average you would have outstanding results (say you mined 1 mile of channel therefore you had to go through some shit for 0.8 miles to get to the 0.2 miles hosting 100,000 ounces of gold!).
The gold rich Tertiary channels of Sierras are nothing but buried channels i.e. rivers, streams so think a present day river. Where would you find the gold? Everywhere? Nope! It is concentrated according to the laws of gravity, hydraulics in bends, potholes, some terraces, ....... so if you start testing the parts that are not prospective what do you think the grades would be? Low grades of course. And that is what recent operators encountered. And these are the parts of the mine tested by NBRI to date so no surprises here (at least for me, a miner). The Big Bend part of the Black Channel tested to date was supposed to yield low grades as well - read the Henkle report; he said that already.
Over 100,000 oz gold per mile of channel is what one can get by mining the renowned Tertiary gold channels of Ruby and other local mines.
The Ruby mine has over 3 miles of unmined gold bearing channels!
You do the math.
Vanadium
Research by the Company thus far indicates that North Bay now holds the only property in British Columbia where vanadium is the primary resource. Besides its traditional uses, such as in the manufacture of high-strength and super-light steel alloys, vanadium has in recent years seen ever-increasing demand for use in the next generation of high-capacity batteries that can be charged and recharged indefinitely. Hybrid cars, as well as large-scale wind and solar energy installations, all benefit from vanadium batteries to make these technologies more efficient, cost-effective, and environmentally-friendly. Its use in alternative energy is one of the reasons that Discover Magazine recently called vanadium “the element that could change the world”.
Henkle report page 32
You're dead wrong.
The average grade per mile of gold bearing channel is over 100,000 oz of gold at Ruby and adjacent mines. Read the papers.
To understand Ruby mining - Grades depend upon the material that is being mined. No matter the type of mineral deposit there are high grades in some parts, ok or above the cut-off grade somewhere else but still economic grades, and of course low grades or subeconomic.
The gold bearing paleochannels of the Sierras are known for their erratic nugget effect which means many parts are low grade then as you follow the channel you would encounter extremely rich pockets. So to speak you would mine a lot of low grade material to get to the rich ones but when you calculate the average you would have outstanding results (say you mined 1 mile of channel therefore you had to go through some shit for 0.8 miles to get to the 0.2 miles hosting 100,000 ounces of gold!).
The gold rich Tertiary channels of Sierras are nothing but buried channels i.e. rivers, streams so think a present day river. Where would you find the gold? Everywhere? Nope! It is concentrated according to the laws of gravity, hydraulics in bends, potholes, some terraces, ....... so if you start testing the parts that are not prospective what do you think the grades would be? Low grades of course. And that is what recent operators encountered. And these are the parts of the mine tested by NBRI to date so no surprises here (at least for me, a miner). The Big Bend part of the Black channel tested to date was supposed to yield low grades as well - read the Henkle report; he said that already.
The average production at Ruby mine and surrounding mines was over 100,000 oz gold per mile of channel!
The Ruby mine contains over 3 miles of unmined channels!
100,000oz gold per mile of channel is $120,000,000 ... not one million!
100,000 oz gold per mile of channel.
The Ruby mine produced over 100,000 ounces of gold per mile of paleochannel. And all surrounding mines had similar records of production.
There are at least 3 miles of unmined paleochannels at Ruby. Can you do the math and communicate us longs how much gold is left in there?
Again 'there is no economic gold in there'? Based on what? Your studies? Other people's studies? Link please!
There is no gold in between the Ruby adit and the newly discovered channel. It's barren rock that one has to dig through in order to get to the channel. But the channel had been drilled and was tested and there is visible gold in there! So yeah it could be a billion dollar or a 100 million dollar or a 10 million dollar pocket but what matters is that when considering local geology and you hit something like that then you're golden :)
You gotta pick one or the other!
Are they incompetent or crooks?
Had they spent money unwisely or are they crooks?
etc etc etc
The truth is that they had quite a few setbacks and were too optimistic. Everything can be and I think will be fixed soon with a little bit of money and through the reopening of the mine to get to the gold (unmined gold bearing channel 60 feet away).
It matters. They would be on gold in 20 meters/60 feet. That is the truth.
The rest are scenarios. You don't have a crystal ball. Let's wait and see. In my opinion the outcome should be good. That's it.
In 2014 they did test mining. Wait 'n see when they open one of those unmined gold bearing channels (they're only 60 feet away from one of them).
It is exactly like you said. This is how you build a mine and/or rehab it. The rest is HOGWASH!
MSHA hours for the Ruby mine are reported under their contractor. That had been discussed already.
Ruby Gold, Inc. Acquires Carson Mine; Stakes Claim to New Discovery Channel
The Carson Mine was formerly owned by Brush Creek Mining and Development Company, Inc. ("BCMD"), who purchased the Carson and the nearby City of Six Mine from Golden Lion Mining Corporation in 1990 for $2,299,000. It consists of a group of quartz and placer claims located along the Eastern Melones Fault, the major controlling structure of the Motherlode, and is believed to be an extension of the same mineralized system followed by the Ruby Mine's Cincinnati Channel placer deposit and 4900 Vein quartz vein structure. The Carson was assessed by Keewatin Engineering for BCMD in 1991. A total of 387 samples from 3 veins located in the underground workings yielded assays as high as 31.903 ounces per ton gold, with an average grade of 0.04 opt after the four highest grade samples were removed. No further work had been done at the Carson by the time BCMD folded due to low metal prices. The abandoned claims encompassing the Carson subsequently lapsed, which thus allowed the Company to acquire them by staking new claims over the Carson.
The immediate importance of the new Carson group of claims is seen as being the location at which the Ruby Mine's Cincinnati Channel is believed to outcrop at the surface. The Cincinnati Channel is one of the primary drilling targets recently announced in a North Bay press release on March 27, 2014. The staking of this ground therefore extends our ownership of the Cincinnati Channel to cover what is believed to be its entire length.
The Company has also staked additional claims to entirely cover an area where a recently completed gravity survey has indicated the presence of a new previously unknown channel. Now known as the Discovery Channel, this new channel is indicated to extend for over 4,000 feet near the Ruby Adit.
North Bay Resources Inc. (NBRI) Reports Visible Gold in Newly-Discovered South Terrace
As previously announced in a Company press release dated July 17, 2014, the recent underground drilling program at the Ruby Mine intersected buried river gravels in 3 vertical drill holes spaced approximately 150 feet apart, for a total expanse of at least 300 feet. The gravels are located approximately 60 feet above the adit level and 25 feet above the base of the White Channel, which is located about 100 feet away. The gravels are interpreted to be on a terrace or bench on the south rim of the White Channel. In the 1880's, a terrace on the north side of the White Channel, at the same elevation as the recently discovered terrace, was successfully mined for gold. The two terraces are interpreted to be of the same age, and have been designated the North and South Terraces, with the South Terrace being previously unknown and unmined. A raise to access the South Terrace is currently under construction.
Concurrent with the start of the raise construction, a successful attempt was made to reenter drill hole C-2, which penetrated the South Terrace at the lowest elevation and remains open. The goal was to collect a larger sample of the terrace gravels than was collected during drilling. Using a string of one-inch diameter PVC pipe fitted with a 90-degree nozzle at the top and a water fitting at the bottom, the pipe was fed into the drill hole length by length until the top of the basement rocks was reached. Water was then pumped through the pipe, washing sand and gravel back down the hole where 5 pounds of material was collected and recovered. The coarser material was found to include rounded quartz and chert cobbles to 2 inches in diameter, the largest material that could fit in the drill hole and pass by the PVC pipe. The recovered sand and gravel was then carefully panned, and several small pieces of visible gold were found. The gold was elongated and little rounded, indicating that it has not traveled far from its source. Arsenopyrite and small quartz crystals were also abundant in heavy fraction.
The clear evidence of visible gold in the 5-pound sample demonstrates that gold is indeed present in the South Terrace, similar to the records for the North Terrace.
Business as usual. For the rest spring is around the corner.
Ruby gold mine reopening in da spring.
Many of NBRI's properties are valuable. But this is a bear market in mining and commodities so it is extremely difficult to sell/option mineral properties right now. Especially if they are not at an advanced exploration stage which means that the co spent millions $$ on drilling and studies and delineated something valuable that is economic at depressed prices. Still that does not make them less prospective. According to the time tested model NBRI needs to find jv partners willing to put some money in the ground to test those targets/possibilities. Which the management is doing right now.
And yes the Fraser River property was subjected to different kind of claims made by groups of Natives and minorities (Chinese) which stalled the project.
It is not their mission to do that. Everybody would be happy with them finding and mining good gold so the sp would go up and maybe later on pay dividends. The link was provided because somebody said that gold (NBRI's main commodity) is doomed and has no future. Well, it is exactly the opposite.
Mind-Blowing: China Consumes More Gold Than the World Produces
http://www.usfunds.com/investor-library/frank-talk/mind-blowing-china-consumes-more-gold-than-the-world-produces/#.VOeNHS6QB-5
NBRI would succeed.imo.
Mining is a capital intensive industry - yes, the Ruby needs another capital infusion. They needed money to reopen then refurbish then build raises then drill targets. Even though they are only 60 ft to gold they would still need some money to access this and other opportunities. It makes no sense to vociferate too loud. This is the way mining works. You should plan the point when you want to invest in a mining operation. Too early you'd be diluted but you still have the opportunity to offset that by participating in sp appreciation due to success in exploration and mining. But there are cycles in the life of a mining operation and sp goes up and down according to the stage. Now they're pretty close to their target (gold on the newly discovered terrace for example) so the risk is reduced somehow. There is still some risk associated with other things but I am not going to write a book here on ihub :)
Setbacks happen all the time and management and investors alike should plan in advance for them. Decision tree analysis. The failure of the raises meant value destruction for the company. It is definitely undervalued. Right now is an investment opportunity for certain types of investors that accept higher risks (higher returns) and are able to digest a loss when it occurs.
What to do? Sp so low means that on the paper at least shareholders lost money. It makes no sense to sell for peanuts right now so better be supportive of the company and hope for the best. Management is working to pay some debts and get some $$ to be able to restart the Ruby. Let them do just that.
There is lots of gold in the Ruby in its 3 miles of unmined channels. Let's get it!
The historic nuggets are in the museum but the ones that had not been mined are still in the underground within NBRI's reach. I am talking about over 3 miles of gold bearing unmined channels.
Then you'll have to wait til summer or fall when I am going to visit the mine and see the golden channels.I'll snap a few pics, no problem :)
By welding :) by installing a 'gate' - a few screws would do it. By making sure that the cars won't tip, etc. Ask Perry for pictures :)