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As previously mentioned it is Compliance Coal Corp.
Houle recommended but that doesn't mean that the Board of Directors is going to approve it. Usually the company tries to adjust these recommendations to their business plan which in this case is most likely going to be optioning it out i.e. not spending millions on exploration but inviting others to do that in exchange for gaining an interest in the property. Anyway Houle's 1st phase would cost only $85,000 and I think with that kind of money you'd have enough info to help you option the property.
As far as I remember the gravels are cemented so mining them would not pose any problem.
I would like to talk about the 15 feet of bad ground encountered in the raise though. Tomorrow.
Cheers.
Yes it is and certain local environmentalists are not happy about that but c'est la vie! This BC government is about business and mining is a big component of their plans. The old copper mine polluted and was finally reclaimed most likely on tax payers money but that does not mean that another one that would be environmentally sound won't be approved in the future. It would encounter some opposition agree but it is about the same everywhere around the world. A responsible mining co would take these permitting delays into consideration and would say that it would be 18 months to get that approval and another year for the other one. But you cannot make promises here. Things would change though if it is a small mining operation which is easier to permit. Also if grades are good enough to support an underground mining op that would be good as it would have a smaller footprint. And you have to know that before applying for a permit you would do an enviro baseline study which would measure the level of natural or manmade pollution that already exists at the site and that includes water and creeks. Because most of the time you find the ore because it outcrops and there are creeks flowing through it so they are already 'polluted' to a certain level. That is the case in the Mt. Washington area as well so won't be that difficult for your mining op to meet or exceed certain standards (effluents).
I think that under certain circumstances a larger co might be interested in buying the project. This kind of co would have deep enough pockets to shelve the project for a couple of years until it gets all the necessary approvals w/o getting the shareholders upset because of the delays. In many cases the juniors discover something of value then sell it to a major who would then negotiate over lengthy periods of time with local governments to get all the permits in place. Might be the same here. But most likely more work needs to be done down there before NBRI would be able to sell it.
This is a good and valid email that imo explains a lot of what's going on at Ruby.
For example the Big Bend raise probably broke into a mined out area full of rubble so in the moment that they have opened it everything fell down the raise therefore creating a funnel shaped void that is difficult to secure and deal with. Why? Because the more material you take out the more is coming down and the void grows. Well up to a certain size dictated by rock mechanics, cohesion, size of the old mining works...
A piece of advice here. If you expect to find mined out areas bypass the channel and old mining works by 5-10 m and then dig a crosscut to it so you would access it horizontally not from underneath it. That way you would avoid unnecessary delays, expenses.
The gold that is being displayed on the site comes from SAMPLING & TESTING different parts of the mine NOT from production runs. So 16 grams of gold coming from 5 tons of material would be 3 grams per ton. The results would guide the company to areas that are good and profitable to mine. OUNCES would come from production runs i.e. mining. Or they might come from bigger nuggets left in there by Best and unmined areas.
Cost overruns and missed deadlines happen all the time in the mining industry. It happens a lot when reopening old mining works. E.g. see Bralorne Gold Mines http://www.bralorne.com/s/home.asp And many others.
NBRI's Mt. Washington area holds important mineralization and that could be mined at profit imo if everything would fall in place permitting included. Speaking of which the government listened to objections raised by some of the locals but approved a coal mining license for Mt.Washington area in May 2014 (it is not a 'two man and a shovel' mining op!). Company is Compliance Coal Corp. http://www.theravenproject.ca/ First they wanna mine the Raven then the other areas that they had permitted.
Fraser still holds lots of gold and platinum and would be profitable but the permitting process is being delayed not derailed by some activists. The government usually would intervene in these situations to speed up the process as permitting is long overdue. It would be done!
Ruby is technically speaking pretty challenging but well within the means of NBRI. Gold is in there and the co is about to reach it.
Stay the course. Good things would come before the onset of the winter imo.
Cheers.
Henkle is a reputable professional. You could say that he knows the mine better than the back of his hand and based on his vast experience, extensive underground Ruby fieldwork and the study of literature he produced a very good and comprehensive technical report. You like it or not it is what it is - the most up to date and complete technical report that also estimates the potential that the mine has in hosting gold in various parts of the mine and channels. Of course that he didn't know about the South Terrace and other targets that became apparent as a result of a successful exploration program ran by NBRI.
And yes everybody gets paid for their work - dentists, engineers, teachers and geologists alike. You could work for peanuts or for free in North Korea if you want
http://www.koreakonsult.com/visum-villkor_eng.html
Gold is in there! Lots of it. It is only a matter of time i.e. driving an adit or raise to get to it which is exactly what NBRI is doing as we speak. The miners and the underground team won't read this board but they would get to work i.e. blasting rock to get to the gold.
The newly discovered South Terrace was pricked by a small hole only but hit a rich gold pocket! What are the chances of that happening considering that gold is not evenly distributed throughout the gravels? Close to zero. Unless the whole area is extremely rich. Speaking of which this area has returned some of the world's best gold nuggets.
Stay the course! Some dark figures have an interest in getting this stock as low as possible because they know that any day from now the news of getting to these rich areas would hit the market and the share price imo would skyrocket.
Cheers.
GOLD would fall into the gallery when the raise breaks into the unmined terrace! It would roll down the raise! I do not know the setup but if they are building the raise to intercept the unmined gold gravels close to the point where the drill hole broke into them that is exactly what is going to happen. Very rich area.
It is not like hou have to follow this stock everyday. It goes down and you are disappointed. Like I said before give 'em some time to reach their target. It is difficult work. It is underground. Safety matters. You don't want an accident to happen because then the mine would be closed for weeks.There are so many juniors enjoying a better valuation even though they do nothing other than sitting on a map that show some promise. This company fights and found funds to advance the mining project during a severe bear market. They have recently accessed old mining works still containing those renowed gold nuggets. And they dig raises to get to new rich ground. Unmined! They wouldfind good amouns of gold imo. Remember that they'drilled a small diameter hole in an unmined terrace and gold started coming down the hole! Go NBRI!
Do not underestimate the rush that would take place if NBRI finds only one fist sized gold nugget in the Best area that they have only recently reached and opened. From Australia to Germany and Japan they will all bid to get NBRI shares imo. The Ruby underground placer mine is one of the world's last mines to feature huge gold nuggets in a place that was initially mined during the 19th century gold rush era. It cannot get more authentic than that! Any find any decent nugget would be sold at huge premiums and would only make the mine look more like a diamond mine than a placer mine when it would come to investors interest. Emotions drive the market my friends and Ruby could benefit from that. Looking forward to seeing some of those golden beauties. Good luck!
In mining you have to be 'long'. In the exploration business you could be a trader. With NBRI you have to be long to allow them enough time to reach the paystreaks and then give them some time to mine and process it. Or you could be a trader if you buy today then sell in a month or two from now - possible 6-10 bagger (at least) imo. Good luck to you!
Toxic financing could be a problem. They would have to and they would show some (a lot of?) gold I am sure about that because they have reached an area where there is enough gold to be profitably mined. And no I was not talking about you :) Cheers.
I understand dilution. Do you? There are several different ways of financing a pubic company and this is one of them. I am/was expecting dilution to happen. How do you get a thing built without money? It is part of the game. Accept it or leave the table. Do you have any idea how difficult it is for any junior out there to raise capital? It is a tour de force NBRI still advancing (even though sometimes it looked like they were only inching) towards achieving their goals during the present day bear market in mining which btw started in 2012.
Do you guys have any idea how much it would have cost to dig the whole mountain and get to where NBRI took over? And now you are complaining that it takes weeks or months to drive some short adits, or a raise or two and drill targets? Do you have any idea how long it takes to go underground and do business? If you don't then you should have not invested in mining stocks in the first place. Do yourself a service and do your own DD before investing in a specific industry. Disappointment sometimes come from you not understanding the business and having unrealistic expectations.
They are mining! And exploring at the same time. They are days to weeks from producing good gold. Days for the material that they are already pulling out as a result of advancing on different headings and weeks for the one that they would pull out once they get there (rich terraces included). They also have good exploration results so gimme a break lads! It will fly sooner not later imo. My mining experience tells me that they are about to get the gold. You would see lots of 'economic gold' (inventing new words and meanings huh?).
Do not forget the different conflicting interests that are playing out on this board. Some of the bashers might be actually accumulating cheap shares. Stay the course! This company achieved a lot with very little money. Other juniors were nothing but hot air. NBRI advanced on all headings and is about to get the gold. It is like an athlete that trained very hard and went through lots of sweat and pain for a long time but then he wins the gold medal and all the suffering is forgotten. We're waiting for the medal. The competition is NOW.
Cheers.
Pillars represent unmined material (ore left in situ) for ground control purposes or because they are lower grade. Back in the day they mined around them and they are sort of a column holding the roof/back of the gallery. They are surrounded by 'stopes' which are voids created by mining i.e. by removing the ore/auriferous gravels.
Drifting through pillars could present some technical and safety problems - not that much if surrounding stopes are collapsed and the ground had settled meanwhile). Mining the pillars (remnant ore) is usually done at the end of mine life to maximize recovery and it is called retreat mining because by removing the pillars (ore) the ground would collapes behind so you do it in retreat going back to the entry point: a shaft or access gallery.
Anyway they have an experienced mining engineer down there so he knows how to do it in a safe and efficient manner. Plus that he knows the mine like the back of his hand.
As the PR states it is indeed expected that the cross cut through pillars would recover significant amounts of gold as it goes right thru a rich part of the channel.
Cheers.
The government does not have enough people on payroll to be able to send their geos to ALL existent or past producing (if they are still accessible) mines to calculate mineral resources or reserves. LOL! Depending on the situation they take into consideration work done by someone else - a reputable consultant or company included.
Keewatin, Henkle, Clifton is what you need to read. The old papers are telling you that the yellow stuff exists in there and why and where.
All good down there. Many good things to come including nuggets and a share price increase imo.
Absolutely right! After years of slow but steady progress NBRI is about to start mining in several areas plus they have identified new virgin ground. The new terrace only could hold a fortune imo. Plus the dinosaur sized gold nuggets Best area that had already been opened.
Don't listen to naysayers that have their own agenda! Do your own diligence. Ancient gold is there to be picked by miners. And btw hiring Mr. Watson the former Senior Mine Engineer as COO: Precious! He intimately knows Ruby. He can show you the cache. Imo NBRI is about to shovel some nuggets.
Listen! Even after decades I can lead you underground in mines that I have worked and show you the gold in the walls or back of the mining works. Still there waiting to be picked up. Dreaming of getting back and reopening some of those mines. Gold!
Good luck!
I don't have time to get back to their mine plans and technical report but ... think in terms of today's rivers. You have the main or active channel - the river flows through that trough; AND you have terraces or benches perched above the river. Worldwide most/much of the alluvial gold was recovered/placer mined from those benches/terraces.
The 'white' channels were first and had a lot of quartz (and gold) ripped from the veins through weathering and mass wasting processes. They are the richest. Then you have some volcanoes blowing up and depositing their load on top of the white channels. Then you have new rivers incising and getting to the white channels (and gold veins in hard rock) and robbing them of gold. That's why the 'black' channels (pebbles are dark due to being not that much quartz but volcanic rocks that the creeks cut thru)are somehow poorer in comparison with the white channels. Still very good areas to be mined. Profitably malc dear :)
That's it for now.
Cheers.
Today's PR is one of the best yet. Make no mistake it is about the discovery of an UNMINED part of a White Channel which are the richest! AND on top of that the presence of visible gold has been confirmed! Many other targets exist as well.
Wait til they work out a secure way to enter the unmined part of the Big Bend which is where the biggest Kali nuggets had been found. That would be this fall imo.
Imo under these circumstances in 1-1.5 years a larger co would acquire the Ruby from NBRI at a huge premium.
Good luck!
What are you talking about buddy? Can you dig into this and tell us what are you referring to?
Malc I gotta go but here's a short answer. NBRI is a junior exploration co when it comes to their Canadian tenements but a development company (fully fledged miner soon enough) when it comes to Ruby. Don't be grumpy. Cheers.
There is absolutely no junior miner valued so low. They are all at 6c or 9c or 15c. NBRI stock is heavily undervalued! imo.
Imagine a kitchen with all ingredients (on the table) and all utensils lined up on the side and some of the best chefs & cooks ready to ... start cooking. Well, this is NBRI today! They're waiting for the bell to ring. That's it!
You like it or not it is going to happen sooner not later. Yeah mining is not for the faint of heart. Sell baby if you cannot take the ride. Sell it when it doubles. Good bye!
Anyway rule no.1 would be to sell part of your position when it doubles so you'd get your initial investment back.
This is tough business. Leave the miners and the longs to responsibly invest and enjoy the X times bagger. imo.
Good news should be around the corner. Good luck everybody!
I have been in the mining business for quite a while. The way that you explore or 'prove' these mineral deposits varies a lot because they are all different.
Think of women! They're all women agree but there are lots of differences in between them. Some you approach with chocolate 'n champagne while others need something more expensive like cars, riviera apartments or yachts. Well some might settle down for the working guy the one that is quietly making advancements in their career or business. NBRI is the latter type. And their gold deposit is of the type that needs neither expensive drilling nor expensive showcases! You drill it only to see if you intersect it - i.e. not for grade - to see that it exist so you can guide your mining works to be able to intercept the gold channel. An old mining saying: 'Drill for structure and drift for grades'
An underground gold placer deposit of this type would be proved the same way as it was done in 1800s: drift on the channel and build cross-cuts left right to see how wide it is and what lies there. If you find a good size orebody or pothole filled with nuggets then you develop a stope and you mine out all the riches. You mine as you go baby! You could leave some unmined or if the grade is good enough you could either stockpile it and process it later or you could blend it with the richer material and process it.
Capisci?
Yeah right. It was bought on ebay and then displayed in a rusty pan ... C'mon Mr. Rooster you can do better than that!
Everything that goes on a public company's site is approved by directors and geologists. It might come as a surprise to you but this is not a ma n' pa website or operation.
North Bay Resources Inc. (NBRI) Reports New Discovery at Ruby Gold Mine; Drilling Successfully Intersects New Channel
http://www.juniorminingnetwork.com/junior-miner-news/news-releases/530-otcbb/nbri/31108-north-bay-resources-inc-nbri-reports-new-discovery-at-ruby-gold-mine-drilling-successfully-intersects-new-channel.html#.U7wawrFLO0M