Jun 14 18/ this for sure-100% owned/ North Bay Resources Inc. Key Developments
North Bay Resources Inc. Issues Update on Tulameen Platinum Project
Jun 14 18
North Bay Resources Inc. announced that the Company will be initiating its 2018 exploration season at its
100% owned Tulameen Platinum Project in southeastern British Columbia on June 20, 2018.
This work is intended to build upon the positive results from
2016 exploration program that focused on a large deposit of
commercial-grade olivine identified in the PGM mineralized areas of the property.
In addition, the Company reports that it has recently expanded the
size of property with the staking of
2 additional claims adjacent to the northwest and southwest quadrants
of the property.
The claim in the northwest quadrant expands the known olivine resource, and the other claim is believed to host a new PGM occurrence.
The Tulameen Platinum Project covers a sizeable part of the
dunite core of the Tulameen Ultramafic Complex that hosts
platinum,
palladium,
iridium,
rhodium and
osmium mineralization,
and which is often accompanied by chromite and magnetite.
It is this part of the dunite core that has been eroded by the
Tulameen River over time
and resulted in the release of most of the
20,000 ounces platinum
that had been historically mined by placer operations along the
Tulameen River and its tributaries.
It is thus belief that the Company’s Tulameen Platinum Project
property hosts the lode source of most of the historical placer platinum production in the Tulameen District.
In addition to the well-established evidence of extensive
Platinum Group Metals (PGM) mineralization on the property,
the Company notes that the ground covered by the
Tulameen Platinum Project
is also known to host an estimated 15 million tonne drill-delineated
historical resource of olivine.
An industrial mineral,
olivine is a magnesium iron silicate that is also known as
peridot and
chrysolite.
