Proactive - Interviews for investors
North Bay Resources announces first gold concentrate sale from Fran Gold Project
North Bay Resources CEO Jared Lazerson joined Steve Darling from Proactive to share news of the company’s first successful gold concentrate sale from a test shipment processed at the Bishop Gold Mill, using ore from the Fran Gold Project. Lazerson confirmed that final acceptance and settlement have been completed, with all refinery requirements met, and assay comparisons for gold, silver, and moisture content agreed upon.
The test concentrate represents approximately 10 tons of gross ore, processed through the gravity-only circuit. Lazerson noted this marks an important milestone in the early phase of operations. The flotation circuit, which is expected to significantly enhance recovery rates, is set to come online this month. The company currently has another test shipment in process and has completed a third concentrate shipment, further validating operational momentum.
The most recent sale netted approximately $400 per ton, based solely on gravity recovery. However, with further optimization and the integration of the flotation circuit, recoveries are projected to double, potentially reaching over 90% total recovery. This would raise the value per ton to around $800, significantly improving project economics.
North Bay Resources currently has 75 tons of ore stockpiled at the Bishop Gold Mill, which will be processed as part of continued optimization and ramp-up. Additionally, there are approximately 5,000 tons of ore stockpiled at the project site, positioning the company for a steady flow of future shipments as operations scale.
The CEO also discussed the reinterpretation of 15 years of historical drilling data—104 holes covering 18,000 metres—which has revealed the potential for a bulk tonnage deposit. This reinterpretation aligns with nearby major low-grade, high-volume gold projects like Mount Milligan and Blackwater.
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