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Monday, November 07, 2011 9:25:05 PM
North Bay Resources Inc. (NBRI) Begins Phase II Pre-Production Operations at Ruby Gold Project
North Bay Resources (OTCBB:NBRI)
Historical Stock Chart
1 Month : October 2011 to November 2011
North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce that Phase I of the pre-production plan at the Ruby Gold Project in Sierra County, California has been completed, and Phase II operations have now begun.
The Phase I program, which began in July 2011, was conceived as a program of comprehensive inspection and refurbishing to prepare the Ruby Mine for the start-up of mining operations. This involved work to recondition the surface infrastructure for the resumption of mining operations, including work to clear and reinforce the settling ponds, shore up the retaining walls around the mill, stabilize and regulate the water discharge system, survey and expand the tailings area, and test the mine ventilation system. PG&E has also completed their inspections and has certified the electrical installations. All power lines and poles leading up to the property and extending 1,200 feet through the property to the Lawry Shaft have been inspected and repaired or restrung as-needed, and full power is scheduled to be restored imminently.
The Phase II work entails restoring underground ventilation throughout the entire length of the Ruby tunnel system. This is the first stage in reopening the Ruby tunnel entirely, from the Ruby Portal to the secondary exit at the Lawry Shaft, by clearing the underground workings of extraneous debris and re-timbering as-needed. Materials and equipment are being prepositioned, and the work has now begun. The work is being performed by CME Services, a fully-qualified and licensed mining contractor, and is expected to take a minimum of four to six weeks.
As always, the Company will keep shareholders informed of our progress as operations continue.
About The Ruby Gold Project
The Ruby Mine, a/k/a the Ruby Gold Project, is a fully-permitted underground placer and lode mine located near Downieville in Sierra County, California that is known to have produced over 250,000 ounces of gold since the 1850's, and which is considered to be part of the northern extension of the historic Mother Lode system. The Ruby Property covers approximately 1,755 acres, consisting of the subsurface mineral rights of two patented claims totaling approximately 435 acres and 30 unpatented claims containing approximately 1,320 acres. The equipment, fixed assets, and infrastructure in place include a 1,000 yard per day placer wash plant, 50-ton per day quartz mill, 6,000 feet of tracked haulage, and related support equipment needed for underground mining operations. The property also features an excellent system of roads, is accessible via paved highway from Reno or Sacramento, has abundant water and timber available for mining purposes, and has PG&E power available on-site. For further information about the Ruby Mine, please visit the Ruby page on the North Bay website at http://www.northbayresources.com/ruby/.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: NBRI) is a fully-reporting junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada.
In the US, the Company owns the Ruby Gold Mine in Sierra County, California, and is presently looking to acquire additional operating mines in the western US.
The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential. North Bay's business plan is based on the Generative Business Model, which is designed to leverage its properties into near-term revenue streams even during the earliest stages of exploration and development. This provides shareholders with multiple opportunities to profit from discoveries while preserving capital and minimizing the risk involved in exploration and development.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although North Bay Resources Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by North Bay Resources Inc. or any other person that the objective and plans of North Bay Resources Inc. will be achieved.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on our website (or press releases), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form S-1 and subsequent Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml
Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com
I could make me money off this post if the stock goes up. It could also lose me money if the stock goes down.
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