North Bay Resources Inc (NBRI)

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Read the last few pages of the Ruby NI 43-101:

http://www.northbayresources.com/ruby/rubymine43101.pdf

Here is some of that report:

14.6 Targets for Further Exploration
The Ruby Mine property possesses a bountiful mineral endowment. It presents a
target rich environment to both the developer and the explorationist. In addition to
the defined resource base discussed above, the Ruby Mine property contains
numerous high quality exploration targets, nine of which will be discussed further in
this section of the report.
Potential quantities and grades have been calculated for one lode exploration and
eight placer exploration targets. The reader is cautioned that the potential quantities
and grades of the exploration targets discussed below are conceptual in nature. There
has been insufficient exploration to date to define a mineral resource for these
exploration targets. Furthermore, it is uncertain at this time if additional exploration
will result in these targets being delineated as mineral resources. The discussion
below presents the basis on which the potential quantity and grade has been
determined.
14.6.1 Potential Lode Exploration Targets
Wolf Vein – Potential tonnage and grade were calculated for the Wolf Vein, between
the – 365 (elevation 4360 msl) and – 1725 levels (elevation 3000 msl). The – 265 level
is the lowest level worked so far on the Wolf Vein. As was explained in Section 14.4,
inferred resources were calculated for this vein between the – 200 and – 265 levels.
The potential tonnage and grade calculated for the down dip extension of the known
mineralized envelope for this vein assumes that the mineralization continues at depth,
with the same grades, strike length and vein thickness as seen in the portions of the
vein that have been defined as resources (Figure – 17). This is a reasonable
assumption; lode mineralization at other mines in the district is known to persist
down the dip to depths of ~ 2000 ft.
Gold Quartz Vein mineralization outcrops at the level of the North Yuba River near
Downieville, at approx. elevation 3000 ft.msl. It is reasonable then to project the Wolf
mineralization to this elevation, a distance of 1725 ft. down the dip from where it
outcrops in the Ruby Tunnel.
The potential grade of the projected mineralization ranges between 0.166 and 0.35
opt. The “milling rock” produced by C.L. Best Co. from this vein in the 1930’s
averaged 0.166 opt, mainly as sulfide gold. When the specimen grade gold was added
to the mill production, the average grade was 0.35 opt (Henkle, 1983). Hence the
range of grades in the projection below: