SKIPPACK, PA — North Bay Resources Inc. (OTC: NBRI), a natural resources exploration company, recently announced promising results from its latest exploration efforts at Mount Washington and Wolf Lake Gold on Vancouver Island. The four-day exploration program, conducted in mid-September, involved geological mapping, prospecting, and selective rock sampling across six locations.
The compilation of geological mapping, plotting of geochemical results, and the completion of a NI 43-101 technical assessment report by Mr. Jacques Houle, P.Eng., have all been completed and released for public viewing on the company’s website.
Notable findings from the geochemistry include:
- A sample from the newly discovered Ridge Zone, taken from a thin quartz-sulphide vein, yielded 22.2 g/t gold, 48.3 g/t silver, 0.632% copper, and 8.11% zinc.
- A sample from another new discovery, the Blast Zone, revealed 1.18 g/t gold, 71.8 g/t silver, 3.12% copper, and 0.269% zinc.
- A sample from the Road Zone demonstrated significant quantities of gold, silver, copper, tellurium, and zinc.
- The Lake Zone sample, taken from a thick sulphide-quartz vein, assayed 60.3 g/t gold, 141 g/t silver, 91.6 g/t bismuth, 0.627% copper, 0.988% lead, 561 g/t antimony, and 6.76% zinc.
These discoveries are particularly significant given the increased market prices for gold, silver, copper, molybdenum, and tellurium since the last major exploration programs on the Mount Washington Property in 1992. Additionally, advancements in exploration techniques and improved understanding of mineral deposits by economic geologists could lead to more efficient and effective mining operations.
The report by Mr. Houle concluded that the Mount Washington Property and the Wolf Lake Gold claim area warrant further exploration. This is due to the potential for economically viable mineral resources of gold, silver, copper, molybdenum, and/or tellurium that could be permitted, mined, and processed. An initial $1 million program is planned to target both bulk mineable mineral resources and high-grade narrow vein resources, establishing environmental and socio-economic programs necessary for long-term success.
With total exploration expenditures on the property estimated at about $5.25 million, excluding mining and development costs, North Bay Resources is poised to capitalize on these promising discoveries, potentially bringing significant returns to its shareholders. The full report is available on the company’s website.
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