SKIPPACK, PA — North Bay Resources Inc. (OTC: NBRI), a burgeoning name in the mining sector, announced this week the successful initial powerup and testing of its Bishop Gold Mill equipment in Inyo County, California. This critical phase included the activation of key processing components such as a jaw crusher, ball mill, shaker table, and flotation tanks, signaling readiness for operational commencement.
The equipment, which has remained unused since the mill’s permitting in 2019, demonstrated excellent working condition, promising low maintenance and high efficiency for upcoming operations. North Bay also plans to replace the bushings on the ball mill to ensure uninterrupted functionality, showcasing a proactive approach to maintenance.
Currently, North Bay is in active discussions to secure feedstock for the mill. The company aims to acquire an initial 10,000 tons of feedstock, which is expected to yield approximately 8,500 ounces of gold, considering a recovery rate of 85%. At the current spot price of $2,350 per ounce, this could translate to a significant revenue stream of around $20 million for the company.
The acquisition of a 55.5% stake in the Bishop Gold Mill, as detailed in a previous announcement on April 8, 2024, positions North Bay Resources for strategic growth in the gold mining industry. The mill’s capacity to process up to 96 tons of material per day—or roughly 3,000 tons monthly—coupled with its existing permits, sets the stage for a swift scale-up of operations once feedstock negotiations conclude.
This development comes at a time when the gold market continues to attract investor interest, amid fluctuating global economic indicators and the search for safe-haven assets. The successful commissioning of the Bishop Gold Mill not only marks a significant milestone for North Bay Resources but also hints at the potential revitalization of dormant gold resources in the region.
By securing a reliable source of feedstock and leveraging the mill’s low-hour, high-condition equipment, North Bay is strategically positioned to tap into the lucrative gold market. This move could have broader implications for the local economy, potentially creating jobs and fostering economic activity in Inyo County.
Investors and industry watchers will be keenly observing North Bay’s progress as it transitions from setup to gold production, representing a notable example of the mining sector’s enduring role in resource development and value creation.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.