North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia

Rhea-AI Summary

North Bay Resources announced the results of recent exploration at its Fran Gold Joint Venture in British Columbia. Assays from trenches B and C revealed gold concentrations of 0.53 and 0.44 troy ounces per ton, respectively, marking the Bullion Alley Zone as a significant area for potential gold extraction. Additional assays from trenches A and B indicated 0.9% copper content.

The assays were conducted at ALS Global Laboratory using fire assay and ICP methods. The Fran Gold Project is a 50/50 joint venture with MGX Minerals, encompassing 34,360 acres. Extensive drilling has identified substantial gold deposits, including a 3,700-foot-long deposit with veins containing up to 2.6 troy ounces of gold per ton.

Positive

• Assays from trenches B and C report high gold concentrations of 0.53 and 0.44 troy ounces per ton.
• Trenches A and B show 0.9% copper content, indicating valuable copper deposits.
• Extensive drilling has identified a significant gold deposit, 3,700 feet in length, with veins grading up to 2.6 troy ounces of gold per ton.
• Surface trenching has discovered near-surface gold-bearing veins, making extraction more accessible.
• The Fran Gold Project is a large joint venture, covering 34,360 acres, indicating substantial exploration potential.

Negative

• Awaiting metallurgical test results to determine effective gold separation methods, which could delay further development.
• High iron content in assays could complicate the extraction process.
• The variability in gold content across samples, with some as low as 0.03 troy ounces per ton, indicates inconsistent mineralization.

BISHOP, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce assays have been received from recent exploration at its Fran Gold Joint Venture (the “Property” or “Fran”). Assays were taken over a wide area of known gold mineralization across pre-existing trenches A through E. Assays from separate composite samples from trenches B and C resulted in near identical results of 0.5 troy ounces per ton of gold. This central area of the Property is recognized as the richest area in the Bullion Alley Zone, and is supported by extensive drilling, reflecting a potential feeder zone. This area remains the focus of upcoming bulk sampling. In addition, trenches A and B, assayed 0.9% copper with high iron.

Assays were completed at ALS Global Laboratory, North Vancouver, BC, utilizing fire assay with atomic absorption finish for gold, ALS Method Au-AA25 and 36 Element Aqua Regia ICP for other minerals, ALS Method ME-ICP41.  

Results as follows:

Sample ID	Trench ID	Au Troy Oz per Ton	Ag Troy Oz per Ton	Cu %	Zn %	Fe %	S %
3601	E	0.08	0.22	0.13	0.01	11.1	1.63
3602	E	0.09	0.12	0.14	0.01	9.24	1.75
3603	D	0.03	0.12	0.11	0.02	8.79	3.7
3604	C	0.53	1.2	0.09	1.34	4.85	2.07
3605	B	0.44	1.75	0.9	0.32	34.9	10
3606	A	0.14	0.07	0.9	0.02	28.6	10

North Bay currently awaits metallurgical test results that will define the specific compounds of the mineralization. This will assist the Company in determining the applicability of gravity and flotation recovery methods for the separation of the gold.

Fran Gold Project

North Bay has entered a 50/50 joint venture earn-in agreement with MGX Minerals, Inc., regarding the Fran Gold Project, British Columbia. The Property is 34,360 acres and is located 20 miles from Centerra Gold’s 60,000 tonne per day Mt. Milligan Copper, Gold Mine (299Mt @ 0.22% Cu, .45 g/t Au). To date there has been in excess of 50,000 feet of diamond drilling in 104 holes at Fran, primarily at the Bullion Alley Zone. A gold deposit, 3700 feet in length, with width of up to 120 feet, and depth of over 700 feet has been delineated. The deposit contains 3 to 4 well defined parallel gold veins grading up to 2.6 troy ounces of gold per ton as well as wide sections of low and mid-grade gold in veins and disseminated in veinlets throughout the deposit. Surface trenching has identified a near surface sub-zone where the gold bearing veins swell and are accessible from surface. In addition, samples have assayed up to 1.68% copper and 5.1 troy ounces per ton silver. There is property wide potential for additional discoveries of gold and copper with numerous showings outside of the Bullion Alley Zone.

Qualified Person

Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.

About North Bay Resources

North Bay Resources operates the 100 ton per day Bishop Gold Mill in Inyo County, California. The Company owns the Murex Copper-Gold Project, the Copper Island Copper-Silver Project, the Tulameen Platinum Project, and is a 50/50 Joint Venture Partner in the Fran Gold Project all located in British Columbia, Canada. The Company seeks to return value to shareholders by staged acquisition, exploration and development of its metals projects and through the utilization of its gold milling facilities.

On behalf of the Board of Directors of

NORTH BAY RESOURCES INC.

Jared Lazerson
CEO

310-584-7278

info@northbay-resources.com

northbay-resources.com

X: @NorthBayRes

Facebook: North Bay Resources Inc | Facebook

LinkedIn: North Bay Resources Inc | LinkedIn

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.

FAQ

What are the recent assay results for NBRI in the Fran Gold Joint Venture?

Recent assays from trenches B and C revealed gold concentrations of 0.53 and 0.44 troy ounces per ton.

What is the copper concentration found in the Fran Gold Project assays?

Assays from trenches A and B indicated a copper concentration of 0.9%.

Where were the recent assay tests for NBRI conducted?

The assays were conducted at ALS Global Laboratory in North Vancouver, BC.

What is the significance of the Bullion Alley Zone in the Fran Gold Project?

The Bullion Alley Zone is recognized as the richest area with high gold concentrations, making it a focal point for upcoming bulk sampling.

How extensive is the Fran Gold Project joint venture between North Bay and MGX Minerals?

The Fran Gold Project is a 50/50 joint venture covering 34,360 acres.