North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz/ton Silver, Sierra County, California

Rhea-AI Summary

North Bay Resources Inc. (OTC: NBRI) has announced promising results from gravity recovery testing of run-of-mine ore at its Mt. Vernon Gold Mine in Sierra County, California. The tests yielded high-grade concentrates containing gold (up to 11.95 oz/ton), platinum (up to 17.54 oz/ton), and silver (up to 7.79 oz/ton). This marks the first known discovery of platinum at Mt. Vernon, potentially increasing the ore value by up to 50% in select concentrate streams.

The company has begun testing its on-site metals furnace to produce Dore bars and platinum buttons for shipment to a refinery in Reno, Nevada. The Mt. Vernon Mine is estimated to contain 954,000 tons of ore with consistent assays over 1 ounce per ton across a 200-foot-wide gold-bearing zone. North Bay is also conducting exploration at its Murex Copper-Gold Project and Fran Gold Joint Venture.

Positive

• High-grade gold, platinum, and silver concentrates produced from Mt. Vernon Gold Mine ore
• First-time discovery of platinum at Mt. Vernon, potentially increasing ore value by up to 50%
• Successful extraction and concentration of gold using existing mill equipment
• Mt. Vernon Mine estimated to contain 954,000 tons of ore with consistent assays over 1 oz/ton gold
• Ongoing exploration at Murex Copper-Gold Project and Fran Gold Joint Venture

Negative

• None.

BISHOP, Calif., Aug. 22, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce results from gravity recovery testing of run-of-mine ore from the Mt. Vernon Gold Mine. The run-of-mine ore was crushed in a ball mill to minus 60 mesh and run over a gravity recovery table resulting in two concentrate streams at approximately 10x concentration of gold with assay results as follows:

Sample I.D.	Gold	Platinum	Silver
	oz/ton	oz/ton	oz/ton
#C1 MV Cons	11.95	17.54	7.79
#C2 MV Cons	11.38	2.20	5.59

The testing was completed at Enviro-Chem Analytical Laboratory using run-of-mine ore from the main channel at the Mt. Vernon Gold Mine. While metallurgical testing is ongoing, initial results have confirmed the viability of extraction of gold, platinum, and silver using a basic grind and gravity recovery circuit. The test circuit is essentially identical to the grind and gravity recovery circuit at the Company’s 100 ton per day Bishop Gold Mill. With mine and mill start-up currently underway, and as a result of the successful extraction and concentration of gold, the Company has begun testing of the on-site metals furnace and related equipment at the Mill for the purpose of upgrading concentrate into and pouring Dore bars and producing platinum buttons for shipment to the metals refinery in Reno, Nevada.

Platinum

This is the first known discovery of platinum at Mt. Vernon. There has been little historical work done on platinum at Mt. Vernon. The region, in general, is not known for platinum. The Company is completing further work on this aspect of the deposit to further understand the gold-platinum relationship and the potential for increasing the per ton value of the ore by up to 50% in select concentrate streams. Recent results show a recoverable gold to platinum ratio of up to 1:1.5 through basic grind and gravity separation. Gravity recoverable platinum, while rare is not unknown in placer type deposits. The discovery of gravity recoverable platinum represents a significant advancement at the Mt. Vernon Gold Mine.

Mt. Vernon Gold Mine

The Mt. Vernon Mine is a largely undeveloped deposit, proximate to some of the richest past producing gold mines in North America. Mt. Vernon is a permitted underground mine with modern portal, tunnel, ventilation. power, and equipment. The ore body is estimated at 954,000 tons based on the known channel (B. Hanford 2023).   The modern access tunnel at Mt. Vernon runs across the known 200-foot-wide gold bearing zone with consistent assays over 1 ounce per ton. The channel is up to 500 feet wide and extends over 2000 feet in length throughout the property. The channel varies in thickness from 4 feet to as much as 20 feet. Typically, the lower 4 feet of the channel contains the higher gold grades.

Murex Copper-Gold Exploration

A second round of Summer Exploration at the Company’s Murex Copper-Gold Project is currently underway. The Company has identified a high grade NE-SW copper trend at surface and has re-established the location of the known copper-gold deposit developed by Noranda (now Glencore) in the 1980’s. Further sampling is underway and a comprehensive re-evaluation of the property will follow this second program.

Fran Gold Exploration

The Company has completed property wide exploration at the Company’s Fran Gold Joint Venture with assays now pending. A shipment of 5 x 50lbs samples has been shipped and received at the Company’s Bishop Gold Mill for further evaluation and testing, including ore from the main Bullion Alley zone where consistent ore grade of 0.5 ounces per ton has been established over a wide area and is the focus of ongoing development.

On behalf of the Board of Directors of

NORTH BAY RESOURCES INC.

Jared Lazerson
CEO

info@northbay-resources.com

northbay-resources.com

X: @NorthBayRes

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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 were the assay results for gold, platinum, and silver at North Bay Resources' Mt. Vernon Gold Mine?

The assay results from gravity recovery testing at Mt. Vernon Gold Mine showed concentrates containing up to 11.95 oz/ton gold, 17.54 oz/ton platinum, and 7.79 oz/ton silver.

How significant is the discovery of platinum at North Bay Resources' Mt. Vernon Gold Mine?

The discovery of platinum at Mt. Vernon is highly significant as it's the first known occurrence at the site. It has the potential to increase the per ton value of the ore by up to 50% in select concentrate streams.

What is the estimated size of the ore body at North Bay Resources' Mt. Vernon Gold Mine?

The ore body at Mt. Vernon Gold Mine is estimated at 954,000 tons based on the known channel, with consistent assays over 1 ounce per ton across a 200-foot-wide gold-bearing zone.

What other projects is North Bay Resources (NBRI) currently exploring?

North Bay Resources is currently conducting exploration at its Murex Copper-Gold Project and has completed property-wide exploration at its Fran Gold Joint Venture, with assays pending.