SKIPPACK, Pa., April 11, 2011 /PRNewswire/ -- North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce that it has engaged Mr. Brian Simmons, P.Eng, to evaluate the Company's 100% owned Zeballos Gold Project on Vancouver Island, British Columbia, and to prepare a technical report on the property in compliance with National Instrument 43-101. Work is scheduled to begin before the end of April, 2011, weather permitting.
Mr. Simmons holds a B.S. degree in Mining Engineering from the Colorado School of Mines, and has been employed in various capacities as a mining engineer and consultant throughout British Columbia for the past 30 years. Notably, in 2005 Mr. Simmons co-authored a prospecting report on the Zeballos area for Newmex Minerals Inc., and in 2006 he authored an NI 43-101 Report on the A25 Gold Project located 15 km northwest of Zeballos. His extensive knowledge of the geological stratigraphy of Vancouver Island in general and the Zeballos region in particular makes him uniquely qualified to conduct the upcoming evaluation of the Zeballos Gold project for North Bay. Mr. Simmons is currently President of Rodell Enterprises Ltd., and is a Qualified Person as defined by National Instrument 43-101.
The Zeballos Gold Property covers 3,025 contiguous acres (1,225 hectares), and is located approximately three kilometers north of the village of Zeballos on the west coast of Vancouver Island in southwestern British Columbia. The property encompasses several past-producing gold mines with high-grade assays of gold mineralization documented in the BC MINFILE database to be as high as 10.34 ounces (321.7 grams) of gold per tonne. Three of these, the Golden Gate, Tagore, and Beano mines, are on open ground unencumbered by crown grants, and will be the primary focus initially.
Historical records show that the Golden Gate mine (MINFILE 092L 005) features a sulphide-rich vein system that is known to be over 168 metres in length. A 0.9 metre channel sample returned 25.4 grams (0.81 ounces) per tonne, and diamond drilling has encountered a 9.8 metre intercept of 9.6 grams per tonne gold, including a 1.5 metre section assaying 135.7 grams (4.36 ounces) per tonne gold and 44.2 grams per tonne silver.
The Tagore mine (MINFILE 092L 006) is situated approximately 1 kilometer due west of the Golden Gate. Limited mining in the past is documented to have averaged 2.86 ounces per tonne gold and 4.64 ounces per tonne silver.
The Beano mine (MINFILE 092E 002) is situated 1.5 kilometers southeast of the Golden Gate mine. Samples of massive pyrrhotite in the area have assayed up to 321.7 grams (10.34 ounces) per tonne gold and 6.8 grams per tonne silver over narrow widths.
A 2003 report by the British Columbia Ministry of Mining (MEMPR) entitled "Gold Opportunities in Southwest BC" states that "9.15 million grams Au were produced from 18 underground Au-quartz deposits in the Zeballos District on northwest Vancouver Island. Three deposits host resources totaling 395,000 tonnes @ 12.83 g/t Au containing 5 million grams Au. The district has potential for very high grade (150 g/t ) Au-skarn deposits evidenced by production grades from Beano (092E002) & Tagore (092L006)." As has been described above, North Bay now holds a 100% ownership position in both the Beano and Tagore deposits. The Company also notes that the resource estimate in the MEMPR report is historical, and not 43-101 compliant.
In 2004, a report published by the British Columbia Geological Survey states in its introduction that the Zeballos mining camp was an important gold producer in the 1930s and 1940s, and remains "in all likelihood significantly underexplored" (Source: Geological Fieldwork 2004, Paper 2005-1; Marshall, D., Close, S., Podstawskyj, N. and Aichmeier, A.; Gold Mineralization and Geology in the Zeballos Area, Nootka Sound, Southwestern British Columbia).
Links to all of the documents referenced in this press release are available on the Zeballos Gold page at the Company website, at http://www.northbayresources.com/zeballos.html.
Mr. Brian Simmons, P. Eng. is the Qualified Person as defined by National Instrument 43-101 for the evaluation of the Zeballos Gold Project and has reviewed this news release for technical accuracy.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: NBRI) is a fully-reporting junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada.
In the US, the Company holds an option to acquire the Ruby Gold Mine in Sierra County, California, and is presently looking to acquire additional operating mines in the western US.
The Company's mission is to build a portfolio of viable mining prospects throughout the world and develop them through subsidiaries and JV partners to their full economic potential. North Bay's business plan is based on the Generative Business Model, which is designed to leverage its properties into near-term revenue streams even during the earliest stages of exploration and development. This provides shareholders with multiple opportunities to profit from discoveries while preserving capital and minimizing the risk involved in exploration and development.
SAFE HARBOR FOR FORWARD LOOKING STATEMENTS
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although North Bay Resources Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by North Bay Resources Inc. or any other person that the objective and plans of North Bay Resources Inc. will be achieved.
Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on our website (or press releases), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form S-1 and subsequent Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml
SOURCE North Bay Resources Inc.