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North Bay Resources Announces Acquisition of Copper Island Project with Assays up to 14.7% Cu and Appointment of New CEO
North Bay Resources Announces Acquisition of Copper Island Project with Assays up to 14.7% Cu and Appointment of New CEO.
About this update from North Bay Resources, Inc.
[{"type":"text","content":"\n SKIPPACK, Pa., Feb. 16, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce that the Company has entered into an agreement to acquire a 100% interest in the 1056 hectare Copper Island Red-Bed Copper Project (the “Property” or the “Project”), located in British Columbia, Canada, The agreement (the “Agreement”), is between the Company and Copper Island Mines Ltd.(the “Vendor”). Recent geochemical exploration (Summer 2023) on the Property has yielded up to 14.7% Cu (B.C. Assessment Report 41377). The project is proximate to the Company’s Wolf Lake Project where recent sampling returned up to 3.12% Cu and up to 22 g/t Au. Historic Exploration and Development Work Considerable previous work has been performed on the Pomeroy Group copper-silver bearing mineralization. Modern exploration began in 1952-53, when Dodge Copper carried out a detailed exploration program of trenching and diamond drilling. Dodge Copper drilled 145 holes totaling 8800 feet on various deposits. Extensive drilling and trenching of the mineralized zones was completed by Prince Stewart Mines Ltd. in 1972-74. In 2011, the claims were acquired by Copper Island Mines Ltd, and a program of geochemical sampling was carried out on the Pomeroy, Beaver and Colleen Zones. A significant portion of geochemical sampling returned >2% Cu from numerous new & historic copper-silver bearing mineral occurrences (Betmanis, 2012). Property Mineral Occurrences Historic estimates were completed prior to NI 43-101, while completed by qualified geologists and/or engineers of their day they are historic in nature. The following list describes historic resources of nine British Columbia Ministry of Mines, Energy, and Carbon Reduction MINFILE occurrences located within Copper Island mineral claims: POMEROY 1:16,500 tons @ 3.67% Cu POMEROY 2:PROVEN: 5,000 short tons @ 2.70% Cu INDICATED: 17,000 tons @ 2.70% Cu POMEROY 3+4PROVEN: 972,400 short tons @ 1.22% Cu INDICATED: 472,000 tons @ 1.62%Cu POMEROY 5:53,200 tonnes @ 1.00% Cu BEAVER 1:19,375 tons @ 1.74% Cu HALL:PROVEN: 5,000 tons @ 3.45% CuINDICATED: 50,000 tons @ 2.40% Cu COPPER BELL 1 + 2: 112,000 tons @ 2.55% Cu *Reserve Estimates - Sheppard, 1974. Prince Stewart Mines Ltd. CEO Appointmen...