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North Bay Resources Announces First Gold Concentrate Settlement and up to 160m (525 ft.) @ 0.6 g/t Au, including 76m (249 ft.) @ 1.1 g/t Au, Fran Gold Project, British Columbia
North Bay Resources Announces First Gold Concentrate Settlement and up to 160m (525 ft.) @ 0.6 g/t Au, including 76m (249 ft.) @ 1.1 g/t Au, Fran Gold Project, British Columbia.
About this update from North Bay Resources, Inc.
[{"type":"text","content":"\n BISHOP, Calif., April 07, 2025 (GLOBE NEWSWIRE) -- North Bay Resources, Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce final acceptance and settlement of the Company’s first gold concentrate sale from a test shipment of ore from the Company’s Fran Gold Project processed at the Company’s Bishop Gold Mill. All Refinery requirements have been met and comparison of assays between the Company’s assay and in-house assay, for settlement of the gold, silver, and moisture content have been agreed. The Company utilizes ALS Geochemistry, Reno, NV, for concentrate assay and the Refinery, Just Refiners, Reno NV, utilizes their in-house laboratory. The concentrate represents approximately 10 tons of gross ore processed inclusive of moisture content. The recovery is from initial operations of the gravity only circuit with the flotation circuit to be brought on-line this month. The Company currently has an additional test shipment in process and has recently completed a 3rd gold concentrate shipment. Refinery Settlement LBS. (WET) 281 MOISTURE 18.22%LBS (DRY) 230 DST 0.115   Au oz/dst 12.181 Ag oz/dst 5.719   Au: 1.401 oz Ag: 0.658 oz   Metal Price Aptil 2, 2025 Au$3,119.75 Ag$33.87   Total Value$4,172.29 Net Payment$3,981.83      Bishop Gold Mill Operations The net value paid on the recent gold sale is equivalent to approximately $400 per ton. Further optimization of the gravity circuit along with the implementation of the flotation circuit are expected to increase recovery by up to 100% generating greater than 90% total recovery and a commensurate increase in value per ton to $800. In addition, ore control and head grade monitoring will be implemented as shipment sizes increase to give greater predictability and mass balance control at the Mill. Transportation costs for the recent 120 ton shipment from Fran was approximately $300 per ton which is expected to decrease to $200 per ton for all future shipments as a result of the recent opening of a new rail siding proximate to Fran. The siding was designed for ore on-loading from the nearby recently opened Blackwater Gold Mine and became operational on March 31, 20...