Business
North Bay Resources Inc. (NBRI) Announces Spin Off of Wolf Lake Gold and Murex Copper
North Bay Resources Inc. (NBRI) Announces Spin Off of Wolf Lake Gold and Murex Copper.
About this update from North Bay Resources, Inc.
[{"type":"text","content":"SKIPPACK, PA., January 24, 2023 – – North Bay Resources Inc. (OTC: NBRI) (“North Bay” or the “Company”) is pleased to report that our Mt. Washington property on east-central Vancouver Island was recently restaked and spun off into two separate and distinct projects; the Wolf Lake Gold project, and the Murex Copper project.Wolf Lake Gold is near Constitution Hill, approximately 25 kilometres due west of Courtenay, BC, and encompasses 876 acres (355 hectares) on the north end of Wolf Lake. It includes various gold-bearing sulphide vein showings, notably the Road Zone, the Bluff Zone, the Creek Zone, the Lake Zone, and the Lupus Zone. These gold-bearing sulphide veins have been the subject of multiple exploration efforts over the years, both by the Company as well as previous operators. The Lupus zone is on Constitution Hill, adjacent to Wolf Lake, and has assayed up to 84 grams (2.7 ounces) per tonne gold and 177 grams (5.7 ounces) per tonne silver. The Road Zone has yielded grab sample assays of 21.94 grams per tonne gold, 30.86 grams per tonne silver, and 0.66% copper from quartz-sulphide vein rubble. Other significant assays include 70.1 g/t (2.25 ounces) gold, 115 g/t (3.7 ounces) silver, and 7.2% zinc (Lake Showing), 92.5 g/t (2.97 ounces) gold, 195 g/t (6.27 ounces) silver, 0.96% copper, 0.45% lead, and 5.98% zinc (Lake Showing), 11.9 g/t gold (Creek Showing), 5.9 g/t gold, 55.0 g/t silver, 1.54% copper (Lupus), and 75.8 g/t (2.44 ounces) gold (Bluff Zone). It is believed that there is a good potential for discovering more high-grade gold zones and of extending the known zones.Murex Copper encompasses 3,763 acres (1,524 hectares) between Wolf Lake and Mt. Washington. In the Company’s most recent NI 43-101 technical report focused on Murex Copper, it was stated that \"underground, steeply‐dipping, bulk mineable, clustered, breccia deposits totaling 100 million tonnes @ 1 g/t gold, 5 g/t silver, 0.50% copper, 0.01% molybdenum, 5 g/t tellurium and 0.5% arsenic” represents a reasonable exploration target model. Murex Copper also includes a NI 43-101 and CIM compliant resource estimate on the tailings dam that is adjacent to the Murex Zones and 100% owned by the Company. This tailings resource estimate as specified by NI 43-101 consists of 241,625 tonnes at 0.119 g/t gold, 5.68 g/t silver, 0.098% copper, an...