Curated News
By: NewsRamp Editorial Staff
July 25, 2024

North Bay Resources CEO provides update on Mt. Vernon Gold Mine acquisition

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Source News Release

TLDR

  • North Bay Resources' acquisition of the Mt. Vernon Gold Mine positions them to tap into rich gold deposits, giving them a significant advantage in the market.
  • The Mt. Vernon Gold Mine acquisition will integrate with North Bay's existing 100-ton-per-day gold mill in Inyo County, focusing on sampling, confirmatory work, and underground operations.
  • The acquisition of the Mt. Vernon Gold Mine is in line with North Bay's strategy to utilize its milling capacity, potentially leading to increased job opportunities and economic growth in the area.
  • The largely untouched ground of the Mt. Vernon Gold Mine suggests significant potential for gold production, making it an exciting prospect for investors and geology enthusiasts.

Impact - Why it Matters

This news matters as it provides insight into North Bay Resources' strategic acquisition and operational plans for the Mt. Vernon Gold Mine, which could have potential implications for the gold mining industry and local economy in the Sierra County, California area.

Summary

North Bay Resources CEO Jared Lazerson provided an operational update on the company's recent acquisition, the Mt. Vernon Gold Mine. The mine, situated in Sierra County, California, near Lake Tahoe, is set to integrate with North Bay's existing 100-ton-per-day gold mill in Inyo County. Crews are gearing up to commence underground operations next week, focusing on sampling and confirmatory work. The mine features a tunnel extending approximately 150 feet, where channel sampling will be conducted on both its north and south faces. Assays from 2023 have indicated that the main zone contains over one ounce of gold per ton, leading to plans for a mini bulk sample to set the stage for more extensive bulk mining. Initial results from these efforts are expected within a few weeks. The acquisition aligns with North Bay's strategy to utilize its milling capacity, supported by the historical gold production in the area.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, North Bay Resources CEO provides update on Mt. Vernon Gold Mine acquisition

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