North Bay Resources Set to Begin Underground Operations at Mt. Vernon Gold Mine
TL;DR
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.
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North Bay Resources is gearing up to commence underground operations at the recently acquired Mt. Vernon Gold Mine, located in Sierra County, California, near Lake Tahoe. This development is poised to leverage North Bay's existing 100-ton-per-day gold mill in Inyo County, marking a significant step in the company's operational strategy.
The Mt. Vernon Gold Mine will undergo initial underground activities next week, focusing on sampling and confirmatory work. A tunnel extending approximately 150 feet will be the primary site for channel sampling on both its north and south faces. Assays from 2023 have revealed that the main zone contains over one ounce of gold per ton, prompting plans for a mini bulk sample to set the stage for more extensive bulk mining. Results from these efforts are anticipated within a few weeks.
This acquisition aligns with North Bay's strategy to utilize its milling capacity, bolstered by the historical gold production in the area. The Mt. Vernon mine, situated upstream from the historically rich Ruby mine, has shown promising assay results akin to those of the Ruby channel. The largely untouched ground suggests significant potential for future gold extraction.
CEO Jared Lazerson expressed optimism about the acquisition and emphasized the commencement of underground work as a pivotal step forward. This move highlights North Bay's commitment to enhancing its operational capabilities and capitalizing on the region's rich mineral resources.
Curated from News Direct
