North Bay Resources (OTC:NBRI) has announced its first gold concentrate sale settlement from a test shipment of ore originating from the Fran Gold Project. The ore was processed at the Bishop Gold Mill in California. The initial concentrate comprised 10 tonnes of gross ore, inclusive of moisture content. The net value realized from this sale equates to US$400 per tonne. Currently, North Bay Resources has another test shipment undergoing processing and has already completed a third gold concentrate shipment.
Assay comparisons between North Bay’s in-house results and refinery findings for gold, silver, and moisture content have been successfully reconciled. The company has stockpiled 75 tonnes of ore at the Bishop Gold Mill, which will undergo continued processing as part of ongoing optimisation and ramp-up efforts, with additional shipments planned. The focus of optimisation is currently on the flotation circuit. With all required reagents secured, the mechanical components of the flotation circuit have been tested and selective titration control testing for frothers and reagents is underway. Implementation of the flotation circuit is projected to potentially double the current gravity-only recovery rate, with an anticipated overall recovery exceeding 90%.
Furthermore, North Bay Resources has initiated the start-up of its concentrate drying circuit to reduce moisture content before refinery shipment. Recent data re-compilation at the Fran Project has revealed a bulk tonnage gold deposit, estimated to be over 1,000m by 100m by 300m within a 1,700m strike length. A 3D model derived from drilling data between 2018 and 2019 provides an initial volumetric representation of the deposit, accounting for less than half of the known deposit and utilizing only a fraction of the 104 drillholes. The Fran Project encompasses 34,360 acres and is situated 20 miles from Centerra Gold’s Mt Milligan Copper-Gold Mine in British Columbia, Canada.
