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North Bay Resources Completes Initial Mining Test at Fran Gold Project
ByAinvest
Tuesday, Aug 5, 2025 10:12 pm ET1min read
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The extracted ore is grey in color, blocky when broken, and heavily oxidized. The company has packed approximately 10 tons of ore into supersacks and plans to resume loading in approximately 10 days with an expanded crew. The ore will be shipped to the company's Bishop Gold Mill for processing [1].
The company has begun the permitting process for a 10,000-tonne extraction program, which could lead to a small mine permit or a large-scale operation. The project lies near major Canadian gold and copper operations, including Centerra Gold's Mt. Milligan Project and Artemis Gold's Blackwater Mine [1].
Based on recent and historical assays, the gross value of the ore is $1,700 per ton. However, the company estimates that direct operating costs, including shipping, mining, and processing, total $435 per ton. After accounting for dilution and recovery losses, the estimated payable gold is $1,034 per ton, resulting in a gross profit of $599 per ton [1].
The company plans to continue development work into the fall. As production volumes increase, the company expects costs to decline, particularly in transportation and mining costs, by up to 30% [1].
North Bay Resources is also in the process of uplifting to become a fully reporting issuer and achieving other minimum requirements to move from OTCID to OTCQB or other equivalent international exchange [1].
References:
[1] https://investingnews.com/north-bay-resources-advances-development-of-massive-sulphide-zone-at-fran-gold-project-british-columbia/
North Bay Resources has completed initial test mining at its Fran Gold Project in BC, extracting high-grade ore with up to 0.5 ounces per ton of gold. The company plans to continue development and expects costs to decline as production volumes increase. North Bay is also initiating the permitting process for a 10,000-tonne extraction program, which could lead to a small mine permit or a large-scale operation. The project lies near major Canadian gold and copper operations.
North Bay Resources, Inc. (OTC: NBRI) has completed initial test mining at its Fran Gold Project in British Columbia, Canada. The company announced on August 5, 2025, that it has extracted ore with up to 0.5 ounces per ton of gold from the massive sulphide surface outcrop [1]. The ore is heavily mineralized with gold, copper, and silver, primarily in the form of chalcopyrite, marcasite, and sphalerite [1].The extracted ore is grey in color, blocky when broken, and heavily oxidized. The company has packed approximately 10 tons of ore into supersacks and plans to resume loading in approximately 10 days with an expanded crew. The ore will be shipped to the company's Bishop Gold Mill for processing [1].
The company has begun the permitting process for a 10,000-tonne extraction program, which could lead to a small mine permit or a large-scale operation. The project lies near major Canadian gold and copper operations, including Centerra Gold's Mt. Milligan Project and Artemis Gold's Blackwater Mine [1].
Based on recent and historical assays, the gross value of the ore is $1,700 per ton. However, the company estimates that direct operating costs, including shipping, mining, and processing, total $435 per ton. After accounting for dilution and recovery losses, the estimated payable gold is $1,034 per ton, resulting in a gross profit of $599 per ton [1].
The company plans to continue development work into the fall. As production volumes increase, the company expects costs to decline, particularly in transportation and mining costs, by up to 30% [1].
North Bay Resources is also in the process of uplifting to become a fully reporting issuer and achieving other minimum requirements to move from OTCID to OTCQB or other equivalent international exchange [1].
References:
[1] https://investingnews.com/north-bay-resources-advances-development-of-massive-sulphide-zone-at-fran-gold-project-british-columbia/
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