North Bay Resources, a mineral developer with some 60k mineral and placer claim acres throughout British Columbia, recently announced having come to terms on an exclusive option to lease/acquire the Taber Gold Mine (currently estimated to contain a mineable 86,667 oz Au resource), thus expanding their US footprint with additional acreage in Sierra County, CA.
Just over the Nevada border, inside California’s legendary Sierra-Nevada mountain range, roughly 90 miles west of Reno, NV and some 100 miles north of Sacramento, the Taber Mine sits on the western slope of the Sierra-Nevada Mountains on an extension of the historic Mother Lode/Melones fault zone. Classic underground placer mine profile spanning some 650 acres of unpatented claims, with multiple channels running across the property and extensive, undeveloped potential.
The close proximity to the Melones Fault, along which the big deposits of the Mother Lode are found and a series of three channels running parallel, as well as downstream from the fault, offer a solid picture of the geological/mineral potential of the site. Two of the channels, the Front and the Back channels, are remnants of the Yuba River’s tertiary northern fork. The Front channel was largely cut and surface mined in the 1800’s via massive hydraulics, with the Back channel being discovered and somewhat developed around the turn of the century via the adjacent underground mining operations, Union and Bellevue.
With the Back channel essentially un-mined for some 4k feet within the Taber property and a third channel coming in from the north, there is tantalizing potential that gold nuggets like those pulled out of the Ruby Mine back in the 1800’s (now on display at the Los Angeles County Museum of Natural History) may exist in the undeveloped placer.
Extensive reverse-circulation explorative drilling was conducted on the northern channel, with the reopening of the Bellevue Mine property to the west of the Taber back in the 1990’s, as Sunshine Mining Company engaged the area. But as metal prices fell and Sunshine encountered internal difficulties, the exploration program was terminated, despite having found quartz gravels and gold in the drill holes and having sunk a raise near the channel workings.
Onsite milling facilities with a 100 tons/day capacity could output upwards of 1k oz Au per month at an average historical grade of 0.45 opt and full permitting is already secured. All that is required at this point to go into production is to renew existing permitting and rehab the Taber tunnel to the extant progress point.
For more information on North Bay Resources Inc. and its ongoing campaign to secure additional productive mineral acreage, please visit the Company’s website at www.NorthBayResources.com
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment