North Bay Resources Inc. (OTC:NBRI) Stock Gains Momentum: But Why?
There were a number of companies that had come into the news cycle on Wednesday, and one of the more notable ones was North Bay Resources Inc. (OTC:NBRI). The company was in focus yesterday after it announced that the exploration planning and data compilation work were on the verge of completion for Murex Copper Project, its fully owned subsidiary unit. It was also revealed that the mobilization for the exploration work had also started.
The initial stages of exploration would involve the identification of locations, updating trail and road maps, and the identification of landmarks through state-of-the art mapping technologies at Murex Breccia. The process would also involve the identification of drill collar locations and previous surface sampling at the location. Geological mapping and geochemical sampling would begin at the site at some point in April this year and continue through the rest of the summer. It was also revealed in the news release that North Bay Resources aimed to delineate the mineralized zones further and work on the process of making the project compliant with modern standards of exploration.
The company noted that the historical exploration work done in the 1970s at the site by Standard Oil and later on by Glencore in the 1980s had provided a considerable pool of information and data. At this point, the project is regarded as a transitional deposit that boasts considerable deposits of copper and gold in multiple zones.
The Murex Breccia zones at the property are situated in the central part of the project. On Wednesday, North Bay Resources also announced that exploration work at its 100%-owned Tulameen Platinum Project would begin at some point in the latter half of April 2024. The property also boasts significant magnesium deposits, as the company noted in the news release. It could be a good time to add the stock to your watch lists.
