North Bay Resources Inc (OTC:NBRI) Stock Surges 25%: What’s The Buzz?

There were a number of stocks that moved strongly on Monday, and one of those was the North Bay Resources Inc. (OTC:NBRI), which ended up with gains of 29% amidst strong interest. The rally was triggered by an announcement from the company yesterday.

Key Breakthrough

North Bay Resources announced yesterday that it had been granted all the requisite approvals by the Department of Labor, Mining Safety, and Health Administration for the Western District so as to begin fully fledged production at its Mt. Vernon Gold Mine. The mine in question is located in Sierra County, California.

Important Details

The company also revealed the specific notices that it received from the above-mentioned authority. The three notices were for alternative mine rescue capability, escape and evacuation plans, and ventilation plans.

In the first phase, the mining would consist of blasting, sorting, loading, and then shipping 500 tons from the deposit. The heart of the deposit has demonstrated consistent gold grades in excess of 1 ounce per ton and going up to 5 ounces per ton.

The company also stated in the news release that the mining engineers at Respec had completed the mine plan as well, and the plan would be focused on the highest grade zone in the initial stages. It could be a good time for investors to consider adding the North Bay Resources stock to their watch lists.