North Bay Resources Inc. (OTC:NBRI) Stock Surges 40%: A Major Update

On Thursday, North Bay Resources Inc. (OTC:NBRI) emerged as one of the notable movers as its stock ended up clocking gains of 41% following some significant developments.

CMC Announces that North Bay Resources has significantly advanced its planned operations at Bishop Gold Mill, Inyo County, California.

Yesterday, CMC Metals Ltd. announced that the day before North Bay Resources had made an announcement, it had advanced its operational plans at the Bishop Gold Mill located in Inyo County, California. North Bay Resources had revealed that the first gold ore shipment was received from the Fran Gold Project and the test milling operations had commenced. The company was going to begin the testing and optimization of milling immediately for extraction of the gold from the ore.

The initial shipment had been for 22 tons of surface material. However, the real recoveries and grades would be figured out after the tests are completed. The company’s environmental engineering firm had also provided a tailings pond inspection report and concluded that there was no degradation or other problems at the tailings pond liner deployed in the Waste Management Unit at the Bishop Gold Mill.

The company’s process and civil engineering vendor was also engaged in finishing a de-watering plan in addition to a waste management and closure plan. The company also revealed that it submitted the necessary Federal Mining Authority operating plan and operations would begin next month.

CEO Comment

Kevin Brewer, President and CEO of CMC Metals Ltd., noted: “We sincerely congratulate NBRI and its President, Jared Lazerson, for the rapid progress they have made in advancing the development of its Fran Gold Project, the Mt. Vernon Gold Mine, its recent ore shipment to Bishop, and the preparations of the Bishop Mill facility to the stage where test processing can now commence. This is a significant milestone in that project. We are very pleased to be a significant shareholder of NBRI, and we will continue to work closely with NBRI to make this project a success and generate value for our shareholders.”