Ruby Gold, Inc. ("RGI", or the "Company"), a wholly-owned subsidiary of North Bay Resources Inc. ("North Bay"), is pleased to announce that it has engaged Taurus Drilling LLC ("Taurus") of Lake Havasu City, Arizona, to complete the drilling of nearby mining targets at the Ruby Mine in Sierra County, California. Taurus is scheduled to commence drilling on June 9, 2014.
As previously announced in a North Bay press release dated March 27, 2014, seven new exploration drilling targets have initially been identified from geological mapping and a recently completed gravity survey. The following targets are all accessible with drill holes from the Ruby Adit and 109 Crosscut, and include four suspected paleochannels and three terraces associated with known channels which can be viewed at http://www.northbayresources.com/ruby/DrillingTargets.jpg:
- Daylight Channel. This target is estimated to be 40 feet above the Ruby Adit and could be rich if white (quartz) gravels are encountered.
- Raise Channel. This occurrence is also very close to the Ruby Portal.
- Bald Mountain Channel Terrace Gravels. This target is over 100 feet above the Ruby Adit and is considered very important. These were the first very rich gravels mined when the Ruby Mine was first opened, and were reported as containing visible gold. Even a relatively small area of unmined gravel could be valuable, and discovery of unmined gravel above the Daylight Turn would prove that the high terrace gravels may extend for many hundreds of feet along the west side of the Bald Mountain Channel to the north of the adit.
- Deep Channel Terrace Gravels. This target is a short distance from the previous target and is believed to be only 20 to 30 feet above the adit level. The gravels are expected to be volcanic mixed with quartz. The workings in the Deep Channel are very substantial, indicating the gravels contained significant concentrations of gold over a wide area. Their close proximity to the Ruby Adit makes them a logical target.
- Cincinnati Channel. This is an intervolcanic channel believed to cross the Ruby Adit, based on surface workings and recent gravity survey profiles. The width of the channel and its depth will be determining factors if a raise is to be put in to test the material.
- New Black Channel. This area contains the most obvious evidence of a new overlying channel: water and iron stalactites. Secondary evidence is the reported cut-off of the Black Channel at a location that would be downstream. Based on the extent of the rock in the back of the tunnel that is wet, this channel may be several hundred feet wide and require many additional holes to fully characterize.
- Black Channel Terrace Gravels. These targets are speculative. If gravels are encountered, the true extent of the deposits will be difficult to determine without raising up to them for bulk sampling (similar to the Bald Mountain and Deep Channel Terrace targets). It is important to note that the Ruby Adit is an ideal haulage tunnel, providing the infrastructure to access and mine overlying gravels relatively efficiently.
These new targets will be evaluated with drill holes at specific underground locations in the Ruby Adit. Cuttings will be collected continuously during drilling, and if gravels are encountered, closely examined for gold. The goal of the program is to discover a channel or terrace that contains gold-bearing gravel and to then raise up to the channel for bulk sampling. The close proximity of these targets above the Ruby Adit makes them all compelling targets for near-term production, as any one of these targets that proves out can be placed into production relatively quickly.
Mr. C. Gary Clifton, P.Geo., is the Company's independent consulting geologist for the Ruby Gold Project. Mr. Clifton is a Qualified Person as defined by National Instrument 43-101, and has reviewed the information presented above for technical accuracy.