SKIPPACK, PA — North Bay Resources Inc. (OTC: NBRI) is swiftly moving forward with data compilation and exploration planning for its Murex Copper Project. The company recently commenced mobilization for exploration that is due to update road and trail maps and identify locations and landmarks using modern mapping techniques. This includes identifying previous surface sampling and drill collar locations at the Murex Breccia. The company aims to begin geochemical sampling, geophysics, and geological mapping this April and prolong it throughout the summer.
The company’s primary objective for the initial exploration is to further identify the mineralized zones and start the process of aligning the project with modern exploration standards.
As a course of historical exploration, North Bay has inherited a vast database of detailed information from Standard Oil’s exploration efforts in the 1970s and Noranda’s (Glencore) in the 1980s. The company’s Murex project is perceived as a transitional deposit with significant copper-gold deposits across varied geological types and zones, including high-grade vein type copper and low-grade, mass tonnage copper. Existing data shows significant gold and copper assays over large areas, separate from gold assays in the Northwest of the property where samples up to 60g/t gold were discovered in fall 2023.
According to historical records, the Murex breccia zones are located centrally in the property and are interpreted as a collapsed volcanic dome structure with shallow-dipping thrust faults intersected by steeply dipping faults associated with polymetallic bearing sulphide mineralization. Historic work identified a 700m X 700m area, the D Zone, along with the A Zone and E Zone, two breccia zones within a 1,200m X 3,000m area.
The company’s 100% owned Tulameen Platinum Project is also set for exploration commencement in the second half of April 2024. The property contains a sizable magnesium deposit in the form of olivine and brucite, and a large project that utilizes magnesium compounds for carbon sequestration is currently underway in Iceland. Utilizing olivine for carbon sequestration could make it one of the best natural carbon sinks due to its potential to bond with up to one-third of a tonne of CO2.
On the corporate front, the company announced that its President and former CEO, Perry Leopold, has passed away. The company is deeply appreciative of his years of dedicated service. The current CEO, Jared Lazerson, has entered into an agreement to acquire specific Preferred Shares that could result in a change of control.
The commencement of data compilation and exploration planning for the Murex Copper Project marks the first step in a series of activities that North Bay Resources Inc. has outlined for 2024. The information mined from these efforts is expected to add significant value to the project and provide gratifying returns to its stakeholders. In parallel, the company will continue to focus on exploration for platinum group metals, in addition to copper, nickel, and cobalt in and around the large olivine (Mg) deposit.
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