North Bay Resources, a mining company specializing in gold extraction, is preparing to initiate underground operations at the recently acquired Mt. Vernon Gold Mine in Sierra County, California. This strategic development, as announced by CEO Jared Lazerson, signifies a pivotal expansion in the company's mining endeavors. The Mt. Vernon Gold Mine, situated near Lake Tahoe, is expected to play a crucial role in North Bay's portfolio, with plans to utilize the company's existing 100-ton-per-day gold mill in Inyo County for processing ore from the new site, potentially increasing overall production.
The underground operations are slated to start next week, focusing initially on sampling and confirmatory activities. The mine boasts a tunnel extending about 150 feet, where teams will perform channel sampling on both the north and south faces. This meticulous process aims to verify and build upon the 2023 assay results, which suggested the main zone contains over one ounce of gold per ton, indicating a promising yield potential. North Bay Resources plans to conduct a mini bulk sample during the initial phase, a critical step toward future bulk mining operations, with preliminary results anticipated within weeks to inform further site development.
The acquisition of the Mt. Vernon Gold Mine is in line with North Bay's strategy to maximize milling capacity. Its location, upstream from the historically productive Ruby mine, hints at possible geological similarities that could mirror the Ruby mine's success. Historical gold production in the area supports the Mt. Vernon mine's potential, with assay results resembling those of the Ruby channel, suggesting significant untapped gold deposits. This potential underpins North Bay's positive outlook for the project.
The start of underground work at Mt. Vernon marks a significant milestone in North Bay Resources' expansion. By combining this new asset with its current infrastructure, the company seeks to boost its gold production and solidify its standing in the mining sector. The progress at the Mt. Vernon Gold Mine highlights the enduring value of gold and the continuous search for new or underutilized deposits, contributing to supply and economic growth amid sustained global demand for precious metals.
