Skippack, PA, Nov. 04, 2021 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (OTC: NBRI) (“North Bay” or the “Company”) is pleased to announce that lab results from recent fieldwork at the Company’s 100% owned Tulameen Platinum Project in southeastern British Columbia confirms prior assessments. Assay results from ALS Labs in Vancouver show average magnesium yields of 26.45%, which is entirely consistent with previous reports. As well, assays as high as 0.19 grams per tonne platinum, 0.15% nickel, 0.31% chromium, 0.014% cobalt, and 0.16% manganese were also reported.
During the recent fieldwork our geological team has also successfully identified and mapped a suitable location to extract a 10,000 tonne bulk sample as part of a mining permit application the Company intends to prepare and file in the near future.
We note that magnesium demand continues to be high. With the increased demand magnesium prices continue to rise, and have recently exceeded $5,000 US per tonne.
As previously announced, the Company is participating in a collaborative research project with the Environmental Economic Geology Laboratory (EEGL) at the University of Alberta's Department of Earth and Atmospheric Sciences to assess, among other things, the mineral carbonation potential of our Tulameen olivine to sequester CO2. Samples of our Tulameen olivine have been sent to EEGL for precision analysis and evaluation of the olivine’s carbon reactivity. We expect to use the analytical results as part of proof-of-concept submissions to participate in the rapidly expanding carbon removal credit market.
A full geological assessment report to document our recent fieldwork will be filed as soon as data compilation is complete,
About North Bay Resources Inc.
North Bay Resources Inc. (OTC: NBRI) is a junior mining company with current operations in British Columbia, Canada. The Company holds 100% ownership of several significant mining properties, including the advanced-stage Mt. Washington project on Vancouver Island, and the Tulameen Platinum Project near Princeton, BC.
About EEGL
EEGL is a group of Earth scientists based at the University of Alberta in Edmonton, Canada, with expertise in mineralogy, crystallography, aqueous geochemistry and geomicrobiology. A critical aspect to EEGL's applied research is the study of natural processes that trap CO2 in rocks and soils, and that concentrate critical metals in minerals.
SAFE HARBOR FOR FORWARD LOOKING STATEMENTS
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although North Bay Resources Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by North Bay Resources Inc. or any other person that the objective and plans of North Bay Resources Inc. will be achieved.
Contact:
Perry Leopold, CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com
