(NewsDirect)
North Bay Resources CEO Jared Lazerson joined Steve Darling from Proactive to announce the successful completion of the initial power-up and testing phase for the equipment at the Bishop Gold Mill. The tested equipment includes a jaw crusher, ball mill, shaker table, flotation tanks, as well as the associated conveyors and ancillary equipment. All components powered up successfully and are confirmed to be in excellent working order.
During the conversation, Lazerson noted that the ball mill bushings are set to be replaced soon to ensure continuous operation. Although the mill was permitted for operation starting in 2019, it has remained inactive until now, resulting in very low operational hours for the equipment which remains in nearly new condition. This includes all wiring, plumbing, and associated fixtures in the mill building and the tailings pond.
Furthermore, the company is currently in negotiations to secure feedstock for the mill. They have targeted an initial purchase of 10,000 tons of ore, grading one ounce of gold per ton, which would provide approximately three months of feedstock. This acquisition is projected to yield about 8,500 ounces of gold, assuming an 85% recovery rate, which could potentially generate $20 million in gold revenue at current market prices.
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Proactive North America
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