North Bay Acquires Argo Gold Property
North Bay Resources Inc. announce that it has acquired the Argo Gold Property in southwestern British Columbia, Canada.
The Argo Gold Property is located 10 kilometres west of the south end of Tatlayako Lake, approximately 168 miles northwest of Vancouver. It covers 1,292 acres, and includes ten reverted crown grants. The mineralized area of economic interest covers several square kilometres immediately south of Ottarasko Creek. The strike length is estimated as being at least 3 kilometres long, and is up to 300 metres in width. The target prospects are known as the Langara, the Standard, and the Argo.
On the Langara prospect, government records contained in MINFILE 092N 036 show that the typical average assay of chip samples taken across the widths of veins and adit zones is 6 grams per tonne gold and 70 grams per tonne silver. BC Assessment Report 16959 also documents that one quartz vein grab sample assayed 26.75 grams per tonne gold and 39.5 grams per tonne silver. Another grab sample documented in the same report assayed 2.52 percent copper, 3.13 percent zinc and 0.33 percent lead, although high values of these base metals are reported to be very sporadic.
On the Standard prospect, the mineralization is described in government records as “massive,” with assays of up to 19.2 grams per tonne gold and 20.6 grams per tonne silver (MINFILE 092N 037).
Typical samples from the namesake Argo prospect averaged 8 grams per tonne gold, 34 grams per tonne silver, and up to 0.43 percent copper (MINFILE 092N 038; Assessment Reports 16959, 17980).
The Argo Gold Property was located, staked, and acquired independently by company personnel utilizing MTO and GPS technology.