North Bay Resources Inc. Acquires Fawn Gold-Silver Propertyadmin
North Bay Resources Inc., a junior mining company with over 140 mineral and placer claims encompassing approximately 50,000 acres throughout British Columbia, Canada announce that it has acquired a 100% interest in the Fawn gold-silver property in central British Columbia, Canada.
The Fawn property is situated on the Nechako Plateau of central British Columbia, approximately 120 kilometres southwest of Vanderhoof and 180 kilometres west of Quesnel. The property covers 1,005 acres, and includes the Buck claims 6 kilometres to the east.
On the namesake Fawn claim (MINFILE 093F 043), four subparallel, easterly-trending VLF-EM conductors have been defined along strike lengths of 700 to 2200 metres, with each remaining open along strike in at least one direction. Each of the four VLF conductors is accompanied by silver-zinc-lead-arsenic soil geochemistry. The key area of interest is known as the Giver Zone, where assays up to 12.9 grams (0.42 ounces) per tonne gold and 637 grams (20.48 ounces) per tonne silver have been documented.
Immediately east of the Fawn and included as part of the property, the Buck claims (MINFILE 093F 050) cover a 3,000 metre long zinc-arsenic-lead soil geochemical anomaly overlying Naglico Formation rocks, and referred to as the Rutt Zone. Stratabound sphalerite-pyrrhotite mineralization, grading up to 4.69% zinc, is present in felsic ash tuffs. A primary area of interest immediately south of the Rutt Zone is known as the Christmas Cake showing, where a 45 centimetre chip sample has assayed 542 grams (17.42 ounces) per tonne silver, 7.38% zinc, and 2.25% lead.
The most recent property assessment on the Fawn was completed in September 2008, and is documented in Assessment Report 30197 on file with the Ministry of Mines in British Columbia. To quote from the report’s introduction, “The Fawn property is an epithermal Au-Ag prospect located within a cluster of significant, epithermal Au-Ag occurrences in the southern Nechako Plateau of central British Columbia. These occurrences are structurally controlled and commonly associated with regional lineaments. Several of these regional structures cross the Fawn property and are related to numerous showings in the area. Up to 1997, several exploration programs consisting of geological, geochemical and geophysical surveys and diamond drilling were conducted, focused primarily in the north part of the property. This work led to the discovery of the Giver Zone, a well mineralized, structurally controlled epithermal gold-silver showing with drill results up to 2.0 g/t Au over 8.10 metres. Despite exploration success on the Giver Zone, and significant indications of mineralization elsewhere, much of the property remains relatively unexplored. The property is crossed by a major forest service road and recent logging has increased access to all areas of the property. The property represents a low cost exploration bet with good potential.”