North Bay Resources, Inc. (OTC:NBRI) announced that it has successfully completed the initial powerup and testing of the mill equipment at its Bishop Gold Mill, located in Inyo County, California.
Last month, North Bay Resources announced it had entered into a share purchase agreement to acquire a 55.5% stake in the Bishop Gold Mill, which the company plans to operate in the near to medium term.
The mill features a flotation circuit designed to process up to 96 tons of material per day or 3,000 tons per month.
In an April 23 update, the company said the equipment tested at the Bishop Gold Mill included the jaw crusher, ball mill, shaker table, flotation tanks and related conveyors and ancillary equipment. The bushings on the ball mill will be replaced shortly to ensure continuous operation.
North Bay Resources highlighted that, although the mill has been permitted since 2019, it has not been operated and the equipment has very low hours and remains in “as new” working conditions.
This includes wiring, plumbing and associated fixtures including the mill building and tailings pond, it said.
Additionally, the company said it is in talks for feedstock with the mill.
It said it is targeting the initial acquisition of 10,000 tons grading one ounce per ton.
Approximately three months of feedstock for the mill, this is equal to 8,500 ounces at a projected recovery rate of 85% or $20 million at the current spot gold price of $2,350 per ounce, North Bay Resources said.