North Bay Resources Inc. (OTC:NBRI) has announced the final acceptance and settlement of the company’s second and third gold concentrate test shipments from its Fran Gold Project in British Columbia, which were processed at its Bishop Gold Mill.
In April 2025, gold concentrate shipments totaling 667 wet pounds were delivered to Just Refiners in Reno, Nevada, the company’s refinery partner.
The second and third shipments involved processing approximately 8 and 4 gross tons, respectively, with average recovered grades of 0.08 and 0.11 ounces per ton. These grades equated to per ton values of $260 and $360.
North Bay Resources noted that the lower value per ton observed in the second shipment was due to a breakdown in the raker/classifier, resulting in a heavy and inconsistent grind size.
In response, upgrades and repairs were carried out throughout April, including the removal and hot welding of the attenuator and the fabrication and installation of a new control arm.
These enhancements improved material consistency and reduced feed size to the centrifuge, leading to a significant improvement in gold recovery per ton in the third shipment, the company said. Recovery levels in the third shipment were within 10% of those in the first.
North Bay added that it is optimizing grind size and targeting a 30% total dissolved solids level to improve gold recovery, with recent drying circuit upgrades reducing moisture content by 60%.
The company is preparing to scale up to 100 tons per week, aiming for full commercial production at 100 tons per day.
A finalized flotation circuit design includes a new mixing tank to improve gold recovery, with metallurgical testing indicating strong potential for increased fine gold recovery.
Advancing Fran Gold
North Bay also announced that mobilization for development at the Fran Gold Project is underway, with crews scheduled to arrive on-site in early June.
Activities will focus on exploration, preparation for ore shipments from existing stockpiles, and implementation of grade control to maximize ore value and ensure continuous throughput at the Bishop Gold Mill.
Once stockpiles are exhausted, mining efforts will shift to surface trenches A, B, and C, with Trenches B and C demonstrating consistent gold grades of 0.5 ounces per ton over 30 meters.
The company said that following the recent discovery of a bulk tonnage deposit and associated resource estimate, it is pursuing a dual approach at Fran Gold of processing stockpiles and surface oxide zones while also initiating exploration in key areas between the Main Bullion Alley Zone and East Zone, as well as to the northeast.
Soil grid re-analysis has revealed gold and copper anomalies trending northeast, supported by geological features consistent with porphyry-style deposits.
With a gold price of $3,100 per ounce, the Main Zone's gross value is estimated at $50 per tonne, compared to the nearby Blackwater Mine's $9 per tonne processing cost, according to the company.
As a result of this, North Bay said it is proceeding with the development of the bulk tonnage deposit and has begun consultations with mine engineering firms to assess project economics and mine planning.