North Bay Resources Inc. (OTC:NBRI) CEO Jared Lazerson talked with Proactive about the company's new 50/50 joint venture focused on a historic silver property in Lander County, Nevada.
The venture centers on the X-Ray Mine, an asset known for its exceptionally high historical grades, with reports of shipments exceeding 1000oz per ton as far back as 1918.
Lazerson explained that while Nevada is widely recognized for its silver production, this specific area near Austin is relatively underexplored in modern terms.
He noted, “There was no modern or really cohesive exploration done in the area beyond basically outcrops on surface and then following those veins.”
The company’s initial plans include assessing the X-Ray Mine’s infrastructure, evaluating outcrops, and conducting drone-based geophysics. In addition, there are sizeable stockpiles on-site, including one estimated at 100,000 tons.
Depending on results, North Bay may begin shipping material to its facility in Bishop, California.
The CEO added that many of the historic mines in the area were halted not due to resource depletion but economic factors, such as a collapse in silver prices in the 1890s.
“Anything below 100oz per ton was considered low grade at that time,” he said.