North Bay Resources Inc. announced that it has acquired the Coronation Property near Memphis Creek, 6 kilometres northeast of Slocan in southeastern British Columbia.
The property covers 103 acres over several reverted crown grants and includes three past-producing mines; the Colorado, the V&M, and the Senator mines, in addition to the Coronation. Primary mineralization is gold, silver, zinc, and lead. The highest combined historical (post-production) assays are 16.8 g/t gold, 6000 g/t silver, 10.9% zinc, and 1.2% lead.
According to BC Assessment Report 18603, the Coronation was reported to have past-production of as much as 13,000 grams per tonne silver and 20% lead. A more recent sample of tetrahedrite-bearing ore from the portal assayed 2.1 grams per tonne gold and 6000 grams per tonne silver, and a sample from the Coronation dump assayed 0.4 gram per tonne gold, 2414 grams per tonne silver, 1.2 per cent lead and 10.9 per cent zinc. The same report documents samples from the Senator adit that assayed 6.1 grams per tonne gold and 1080 grams per tonne silver over 0.3 metres on a quartz-pyrite vein, and 16.8 grams per tonne gold and 549 grams per tonne silver over 0.5 metres on a quartz-pyrite vein from the V&M mine adit.
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