
North Bay Resources' Fran gold project yields strong assay results
06/08/2025
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North Bay Resources Inc CEO Jared Lazerson talked with Proactive's Stephen Gunnion about the company’s progress at its Fran project, including high-grade assay results and operational plans for its Bishop Gold Mill.
Lazerson confirmed that North Bay has completed its initial test mining and is seeing encouraging assay results from the surface oxide zone at Fran. “There have been up to multi-ounce assays,” he said, noting that the mineralization appears to expand in several directions and increases with depth.
The ore is described as highly mineralized and visibly distinct, with chalcopyrite, galena, and silver present. Lazerson highlighted that operations are already producing results: “Our mill is up and running. We've produced some gold there.”
He outlined plans to ship ore to the mill imminently, targeting an initial throughput of 66 tonnes per week, with potential gross revenues of around $75,000 weekly. Costs are currently about $400 per tonne, giving an estimated $600 profit per tonne after refining.
Longer term, the company is targeting a 10,000-tonne test permit and evaluating the path toward a large-scale operation. Lazerson said the broader resource could support a 1 million to 2 million tonne processing capacity. The aim is to become a mid-tier producer, with the potential to generate between $50 million and $100 million, depending on gold prices and comparable mine costs.
The company is pursuing a dual-path strategy—short-term cash flow from high-grade ore while advancing toward large-scale development. Lazerson emphasized this approach helps avoid “endless dilution,” a risk many early-stage explorers face.
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