Receive our newsletter – data, insights and analysis delivered to you
  1. Market Data
October 19, 2011

North Bay to form JV to develop Canadian platinum project

North Bay Resources has signed a memorandum of understanding (MoU) with Devlin's Bench Mining and P. Wright Contracting (PWC) to enter into a joint venture (JV) in order to develop the Fraser River platinum project.

North Bay Resources has signed a memorandum of understanding (MoU) with Devlin’s Bench Mining and P. Wright Contracting (PWC) to enter into a joint venture (JV) in order to develop the Fraser River platinum project.

The Fraser River covers about 4.5km of placer claims along the Fraser River and is located near Lytton in south-central British Columbia, Canada.

The project consists of the Van Winkle Bar, which has received assays results of 5,681g/t platinum from black sand concentrate.

Exploration work conducted in 2009 resulted in average assays of 520g/t gold, 5.38g/t platinum, and 0.04/t palladium from black sand concentrate.

North Bay and PWC are planning to resume development work and apply for the appropriate mining permits. Production will begin as soon as the permits are approved.

 

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU