North Bay Resources Confirms Nickel-Cobalt Deposit at Tulameen Platinum Project
Vancouver, Canada
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May 29, 2024 01:51 PM Eastern Daylight Time
North Bay Resources CEO Jared Lazerson joined Steve Darling from Proactive to announce the latest exploration results from the Tulameen Platinum Project in British Columbia. The company has received assays from recent exploration efforts, revealing significant findings. Nine rock samples were analyzed using Aqua Regia - ICP whole rock analyses, confirming a magnesium-hosted nickel-cobalt deposit with additional copper and platinum group metals.
Lazerson elaborated that the Tulameen property is known for hosting a large magnesium deposit, primarily consisting of olivine within a dunite core. Dunite is a common host rock and indicator for nickel, as well as other valuable metals and gems. Historical exploration by Diamet in the 1980s estimated the presence of 15,000,000 tons of dunite in a single zone, mainly in the form of olivine. Moreover, four additional zones have been identified on the property, indicating a substantial mineralization potential.
These findings mark a significant milestone for North Bay Resources as they confirm the presence of a multi-metal deposit, which includes valuable nickel and cobalt resources. The confirmation of platinum group metals adds further value to the project, highlighting its potential as a significant source of critical minerals.
Lazerson emphasized that the positive assay results support the company's strategic focus on advancing the Tulameen Platinum Project. The presence of high-value minerals such as nickel, cobalt, and platinum group metals aligns with global demand for these resources, driven by their critical role in battery technology, electric vehicles, and various industrial applications.
The company plans to build on these findings by conducting further exploration and development activities. This will include detailed geological mapping, additional sampling, and possibly drilling to better delineate the extent of the mineralization and to define a resource estimate. The historical data combined with the recent assay results provide a robust foundation for future work.
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Proactive North America
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