North Bay Resources Inc. (NBRI.PK) Signs LOI for Coronation Gold-Silver Property Joint Venture
North Bay Resources Inc. announced today that it has signed a Letter of Intent ("LOI") with Drake Gold Resources Inc. ("Drake") to formalize a joint venture agreement for the exploration of North Bay's recently announced Coronation Property near Slocan in southeastern British Columbia. The Coronation 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. According to BC MINFILE 082FNW162 and Assessment Report 18603, the Coronation Property was reported to have past-production of as much…