James Bay Minerals has reported significant high-grade gold and silver intercepts extending mineralisation well beyond current estimates at its Independence Project in Nevada, highlighting strong growth potential.
- Multiple wide intercepts exceeding 14g/t gold identified
- Mineralisation extended 370m up-dip beyond current resource estimate
- Rebel Trend reveals stacked gold lodes with grades surpassing existing MRE
- Ongoing drilling testing northern strike extensions below high-grade rock chips
- Project benefits from proximity to major Nevada mining operations and full permitting
Significant Drill Results at Independence Project
James Bay Minerals Limited (ASX – JBY) has announced compelling results from its recent drilling campaign at the Independence Project in Lander County, Nevada. The company’s latest reverse circulation drilling has intercepted multiple wide zones of gold mineralisation, including standout intervals such as 68.6 meters at 1.2 grams per tonne (g/t) gold, with higher-grade sections reaching over 14 g/t. These results extend mineralisation approximately 370 meters up-dip beyond the current Mineral Resource Estimate (MRE), underscoring the project’s robust growth potential.
The Rebel Trend, a key target area within the project, has delivered stacked gold lodes with grades notably higher than those in the existing resource. Drill hole JBRC003, for example, intersected two high-grade zones within breccia-hosted mineralisation, confirming the presence of polymetallic targets that could materially enhance the overall resource base.
Strategic Location and Geological Setting
Situated adjacent to the Nevada Gold Mine’s Phoenix Project and near the Battle Mountain mining district, the Independence Project benefits from excellent infrastructure and a supportive regulatory environment. The geology is characterised by a high-level epithermal system with gold-silver mineralisation hosted in chert and breccia formations related to Eocene granodiorite intrusions. This setting is conducive to both near-surface heap-leach extraction and deeper skarn-style mineralisation, offering multiple avenues for resource expansion.
James Bay’s Managing Director, Matthew Hayes, highlighted the significance of these findings, noting that the initial drill holes have confirmed substantial resource growth potential and that ongoing drilling is focused on testing extensions beneath high-grade surface rock chip samples. The company’s methodical approach, including rigorous sampling and quality assurance protocols, lends confidence to the robustness of these results.
Next Steps and Broader Portfolio
Drilling is continuing northward along strike to evaluate further mineralisation below surface samples that have assayed up to 16.6 g/t gold. The company plans to leverage the presence of major structural controls, such as the Rebel Fault, which intersect mineralised trends and may host additional high-grade zones.
Beyond Nevada, James Bay Minerals maintains a significant lithium exploration portfolio in Quebec, positioning the company in two critical mineral sectors. The Independence Project’s proximity to established mining operations and its fully permitted status provide a strong platform for advancing towards resource upgrades and potential development.
Bottom Line?
James Bay Minerals’ latest drilling results at Independence signal a promising new chapter for resource growth in a world-class mining jurisdiction.
Questions in the middle?
- How will upcoming drilling results impact the updated Mineral Resource Estimate?
- What are the potential timelines and hurdles for advancing the Independence Project towards production?
- Could the high-grade breccia-hosted zones at Rebel Trend shift the project’s economic outlook?