James Bay Minerals Uncovers New Gold-Silver Zones at Independence Project
James Bay Minerals has reported promising drilling results at its Independence Project in Nevada, extending gold-silver mineralisation beyond the current resource estimate at South Hill and initiating new drilling at Rebel Peak targeting high-grade zones.
- Significant gold-silver intercepts extending beyond Near-Surface Mineral Resource Estimate at South Hill
- Drilling confirms mineralisation continuity along strike and down dip
- First drilling underway at Rebel Peak targeting high-grade mineralisation up to 16.6 g/t Au
- Project located adjacent to major Nevada gold mines with supportive infrastructure
- Plans for further drilling to test extensions and advance heap-leach development pathway
Exploration Success at South Hill
James Bay Minerals Limited (ASX, JBY) has announced encouraging results from recent reverse circulation (RC) drilling at the Independence Project in Nevada, specifically at the South Hill prospect. The drilling has successfully extended gold-silver mineralisation beyond the boundaries of the current Near-Surface Mineral Resource Estimate (MRE), highlighting the potential for resource growth. Notable intercepts include 25.9 metres at 0.6 grams per tonne gold equivalent (AuEq) from 161.5 metres depth, with higher-grade zones within this interval.
These results build on historic intercepts, such as a 39.6-metre interval grading 2.1 g/t AuEq, confirming that mineralisation remains open down dip and along strike. The continuity of mineralised zones across the 520-metre strike length at South Hill underscores the prospect’s significance as a priority target for further exploration.
New Drilling at Rebel Peak Targets High-Grade Zones
In addition to South Hill, James Bay Minerals has commenced its first drilling campaign at Rebel Peak, a newly accessible area following completion of road construction. This site features high-grade rock chip samples up to 16.6 g/t gold, situated outside the current MRE. The company aims to rapidly add ounces by targeting extensions well beyond existing resource boundaries, focusing on epithermal mineralisation associated with major fault structures and intrusions.
The Rebel Peak target is particularly compelling due to its structural setting, where fault intersections appear to concentrate higher-grade mineralisation. The company’s strategy includes testing these zones for near-surface mineralisation amenable to heap-leach processing, a cost-effective extraction method widely used in Nevada’s epithermal gold deposits.
Strategic Location and Development Pathway
The Independence Project is strategically located in Lander County, Nevada, adjacent to the Nevada Gold Mine’s Phoenix Project and within a well-established mining district. Nevada’s reputation as a top-tier mining jurisdiction with robust infrastructure, skilled workforce, and pro-mining policies enhances the project’s attractiveness.
James Bay Minerals holds a JORC-compliant Mineral Resource Estimate for the project, including both near-surface oxide and deeper skarn mineralisation. The company is advancing a low-strip ratio, heap-leach development pathway, leveraging the oxide gold mineralisation’s amenability to this processing technique. The ongoing drilling results support the potential to expand the resource base and improve project economics amid a favourable gold price environment.
Broader Asset Portfolio and Future Outlook
Beyond Nevada, James Bay Minerals is progressing its Shafter Silver Project in Texas, which hosts a significant foreign mineral resource estimate for silver, and maintains a large lithium exploration portfolio in Quebec. These diversified assets position the company to capitalize on multiple commodity markets.
Looking ahead, James Bay Minerals plans to continue drilling at South Hill to test for additional mineralised lodes below the current resource and to expand exploration at Rebel Peak. The company’s methodical approach to exploration, combined with rigorous sampling and quality control protocols, underpins confidence in the reported results and resource potential.
Bottom Line?
James Bay Minerals’ latest drilling success at Independence signals a promising resource expansion phase, with upcoming results poised to shape its development trajectory.
Questions in the middle?
- How will further drilling at South Hill and Rebel Peak impact the overall resource estimate and project valuation?
- What metallurgical test results will confirm the viability of heap-leach processing for the newly identified mineralisation?
- How might permitting and infrastructure developments influence the timeline for advancing the Independence Project to production?
