Elevated lithium readings found at James Bay Minerals’ Aqua in Quebec

Special Report: We’re back in Quebec with James Bay Minerals after the Aussie lithium prospector sliced into elevated lithium readings at its 100%-owned Aqua Property, a month into the company’s summer field exploration program.

In the process, James Bay Minerals (ASX:JBY) says it unearthed a pegmatite dyke about 60m long and 15m wide at its outcropping portion.

The dyke then dips underground at an angle of about 20 degrees to the east.

The elevated lithium readings were noted in a widely distributed pegmatite outcrop approximately 700m to the northeast of FIN Resources’ White Bear Discovery.

James Bay’s exploration team says the dyke runs in a north-west to south-east direction and continues further undercover in both directions, boosting the already confident exploration team’s impression that just under foot, potentially running through the entire Aqua Property, is a significant lithium-caesium-tantalum pegmatite system.

The company says it is already drawing up plans to conduct additional work, including stripping and channel sampling, to further evaluate its potential.

Patriot Games

James Bay Minerals has one of the largest tenement portfolios in the prolific James Bay minerals district, across the La Grande lithium trend that runs into the same corridor as Patriot Battery Metals’ (ASX:PMT) 109.2Mt at 1.42% Li2O Corvette and Winsome Resources’ (ASX:WR1) Adina and Cancet lithium projects.

Nestled between is JBY’s Aqua Property, which forms part of the La Grande trend’s 416km2 of globally significant, highly prospective lithium ground located right inside Canada’s immensely prolific Eeyou Istchee-James Bay district.

Using a SciAps LIBS Z-903 analyser to test the mineral outcrop, JBY’s preliminary observations found that lithium identified in the outcrop makes up about 1% of the whole rock composition. If drill assays were to come out with similar grades they’d be comparable to economic deposits in places like Brazil and WA.

Green mineral returning elevated lithium readings. Pic: JBY

More lithium than you can poke a stick at

“The team is making significant progress, particularly with the recent elevated LIBS readings that have caught our attention given their proximity to FIN Resources’ White Bear Discovery approximately 700 meters to the south-west,” executive director Andrew Dornan said.

“As we continue to map the property, our confidence grows that a substantial lithium system runs through the Aqua Property.”

The La Grande East Project was acquired in Q1 2024 because of its two magnetic lows, which are interpreted to trend into Patriot Battery Metals’ Corvette Project, multiple large white dyke-like features and the fact that the whole thing sits less than 1km from the Transtaiga Highway, allowing all year walk-up access.

This article was developed in collaboration with James Bay Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.