James Bay uncovers further proof of from-surface gold at Independence

Rock chip sampling returns gold assays over a 1.2km strike at James Bay Minerals’ Independence project
Drilling of five RC and one diamond hole completed with assays due this quarter
Larger Phase 2 drill program targeting extensions of oxide mineralisation to start later in Q1, 2025

Special Report: James Bay Minerals is progressing exploration at its Independence gold project in Lander County, Nevada, with six holes completed and rock chips returning gold assays over a 1.2km strike.

All samples from the recently completed Phase 1 drill program of five reverse circulation holes and one diamond hole, which targeted extensions of the current non-JORC resource, are now at the laboratory pending gold and multi-element analysis with results expected in Q1, 2025.

Meanwhile, the systematic rock chip sampling program has indicated that from-surface ore-grade gold mineralisation spans the project with 77 samples returning assays above 1g/t gold and a peak result of 31.7g/t.

This includes further evidence of from-surface oxide gold mineralisation at the untested North Hill and Sunshine South areas.

James Bay Minerals (ASX:JBY) is looking to continue this exploration momentum with executive director Andrew Dornan saying the company will launch a larger Phase 2 drill program in the current quarter.

“Q1 drilling will target extensions of the oxide mineralisation in the northern half of the project and at the untested Rebel Peak prospect, where rock chip samples have returned exceptional high-grade gold results,” he added.

“We also look forward to receiving assay results from the Phase 1 drilling soon.”

Rock chips results at Independence. Pic: James Bay Minerals

Independence gold project

JBY executed a definitive terms sheet to acquire the advanced project, which hosts a non-JORC NI43-101 resource of 1.18Moz gold and 7.6Moz silver, in October 2024.

The 627-acre project has expansion potential and is just 16km south of Battle Mountain, a fully serviced mining town.

It also includes 470 acres of private fee surface land in the Battle Mountain mining district where the company holds exclusive water rights.

Next steps

Logging and sampling of available historical drill core is currently underway for gold and multi-element analysis.

Once completed, this work will enable JBY to plan future diamond drill campaigns targeting polymetallic mineralisation within the Pumpernickel Formation as well as deeper gold-silver skarn mineralisation within the Battle Formation.

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.