• James Bay Minerals lists on the ASX today after oversubscribed $6m IPO
  • With 224km2 of tenure it holds one of the largest exploration portfolios in James Bay
  • The board is stacked with Pilbara Minerals, Nemaska and Primero alumni with years of experience building lithium projects in Australia and Canada


James Bay Minerals has successfully debuted on the ASX today, bringing with it one of the largest exploration portfolios in Canada’s prolific James Bay lithium district.

Totalling ~224km2, James Bay Minerals’ (ASX:JBY) Joule, Aero and Aqua properties are located in the ‘La Grande’ sub-province, along trend from the Corvette deposit, where Patriot Battery Metals (ASX:PMT) has an inferred MRE of 109.2Mt @ 1.42% Li2O and 160ppm Ta2O5.

The Troilus project is further to the south, only 5km north of Sayona Mining’s (ASX:SYA) Moblan lithium project and near Winsome Resources’ (ASX:WR1) Sirmac-Clappier project.

The company is backed by a wealth of lithium mining experience.

Exec director Andrew Dornan has 18yrs of senior commercial management experience with heavy hitters like Pilbara Minerals, Tianqi Lithium, Fortescue, and Rio Tinto.

Ontario-based non exec chair Gerard O’Donovan – also managing director of Battery Age Minerals – was project manager at Pilbara Minerals, overseeing development of the Stage 1 Pilgangoora mine and concentrator.

Also on the board is former Nemaska director Judy Baker and Dean Ercegovic, founding director and CEO of lithium plant builder Primero Group.


Dawn of a new era

Following the listing, Dornan told Stockhead that he sees James Bay as “the next frontier of lithium”.

“Recent activity within the region — covering significant discoveries, resource announcements and corporate activity — solidifies our decision on becoming a James Bay lithium focused explorer,” he explained.

“The global transition to clean energy is here to stay, and we believe we are at the beginning of a time that hasn’t been seen since the industrial revolution.”



JBY’s flagship prospect is Joule, encompassing a ~24km long prospective deformation zone along a regional fault that has had minimal historical exploration. The eastern segment of the deformation zone extends for 14km and fan tails to reach widths of up to 1.5km.

The Aero prospect contains ~12km of deformation zones  — similar to those at WR1’s nearby Cancet and PMT’s Corvette — considered highly-prospective for LCT pegmatites.

All properties display the key ingredients required to host massive lithium-caesium-tantalum (LCT) pegmatites, JBY says.


James Bay Minerals
James Bay Minerals’ tenement package and surrounding major projects. Pic supplied: (JBY)


James Bay Minerals exec director Andrew Dornan says the team are absolutely delighted by the strong response from investors to the IPO, which saw the explorer achieve the $6m maximum subscription well ahead of schedule.

“This strong interest from investors reflects the exceptional outlook for the lithium market and the outstanding credentials of the James Bay region as a lithium exploration hotspot,” Dornan says.

“As fellow shareholders, the James Bay team are incredibly excited by the company’s extensive high-quality portfolio of properties, which are located in close proximity to major recent discoveries and exhibit all the key geological ingredients required to host major spodumene discoveries.

“We are very much looking forward to unlocking the potential of our portfolio with focused, systematic and aggressive exploration programs that are planned to commence in the coming weeks.

“Recent major news emanating from the James Bay district vindicates our strategy to focus on the James Bay area as the next major global frontier for hard rock lithium discoveries of scale.”


Planned activities

JBY says it intends to commence exploration across its La Grande lithium projects in the coming weeks, including LiDAR surveys and aerial imagery, field mapping, geochemical and geophysical surveys and rock chip and channel sampling.



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.