Uranium, REE join the target list at James Bay Minerals’ flagship Joule property

High resolution surveys outline significant uranium and REE targets at James Bay Minerals’ Joule property
eU reading of up to 29ppm is 8x higher than the eU readings at the third-party Matoush uranium deposit
Upcoming field exploration could test uranium and REE targets

Special Report: James Bay Minerals has outlined significant targets for further exploration at its Joule property in the James Bay region, after high-resolution magnetic and spectrometric surveys generated exceptional rare earths and uranium results.

The 16,385 hectare Joule property includes a ~24km deformation zone running east to west through the property, with deformation widths of up to 1.5km in the north-eastern part of the property.

It is James Bay Minerals’ (ASX:JBY) flagship asset and is better known for its lithium potential, with recent field work having uncovered more than 250 targets in the broader La Grande project.

Uranium potential

As the results of the high-resolution magnetic and spectrometric surveys show, lithium isn’t the only critical mineral to be found at Joule.

The radiometric surveys returned equivalent-uranium (eU) readings of up to 29ppm with significant readings identified in three specific zones, while also uncovering elevated equivalent-thorium (eTh) concentrations of up to 22ppm that are indicative of significant rare earths mineralisation.

Highlighting just how significant the eU value at Joule are, spectrometric airborne survey over Matoush – one of just two uranium deposits in the James Bay region of Quebec – returned a top eU value of 3.5pp.

That the survey over Joule returned results over seven times higher than at Matoush, which has a historical non-JORC NI 43-101 inferred resource of 1.7Mt at 0.442% U3O8 and an indicated resource of 0.6Mt at 0.954% U3O8, is certainly worthy of attention.

“Another fantastic result for the company. Although we maintain our exploration efforts on LCT pegmatites, the results obtained from aeromagnetic and spectromagnetic surveys cannot be ignored,” JBY executive director Andrew Dornan said.

“As we have for lithium we will continue to sample and understand all relevant minerals on our properties.”

JBY will now combine the latest geophysics data with previously outlined high-priority targets to determine the next objectives for its upcoming field exploration program.

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.