James Bay Minerals Limited (ASX:JBY) Discovers High-Grade Copper and Silver at Independence Project
Significant Discoveries
James Bay Minerals (ASX:JBY) has reported substantial historic drilling results at its Independence Project in Nevada, revealing copper mineralisation up to 4% and silver grades reaching as high as 6,874g/t. These findings emerged from a comprehensive review of existing data since acquiring a majority stake in the project.
High-Grade Intercepts
Among the most notable drill holes, AGEI-29 intersected 15.2m at 1.2% copper and 0.7g/t gold, while GM-52 revealed 7.6m at an exceptional 1,429g/t silver and 2.9g/t gold from 22.9m depth. Additionally, 38 drill holes reported silver intercepts exceeding 100g/t, with some values capped due to assay limitations.
Insights from Leadership
Andrew Dornan, Executive Director of James Bay Minerals, highlighted the unexpected quality of the historical data, stating, “These results reveal significant potential for copper and higher-grade silver. The project now holds ample opportunity for shallow gold and other related discoveries.” He affirmed the dual focus on both gold and silver along with emerging copper prospects, positioning the Independence Project for substantial growth.
Next Steps in Exploration
Mapping and rock chip sampling are now complete, with additional assays pending for northern project areas. Initial drilling of approximately 2,000m has begun, primarily targeting near-surface mineralisation at Yukon Hill, with plans to follow up on high-grade results.
Future Prospects
The Independence Project benefits from its location in Nevada, a top mining jurisdiction known for its rich mineral deposits and stable regulatory environment, suggesting promising potential for future exploration success.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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