James Bay Minerals Limited (ASX:JBY) Reports Exploration Advancements at Independence Gold Project
Drilling Achievements
James Bay Minerals Limited (ASX:JBY) has completed six drill holes at the Independence Gold Project in Nevada, producing significant results. This includes five Reverse Circulation (RC) holes and the first diamond drill hole, JBDD001. These efforts targeted additional mineralisation zones beneath the current oxide Mineral Resource.
High-Grade Rock Chip Results
The company received strong rock chip assay results, with 77 samples returning grades greater than 1g/t Au. Notably, the peak assay result reached 31.7g/t Au over a strike length exceeding 1.2 kilometres. These results indicate promising oxide gold mineralisation in previously untested areas named ‘North Hill’ and ‘Sunshine South’.
Future Exploration Plans
Looking ahead, James Bay plans to launch a larger Phase 2 drill program during Q1 2025. Drilling will focus on targeting extensions of oxide mineralisation in the northern half of the Project, and at the untested Rebel Peak prospect, which has shown exceptional high-grade gold results in prior samples.
Executive Comments
Andrew Dornan, Executive Director of James Bay Minerals, commented, “Since acquiring the Independence Gold Project on 29 November 2024, we have made excellent progress and plan to maintain this momentum into Q1 2025…”
Upcoming Assays
Assay results from the Phase 1 drilling campaign are expected within the first quarter of 2025, which will provide further insights into the project’s mineralisation potential.
Motley Fool contributor Aaron Shaw 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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