James Bay Minerals Limited (ASX:JBY) Announces Maiden JORC Resource at Independence Gold Project
Maiden JORC Resource Estimate
James Bay Minerals Limited (ASX:JBY) has announced its maiden JORC compliant Mineral Resource Estimate (MRE) for the Independence Gold Project in Nevada, USA. The MRE totals 1,369,509 ounces of gold, including 984,412 ounces from a high-grade skarn resource at an average grade of 6.67 g/t Au. Additionally, the MRE includes a near-surface epithermal resource of 294,395 ounces Indicated and 90,702 ounces Inferred.
Significant Growth Potential
The high-grade skarn mineralisation remains open for expansion, particularly to the north, where historic drill hole WI-002 intercepted similar mineralisation 580 meters outside the current resource area. The near-surface epithermal resource also presents substantial upside, with mineralisation open in all directions and proven outside the resource shell. Drill planning for Q1 2025 is nearing completion.
Executive Comments
Executive Director Matthew Hayes stated, “Our maiden JORC MRE of 984,412 ounces of gold at 6.67 g/t Au positions JBY as one of the ASX’s largest high-grade gold explorers. Notably, significant mineralisation exists beyond both the skarn and near-surface epithermal models, remaining open in all directions. These factors strongly suggest a connection between the surface mineralisation and deeper skarn material, indicating substantial resource growth ahead.”
Motley Fool contributor Lianne Eastty 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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