Drill Hole JBRC007 Extends Independence Project Mineralisation 100m North

Exploration Breakthrough at Independence Project

James Bay Minerals Limited (ASX, JBY) has delivered a significant update from its Independence Project in Nevada, reporting high-grade polymetallic drill intercepts that extend known mineralisation beyond the current near-surface resource estimate. The standout result comes from drill hole JBRC007, which intercepted multiple stacked lodes including a 12.2-metre section grading 1.2 grams per tonne gold, with associated silver and copper values reaching 167 grams per tonne and 1.2 percent respectively. This intercept lies approximately 100 metres north of previous drilling limits, highlighting the potential for resource expansion.

Located in Lander County, Nevada, the Independence Project benefits from its proximity to major mining operations such as the Nevada Gold Mine’s Phoenix Project and the SSR-operated Marigold Complex. The region is renowned for its tier-1 mining jurisdiction status, supported by robust infrastructure and a stable regulatory environment, factors that enhance the project's attractiveness to investors and operators alike.

Drilling Progress and Future Targets

To date, ten reverse circulation drill holes have been completed, with assay results from several holes pending and expected in August. The recent assays confirm the presence of shallow oxide gold and polymetallic mineralisation at North Hill, an area previously assumed to be faulted out and unprospective. The discovery of the Pumpernickel Chert host rock at North Hill and the identification of high-grade stacked lodes suggest a more continuous and extensive mineralised system than previously understood.

Meanwhile, earthworks at Rebel Peak are advancing, with road construction approximately halfway complete. This infrastructure development will facilitate upcoming drilling campaigns targeting the high-grade Rebel Trend, where rock chip samples have returned gold grades as high as 16.6 grams per tonne. Rebel Peak is considered a priority target due to its structural complexity, where major faults and intrusions intersect the epithermal gold mineralisation, potentially hosting significant high-grade mineralisation from surface.

Metallurgical Testing and Resource Implications

Complementing the drilling program, core samples from the high-grade skarn resource have been transported to Perth for metallurgical testwork. These tests aim to assess the amenability of the mineralisation to processing methods such as heap leaching, a widely used technique in Nevada’s epithermal deposits. Early indications suggest that thick gold mineralised intercepts within the chert could be effectively processed using heap-leach extraction, which would support cost-effective development scenarios.

James Bay Minerals’ Managing Director, Matthew Hayes, emphasised the encouraging nature of the results, noting the potential for further extensions both along strike and at depth. The company plans to continue drilling at North Hill and to test extensions below the optimised pit in the southern portion of the project. These efforts could materially enhance the existing JORC 2012 Mineral Resource Estimate, which currently includes both near-surface oxide and high-grade skarn resources.

Strategic Positioning in a Premier Mining District

The Independence Project’s location within the Battle Mountain Mining District places it in a prolific gold and polymetallic belt with a rich mining history dating back to the late 1800s. The project’s tenure is secure, with all necessary permits in place to support ongoing exploration and development activities. The combination of high-grade drill results, ongoing metallurgical studies, and strategic infrastructure development positions James Bay Minerals well to unlock further value from this promising asset.