James Bay Minerals (ASX:JBY) has identified ‘large’ outcropping pegmatite dykes up to 500m in length from its maiden field exploration program at the Aqua property in Canada.
The $22.08 million market capitalisation company says the pegmatite dykes were uncovered along Aqua’s mid-west boundary and lie near a large regional fault.
Planning is currently underway for a field program to fully investigate the pegmatite outcrops delineated from the air.
James Bay says it is ‘highly encouraging’ to have identified these pegmatite ridges, with the discovery of lithium mineralisation on neighbouring leases providing further ‘strong’ targets for exploration work going forward.
According to the company, this pegmatite discovery appears to be a part of the broad pegmatite field recently uncovered by FIN Resources (ASX:FIN) at its Cancet West Project.
The Aqua Property lies 45km west along-strike of Winsome Resources’ (ASX:WR1) Cancet Lithium Deposit and 100km west of Patriot Battery Minerals’ (ASX:PMT) Corvette Lithium Deposit.
James Bay Minerals Executive Director Andrew Dornan says it was ‘great’ to see FIN Resources discover a ‘significant’ pegmatite outcrop at Pancet West.
“It’s extremely encouraging given we have identified multiple large pegmatites which we believe connect with FIN’s discovery.
“Our theory on why we chose these properties continues to be validated”
Our theory on why we chose these properties continues to be validated.”
The Aqua property covers a 3,225 hectare area and comprises 63 continuous claims.
James Bay Minerals is a lithium explorer focused on its 224km-square project area located within the James Bay region of Quebec, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: James Bay Minerals
