James Bay Minerals (ASX:JBY) has unveiled the extension potential to the existing 419,600 ounces of gold-equivalent resource across the entire Independence Project in Nevada, US.
Based on the outcomes of delineating significant stacked mineralised lodes below the existing resource across the northern half of Independence, James Bay believes there is potential for further stacked lodes to exist in the southern portion of the project.
James Bay, which has a market capitalisation of $81.78 million, is planning drilling in the south of the project to test for mineralised lodes below the resource, analogous to those intercepted in the northern half of the project.
Observations from drilling show that the highest grade intercepts are present where major faults and intrusions dissect chert-hosted epithermal mineralisation, marking Rebel Peak as a priority target for high-grade from-surface mineralisation.
With the completion of oxidation categorisation of drillhole intercepts, James Bay can continue to model mineralisation. The company has a view to include the additional stacked lodes located outside the resource into a future resource update and unlock the potential of the project.
This news comes after the 2025 drilling program continued to show the presence of additional odes outside the extents of the existing pit-constrained resource.
Executive Director Matthew Hayes says the company has completed oxidation state categorisation for all drillholes and subsequently reviewed drill intercepts across the entire mineralisation envelope.
Some of the latest results include 39.6m @ 2.1 grams per tonne gold-equivalent from 134.1m, including 19.8m @ 3.8g/t gold-equivalent; and 12.2m @ 1.3g/t gold-equivalent from 158.5m, including 1.5m @ 7.4g/t gold-equivalent.
James Bay Minerals is a mineral explorer focused on advancing the Independence Project, covering 1,861 acres, sits in Lander County, Nevada, US.
Write to Aaliyah Rogan at Mining.com.au
Images: James Bay Minerals
