James Bay Minerals increases landholding at La Grande lithium project by 70%
James Bay Minerals (ASX: JBY) has announced a 70% increase to its landholding at the La Grande lithium project within Canada’s prospective Istchee-James Bay region.
The company confirmed it had added 121 square kilometres to the large-scale project as a result of a maiden field program, desktop studies and exploration success by other operators in the region.
The acreage at La Grande now totals 302 sq km and covers more than 55km of lithium trend along major deformation corridors within the premium La Grande greenstone belt.
It is considered to be one of the largest landholdings along the belt.
Company strategy
Executive director Andrew Dornan said the increase was a part of the company’s strategy at La Grande.
“Strategically expanding our land position was always a high priority given the success of our maiden field campaign, the identification of new prospective areas and the [exploration] results from neighbouring companies,” he said.
“Our land position is now one of the largest along the La Grande greenstone belt which is significant given the rate of recent discoveries in the area.”
Properties expanded
The three properties which make up the La Grande project have each been expanded.
The Aqua property has increased by 56 sq km, taking its total area to 88 sq km.
Aqua is directly adjacent to and on trend from FIN Resources’ (ASX: FIN) recent outcropping spodumene discovery at the White Bear target within the Cancet West project.
La Grande’s flagship Joule property was expanded by 59sqkm for a new total of 164sqkm as a result of James Bay identifying additional targets from desktop reviews and helicopter mapping.
The Aero property was expanded by 6sqkm and now covers 50sqkm.
Mr Dornan said the expansion of Aero property is significant for James Bay given FIN’s recent discovery on the north-west boarder of Aqua.
The La Grande project is located along trend from the Cancet lithium project owned by Winsome Resources (ASX: WR1) and the world-class CV5 deposit owned by Patriot Battery Metals (ASX: PMT).