James Bay Minerals up and running with maiden Quebec lithium exploration campaign

Less than a week after listing, James Bay Minerals (ASX: JBY) has its feet firmly on the ground in its highly prospective Canadian lithium exploration permits.

The high-profile James Bay management team recently wrapped up a successful $6 million IPO and listed on the ASX with a significant portfolio of exploration assets located in proximity to a number of recent sizeable lithium finds.

James Bay’s maiden program in Quebec is focused on high-priority areas within known lithium zones, with exploration works being undertaken by the company’s exploration partner Breakaway Exploration (BKE).

Aero the initial target

The company has elected to initially kick-off exploration at its Aero property in the La Grande greenstone belt – a prime James Bay lithium play in Quebec.

Executive director Andrew Dornan said the initial field program will include mapping of targeted areas of the Aero property, along with the collection of rock chips and channel samples for analysis.

“We are pleased to announce the start of our maiden exploration program, which marks a significant milestone for the company. It’s great to have boots on the ground at our Aero Property and we are looking forward to undertaking a focused and systematic field program,” Mr Dornan said.

“The skills, expertise and experience that our exploration partner Breakaway Exploration brings to the table is something we are very grateful to have access to. We look forward to providing further updates as our field program progresses.”

Mr Dornan said the initial field program will continue until the first snow fall arrives (expected around mid-October 2023).

Large exploration upside

The Aero property is made up of 89 contiguous claims covering an area of 4,365 hectares, including approximately 12km of deformation zones which are considered highly prospective for large-scale lithium-caesium-tantalum (LCT) pegmatites.

Highlighting the significant exploration potential of the district is the nearby lithium discoveries at Cancet owned by Winsome Resources (ASX: WR1) and Corvette owned by Patriot Battery Metals (ASX: PMT) . Patriot recently released a maiden Corvette inferred mineral resource estimate of 109.2 million tonnes at 1.42% lithium oxide and 160 parts per million tantalum pentoxide (0.40% lithium oxide cut-off grade).

Notably, Cancet and Corvette are also located along major deformation zones which run through the Aero properties.

Aero also benefits from its location near established infrastructure, including sealed roads which run through the property, allowing for easy access across the property.

Large lithium exploration portfolio

In the lead-up to listing, James Bay acquired a 100% interest in one of the largest lithium exploration portfolios in the James Bay region, covering an area of 22,438Ha or 224 square kilometres.

The company’s portfolio of properties was identified and secured by the company’s experienced team due to them displaying the key geological characteristics required to host massive LCT pegmatites.

The highly-regarded James Bay Minerals board comprises of:

• Andrew Dornan (executive director), former senior commercial manager with Pilbara Minerals (ASX: PLS), Tianqi Lithium (consultant), Fortescue Metals Group (ASX: FMG), Newmont and Rio Tinto (ASX: RIO);
• Gerard O’Donovan (non-executive chairman), former senior project manager at Pilbara Minerals (ASX: PLS) and currently managing director of recently listed lithium explorer Battery Age Minerals (ASX: BM8);
• Judy Baker (non-executive director), previously director of Nemaska Lithium for eight years and the founder of Lithium Canada Corporation; and
• Dean Ercegovic (non-executive Director), previously a founding director and chief operating officer of Primero Group (acquired by NRW Holdings (ASX: NWH)).

Troilus and Joule assets another prime asset

James Bay also owns the Troilus project located further to the south.

Troilus is just 5km to the north of Sayona Mining’s (ASX: SYA) Moblan lithium project and in close proximity to Winsome’s Sirmac-Clappier project.

The flagship Joule property encompasses an approximately 24km long prospective deformation zone along a regional fault which has been subject to minimal historical exploration. The eastern segment of the deformation zone extends for 14km and fan tails to reach a width up to 1.5km.

Initial drill programs are planned to commence in early 2024, pending results from the 2023 field program.