Funding secured to support exploration across new Battle Mountain area tenements
Lithium-cum-gold explorer James Bay Minerals is doubling down on its new gold opportunity in Nevada, tapping investors for A$6 million to fund drilling and development work at the Independence gold project. The Gerard O'Donovan-chaired company will issue new shares at 65c to raise the funds, with Bell Potter managing the placement. James Bay was focused on lithium in Canada until it signed a $2.
Rock chips gathered in November showed assays of up to 31.7 grams per tonne gold in the Independence area and reportedly defined mineral trends outside of the existing non-JORC resource. James Bay launched a drilling program at the project earlier this week, with around 2000m of reverse circulation and diamond drilling planned to target mineralisation below the shallow resource.
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