The Company (through its wholly owned subsidiary) is the holder of 104 Claims and has entered into three binding agreements under which it will, subject to the Company receiving a Conditional Admission Letter from the ASX, acquire a 100% interest in a further 333 Claims. Collectively, the 437 Claims will comprise the La Grande Project and the Troilus Project in Quebec Province, Canada.
La Grande Project
The La Grande Project consists of 357 Claims (approximately 18,088 hectares) located between 50km to 190km east of the town of Radisson in northwest Quebec, Canada.
The property topography consists of forested gently rolling hills, drainages, and muskeg swamps between approximately 260 and 350 meters elevation, typical of the James Bay region. Vegetation is characteristic of the Boreal Vegetation Zone in Quebec and consists mainly of black spruce, and lesser alder, poplar, birch, and various shrubs.
The La Grande Sub-province borders the plutonic Bienville sub province to the north and is bounded to the south by the metasedimentary and plutonic Opinaca sub province. The property is situated within the larger La Grande River Greenstone Belt (LGGB) and is dominated by volcanic rocks metamorphosed to amphibolite facies. Collectively, the La Grande and Opinaca sub-provinces host a significant number of the known spodumene pegmatite occurrences in Quebec.
The La Grande Project consists of the following three discreet prospects:
(a) Joule Prospect, comprising 205 Claims (covering an area of approximately 10,498 hectares) located 50km southeast of Radisson;
(b) Aero Prospect, comprising 89 Claims (covering an area of approximately 4,366 hectares) located 150km east of Radisson; and
(c) Aqua Prospect, comprising 63 Claims (covering an area of approximately 3,225 hectares) located 190kmeast of Radisson.
Troilus Project
The Troilus Project consists of 80 continuous claims covering approximately 4,350 hectares in the Lac Assinica section of James Bay. Located approximately 105km northwest of Chibougamau in the province of Quebec, Canada, the Troilus Project is in the western portion of the Upper Archean FrotetEvans metavolcanic belt, Québec’s second-largest Archean greenstone belt, comprising the central part of the Opinaca Sub province.
The geology of the Troilus Project is relatively unexplored. The primary type of mineralisation suggested by the data and mineralisation on adjacent properties is lithium-bearing spodumene which occurs in granite pegmatite and aplite dykes.
The Troilus Project is accessible from the nearest major town, Chibougamau, located 105km southeast, with a population of approximately 7,500 people. The project is accessible for most of the year by a vehicle on predominantly sealed roads, with the last 27km by dirt road. The Troilus Property is accessible for exploration via several logging roads connected to the Route de Nord Highway that passes just south of the property.
Sayona Mining Ltd’s (ASX: SYA) Moblan Lithium Project is approximately 5km to the south, while Vision Lithium Ltd’s (TSX.V: VLI) Sirmac Project and Winsome Resources Ltd’s (ASX: WR1) Sirmac-Clappier Projects are situated approximately 25km west of the Troilus Project.
It is anticipated that JBY will list on the ASX during September 2023.
James Bay Minerals
James Bay Minerals is listing on the ASX with ownership of prospective lithium projects within the James Bay region of Quebec, Canada.
www.jamesbayminerals.com.au
