James Bay (ASX:JBY) expands La Grande lithium trail eastbound to Corvette

James Bay (ASX:JBY) expands La Grande lithium trail eastbound to Corvette

March 28, 2024 Off By Jack Baker

James Bay Minerals has claimed another 7000 hectares of territory on the explorer’s journey towards accumulating large-scale landholdings in the world-class Quebecois La Grande lithium province in its namesake region of Canada.

The new Le Grande East acreage expanded through acquisition and staking builds James Bay’s landholdings to over 37,000 hectares sitting within a magnetic low interpreted to trend onto Patriot Lithium territory and a Corvette discovery that exemplifies the lithium lustre of the Great White North.

And while the lithium-rich oft-frozen regions of Canada can be notoriously difficult to explore, the newly acquired eastern block sits a jump away from Transtaiga Highway, enabling year-round walk-up access.

James Bay Executive Director Andrew Dornan said that La Grande East was another exceptional addition to a critical minerals portfolio sited in a world-class district.

“Sitting within a magnetic low that trends into the same corridor as the Patriot Battery Metals Corvette discovery and with the Transtaiga Highway located less than 1km to the north of the property, this project already presents several exciting walk-up exploration targets,” he said.

It is early days, but initial review of the new property has spotted up multiple large white dyke-like features with strike lengths going beyond half a kilometre.

Western Australian company James Bay is still at the desk for now, and studies and review are continuing across the new territory to assess all available data to identify targets for first boots-on-ground exploration – set to begin in the June quarter of 2024.

The price of the territory came at an initial $21,000 Canadian dollars and 210,000 JBY shares to the vendor on top of a $13,604 staking, with an additional $30k and 300,000 shares to be paid within some two years if conditions are met.

James Bay company has now accrued more than 416 square kilometres of territory across the James Bay area, a figure cementing it as an emerging explorer with one of the region’s largest exploration portfolios.

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