James Bay Minerals to Acquire the Advanced Independence Gold Project, Nevada
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James Bay Minerals has entered a binding agreement to acquire up to 100 percent of the advanced Independence Gold Project, located in Nevada.
The Independence Project is owned by Independence Mining, a joint venture between Battle Mountain Resources (51.54 percent) and Americas Gold Exploration (48.46 percent).
The company has agreed to acquire 100 percent of the issued capital of Battle Mountain Resources and, in turn, will acquire its nterest and the right to earn the Americas Gold Exploration interest over a period of two years. If the company completes the earn-in, it will hold a 100 percent interest in Independence Mining and the Independence Project.
The transformational acquisition ensures that the company is now underpinned by an advanced exploration asset, with significant resource growth potential and future low-cost development opportunities in a tier-1 global mining jurisdiction.
“This is an exceptional opportunity for our shareholders and we are extremely fortunate to have secured this acquisition and earn-in at the Independence Gold Project. This gives us the opportunity to enhance our existing asset base in North America with a substantial high-grade gold asset with immediate growth potential,” said James Bay Executive Director, Andrew Dornan.
“The combination of existing high-grade resources, significant growth potential at both the near-surface and skarn deposits, and a location in one of the best mining districts globally presents a huge opportunity for the company. We are very excited about what this transformational deal brings to James Bay,” added Dornan.
The Independence Project consists of 14 unpatented mining claims and 84 unpatented mill sites, situated in Lander County, Nevada, and spans approximately 627 acres of Bureau of Land Management (BLM) administered lands. It is adjacent to the Nevada Gold Mine’s Phoenix Project and about 16km south of Battle Mountain.
In addition, the project encompasses section 17,470 acres of private fee surface land in the Battle Mountain Mining District where the company holds the exclusive water rights and where it will locate any future production water wells.
James Bay Minerals Limited, a mineral and exploration company, engages in the acquisition, exploration, and development of mineral resource projects in Canada. The company primarily explores for lithium deposits. It holds interest in the La Grande Project located in northwest Quebec, Canada and the Troilus Project located in the province of Quebec, Canada. The company was incorporated in 2022 and is based in East Perth, Australia.
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