Black Bear Minerals advances U.S. silver and gold projects with high-grade drill hits

James Bay Minerals Limited ( (AU:BKB) ) has provided an update.

Black Bear Minerals reported significant exploration progress at its Shafter Silver Project in Texas and Independence Gold Project in Nevada during the March 2026 quarter. The company is advancing resource conversion, confirming permits, and assessing restart options at Shafter while extending mineralised zones at Independence, underpinning its growth trajectory in North American precious metals.

At Shafter, initial drilling returned wider and higher-grade silver-polymetallic intercepts outside the current foreign resource estimate, supporting the company’s targeting model and highlighting additional zinc, lead and gold potential. Black Bear also engaged engineering firm Ausenco to conduct an operational restart assessment and confirmed that all key operating and environmental permits remain active, positioning the project for potential reactivation.

At the Independence Gold Project’s Rebel Peak area in Nevada, reverse circulation drilling delivered extensions to near-surface gold-silver mineralisation, including a 280-metre northward strike extension to previous drilling. These results suggest scope to grow the existing mineralised footprint, bolstering the project’s development potential and reinforcing Black Bear’s strategic focus on building a diversified North American metals asset base.

More about James Bay Minerals Limited

Black Bear Minerals Limited is an Australia-based mining company focused on precious and base metals, with key projects in the United States. Its portfolio includes the Shafter Silver Project in Texas, a high-grade silver deposit within the Sierra Madre Belt extension, and the Independence Gold Project in Nevada, targeting near-surface gold-silver resources.

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Current Market Cap: A$92.99M

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