Usha Resources Confirms Presence of a Lithium-Cesium-Tantalum System at the Mead Lithium Pegmatite Project and Receives Drill Permit
Vancouver, British Columbia / June 1, 2023 – Usha Resources Ltd. (“USHA” or the “Company”)
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Usha’s portfolio of strategic properties provides target-rich diversification and consist of Jackpot Lake, a lithium project in Nevada; White Willow, a lithium project in Ontario; and Lost Basin, a gold-copper project in Arizona. Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.
To date, drilling at Dry Lake Basin remains successful, and continues to show strong geographic similarities to Albemarle’s Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America.
Company recently reported the highest lithium grades ever at the project, with analytical results from JP22-02 returning as high as 820 ppm and averaging 334 ppm Li in thirty samples collected from shallow surface soils (<500 ft)
Usha will strive to become a best-in-class mining company that creates value for our shareholders through safely and responsibly exploring essential metals for the world of tomorrow.
Spanning 15,680 hectares, the property is in proximity to other lithium projects in the region such as the Seymour Lake Lithium Project, the Georgia Lake pegmatite field, and the Separation Rapids Lithium deposit, showcasing the region’s rich lithium potential.
Usha is in the midst of a to-date successful drill program encountering lithium in shallow soils up to 820ppm, a higher-porosity sand-conglomerate zone at basin bottom with evaporitic salt crystallization confirmed to extend to depth at both drill holes to date.
Gold-bearing quartz veins are the best known type of mineralization in the Gold/Lost Basin District. Limited mining has indicated grades averaging 11.34 g/t Au.
Compelling share structure with only ~ 46M shares outstanding, approximately 70% of which are owned by insiders, management, and strategic shareholders
Arizona, Nevada, and Ontario are among the highest rates jurisdictions for mining exploration in the world.
Projects in Nevada, Arizona, and Ontario mean exploration crews are busy every month of the year.
Usha is currently drilling the Jackpot Lake Lithium Brine Project in Nevada, and will begin exploration of the White Willow Li-Ta project, both of which present significant opportunity for discovery.
Vancouver, British Columbia / June 1, 2023 – Usha Resources Ltd. (“USHA” or the “Company”)
Vancouver, British Columbia / May 18, 2023 – Usha Resources Ltd. (“USHA” or the “Company”)
Vancouver, British Columbia / May 3, 2023 – Usha Resources Ltd. (“USHA” or the “Company”)
