Vancouver, British Columbia / August 25, 2021 – Usha Resources Ltd. (“Usha” or the “Company”) (TSXV: USHA) (OTCQB: USHAF) is pleased to announce the appointment of Adrian Smith as a director of the Company, effective immediately.
Mr. Smith is currently the CEO of ArcPacific Resources Corp. and President and director of M3 Metals Corp. Mr. Smith is a professional geologist with over a decade of experience in the capital markets and mineral exploration and development sector. He has successfully executed multiple exploration programs and corporate strategies, including the acquisition, development and optioning of the Mohave Gold project in Arizona, USA during his time as CEO of M3 Metals Corp.
The Company also announces the resignation of Brian Moore as a director of the Company. The Company wishes to thank Mr. Moore for his contributions to the Company and wishes him the best in his future endeavors.
Mr. Smith will assist in the development of USHA’s Lost Basin gold-copper project (the “Lost Basin Property”) in Mohave County, Arizona and the Green Hills copper-cobalt project (the “Green Hills Property”) in Silver Bow and Madison Counties, Montana.
About Green Hills
The Green Hills Property is located within Silver Bow and Madison Counties, 32 kilometres south of Butte, Montana and is comprised of 65 Federal Unpatented Lode Claims that total over 1,342 acres.
The various claims comprising the Property have over 10,000 metres of historical drilling, including by majors such as BHP, Cominco, Homestake, Phelps Dodge and Rio Tinto. Significant drill and trench results include:
- 1.2% copper, 0.036% cobalt, and 200 ppb gold over 11.7 metres of massive sulfides in DH WCC‑4
- 0.15% to 0.3% cobalt and up to 1.14% copper over 96.3 metres in DH K-1 (note, only 1 ft was assayed for every 10 ft)
- 1.8% copper and 450 ppb gold over 1.25 metres in DH PD-1
- 19.0% zinc over 0.7 metres in DH M-1
- 19.8% zinc over 0.4 metres in DH 79-1
- Up to 4.7% copper, 0.07% cobalt, and 2.3 g/t gold in trenches advanced by BHP-Utah
Recent airborne geophysical survey work (Geotech’s Helicopter Borne VTEM) has delineated a series of high-priority electromagnetic anomalies within the Property (often indicative of sulphide mineralization), and numerous major and minor structures, which require follow-up exploration and possibly drilling. The Company’s plan over the coming months is to build on the geophysical work completed through further geophysical mapping and interpretation, sampling, and other techniques in order to launch a comprehensive drill program with the goal of completing a maiden resource at one or more areas.
About Lost Basin
The Lost Basin Property is located within the Lost Basin Mining District in Mohave County, Arizona and is comprised of 133 mineral claims that total over 5,000 acres. Recent work completed by the Company has identified the following:
- Red Basin: Highly anomalous soil samples were identified with 10 samples assaying over 0.2 g/t Au and as high as 11.134 g/t Au.
- Copper Blowout: 4 chip samples assayed above 1% Cu and as high as 1.53% Cu over 2 m.
- Mallory’s Trench: Chip samples yielded gold values as high as 2.6 g/t Au over 2 m.
The Company’s plan over the coming months is to build on the existing work by completing a trenching program over a period of four weeks that will also include soil sampling, geologic mapping, and rock sampling of these areas and other areas of interest at Lost Basin, including the Ideas Lode West vein where grab samples assayed as high as 45.4 g/t Au.
The primary objective of exploration will be to further develop USHA’s understanding of the nature of the gold mineralization at Lost Basin as it continues to develop targets for a follow-up core drilling program in 2021.
About Usha Resources Ltd.
Usha Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada. Usha is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in North America. Usha increases shareholder value through the acquisition and exploration of quality precious and base metal properties and the application of advanced state-of-the-art exploration methods. Usha’s portfolio of strategic properties provides diversification and mitigates investment risk.
USHA RESOURCES LTD.
“Deepak Varshney” CEO and Director
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