Vancouver, British Columbia / November 20,, 2024 – Usha Resources Ltd. (“USHA” or the “Company”) (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration company, is pleased to announce that it has finalized its plans for an Induced Polarization (IP) survey at its Southern Arm polymetallic VMS property (“Southern Arm” or the “Property”) in the metal-rich northwest Abitibi subprovince of mining-friendly Quebec. The Company has entered into an option agreement to earn 100% of Southern Arm over 2 years from Abitibi Metals Corp. (AMQ.CN, see news release dated July 17, 2024).
Highlights:
- Usha has retained Geophysique TMC to deploy the IP survey over the Hollywood trend of metal anomalies within the Southern Arm claim block, which will allow Usha to identify chargeability and resistivity anomalies associated with massive or disseminated sulphides down to a depth of 350+ m.
- Field crews will deploy to site mid-November to begin the survey and the results of this 3D survey will be interpreted alongside the results from the biogeochemical survey announced August 1, 2024, and used to establish high priority targets for Usha’s planned maiden 3,000 metre drill program.
- The Property is situated in a region famous for its endowment in precious and base metals (Fig. 1). Notable nearby projects include:
- ~16 km from B26 deposit, which hosts an indicated resource of 6.97 Mt at 1.32 % Cu, 1.89% Zn, 0.60 g/t Au & 43 g/t Ag and inferred resource of 4.41 Mt at 2.03% Cu, 0.22% Zn, 1.07 g/t Au & 9 g/t Ag
- ~15 km from historic Selbaie mine, which produced 53 Mt at 0.96% Cu, 1.9% Zn, 0.58 g/t Au, 40.7 g/t Ag