Usha Resources Ltd. (TSXV: USHA) (OTCQB: USHAF) has resumed drilling activities at its Jackpot Lake lithium brine project in Nevada with drills anticipated to go into the ground June 1.
On Thursday, in addition to the Nevada site, the company also announced it will re-start exploration activities at each of its six lithium pegmatite projects in Ontario, involving a combination of prospecting, mapping and rock sampling to produce a resource estimate.
Drilling will use a a larger and more powerful drill rig, which will enable the development and sampling of JP22-01 and JP22-02 to a depth of 610 meters in an expanded borehole, which was not feasible with the previous rig. The ability to drill at depth will significantly enhance the company’s exploration efforts. It will allow for extensive investigation of the sand and conglomerate zones with higher porosity, where the most promising brine deposits are believed to exist.
This upcoming drilling work builds upon the recent discovery of the highest lithium grades at the project site, specifically at JP22-02. Shallow soil samples revealed lithium grades as high as 820 parts per million (ppm). The average lithium content across thirty collected samples was 334 ppm, confirming the significant lithium enrichment in the soils at Jackpot Lake.
These lithium assay results surpass the reported historical average by more than fourfold and compare favorably to the reported average of 100 ppm for the Esmeralda Formation, one of the potential sources of lithium enrichment for the brines found in Clayton Valley, where Albemarle’s (NYSE: ALB) Silver Peak Lithium Brine Mine is located.
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Usha Resources starts lithium exploration in Ontario
The exploration program will encompass a comprehensive range of fieldwork activities, including prospecting, mapping, soil sampling, and visible outcrop sampling. This extensive approach will provide valuable data and insights into the geological characteristics and lithium potential of each project area.
The primary focus of exploration will be identifying priority targets for a fall drilling program, in particular at White Willow, which has been confirmed to host a fertile lithium-cesium-tantalum system that contains coarse-grained tantalite crystallization only found in one other locale in Ontario: the North Aubrey pegmatite at Green Technology Metals‘ (ASX: GT1) Seymour Lake project, where GT1 has identified a 9.9-million-tonne resource at 1.04 per cent Li₂O.
“Each of these projects offer considerable exploration upside, as they are situated in highly prospective geological settings known for hosting significant lithium mineralization, and we look forward to providing updates as we explore and develop these promising lithium pegmatite projects in Ontario,” said Deepak Varshney, CEO of Usha Resources.
The company also started exploration activities at its Ontario Lithium Pegmatite Portfolio. The projects, named White Willow, Lee Lake, Mead, Bluett, Gathering Lake, and Triangle Lake, present significant potential for lithium mineralization in the region.
Usha Resources is a North American mineral acquisition and exploration company based in Vancouver, BC. The company’s primary focus is on the development of high-quality battery and precious metal properties that are drill-ready, offering significant upside and expansion potential.
Usha Resources shares rose 3.8 per cent to trade at $0.27 on the TSX Venture Exchange.
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