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Usha Resources Acquires Second Ontario Lithium Project with 119 Reported Prospective LCT-Pegmatites
VANCOUVER, BC / ACCESSWIRE / April 4, 2023 / Usha Resources Ltd. ("USHA" or the "Company"...
About this update from Usha Resources Ltd
[{"type":"text","content":"Usha Resources Acquires Second Ontario Lithium Project with 119 Reported Prospective LCT-PegmatitesVANCOUVER, BC / ACCESSWIRE / April 4, 2023 / Usha Resources Ltd. (\"USHA\" or the \"Company\") (TSXV:USHA)(OTCQB:USHAF)(FSE:JO0), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to announce that, subject to the approval of the TSX Venture (the \"Exchange\"), the Company has executed an option (the \"Option Agreement\") with 2758145 Ontario Ltd., Peter Gehrels, and Allan George Onchulenko (the \"Vendors\") of Atikokan, Ontario, for the right to purchase an undivided 100% interest in eight unpatented mining claims located in the Thunder Bay Mining Division of Ontario (the \"Nym Property\", \"Nym\", or the \"Property\").The Nym Property is the second acquisition of Usha's planned expansion into the hard-rock pegmatite space and is a continuation of the Company's strategy to build an accretive portfolio of highly complementary hard-rock assets to its 100% owned flagship Jackpot Lake Lithium Brine Project, where it recently tripled its land position (see the Company's news release dated February 28, 2023) and is progressing with its maiden drill program with a goal of defining a 43-101 compliant resource (see the Company's news release dated February 16, 2023).Nym PropertyThe Nym Property, located in the Thunder Bay Mining Division near Atikokan, Ontario, is contiguous with the recently acquired White Willow Lithium-Tantalum Property (\"White Willow\", see the Company's news release dated March 28, 2023), and expands the existing 712 claim block to a total of 720 claims, adding 170 hectares to the 15,510 hectares the Company has already optioned (Figure 1).The Property is located approximately 500 metres along strike from the Maple Leaf Dike on the White Willow Property which is confirmed to host a fertile lithium-cesium-tantalum (\"LCT\") system with samples assaying as high as 0.5% Li2O and 14.64% Ta2O5 in and around the dike with coarse-grained tantalite present. Coarse-grained tantalite is only known to be found at one other locality in Ontario which is the North Aubrey pegmatite at Green Technology Metals (GT1) Seymour Lake Project where GT1 has identified a 9.9 Mt resource at 1.04% Li2O.Similar to White Willow, the Property is un...