Business
Usha Resources Begins Second Drill Hole at the Jackpot Lake Lithium Brine Project
VANCOUVER, BC / ACCESSWIRE / February 14, 2023 / Usha Resources Ltd. ("USHA" or the "Compan...
About this update from Usha Resources Ltd
[{"type":"text","content":"Usha Resources Begins Second Drill Hole at the Jackpot Lake Lithium Brine ProjectVANCOUVER, BC / ACCESSWIRE / February 14, 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 lithium and other battery and precious metal projects, is pleased to announce the Company has now commenced drilling its second hole (\"JP22-2\") at its Jackpot Lake Lithium Brine Property (\"Project\") located in Clark County, Nevada, having successfully completed drill hole JP22-1 (see Usha Resources' news release dated February 7, 2022).JP22-2, located approximately 2.75 kilometres north-northwest of JP22-1, will target the \"north lobe\" of the Dry Lake Basin along Line 5 of the controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) survey as shown in Figure 1 below. Target depth for JP22-2 will be bedrock to a maximum of 610 metres with a goal of further examining and corroborating the basin geometry with a specific focus on higher porosity zones comprised of sand and conglomerate that should contain the greatest porosity within the basin aquifer and serve as a pumpable zone into which the fluids above can drain.The CSAMT survey has defined a strong conductive anomaly that comprises the entirety of the Company's claim block (2,800 acres; 11.3 km2) and is open in all directions for expansion. The target is shallow, predominantly above bedrock depths of 600 metres, and is approximately 450 metres thick. The total basin within which the target is situated is estimated to be approximately 10,900 acres.The first hole of the drill program, JP22-1, was completed to a total depth of 1,723 feet or 525 metres below grade along Line 2 of the CSAMT survey confirming:Support for a similar geologic setting to that of Clayton Valley, hosting Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America.Lithium is present in JP22-1 at a grade of up to 300 ppm within ten samples collected from shallow surface soils (<442 ft). The Project target was originally identified based on historical geophysical studies and 129 core samples collected by the USGS with an average lithium value of 175 ppm.Evaporitic crystallization, indicative of a brine-forming environment, extended to the top...