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Usha Resources More Than Triples Land Position at Its Jackpot Lake Lithium Brine Project in Nevada
VANCOUVER, BC / ACCESSWIRE / February 16, 2023 / Usha Resources Ltd. ("USHA" or the "Compan...
About this update from Usha Resources Ltd
[{"type":"text","content":"Usha Resources More Than Triples Land Position at Its Jackpot Lake Lithium Brine Project in NevadaVANCOUVER, BC / ACCESSWIRE / February 16, 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 report that the Company has staked 302 claims totalling 5,914 acres surrounding the 140 optioned claims at its Jackpot Lake Lithium Brine Property (\"Project\"), effectively more than tripling the total land it controls within the Dry Lake basin. The total footprint of the Project now comprises 442 mineral claims with a total area footprint of approximately 35.3 km2 or 8,714 acres.The prospective lithium brine Project target is a strong conductive geophysical anomaly that was identified through gravity and controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) surveys. The CSAMT survey defined a strong conductive anomaly that comprised the entirety of the Company's initial optioned claim block (2,800 acres; 11.3 km2) that was open in all directions for further Project expansion. The target is shallow, predominantly above bedrock depths of 600 metres, and is approximately 450 metres thick. The Company has now staked all strategic available basin acreage surrounding its core claims.Current drill program findings (see Usha Resources' news release dated February 7, 2023) have demonstrated the potential for a significant lithium discovery, subsequently motivating the Company to stake the additional land within the basin to secure the projection of the aforementioned geophysical anomaly.The Company is now drilling the second hole of its program (see Usha Resources' news release dated February 14, 2023) and will incorporate the findings of its initial two holes to help identify and target higher porosity zones comprised of sand and conglomerate within the staked claims. As per the Preliminary Economic Assessment (PEA) completed by Pure Energy Minerals for their Clayton Valley project, their sand and conglomerate zone was identified to contain a large volume of brine with superior grades.Deepak Varshney, CEO of Usha Resources, commented: \"Drilling to date has provided support that the Jackpot Lake lithium brine target is in a...