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Usha Resources Provides Update on Jackpot Lake and Lithium Project Portfolio Expansion Plans
VANCOUVER, BC / ACCESSWIRE / February 28, 2023 / Usha Resources Ltd. ("USHA" or the "Compan...
About this update from Usha Resources Ltd
[{"type":"text","content":"Usha Resources Provides Update on Jackpot Lake and Lithium Project Portfolio Expansion PlansVANCOUVER, BC / ACCESSWIRE / February 28, 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 continued progress at the Jackpot Lake Lithium Brine Property (\"Project\"), with the second hole (\"JP22-2\") of its drill program having reached the 1,755 feet level and the exploration team reporting a high-porosity zone of sand followed by conglomerate has been identified beginning at 1,533 feet.Additionally, the Company is pleased to report that it is also actively reviewing opportunities to acquire and develop new lithium projects with a focus on Ontario and Quebec.Jackpot Lake Exploration UpdateThe exploration team continues to encounter similar stratigraphy to the core observed from the first hole (\"JP22-1\") with the identification of a partially cemented sand zone beginning at 1,533 ft and a conglomerate zone beginning at 1,697 feet. Reaching this sand-conglomerate zone is a high priority for the program as it should contain the greatest porosity within the basin aquifer (see Figure 1). 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.\"We are pleased with the drilling completed so far in JP22-2,\" said Deepak Varshney, CEO of Usha Resources. \"Demonstrating continuity within the first two drill holes of our project is a key finding that continues to support that Dry Lake, within which Jackpot is hosted, is a similar geologic setting to that of Clayton Valley. The information identified continues to help us build our model of the basin and we look forward to seeing the stratigraphy within the rest of our second hole as drilling continues.\" Figure 1 - Core taken from JP22-2 showing core from the conglomerate zone. Reaching the sand-conglomerate zone is a high priority for the program as it should contain the greatest porosity within the basin aquifer.Lithium Strategy UpdateThe Company is also pleased to report it is actively reviewing opportunities to acquire or devel...