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Usha Resources Reports Highest Lithium Grades to-date in Second Core Hole of Drill Program at the Jackpot Lake Lithium Brine Project
Company Confirms Presence of Higher-Grade Lithium in Shallow Soils Throughout Second Hole; Identi...
About this update from Usha Resources Ltd
[{"type":"text","content":"Usha Resources Reports Highest Lithium Grades to-date in Second Core Hole of Drill Program at the Jackpot Lake Lithium Brine ProjectCompany Confirms Presence of Higher-Grade Lithium in Shallow Soils Throughout Second Hole; Identifies Significantly Thicker Zone of Higher-Porosity Sand-Conglomerate Zone at Basin Bottom Overlain by Massive Interval of EvaporitesVANCOUVER, BC / ACCESSWIRE / April 12, 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 provide an update on its on-going drill program at the Jackpot Lake Lithium Brine Property (\"Project\").Highlights:Lithium is present in drill hole JP22-02 at a grade of up to 820 ppm, with an average of 334 ppm Li in thirty samples collected from shallow surface soils (<500 ft), confirming that the soils at the Project are highly enriched in lithium. These results are over four times the reported historical average and compare very favourably to the reported average of 100 ppm for the Esmeralda Formation, one of the potential sources of the lithium enrichment for the brines present in Clayton Valley which hosts Albemarle's Silver Peak Lithium Brine Mine, the only producing lithium operation in the United States[i].Similar stratigraphy has been encountered in JP22-02 as that in drill hole JP22-01, suggesting that the favourable stratigraphy identified in drilling is present throughout the basin as the two holes are 2.75 km apart. Identifying these similarities, especially in the basal conglomerates and evaporites, 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.Significant evaporitic crystallization, indicative of a brine-forming environment, is present throughout JP22-02 with a notable interval of 146 feet of massive evaporites identified from a depth of 1,346 to 1,504 feet in addition to the interbedding, veining and inclusions found throughout the sediments above. Their presence supports that the Dry Lake Basin is a brine forming environment as crystallization of evaporites would not occur in a freshwater system.A large zone of higher-porosity sand and conglomerate has been ...