{kanada_flagge}While Usha Resources (WKN A3D5BX / TSXV USHA) is advancing the work that is expected to lead to an initial lithium resource at the Jackpot Lake brine project in Nevada, soon, the company is already starting exploration at its recently acquired hard rock lithium projects in Canada in parallel. An initial project visit to the Mead property confirmed the presence of a high-yield lithium-cesium-tantalum (LCT) system, according to the company!
{kanada_flagge}While Usha Resources (WKN A3D5BX / TSXV USHA) is advancing the work that is expected to lead to an initial lithium resource at the Jackpot Lake brine project in Nevada, soon, the company is already starting exploration at its recently acquired hard rock lithium projects in Canada in parallel. An initial project visit to the Mead property confirmed the presence of a high-yield lithium-cesium-tantalum (LCT) system, according to the company!
Indeed, during the two-day walkover of the Mead project, the Usha team identified numerous minerals indicative of such an LCT system, including garnet, tourmaline and, most notably, beryl. The latter is particularly promising as the 1,001-hectare Mead project is adjacent to Brunswick Exploration’s (TSXV BRW) Hearst project to both the east and west (see map) and lies in the same granite sedimentary belt.
And Brunswick is currently drilling the spodumene-bearing Decoy pegmatite on Hearst – spodumene is the major lithium-bearing mineral in pegmatites – as well as other pegmatites found on a west-southwest trend toward the Mead property!
Source: Usha Resources
Extensive exploration work planned
In light of this successful first visit to the Mead lithium project, Usha now intends to prioritize further exploration on the property, with activities to include trenching, mapping, and soil sampling and sampling from additional visible outcrops. All of this will then culminate in an initial drill program, for which Usha has already received approval, initially for up to five drill holes.
Bottom line: Usha Resources recently secured the option on the Mead project for just $5,000 and 50,000 of its own shares! To acquire 100% of the promising property, as is now becoming increasingly apparent, will cost CEO Deepak Varshney’s company just $62,500 and 412,500 shares – and that spread over three years… Now, it is a important to further substantiate the thesis of the productive LCT system at Mead as quickly as possible, in order to possibly achieve a similarly positive development as its neighbor Brunswick Exploration. It is also important to remember that Usha has five other pegmatite projects, all of which the company says have significant potential for lithium mineralization. And finally, a maiden resource estimate on the Jackpot Lake lithium brine project is also approaching in leaps and bounds. In any case, we are staying tuned to this, in our opinion, very exciting lithium story, but also point out that the high potential, in our opinion, is of course offset by considerable risks.
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