Drill targets already identified
The chemistry of plants can reveal a lot about buried mineralization that is not visible on the surface. So-called “biogeochemical methods” have proven particularly successful in the established Abitibi mining camp in Quebec, where Usha Resources (WKN A3D5BX / TSXV USHA) is now starting field work on the Southern Arm copper-gold VMS property just optioned from Abitibi Metals (TSXV: AMQ). As a result, Usha Resources is also utilizing this novel exploration technique that was not available to previous explorers. In addition, Usha will apply ground-based geophysical survey methods.
The Southern Arm property is considered prospective for polymetallic VMS-style mineralization and is located in close proximity to a number of VMS deposits. The Selbaie VMS mine with 53 Mt grading 0.96% Cu, 1.9% Zn, 0.58 g/t Au, 40.7 g/t Ag is located only 15 km to the southwest. Also adjacent is Abitibi Metals’ B26 deposit (~16 km SW), which hosts an indicated resource of 6.97 at 2.94% Cu Eq (1.32% Cu, 1.80% Zn, 0.60 g/t Au and 43 g/t Ag). Southern Arm extends for ~7.3 km along the known regional Bapst Fault. (see Figure 1). Several drill targets have already been identified on the property, including “Hollywood” where anomalous metal values have been measured over a ~1.8 km area that is open along strike.
Deepak Varshney, CEO of Usha Resources, commented: “We look forward to applying modern and novel exploration techniques on the Southern Arm property to penetrate the thick overburden that has deterred previous explorers. The Southern Arm property is exceptionally well positioned for the next major discovery at Abitibi and we are working closely with the region’s most successful exploration team, Abitibi Metals Corp. Our planned exploration program will apply techniques that have been proven in the Abitibi mining district but have not been applied in this area before. This work will help us define drill targets within the Hollywood Trend prior to commencing our fully funded maiden drill program for which planning has already commenced.”
Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the possibility to publish comments, analyses and news on http://www.goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. There is no contractual relationship between the GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.
The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.
According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Usha Resources and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, there is a contractual relationship between Usha Resources and GOLDINVEST Consulting GmbH, which includes that GOLDINVEST Consulting GmbH reports about Usha Resources. This is another clear conflict of interest.