Usha Resources Announces Completion of Phase 1 Fieldwork at the Southern Arm Copper-Gold VMS Property
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Usha Resources Announces Completion of Phase 1 Fieldwork at the Southern Arm
Copper-Gold VMS Property
Vancouver, British Columbia / November 14, , 2024 – Usha Resources Ltd. ( “ U S H A ” or the
“Company”) (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0) , a North American mineral acquisition
and exploration company, is pleased to announce that it has completed a biogeochemical black spruce bark
sampling survey at its Southern Arm polymetallic VMS property ( “Southern Arm” or the “Property”) in
the metal-rich northwest Abitibi subprovince of mining-friendly Quebec. The Company has entered into an
option agreement to earn 100% of Southern Arm over 2 years from Abitibi Metals Corp. (AMQ.CN, see
news release dated July 17, 2024).
Highlights:
710 black spruce bark samples were collected on a grid centred on the 7.3 km conductive trend
along the regional-scale Bapst fault, which is associated with Zn, Pb Ag, Mo and Cu occurrences,
as well as geology and alteration prospective for polymetallic VMS-style mineralization.
The Company intends on completing an induced polarization survey shortly before proceeding with
a planned 3,000 metre maiden winter drill program.
The Property is situated in a region famous for its endowment in precious and base metals (Fig. 1).
Notable nearby projects include:
o ~16 km from B26 deposit, which hosts an indicated resource of 6 .97 Mt at 1.32 % Cu,
1.89% Zn, 0.60 g/t Au & 43 g/t Ag and inferred resource of 4.41 Mt at 2.03% Cu, 0.22%
Zn, 1.07 g/t Au & 9 g/t Ag
o ~15 km from historic Selbaie mine, which produced 53 Mt at 0.96% Cu, 1.9% Zn, 0.58 g/t
Au, 40.7 g/t Ag
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Figure 1 - Bedrock geology and regional mineral occurrences associated with the synvolcanic Brouillan Complex, Geology after
SIGEOM, 2024.
In the northwest Abitibi subprovi nce, mineral occurrences are a ssociated with felsic volcanic rocks and
regional-scale synvolcanic faults (Fig. 1). The synvolcanic Bapst Fault (Faure, 2011) transects the Southern
Arm property, and within this area, the sparse historic drill l ogs record felsic volcanic stratigraphy,
alteration assemblages and widespread metal anomalies that are prospective for polymetallic VMS
formation, within a similar geologic setting as the neighbouring historic Selbaie mine (Fig. 1). These results
have not been followed up due to the Property’s till cover, how ever the use of biogeochemical sampling
will allow for the identificati on of geochemical anomalies in t he underlying bedrock and help to establish
high priority targets for Usha’s upcoming 3,000 metre drill program commencing winter 2024-2025.
Biogeochemical surveys are exploration techniques that excel at testing for buried mineralization not
exposed at the surface by sampling and analyzing whole or selec ted parts of plants. Black spruce bark
sampling, in particular, has proven to be an effective method i n the region, identifying metal anomalies
associated with gold and copper mineralization on adjacent properties in the Abitibi where there is little to
no outcrop exposure (Wallbridge Resources, Gaillard, 2021; Midl and Exploration, St-Cyr, 2021; Probe
Gold News Release June 29, 2024).
Usha Resources contracted mineral exploration specialists SL Ex ploration to complete the fieldwork, and
the current program collected 710 black spruce bark samples on a grid designed to cover a 7.3 km trend of
the Bapst Fault (Fig. 2). SL Exploration is a Quebec-based cons ulting company that specializes in surface
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
geochemistry exploration techniques used to identify buried min eral deposits and has successfully
identified multiple soil discoveries in the James Bay and Abitibi regions.
Figure 2: Bedrock geology of the Southern Arm property and the location of black spruce bark samples collected in 2024. Bedrock
geology after SIGEOM, 2024.
“This work represents an important stage in Usha’s exploration strategy at the Southern Arm Property, and
we are thrilled to have the expe rience of the local geochemical experts at SL Exploration applied to our
program” stated CEO Deepak Varshney. He continued: “We eagerly await the results from this program
and plan to apply complimentary geophysical exploration techniq ues at our Hollywood target, to further
refine our drill targets in the subsurface. The results from th ese programs will ensure only the highest
priority targets are targeted with the diamond drill in our upcoming maiden drill program in the 2024-2025
winter season.
Qualified person
The technical content of this news release has been reviewed an d approved by Mr. James Macdonald,
P.Geo., a qualified person as defi ned by National Instrument 43 -101. Historical reports provided by the
optionors were reviewed by the qualified person. The informatio n provided has not been verified and is
being treated as historic non-compliant intercepts.
About Usha Resources Ltd.
Usha Resources Ltd. is a North American mineral acquisition and exploration compan y focused on the
development of quality critical metal properties that are drill -ready with high-upside and expansion
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
potential. Based in Vancouver, BC, Usha’s portfolio of strategi c properties provides target-rich
diversification and includes Southern Arm, a copper-gold VMS project in Quebec, Jackpot Lake, a lithium
brine project in Nevada and White Willow, a lithium pegmatite project in Ontario that is the flagship among
its growing portfolio of hard-rock lithium assets. Usha trades on the TSX Venture Exchange under the
symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under
the symbol JO0.
USHA RESOURCES LTD.
For more information, please call 778-899-1780, email [email protected] or visit
www.usharesources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release may include "forward-looking in formation" under applicable Canadian securities
legislation. Such forward-looking information re flects management's current beliefs and are based on a
number of estimates and/or assumptions made by and information currently available to the Company that,
while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that
may cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking information. Read ers are cautioned that such forwar d-looking information are neither
promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not
limited to, general business, economic, competitive, political and social uncertainties, uncertain and
volatile equity and capital markets, lack of availabl e capital, actual results of exploration activities,
environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays
in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company . Exploration is highly speculative in nature,
involves many risks, requires substantial expenditu res, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermo re, the Company currently has no reserves on any of its
properties. As a result, there can be no assurance that such forward-looking statements will prove to be
accurate, and actual results and fu ture events could differ materially from those anticipated in such
statements.
References
Gaillard, N. (2021) Assessment Report, Grasset Property, Biogeo chemistry, Summer 2021; Wallbridge
Mining, GM72469, 86pp.
St-Cyr, R. (2021) Black Spruce Bark Campaign Report – Adam Proj ect; Midland Exploration, GM72086,
166 pp.
Probe Gold (2024) Probe Metals And Midland Exploration Commence Drilling To Test New High Priority
Targets South Of Fenelon On The Detour Gaudet-Fenelon JV Projec t; Retrieved from <
https://probegold.com/news/probe-metals-and-midland-exploration-commence-drilling-to-test-new-high-
priority-targets-south-of-fenelon-on-the-detour-gaudet-fenelon-jv-project/ > on July, 29, 2024