Usha Resources Announces Induced Polarization Survey Ahead of Maiden Drill Program at the Southern Arm Copper-Gold VMS Property
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
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Usha Resources Announces Induced Polarization Survey Ahead of Maiden Drill Program
at the Southern Arm Copper-Gold VMS Property
Vancouver, British Columbia / November 20, , 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 fin alized its plans for an Induced Polarization
(IP) survey at its Southern Arm polymetallic VMS property (“Sou thern Arm” or the “Property”) in the
metal-rich northwest Abitibi subprovince of mining-friendly Que bec. 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:
Usha has retained Geophysique TMC to deploy the IP survey over the Hollywood trend of metal
anomalies within the Southern Arm claim block, which will allow Usha to identify chargeability
and resistivity anomalies associated with massive or disseminat ed sulphides down to a depth of
350+ m.
Field crews will deploy to site mid-November to begin the survey and the results of this 3D survey
will be interpreted alongside the results from the biogeochemic al survey announced August 1,
2024, and used to establish high priority targets for Usha’s pl anned maiden 3,000 metre 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 associ ated 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 TMC’s IP will allow Usha
to identify chargeability and resistivity contrasts associated with massive or disseminated sulphides down
to a depth of 350+ m. The results of this 3D survey will be used to establish high priority targets for Usha’s
planned 3,000 metre maiden drill program commencing winter 2024 - 2025. The IP survey is being ran in
conjunction with a surface biogeochemical sampling survey (see News Release dated November 14, 2024),
that will establish a geochemical baseline for future exploration.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Figure 2 – Area map showing local area geology overlain by the location of the IP survey.
Located in the prolific Abitibi greenstone belt, Southern Arm h osts an approximately 7.3-kilometre
conductive copper-gold trend along the regional-scale Bapst fault. The bedrock geology of the Property is
dominated by the volcanic rocks of the Brouillan-Fenelon group, which hosts the nearby Selbaie mine
(approximately 15 kilometres (km) southwest), which produced 53 million tonnes (Mt) at 0.96 per cent
copper (Cu), 1.9 per cent zinc (Zn), 0.58 grams per tonne (g/t) gold (Au), 40.7 g/t silver (Ag) and Abitibi's
B26 deposit (approximately 16 km southwest) which hosts an indi cated resource of 6.97 at 2.94 per cent
copper equivalent (CuEq; 1.32 per cent Cu, 1.80 per cent Zn, 0.60 g/t Au and 43 g/t Ag).
“We are excited to apply the experience of international geophy sical experts at Geophysique TMC to our
exploration program at the Southern Arm property” stated CEO Deepak Varshney.
He continued: “The lack of outcrop exposures and complex glacia l history in the northwest Abitibi make
exploration difficult, but we are confident that Usha is applyi ng the optimal techniques to this ground that
give us the best chance of turning historic indications into the Abitibi’s next major discovery.”
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.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
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
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