Usha Resources Announces Initiation of Induced Polarization Survey at the Drill Ready Southern Arm Copper-Gold VMS Property
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Usha Resources Announces Initiation of Induced Polarization Survey at the Drill Ready
Southern Arm Copper-Gold VMS Property
Vancouver, British Columbia / December 4,, 2024 – Usha Resources Ltd. (“USHA” or the
“Company”) (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0) , a North American mineral acquisition
and exploration company, is pleased to announce that fieldwork has commenced for an Induced Polarization
(IP) survey at its Southern Arm polymetallic VMS property (“Southern Arm” or the “Property”) in the
metal-rich northwest Abitibi subprovince of mining-friendly Quebec (first announced by the Company on
November 20, 2024). 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).
Val d’Or based geophysical contractor Geophysique TMC is conducting the IP survey, which will be
focused on the Hollywood trend of metal anomalies (Fig. 1), and the results from the IP survey will be used
to help refine diamond drill targets for the Company’s upcoming maiden drill program, which is planned
for the 2024-2025 winter season.
CEO Deepak Varshney stated: “This work represents an important stage in Usha's exploration strategy at
the Southern Arm Property, and we are thrilled to have the experience of the local experts at Geophysique
TMC applied to our program. We eagerly await the results from this program and plan to apply the results
of the complimentary geochemical exploration program at our Hollywood target to further refine our drill
targets in the subsurface. The results from these 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.”
He continued: “With negotiations for the Jackpot Lake transaction continuing, our focus in the field will
remain on Southern Arm. Additionally, we have been evaluating additional opportunities to acquire copper
and/or gold projects to create further shareholder value in a similar fashion. We look forward to providing
shareholders updates as our strategy progresses.”.
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Figure 1 - Bedrock geology and regional mineral occurrences associated with the synvolcanic Brouillan Complex, Geology after
SIGEOM, 2024.
In the northwest Abitibi subprovince, mineral occurrences are associated 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 spa rse historic drill logs 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, however 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 etres. 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.
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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 hosts 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 Abitib i
Metals's B26 deposit (approximately 16 km southwest) which hosts an indicated resource of 11.32 Mt at
2.13 per cent copper equivalent (CuEq; 1.23 per cent Cu, 1.27 per cent Zn, 0.46 g/t Au and 31.9 g/t Ag).
Qualified person
The technical content of this news release has been reviewed and approved by Mr. James Macdonald,
P.Geo., a qualified person as defined by National Instrument 43 -101. Historical reports provided by the
optionors were reviewed by the qualified person. The information 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 company 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 strategic 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
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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 information" under applicable Canadian securities
legislation. Such forward -looking information reflects 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. Readers are cautioned that such forward -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, comp etitive, political and social uncertainties, uncertain and
volatile equity and capital markets, lack of available 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 expenditures, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermore, t he 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 future events could differ materially from those anticipated in suc h
statements.