Usha Resources Commences Phase Three Program to Build on Ten Key Drill Targets Across 25 Kilometre Strike at the White Willow Lithium Pegmatite Project
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
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Usha Resources Commences Phase Three Program to Build on Ten Key Drill Targets
Across 25 Kilometre Strike at the White Willow Lithium Pegmatite Project
Highlights:
• The Company has completed 5 weeks of fieldwork, expanding the lithium-cesium-tantalum
(“LCT”) pegmatite trend on the property to a potential strike length of >25 km open at both ends.
Phase 3 will consist of two (2) teams deployed onsite for up to six (6) weeks to maximize the
mapping, sampling and prospecting that can be completed prior to initiating drilling.
• Assays from 618 samples have delineated 10 high -priority drill targets with potassium/rubidium
ratios (K/Rb) below 30. K/Rb is a key tool in identifying potentially spodumene -bearing dykes;
to-date; 10 pegmatites have been identified with K/Rb ratios <30 with a low of 7.5. Values below
30 are indicative of rare-earth pegmatites, 20 of spodumene-subtype pegmatitesi, and those below
10 are often associated with economic spodumene pegmatites.
• The Company intends o n drilling each of the 10 target pegmatites as part of its maiden drill
program.
• Highlight results include up to 0.5% Li2O (2,310 ppm), 1,833 ppm cesium, 120,000 ppm tantalum
and 3,540 ppm rubidium.
Vancouver, British Columbia / October 17, 2023 – Usha Resources Ltd. (“USHA” or the “Company”)
(TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration
company, is pleased to provide this update on its on -going field program at the White Willow Lithium
Pegmatite Project (“White Willow” or the “Project”) located 170 km west of Thunder Bay, Ontario.
The Company has completed 5 weeks of fieldwor k this season, with data compilation complete for 618
samples that have delineated 10 high-priority drill targets for its planned maiden drill program.
The focus of the third phase of fieldwork will be to complete a detailed follow -up of the targets at Bi ngo
and Maple Leaf and to further prospect and assess the ground between these two lithium -cesium-tantalum
(LCT) pegmatite swarms. Two (2) teams will be deployed onsite for up to six (6) weeks, one at each swarm,
to maximize the mapping, sampling and prospecting that can be completed prior to initiating drilling.
“We are thrilled with the findings from the initial programs at White Willow and are very excited to
continue to build on our success ,” said Deepak Varshney, CEO of Usha Resources. “As seen at Patriot
Battery Metals’ Corvette Project, which has over 20 kilometres of trend, lithium pegmatite swarms occur
in clusters, each of which has the potential to become a deposit. We now have 10 primary target areas across
our 25 kilometre plus trend that include two highly evolved LCT pegmatite swarms at Bingo and Maple
Leaf. With significant ground remaining between Bingo and Maple Leaf for further exploration and follow-
up, we intend on maximizing the remaining time in the field season before commencing preparations for
maiden winter drill program. The findings thus far strongly validate our belief that Willow is a flagship
asset where Ontario’s next major lithium discovery will occur.”
The Company is presently compiling the remainder of the assays collected from the earlier fieldwork and
will release them upon completion.
A key mineralogical finding to -date is the identification of holmquistite within the host rock at Bingo.
Holmquistite is a mineral alteration that typically occurs on the margins of lithium -rich pegmatites and
suggests that the dykes at Bingo have a strong potential to be spodumene-bearing.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Figure 1 - Top, aerial view of the Bingo Dyke where a potentially single large dyke over ~1.2 km in length is present if connected
under cover. Bottom left, tantalite crystal with a spessartine garnet inclusion. Bottom right, holmquistite alteration within the
country rock. The tantalite, spessartine garnet, and holmquistite indicate that the system is highly evolved and potentially
spodumene-bearing.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
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Assay highlights to-date include:
• Lithium oxide (Li2O) values up to 0.5%, with 76 samples containing very anomalous (>300 ppm)
concentrations of lithium, including 14 above >1,000 ppm with a sample of the host rock which
assayed 1,300 ppm indicating significant lithium-rich fluids are present within the system.
• Cesium (Cs) values up to 1,730 ppm, with 71 samples containing very anomalous (>100 p pm)
concentrations including 10 which are >500 ppm, indicating the samples are being collected from
the outer zone of a fertile LCT system, which is where spodumene, if present, will be identified.
• Tantalum (ta) values up to 120,000 ppm Ta, with 82 samples containing very anomalous (>30 ppm)
concentrations including 35 which are >60 ppm, indicative of the presence of a spodumene-bearing
pegmatite.
Of note, a high-grade showing of 14.64% Ta2O5 is present at the Maple Leaf Dyke; coarse-grained
tantalite is o nly known to be found at one other locality in Ontario which is the North Aubrey
pegmatite at Green Technology Metals (GT1) Seymour Lake Project where GT1 has identified a
9.9 Mt resource at 1.04% Li2O.
• Rubidium values of up to 3,540 ppm, with 94 samples containing very anomalous (>1,000 ppm)
concentrations including 24 >2,000 ppm.
• Geochemical assessment also indicates the strong potential for spodumene -bearing dykes to be
present at the property. Per Selway et al., potassium/rubidium ratios (K/Rb), are a k ey tool in
identifying these types of dykes; K/Rb ratios of <30 are indicative of rare-earth pegmatites and <20
of spodumene-subtype pegmatites. To -date, 10 pegmatites have been identified with K/Rb ratios
<30 with a low of 7.5. Values below 10 are often associated with economic spodumene pegmatites.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Figure 2 - Bubble plot of K/Rb ratios for the White Willow project. The Maple Leaf and Bingo Pegmatite Dike Swarms contain
highly evolved LCT-pegmatites with excellent geochemical (low K/Rb and Nb/Ta ratios) and mineralogical (spessartine garnets,
blue-green apatite, lithium amphiboles) indicators to be potentially spodumene bearing.
Quality Assurance/Quality Control
All collected rock samples were put in sturdy plastic bags, tagged, and sealed at site. Samp le bags were
then put in rice bags and kept securely before being sent by road transport or delivered by the crew
supervisor to either AGAT Laboratories Ltd. or Activation Laboratories in Thunder Bay, Ontario. All
samples are analyzed with Four -Acid Digest ion/Combined ICP -AES/MS package (49 elements). The
QA/QC protocol included the insertion and monitoring of appropriate reference materials, in this case high
concentration and low concentration certified OREAS and CDN lithium standards to validate the accuracy
and precision of the assay results.
Qualified person
The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo.,
a qualified person as defined by National Instrument 43-101.
About Usha Resources Ltd.
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the
development of quality lithium metal properties that are drill -ready with high -upside and expansion
potential. Based in Vancouver, BC, Usha’s portfolio of st rategic properties provides target -rich
diversification and includes 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.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
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 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, econ omic, competitive, 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 substa ntial expenditures, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermore, 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 future events could differ materially from those anticipated in such
statements.
i Selway, J. et al. 20 05. A Review of Rare -Element (Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior
Province, Canada, and Large Worldwide Tantalum Deposits. Exploration and Mining Geology, Vol. 14, Nos. 1-4, pp.
1-30.