Usha Resources Secures Drill Contractor for Lost Basin Gold-Copper Project
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News Release
Usha Resources Secures Drill Contractor for Lost Basin Gold-Copper Project
Vancouver, British Columbia / March 17, 2022 – Usha Resources Ltd. (“USHA” or the “Company”)
(TSXV: USHA) (OTCQB: USHAF) is pleased to announce that it has executed a drilling contract for its
upcoming maiden drill program at the Lost Basin Gold-Copper Project located in Mohave County, Arizona.
The Company intends on completing a reconnaissance visit by its personnel and the drilling contractor in
the coming weeks to review drill sites after which it will comm ence with the construction of access roads
and drill pads in preparation for drilling.
The Company has elected to proceed with diamond core drilling for its maiden program to better understand
the lithological and structural data at the Site. The Company p lans to drill 1,500 metres over two phases
with the results of the maiden program being used to delineate a larger follow-up drill campaign.
The first phase of the drilling program will be part of a large r work program that will include trenching,
soil sampling, chip sampling, and further prospecting that is anticipated to be completed over approximately
40 days.
The Company’s program will focus on the following key mineralized sections on the property:
Red Basin: Area where highly anomalous soil samples assayed as high as 11.1 g/t Au and historical
sampling has identified shallow intervals as high as 1.7 g/t Au over 26 metres.
Copper Blowout: A major feature on the property with several co pper showings assaying above
1% Cu and as high as 1.53% Cu over 2 metres in chip samples.
Mallory’s Trench: A historical trench where chip samples collected assayed gold values as high as
2.6 g/t Au over 2 metres.
Ideas Lode West: An exciting new prospect where the structure containing the gold-bearing quartz
veining extends for hundreds of metres and grab samples assayed as high as 45.4 g/t Au.
"Advancing the gold and copper stories at Lost Basin is a prima ry objective of ours as we move into 2022
and we are extremely excited to continue our exploration at the property," stated Deepak Varshney, CEO
of USHA. “The property is a uni que exploration and development opportunity in a top-tier mining
jurisdiction that has largely escaped systematic modern explora tion. Lost Basin offers a number of
compelling attributes that you like to see prior to drilling – favourable geology, strong assays from initial
sampling, and participation in what is becoming a very active e xploration camp. This program is going to
jumpstart what will be a very active year for us across a portf olio that includes copper, nickel, cobalt and
gold – it’s going to be a busy and exciting year!”
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Qualified Person
The technical content of this news release has been reviewed an d approved by Mr. Helgi Sigurgeirson,
P.Geo., a qualified person as defined by National Instrument 43 -101 Standards of Disclosure for Mineral
Projects (“NI 43-101”).
About Usha Resources Ltd.
Usha Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC,
Canada. Usha is exploring for commercially exploitable mineral deposits and is currently focused on
deposits located in Northwest Ontario, Canada and the Lost Basin Gold Mining District in Mohave County,
Arizona, U.S.A. Usha increases shareholder value through the ac quisition and exploration of quality
precious and base metal properties and the application of advan ced state-of-the-art exploration methods.
Usha's portfolio of strategic properties provides diversification and mitigates investment risk.
We seek Safe Harbor.
USHA RESOURCES LTD.
“Deepak Varshney” CEO and Director
For more information, please phon e James Berard, Investor Relat ions, 778-228-2314, 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.