With the growing threat of major lithium shortages looming, many investors are looking for high potential lithium juniors that are poised to benefit from future lithium shortages. Exemplifying this high interest in the lithium sector, Usha Resources (USHA.v USHAF) closed up 13% on the TSXV today with over 5x its average volume after recently announcing that it is becoming a pure-play lithium explorer.
Last week, USHA shared that following a review of its portfolio, it has decided to not proceed with the Lost Basin Copper-Gold Project so it can better focus on its growing portfolio of lithium projects.
USHA's projects include the White Willow project in Ontario and the Jackpot Lake project in Nevada which is close to the only producing lithium operation in the US. At White Willow, USHA recently discovered lithium-cesium-tantalum (LCT) mineralization with a potential strike length of greater than 25 km that is open at both ends.
Doubling down on its lithium exploration efforts USHA also announced that it has started negotiations to acquire assets in the Frazer Lake Camp. Notably, a significant lithium discovery which included a spodumene-rich dyke that graded an average of 6.82% Li2O within a 9 km trend was found in this area.
USHA is currently in advanced phases of negotiations for projects near and neighboring the project where the discovery was made. Additional updates will be shared as these negotiations advance.
Full Press Release:https://usharesources.com/usha-resources-announces-transition-to-pure-play-lithium-explorer-streamlining-of-portfolio/ Posted on behalf of Usha Resources Ltd.