As argued in the article below, despite recent volatility in the lithium sector, the long-term outlook for lithium remains positive. The current dip in lithium prices is attributed to cyclical factors, particularly concerns about China's electric vehicle (EV) market and potential oversupply due to new projects. However, the structural drivers for lithium, driven by the transition to EVs, are intact.
In spite of fears of oversupply, overall supply may struggle to keep up with growing demand for lithium over the next decade due to factors like supply delays, labor shortages, and industry immaturity.
https://www.livewiremarkets.com/wires/lithium-is-a-fully-charged-opportunity
To address this anticipated future shortage in supply, Usha Resources Ltd (Ticker: USHA.v or USHAF for US investors) is dedicated to the advancement of battery metal properties of exceptional quality, primed for drilling and offering substantial upside and expansion opportunities.
Their first project is known as the White Willow project, situated in Ontario, while the second is the strategically positioned Jackpot Lake project located in Nevada.
USHA has also commenced discussions for the potential acquisition of assets in the Frazer Lake Camp area. This area recently saw a substantial lithium discovery, featuring a spodumene-rich dike with an impressive average grade of 6.82% Li2O along a 9 km trend. USHA is currently in the advanced phases of negotiations concerning projects in close proximity to this discovery.
At its White Willow project, USHA has made a notable discovery of lithium-cesium-tantalum (LCT) mineralization. This discovery boasts a potential strike length of over 25 kilometers, which remains open at both ends. Furthermore, USHA has identified ten key drilling targets along this extensive strike.
Additionally, USHA has initiated drilling operations and is in the process of developing the 43-101 resource estimate for the Jackpot Lake project. This drilling initiative aims to build upon initial findings that indicate geological similarities between Jackpot Lake and Clayton Valley, the location of Albemarle's Silver Peak Nevada Lithium Mine, the sole lithium mine in North America.
More info here: https://usharesources.com/usha-resources-begins-drilling-and-43-101-resource-estimation-at-the-jackpot-lake-lithium-brine-project/
Posted on behalf of Usha Resources Ltd.