Usha Resources Unveils Ambitious Drilling Plans Eric Norris, President of Albemarle Corporation's lithium business unit, predicts that by 2030, nearly all lithium sales will be for electric vehicle (EV) batteries. He anticipates a more than twofold increase in global lithium demand from 2025 to 2030, with EV battery demand being a significant driver, up from just 20% of global demand a decade ago.
Source: https://www.theglobeandmail.com/investing/markets/stocks/ALB/pressreleases/20505526/
Usha Resources (USHA.v USHAF) is strategically positioned to help meet this anticipated surge in lithium demand.
The company holds two key projects: the Jackpot Lake project in Nevada, located near the only active lithium operation in the United States, and the White Willow project in Ontario, in proximity to several other lithium discoveries.
At the White Willow project, Usha Resources recently made a significant lithium-cesium-tantalum (LCT) mineralization discovery spanning over 25 kilometers, with ongoing potential at both ends of the deposit.
After conducting five weeks of on-site work, the company collected data from 618 samples, which produced positive assay results, highlighting elevated levels of lithium oxide, cesium, tantalum, and rubidium. The presence of a high-grade tantalum deposit is particularly noteworthy, and geochemical assessments suggest the potential for spodumene-bearing zones in the area.
In response to these findings, Usha Resources has outlined plans to commence their inaugural drilling program in the first quarter of 2024, with a specific focus on 10 identified pegmatites.
Prior to this drilling program, the company intends to return to the site in October for further prospecting and mapping activities, followed by geophysical surveys.
More info here: https://usharesources.com/usha-resources-identifies-ten-key-drill-targets-across-25-kilometre-strike-at-the-white-willow-lithium-pegmatite-project/
Posted on behalf of Usha Resources Ltd.