Usha Resources Ltd. V.USHA

USHA commences Phase 3 at White Willow

[MarketMakerss]

Increasingly moving toward lithium-ion-backed battery technology, the automobile industry is experiencing a shift toward EVs as demand increases. The latest report from Fortune Business Insights projects the Global Lithium market size to grow to $516.22M by 2028.

Further demonstrating the significance of this market, Tesla is planning on introducing a next-generation EV battery alongside implementing a high-speed, heavily automated battery manufacturing process to increase mass production and reduce labour costs. (Source: https://www.prnewswire.co.uk/news-releases/increasing-demand-for-evs--shift-toward-clean-energy-driving-lithium-billion-dollar-market-growth-301958667.html)

One active mining company in the market is Usha Resources (USHA.v USHAF) which just announced the commencement of a Phase Three Program to build on 10 key drill targets across a 25 km strike at its White Willow Lithium Pegmatite Project.

This news follows the completion of 5 weeks of fieldwork which expanded the lithium-cesium-tantalum (LCT) pegmatite trend to a potential strike length over 25 kilometres, open at both ends, and identified the 10 key drill targets.

Notably, assays from 618 samples have delineated 10 high-priority drill targets with a range of lithium pegmatite clusters identified that are similar to those found by Patriot Battery Metals' (PMET.v PMETF, 1.68B Market Cap).

Phase 3 will consist of two teams deployed onsite for up to 6 weeks of mapping, sampling and prospecting to be completed prior to initiating drilling, as well as the drilling of each of the 10 target pegmatites as part of its maiden drill program.

Spanning 15,680 hectares near Thunder Bay, White Willow is an underexplored project with over 75 outcropping white pegmatites and two highly evolved LCT-pegmatite dikes. Highlight results include up to 0.5% Li2O (2,310 ppm), 1,833 ppm cesium, 120,000 ppm tantalum and 3,540 ppm rubidium.

USHA CEO Deepak Varshney, commented:

"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.:

Full News Release: https://www.prnewswire.co.uk/news-releases/usha-resources-commences-phase-three-program-to-build-on-ten-key-drill-targets-across-25-kilometre-strike-at-the-white-willow-lithium-pegmatite-project-301958055.html

Posted on behalf of Usha Resources Ltd.