Usha Resources Commences Phase Four Program at the White Willow Lithium Pegmatite Project - Seite 2

Foto: Accesswire

Figure 1 - Property map of the White Willow property and extent of the pegmatite swarm.

Fieldwork will focus across the 27 km strike length of fractionated pegmatites, particularly at Bingo, where preliminary results have returned some of the most evolved chemical signatures on the property of K/Rb~20; Nb/Ta <1; 4,100ppm Rb; and 954 ppm Cs, and Maple Leaf, where samples have assayed 14.64% Ta₂O₅ and very coarse tantalite mineralization is present that is similar to the North Aubrey pegmatite at Green Technology Metals (GT1) Seymour Lake Project where GT1 has identified a 9.9 Mt resource at 1.04% Li2O.

Detailed sampling and hand stripping have successfully identified beryl and Nb-Ta oxides at these targets and fractionation indicators suggest the dykes have reached spodumene-type degrees of fractionation. Preliminary results show lithium (Li), cesium (Cs), and rubidium (Rb) elevations in the metasedimentary host rocks around the beryl-type pegmatites with up to 450 ppm Li were returned in the metasedimentary rocks adjacent to the largest of the beryl-type dykes.

Lithogeochemical sampling of pegmatite host rocks is one of the most common techniques to test for buried spodumene mineralization. Pegmatites leave a recognizable chemical halo in the surrounding country rocks, and this halo is reflective of the chemistry of the pegmatite. By sampling the country rocks in a systematic grid, Usha plans to identify the areas of the Bingo and Maple Leaf pegmatite swarms that have the highest chance of hosting spodumene. The preliminary results have returned up to 450 ppm Li along the margins of beryl- and tantalum-bearing pegmatites, suggesting that the evolved pegmatites are part of a lithium enriched system.

Property Transaction

The Company is also pleased to announce that it has entered into two separate option agreements with arm's-length parties ("Option #1 and Option #2", collectively, the "Options") to acquire a 100% interest in certain 107 mineral claims (the "Claims") adjacent to its priority "Bingo" LCT-pegmatite swarm. There is no net-smelter returns royalty (the "NSR") on the claims.

The Company will issue 12,000,000 common shares to the Vendors of Option #1 and 3,000,000 common shares to the Vendors of Option #2 within five days of receipt of approval from the TSX Venture Exchange.

The transactions contemplated, including the issuance of the Shares, are subject to the final approval of the Exchange. The Shares will be subject to the applicable hold periods in accordance with securities laws in Canada and the Exchange policies.