{kanada_flagge}Lithium explorer Usha Resources Ltd (TSXV: USHA; OTCQB: USHAF; FRA: JO0) is selectively expanding its project portfolio. In addition to the Jackpot Lake lithium brine project in Nevada, the company has now acquired its first hard rock lithium project in Ontario. Usha is acquiring the 15,510-hectare White Willow lithium-tantalum property 170 kilometers west of Thunder Bay (Figure 1). Nearby are well-known lithium projects including the Seymour Lake lithium project, the Georgia Lake pegmatite field, and the Separation Rapids lithium deposit. The property is located just off Highway 11 and there are logging roads throughout. A main power line runs through the property. White Willow is east of GT1’s Wisa Lake lithium project, where GT1 is developing an exploration target of 8 to 10 Mt at 0.8-1.5% Li2O. Grab samples at Wisa Lake have returned over 1% Li2O and up to 6.38% Li2O.
{kanada_flagge}Lithium explorer Usha Resources Ltd (TSXV: USHA; OTCQB: USHAF; FRA: JO0) is selectively expanding its project portfolio. In addition to the Jackpot Lake lithium brine project in Nevada, the company has now acquired its first hard rock lithium project in Ontario. Usha is acquiring the 15,510-hectare White Willow lithium-tantalum property 170 kilometers west of Thunder Bay (Figure 1). Nearby are well-known lithium projects including the Seymour Lake lithium project, the Georgia Lake pegmatite field, and the Separation Rapids lithium deposit. The property is located just off Highway 11 and there are logging roads throughout. A main power line runs through the property. White Willow is east of GT1’s Wisa Lake lithium project, where GT1 is developing an exploration target of 8 to 10 Mt at 0.8-1.5% Li2O. Grab samples at Wisa Lake have returned over 1% Li2O and up to 6.38% Li2O.
Under the terms of the option, Usha can earn a 100% interest in the property over a three-year period if a total of CAD 220,000 and 3.6 million common shares are paid in increments.
Deepak Varshney, CEO of Usha Resources commented, “This acquisition promises to position the Company at the forefront of the upcoming lithium market and offers significant growth opportunities. Many companies have recently staked properties in Ontario and Quebec based on geological mapping, but the White Willow property not only has a significant number of mapped pegmatites, but also a confirmed advanced LCT system with high grade tantalum that has very high potential for high grade lithium bearing pegmatites. We are very pleased to have been able to assemble this highly prospective land package at low cost.”
75 white pegmatites with coarse-grained tantalite identified
Limited surveys have identified over 75 white pegmatites, almost all of which have not yet been sampled. Indicator minerals such as red and orange garnets, green apatite and beryl were noted over a strike length of 8 kilometers. The property is shown to host an extensive lithium cesium tantalum (“LCT”) system with two highly developed LCT pegmatite dykes, one of which has Maple Leaf Showing (Figure 2). The LCT pegmatite dike that hosts the Maple Leaf Showing appears to be at least 50 meters wide and outcrops along strike for approximately 350 meters. These dikes have been the focus of limited exploration work to date, with samples in and around the dikes returning up to 0.5% Li2O and 14.64% Ta2O5.
In addition to the 14.64% Ta2O5 tantalite occurrence, very coarse mineralization is present in its vicinity, including up to 100 cm feldspar crystals, 11 cm beryl crystals, and the coarse-grained tantalite at MLS (Figure 2). Coarse-grained tantalite is known from only one other location in Ontario, the North Aubrey pegmatite at Green Technology Metals’ (GT1) Seymour Lake project, where GT1 has identified a resource of 9.9 Mt at 1.04% Li2O.
In addition to the above, limited surface sampling has revealed highly anomalous lithium values in numerous samples over 300 ppm, with several samples returning over 0.40% Li2O. Similarly anomalous tantalum and cesium values are present throughout the property, with two other occurrences showing 3.41% and 3.78% Ta2O5. The high grade tantalite along with the highly anomalous lithium suggests that higher grade lithium may occur on the property in adjacent zones within the LCT system.
LCT pegmatites are the last crystallizing constituents of granitic melts; a halo of pegmatites surrounds the granite, and these pegmatites show increasing fractionation and complexity the further they are from the granitic source. The presence of beryl, tantalum and cesium indicates that the White Willow pegmatites are highly fractionated and very prospective for the presence of lithium, as this zone is the outer zone farthest from the granitic source.
Figure 1:- Regional map showing the location of Usha’s White Willow project relative to other significant projects in the region.
Figure 2: Near the Maple Leaf occurrence, mineralization is particularly coarse grained including feldspar crystals up to 100 cm in size and 11 cm beryl crystals (left). These minerals indicate granitic melting and fractionation essential for the deposition of lithified pegmatite. Coarse-grained tantalite is known from only one other location in Ontario, the North Aubrey pegmatite at Green Technology Metals’ (GT1) Seymour Lake project, where GT1 has identified a resource of 9.9 Mt at 1.04% Li2O.
Bottom line: as of now, lithium explorer Usha is on a two-pronged approach. In addition to the promising Jackpot Lake lithium brine project, the company is very selectively adding excellent hard rock projects to its portfolio. The purchase price is very reasonable compared to other transactions in the sector. Furthermore, the seller has accepted a good part of the payment in the form of Usha shares – apparently the seller is betting on a good share performance in case of a discovery. In addition, he will be on board when Usha presents its first ressouce for Jackpot Lake in the near future. After the recent capital increase, Usha is well prepared for the upcoming exploration season.
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