Usha Resources Announces Commencement of Drilling at the Nicobat Nickel-Copper-PGE Project

Oct 14, 2020

2020-10-14 10:41 ET – News Release

Mr. Deepak Varshney reports

USHA RESOURCES ANNOUNCES COMMENCEMENT OF DRILLING AT THE NICOBAT NICKEL-COPPER-PGE PROJECT

Usha Resources Ltd. has begun its fully financed drilling program at its Nicobat nickel-copper-platinum group element project located in Dobie township, Northwestern Ontario, with Asinike Drilling of Naotkamegwanning First Nation as the drilling contractor. The Property lies 21 kilometres south of New Golds’ Rainy River Mine in the Rainy River Greenstone Belt that forms the southern part of the Wabigoon Subprovince.

The Property covers a lobate arm along the southwest margin of the differentiated Dobie Intrusive complex. The complex hosts a number of sulphide zones with the Nico 1 Showing CulambdaNi mineralization the target of the current work program.

Previous drilling has identified a number of ‘high grade shoots’ within a large body of disseminated sulphides. Historical drill hole A҂04҅15 intersected from the surface to 63.75 meters averaging of 1.05% nickel and 2.18% copper (note that the true width of Aԅ04Ԉ15 is materially narrower than the drill hole intersection).

The initial phase of the exploration program in October will be approximately 6 drill holes totalling an estimated 1,400 m. The drill holes are targeting below the positive results from A؄04؇15 and will further define the near-surface geometry of the plunging high-grade mineralization and test for its continuation.

Deepak Varshney, Usha’s CEO stated, “We are very excited to be able to launch our maiden drill program at the Nicobat Project. We believe the previous drilling was just scratching the surface in terms of the potential and this upcoming drill program is the first step in realizing the Nicobat Project’s true potential.

We are very fortunate that Andrew Tims will be helming this project for us.

As an exploration geologist with over 30 years of experience, including significant time in the Kirkland Lake-Timmins and Red Lake gold camps plus the Wabigoon area of Northwest Ontario where Usha Resources’ Nicobat Project is located, Andrew knows what it takes to lead a successful exploration project.

He is a world-class geologist with proven success in the area – there is a reason why he has been part of successful teams at Cyprus Canada, Hemlo Gold Mines, and Rainy River Resources – and we could not think of a better fit to be leading this project for us.”

Qualified person

The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

About Usha Resources Ltd.

Usha Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada. Usha is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Northwest Ontario, Canada and the Lost Basin Gold Mining District in Mohave County, Arizona, U.S.A.

We seek Safe Harbor.

https://www.usharesources.com/