Usha Resources Creates a Spinout Company Called Formation Metals Corporation

May 12, 2022

Usha Resources creates a spinout company called Formation Metals Corporation

As Usha embarks on 3 major catalysts; the spinout of Nicobat into Formation Metals, a drill program commencing shortly on Jackpot Lake, and a drill program commencing at the Lost Basin property where our next door neighbour has been hitting exceptional grades such as:

51.8m @ 1.4g/t Au from 13.7m
47.2m @ 1.0g/t Au from 73.2m
33.5m @ 2.6g/t Au from 97.5m including 4.6m @ 11.6g/t Au
30.5m @ 1.2g/t Au from 18.3m
25.9m @ 1.7g/t Au from 13.7m

We feel that now is the time to tell our story. We will be producing plenty of video content to keep our investors informed.

Kindly watch as our CEO, Deepak Varshney joins Steve Darling from Proactive to share the news that the company’s Board of Director has approved a spin-out transaction to create a wholly-owned subsidiary, Formation Metals Corporation.

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