Usha resumes exploration program at Lost Basin

Nov 18, 2021

2021-11-18 11:01 ET – News Release

Mr. Deepak Varshney reports

USHA RESOURCES TO RESUME EXPLORATION AT LOST BASIN GOLD-COPPER PROJECT

Usha Resources Ltd. has resumed exploration planning for its Lost Basin gold-copper project located in Mohave County, Arizona.

The company is in receipt of a notice of exploratory trenching that permits the excavation of 10 trenches with an average width of three metres and depth of two metres for approximately 1,420 metres in total. Based on assessment work completed since receipt of the notice, however, the company has determined that the next phase of work should include a core drilling program to further develop Usha’s understanding of the nature of the gold-copper mineralization at Lost Basin as part of a larger follow-up core drilling program later in 2022.

The company’s program will focus on key mineralized sections on the property where Usha’s spring fieldwork identified the following:

Red basin: Highly anomalous soil samples were identified with 10 samples assaying over 0.2 gram per tonne gold and as high as 11.134 g/t Au;
Copper Blowout: four chip samples assayed above 1 per cent copper and as high as 1.53 per cent Cu over two m;
Mallory’s trench: Chip samples yielded gold values as high as 2.6 g/t Au over two m;
Ideas Lode West: An exciting new prospect where the structure containing the gold-bearing quartz veining extends for hundreds of metres and grab samples assayed as high as 45.4 g/t Au.

“Advancing the gold and copper stories at Lost Basin is a primary objective of ours as we move into 2022 and we are extremely excited to continue our exploration at the property,” stated Deepak Varshney, chief executive officer of Usha. “We look forward to continuing to build on the results of our Spring program as we continue to develop the Lost Basin asset.”

Qualified person

The technical content of this news release has been reviewed and approved by Helgi Sigurgeirson, PGeo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Usha Resources Ltd.

Usha Resources is a Canadian mineral acquisition and exploration company based in Vancouver, B.C., 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. Usha increases shareholder value through the acquisition and exploration of quality precious and base metal properties and the application of advanced state-of-the-art exploration methods. Usha’s portfolio of strategic properties provides diversification and mitigates investment risk.

We seek Safe Harbor.

https://www.usharesources.com/