Usha Resources Ltd (TSX-V:USHA) said it has now commenced drilling its second hole, JP22-2, at the Jackpot Lake Lithium Brine Property located in Clark County, Nevada, having successfully completed drill hole JP22-1.
Hole JP22-2, some 2.75 kilometres north-northwest of JP22-1, will target the 'north lobe' of the Dry Lake Basin along Line 5 of the controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) survey, the Vancouver-based company said.
"We continue to be exceptionally pleased with the findings of the program so far. Completing the first hole was a milestone for the development of Jackpot Lake and we look forward to now proceeding with JP22-2 and the rest of the program as we move closer toward our goal of defining a 43-101 resource,” Deepak Varshney, CEO of Usha Resources, said in a statement.
READ: Usha Resources completes first scoping drill hole at its Jackpot Lake project and confirms lithium-bearing brine potential
The target depth for JP22-2 will be bedrock to a maximum of 610 metres with a goal of further examining and corroborating the basin geometry with a specific focus on higher porosity zones comprised of sand and conglomerate that should contain the greatest porosity within the basin aquifer and serve as a pumpable zone into which the fluids above can drain.
The first hole of the drill program, JP22-1, was completed to a total depth of 1,723 feet or 525 metres below grade along Line 2 of the CSAMT survey confirming:
- Support for a similar geologic setting to that of Clayton Valley, hosting Albemarle’s Silver Peak, Nevada Lithium Mine, the only producing lithium mine in North America.
- Lithium is present in JP22-1 at a grade of up to 300 ppm (parts per million) within ten samples collected from shallow surface soils (less than 442 feet). The project target was originally identified based on historical geophysical studies and 129 core samples collected by the USGS with an average lithium value of 175 ppm.
- Evaporitic crystallization, indicative of a brine-forming environment, extended to the top of the basal conglomerate, with interbedding, veining and inclusions increasing significantly beginning at a depth of 1,250 feet (381 metres). Interbedded zones included up to 90% evaporites.
- A higher porosity zone comprised of sand and conglomerate with evaporite crystallization was identified beginning at 1,629 feet that continued on to the bottom of the hole at 1,723 feet or 525 metres. Reaching this sand conglomerate zone was a high priority for the program as it should contain the greatest porosity within the basin aquifer and serve as a pumpable zone into which the fluids above can drain. As per the Preliminary Economic Assessment (PEA) completed by Pure Energy Minerals for their Clayton Valley project, their sand and conglomerate zone was identified to contain a large volume of brine with superior grades.
- Static water was present at approximately 146 feet. The total water column at the project is anticipated to be greater than 1,577 feet or 481 metres.
Usha’s Jackpot Lake Lithium Brine Property is located within Clark County, 35 kilometres northeast of Las Vegas, Nevada, comprising 140 mineral claims that total 2,800 acres.
Usha Resources is a North American mineral acquisition and exploration company focused on the development of quality battery and precious metal properties that are drill-ready with high-upside and expansion potential.
Contact the author at jon.hopkins@proactiveinvestors.com