Usha Resources Ltd (TSX-V:USHA) said it has received a letter of approval under a Notice of Intent (NOI) from the United States Bureau of Land Management (BLM) for its near-term drill program at the Jackpot Lake Lithium Brine Project.
The NOI covers a six-hole, 2,700-metre program with a maximum depth of approximately 600 metres (m) and focuses on the most prospective lithium brine targets as defined by geophysical work, in addition to drill road access and site preparation, the Vancouver-based explorer said.
“USHA is very excited to have begun our journey at Jackpot Lake and capitalize on our geographical advantage on US soil,” Usha Resources CEO Deepak Varshney said in a statement.
READ: Usha Resources begins exploration work on Jackpot Lake lithium project; aims to commence drilling in late summer/early fall
“We believe that this project is part of the journey we will need to take in North America to secure a domestic supply of lithium and commencing exploratory drilling is the next step in achieving our company goal to become a top-tier North American lithium producer,” he added.
Usha said it is in the final stages of preparations to commence the maiden drill program this fall with the aim of defining a NI 43-101 resource. A $45,985 bond has now been submitted to the BLM to cover reclamation of up to 1.27 acres of permitted disturbance.
Further updates will be provided in the coming weeks as the project moves towards mobilization, the company said.
“With a well-funded treasury, we anticipate the remainder of 2022 to be an extremely active year and we look forward to a busy and productive field season at Jackpot Lake as we also proceed with our other catalysts including the Nicobat Nickel spinout,” added CEO Varshney.
The Jackpot Lake Lithium Brine Property is located within Clark County, 35 kilometres northeast of Las Vegas, Nevada, and is comprised of 140 mineral claims that total 2,800 acres. The project is exploring a “playa” which appears to be within a closed basin that may contain potentially lithium-rich brines.
The geologic model is similar to that of Albemarle’s Silver Peak Nevada Lithium Mine, which has operated continuously since 1966, where sediments from lithium-rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events.
Usha’s current and ongoing program at Jackpot Lake is operated by Rangefront Mining Service, a local Nevada firm with personnel that specialize in the planning and execution of lithium brine exploration, including resource estimation.
Drill-ready
The project is considered to be 'drill-ready' based on the following work, which has successfully delineated a 5 times 2 kilometre anomaly within a closed basin that suggests the presence of a highly concentrated brine:
- 129 core samples collected by the United States Geological Survey, with an average lithium value of 175 parts per million (ppm) with a high of 550 ppm and spectrographic and atomic-absorption analyses of 135 stream sediment samples confirming the potential for lithium mineral deposits.
- Gravitational surveying which has identified a closed basin, critical for ensuring brines remain within the basin without dilution from external water sources.
- Geophysical modelling based upon gravitational and Controlled Source Audio Magnetotellurics/magnetotellurics (CSAMT/MT) surveys has provided evidence of highly concentrated brines, which are relatively near the surface. The CSAMT survey results demonstrate a large consistent body of very low resistivity – consistent with highly concentrated brine behavior – predominantly above bedrock depths of 625 meters throughout the property.
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. Its portfolio of strategic properties provides target-rich diversification and consist of Jackpot Lake in Nevada; Nicobat, a nickel‑copper‑cobalt project in Ontario; and Lost Basin, a gold-copper project in Arizona.
Contact the author at jon.hopkins@proactiveinvestors.com