Usha Resources Announces Initiation of Induced Polarization Survey at the Drill Ready Southern Arm Copper-Gold VMS Property in Quebec

December 4, 2024

Usha Resources Ltd., a North American mineral acquisition and exploration company, announced that it has started fieldwork on a new survey at its Southern Arm property in Quebec. This survey will help locate the best areas to drill for copper and other valuable metals in one of the most mineral-rich regions of the province. Usha has an agreement to fully acquire the Southern Arm property within the next two years.

Val d’Or-based contractor Geophysique TMC is running the survey, focusing on an area called the Hollywood trend, which shows signs of metal deposits. The survey results will help Usha identify the best spots to drill as it prepares for its first drilling program set for the winter of 2024-2025.

“This work represents an important stage in Usha’s exploration strategy at the Southern Arm Property, and we are thrilled to have the experience of the local experts at Geophysique TMC applied to our program,” said Deepak Varshney, CEO of USHA. “We eagerly await the results from this program and plan to apply the results of the complimentary geochemical exploration program at our Hollywood target to further refine our drill targets in the subsurface. The results from these programs will ensure only the highest priority targets are targeted with the diamond drill in our upcoming maiden drill program in the 2024-2025 winter season. With negotiations for the Jackpot Lake transaction continuing, our focus in the field will remain on Southern Arm. Additionally, we have been evaluating additional opportunities to acquire copper and/or gold projects to create further shareholder value in a similar fashion. We look forward to providing shareholders updates as our strategy progresses.”

Now, Usha is using advanced technology, called an Induced Polarization (IP) survey, to map the underground area up to 350 meters deep. This survey will help pinpoint the best spots for drilling by identifying areas likely to contain copper and other valuable metals. Usha plans to start a 3,000-meter drilling program this winter. Alongside the IP survey, the company is also collecting surface samples to create a baseline for future exploration.

The Southern Arm property is located in Quebec’s Abitibi Greenstone Belt, one of the world’s most mineral-rich regions, known for hosting major deposits of copper, gold, and other metals. The property features a 7.3-kilometer conductive copper-gold trend along the Bapst Fault, a key geological structure running through volcanic rock formations that often hold valuable minerals. Historical drilling in the area revealed signs of copper and other metals, but further exploration was limited due to thick soil cover. The property is also near significant deposits like the historic Selbaie mine, which produced 53 million tonnes of copper, zinc, gold, and silver, and the B26 deposit, with an indicated resource of 11.32 million tonnes of copper and gold.

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