Welcome to our dedicated page for Usha Resources news (Ticker: USHAF), a resource for investors and traders seeking the latest updates and insights on Usha Resources stock.
Usha Resources Ltd. (OTCQB: USHAF) generates news primarily through updates on its North American mineral exploration portfolio, financings and corporate developments. As an exploration-stage company focused on critical metals, its disclosures often centre on technical milestones at its copper-gold and lithium projects and on transactions affecting its property interests.
Recent news releases emphasize work at the Southern Arm copper-gold VMS property in Quebec, where Usha has entered into an option agreement to earn a 100% interest. The company has reported the start and completion of Phase 1 field programs, including a black spruce bark biogeochemical survey and the initiation of an induced polarization geophysical survey along a 7.3 kilometre conductive trend on the Bapst fault. These updates describe how sampling and geophysics are being used to define high-priority drill targets for a planned maiden drill program.
Usha’s news flow also covers its lithium-focused assets. At the White Willow lithium pegmatite project in Ontario, the company has announced the identification of spodumene at the Maple Leaf pegmatite and has discussed the project as its flagship hard-rock lithium asset. Additional releases describe option agreements to potentially divest certain Ontario lithium pegmatite projects to Molten Metals Corp., as part of a stated effort to streamline its portfolio and focus on core assets.
At the corporate level, Usha issues news on non-brokered private placements, including flow-through share financings and unsecured convertible debentures, and on board changes such as the resignation of a co-founding director who continues in an advisory capacity. Investors following USHAF news can expect updates on exploration results and surveys, option and transaction terms for its projects, and financing activities that support ongoing field work.
Usha Resources Ltd. has launched a new YouTube channel to enhance shareholder engagement during its 2022 exploration program. The company aims to provide regular updates on exploration activities, management interviews, and community events through its social media platforms, including Facebook, Twitter, and LinkedIn. Usha is focused on acquiring and exploring mineral deposits in Northwest Ontario and Mohave County, Arizona. The company emphasizes its commitment to increasing shareholder value through strategic property acquisitions and advanced exploration methods.
Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has successfully raised $890,300.40 through the initial tranche of a non-brokered private placement. The company is restarting exploration for its Lost Basin Gold-Copper Project in Mohave County, Arizona, following the receipt of a Notice of Exploratory Trenching. This allows for excavation of 10 trenches to further assess gold-copper mineralization. Significant findings from spring fieldwork include gold assays up to 45.4 g/t and copper grades exceeding 1.53%. Usha plans to advance exploration into 2022.
Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF) has closed the first tranche of its non-brokered private placement, raising $890,300.40 by issuing 2,967,668 units at $0.30 each. Each unit includes one common share and one-half of a share purchase warrant, exercisable at $0.45 for two years. The company incurred finders' fees of $40,271.01 and additional finder warrants. Proceeds will fund exploration and working capital. The company also received a 30-day extension to close a second tranche of the placement.
Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF) has appointed Adrian Smith as a director, effective immediately, while Brian Moore has resigned. Smith, a seasoned geologist with extensive capital markets experience, will support the development of the Lost Basin gold-copper project in Arizona and the Green Hills copper-cobalt project in Montana. The Green Hills Property contains over 10,000 metres of historical drilling, revealing significant mineralization, while the Lost Basin Property shows promising soil sample results, including up to 11.134 g/t Au.
Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF) has entered into a Share Exchange Agreement to acquire 1236598 B.C. Ltd., a company with a significant Copper-Cobalt Property in Montana. The acquisition involves 5,800,000 common shares valued at $0.30 each, subject to a 2% net smelter returns royalty. The property boasts over 1,342 acres with historical drilling results showing promising mineralization. Additionally, Usha has initiated a non-brokered private placement raising up to $3 million to fund exploration. The deal awaits TSX Venture Exchange approval.
Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF) announced an update on its Fall 2021 exploration program at the Lost Basin Gold-Copper Project in Arizona. The company has received a permit to excavate 10 trenches totaling approximately 1,420 metres to sample mineralized sections. Key findings include:
- Red Basin showing up to 11.134 g/t Au
- Copper Blowout with 1.53% Cu
- Mallory's Trench yielding 2.6 g/t Au
This exploration aims to enhance understanding of gold mineralization and develop targets for future drilling.
Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has appointed Adrian Smith, P.Geo., as an advisor, enhancing its leadership team. Smith brings over a decade of capital markets and mineral exploration experience, including successful management of the Mohave Gold project in Arizona. His role will focus on developing the Lost Basin gold-copper project and assessing acquisition targets for base and battery metals. Usha aims to increase shareholder value through strategic mineral exploration and acquisition.
Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has granted incentive stock options for 435,227 Shares at an exercise price of $0.20 per Share for five years to directors, officers, and consultants. This move aligns with the company's stock option plan. Usha focuses on exploring commercially viable mineral deposits, particularly in Northwest Ontario, Canada, and the Lost Basin Gold Mining District in Arizona, USA. The company aims to enhance shareholder value through strategic acquisitions and advanced exploration techniques.
Usha Resources Ltd. (USHAF) announced significant findings from its Lost Basin Gold-Copper Project in Arizona. The recent exploration identified a potential bulk tonnage target, paralleling Mineral Ridge deposits. Highlights include grab samples from Ideas Lode West with assays up to 45.4 g/t Au, and anomalous soil samples in Red Basin with values reaching 11.134 g/t Au. Chip samples from Copper Blowout show copper grades as high as 1.53% Cu. Further exploration plans are in place to expand these promising targets, enhancing prospects for a fall drilling program.
Usha Resources Ltd. (USHAF) announces completion of its preliminary reconnaissance program on the Eden gold claims near Tonopah, Nevada. The program, led by Helgi Sigurgeirson, involved five days of fieldwork evaluating gold and silver potential due to historical occurrences and geological prospects. The Eden Camp has a rich mining history, and initial findings suggest possible mineralization zones remain unexplored. The company plans a more extensive exploration program pending further due diligence. CEO Deepak Varshney expressed optimistic views on the prospect of delineating a gold resource in a prime mining area.