Jackpot Lake

Overview

Jackpot Lake is our newly acquired Lithium project located In Moapa Valley, Nevada.

 

  • Comprised of 140 claims on 2800 acres just 35 km northeast of Las Vegas.

 

  • Highest lithium value of 550 ppm with an average of 175 ppm, comparable to Albemarle, the only lithium producing mine in the U.S that is also located in Nevada.

 

  • Drill ready project with ability to operate year-round, good road access.

 

  • Closed basin resource determined through gravitational surveying.

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Historical Work & Future Plans

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  • In 1976 USGS completed 129 core samples, spectrographic and atomic-absorption analyses of 135 stream sediment samples confirmed potential for lithium mineral deposits.

 

  • Highly enriched brines discovered through CSMAT surveying. 

  • Small drill program is needed to prove up potential resource.

  • The company plans to drill a combination of shallow and deep holes with the goal of completing a 43-101 resource estimate by Q4 of 2022.

  • Nevada is host to one of the largest-known lithium deposits in North America created by an ancient and now extinct, super-volcano.

  • The bulk of lithium chemicals used in the US are imported from other lithium-rich countries.

  • Appears to host a similar deposit style as Albemarle's Silver Peak lithium mine, which has operated continuously since 1966, and Iconic Mineral's Bonnie Claire project which has a PEA that indicates a 40 year mine with an after-tax NPV 8% of 1.5 billion. 

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Why Lithium?

At Usha, we see an incredible opportunity to take part in the growing demand for electric vehicles, mobile devices, and, grid storage that is creating a long-term supply shortage and increasing lithium prices. 

 

  • The US represents one of the largest resources for lithium in the world providing tremendous potential for these properties given their strategic locations.

  • The use of lithium will help to improve quality of life, reducing air pollution, advancing renewable energy, and, promoting electronic mobility.

  • The value of lithium has exponentially increased since the beginning of the rise in 2020 making many lithium deposit economic to explore.