Announcement Date: 2022-03-29
Announcement Type: Deposit Estimation
Announcement Code: (no Code)
Company name: Bradda Head Lithium Ltd.
Project name: Basin East
Location: United States
Commodities: Lithium,Potassium
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Bradda Head Lithium Ltd (AIM:BHL, OTCQB:BHLIF), the North America-focused lithium development group, is pleased to announce an updated Mineral Resource estimate (“MRE”) at its Basin East (“BE”) Project in Arizona resulting in a 65% increase in contained lithium carbonate equivalent (“LCE”) tonnes. Furthermore, a continuous higher grade internal layer has been identified with a grade of c. 1,300ppm Li in the upper part of the deposit. SRK the highly regarded Independent geological consultants have also identified a 1Mt to 6Mt LCE Exploration Target within the Basin Project district held by Bradda Head. The BHL team’s exploration plan was designed to extract maximum value from funds raised at pre-IPO. The decision to focus initial drilling on the already permitted Basin East asset has proven to be hugely beneficial at demonstrating the Mineral Resource growth potential, and the speed with which this has been achieved is down to the team on the ground, especially considering rig and lab shortages in the US. The Company has now generated a Mineral Resource of 305 kt of LCE, and we expect to continue adding to the resource base as exploration work continues.
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