Bradda Head Lithium Ltd. [AIM-BHL; TSXV-BHLI] reported drill hole geochemical results for its Basin Project in Arizona. The lithium-in-clay, resource-expansion drilling program concluded with the completion of eight drill holes on the Basin North target portion of the Basin project and all assays have been received. A resource expansion exceeding 2.5 MT of lithium carbonate equivalent (LCE) would generate a US$3 million royalty payment to Bradda Head from Lithium Royalty Company (LRC).
Basin North Drill Program Highlights: Upper Clay unit thickness at 103m in the center of the drill pattern discovered in hole BND24-19, encountering nearly 100m (99.82m) at 839 ppm Li with a higher-grade interval of 32.52m at 1,030 ppm LiFive out of the eight holes contain abundant lithium in the Lower Clay, significant as we are now able to connect the Lower Clay in Basin North with holes drilled at Basin East, 2km to the south.
Drill hole BND24-22 encountered 24.05m at 845 ppm Li in the lower clay, ending in 822 ppm Li due to hole collapsing.
Additional surface geological mapping and surface sampling further predict the expansion of clays (Upper and Lower) towards the west onto Basin West, to the East onto a State of Arizona Mineral Exploration Permit (MEP), and well to the north where clays have been discovered 1.8km north of hole BND24-20New surface sampling detects up to 1,241 ppm Li in clays 1.8km to the north of hole BND24-20, interpreted to represent the Upper Clay.
Program completed without environmental or safety incidents; MRE anticipated to be complete within the next few weeks, following which the resource will be announced.
Results from all eight drill holes contain excellent lithium mineralization, with extensive amounts newly discovered in the Lower Clay. The highlight of this year’s drilling is 99.82m containing 841 ppm Li with a higher-grade interval of 32.52m containing 1,030 ppm Li in drill hole BND24-19. Hole BND24-19 contains the thickest Upper Clay thickness of 103m. Drill hole BND24-23 has strong lithium mineralization in both the Upper Clay and Lower Clay, highlighted by 69.80m of 976 ppm Li in the Upper Clay with 11.74m at 1,583 ppm Li in the High-Grade zone within the Upper Clay and 11.43m of 864 ppm in the Lower Clay.
The company anticipates that the MRE will be completed within the next few weeks, following which the resource will be announced.
Rock chip samples were also collected in Basin North around the north margin of the sedimentary basin, detecting up to 1,241 ppm Li on the surface, proving the exceptional expansion opportunities towards the north, along with what the company knows about the extensive potential at Basin West.
Ian Stalker, Executive Chair, commented: “This is a particularly exciting juncture in the company’s trajectory, as we await the updated resource which could unlock a significant royalty payment from the LRC. Now, with all the results received and the notable expansion into the Lower Clay, we await calculation by our QP on the MRE expansion, which we anticipate proving significant growth from 1.08 MT of LCE.
“Since last year’s sonic drilling and expansion from 371KT to 1.08MT of LCE, we have remained steadfast in our prediction that we will achieve what is an important increase. We tripled the resource last year and are optimistic we may achieve something similar with the conclusion of this 2024 program. We look forward to providing an update on the Basin MRE for all our stakeholders in short order.”
Bradda Head Lithium has interests in a variety of projects, the most advanced of which are in Central and Western Arizona: The Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.
The Basin East Project has an Indicated Mineral Resource of 17 Mt averaging 940 ppm Li and 3.4% K for a total of 85 kt LCE and an Inferred Mineral Resource of 210 Mt at an average grade of 900 ppm Li and 2.8% K (potassium) for a total of 1.09 Mt LCE. In the rest of the Basin Project SRK has determined an Exploration Target of 250 to 830 Mt of material grading between 750 to 900 ppm Li, which is equivalent to a range of between 1 to 4 Mt contained LCE.
The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada, and Pennsylvania. All of Bradda Head’s licences are held on a 100% equity basis and are in close proximity to the required infrastructure.
