Bradda Head Lithium Ltd. [TSXV-BHLI; OTCQB-BHLIF; AIM-BHL] reported that it has filed the complete technical report by ABH Engineering Inc. on SEDAR+ for the updated mineral resource estimate at the company’s Basin project asset in Arizona. The MRE in the report is materially unchanged from that announced on July 1, 2024.
Highlights: The total mineral resource comprises 20 million tonnes in the measured category at 929 parts per million lithium consisting of 99,000 tonnes LCE (lithium carbonate equivalent), 122 million tonnes in the indicated category at 860 parts per million lithium consisting of 560,000 tonnes LCE and 499 million tonnes in the inferred category at 810 parts per million lithium, carrying 2.15 million tonnes LCE (1% lower than the July 1 inferred category following adjustments in the model).
The resource contains 20 million tonnes of 929 parts per million lithium for 99,000 tonnes of LCE in the measured category — the first ever in this category at Basin.
As per the company’s royalty agreement with the Lithium Royalty Company (LRC), the updated MRE triggered the final royalty payment of US$3 million, which Bradda Head Lithium has since requested and received from LRC.
The results of the 2024 drilling program demonstrate extensive lateral continuity from Basin East through to Basin North, identifying impressive consistency in the stratigraphic continuity of the Upper Clay and grade profile over a three-kilometre-by-two-kilometre area that remains open to the north, east and west.
It is important to note that the upper clay unit includes a continuous high-grade layer that has an average grade of approximately 1,190 parts per million lithium and is on average 15 metres thick and outcrops in Basin East, potentially forming part of a phased mining processing operation that would clearly enhance early stages of mining and overall project economics.
Five out of the eight drill holes encountered lithium-mineralized lower clay, which makes a significant contribution to the overall resource, particularly as the company is able to connect the lower clay mineral resource from Basin East to the northern edge of Basin North, a distance of three kilometres.
The average in situ grade of the inferred basin east mineral resource has decreased slightly from 900 parts per million lithium to 822 parts per million lithium, a 9% decrease.
ABH applied a new cut-off grade of 550 parts per million lithium to report the mineral resources and demonstrate reasonable prospects of eventual economic extraction (RPEEE). This is the same cut-off grade previously used by SRK Consulting (550 parts per million lithium; effective Sept. 28, 2023).
Following the 2024 drill program and new geologic mapping, the company’s understanding of the Basin project has increased significantly, resulting in renewed encouragement of extensive exploration opportunities for growth over the remainder of Basin North and all of Basin West, where the company continues working on permits.
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, Basin North and Basin West targets) and the Wikieup project. The Basin East project has a measured mineral resource of 20 million tonnes consisting of 929 parts per million lithium for 99,000 tonnes LCE, an indicated mineral resource of 122 million tonnes at an average grade of 860 parts per million lithium for 560,000 tonnes LCE and an inferred mineral resource of 506 million tonnes at an average grade of 808 parts per million lithium for a total of 2,175,000 tonnes LCE.
The group intends to continue to develop its three phase 1 projects in Arizona while 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.
