Permission to Drill at Wikieup

RNS Number : 5737R

Bradda Head Lithium Ltd

08 November 2021

 

08 November 2021

Bradda Head Lithium Ltd.

("Bradda Head", "Bradda", or the "Company")

Permission to Drill at Wikieup

Bradda Head Lithium Ltd. (AIM: BHL), the North America-focused lithium development group, announces that it has received conditional permission to begin exploration drilling at its Wikieup sedimentary claims in Central Arizona.

Highlights:

· Bradda Head has received permission to commence drilling at its Wikieup project, pending bond payment adjudication which is expected to complete in Q4.

· Permission received refers to 9.8km² of Bradda's Wikieup project (total 29.3km²) covering Sections 12, 13 and Wikieup NW exploration targets (https://www.braddaheadltd.com/media/image-library/wikieup-2021-drilling-programme/) representing the main area of focus for the Company.

· Bradda Head has released promising initial results from its 2021 geophysics programme (RNS dated 29/10/2021) at its Wikieup project, showing clay thicknesses of up to 90 metres, comparable to Arizona Lithium's (formerly Hawkstone) Big Sandy deposit (1,850 ppm Lithium grade), which is adjacent to Bradda Head's Wikieup claims.

· Drilling is expected to start in Q4, with Bradda Head already engaging the highly-respected drilling contractor Boart Longyear (RNS dated 04/10/2021) to carry out the environmentally sensitive sonic drilling programme.

· This programme is focussed on claims that are approximately 20% of Bradda's sedimentary landholding (total 47km²) and has the potential to add to Bradda's existing resource (185kt LCE) at its Burro Creek East asset which covers only 2% of Bradda's claim package.

· Surface samples with grades of up to 1,750 ppm lithium have been identified at Bradda's Wikieup project and our geologists are confident that the upcoming drill programme will confirm the prospectivity of the project and define additional lithium mineralisation to support a maiden resource estimate at the project in Q2 2022.

Drilling can begin once the bond payment is adjudicated. Bradda has posted the necessary bonding payment required by the BLM as of 25/10/2021. Exploration permits should be issued within 30 days of bonding fees being received.

Charles FitzRoy, CEO of Bradda Head, commented:

"Bradda is continuing with its fast-track efforts to unlock the value of its sedimentary lithium opportunity at the Wikieup/Burro Creek area. It has already embarked on an aggressive drilling programme at its Burro Creek license area, due to complete this month, and, as highlighted in previous PRs, the grade and depth of the Lithium mineralisation found during this campaign has been encouraging. It is, therefore, with a high level of optimism that we are now starting Phase 2 of our current drilling programme plan at our Wikieup licence area. This will bring the total area drilled on our extended land package (47kms²) to c.20% which compares favourably with the 2% we inherited. This is a huge and important step for the Company, with a Maiden resource from Wikieup planned for Q2 2022.

"The surface sampling undertaken by our geological team at Wikieup has identified highly-prospective areas with the potential for lithium mineralised clay, and recent geophysical work has indicated that this clay is up to 90 metres thick (RNS dated 29/10/2021). This gives us great optimism going into this next phase of operations.

"It is an exciting time for Management and our shareholders as the Company gears up at its three project sites and looks to grow its lithium resource base from its lithium-in-clays prospects at Wikieup, lithium-in-pegmatites at San Domingo and lithium-in-brines at Wilson and Spencer.

"The permission to drill at Wikieup follows on from the recently-announced results from our geophysical programme at our Burro Creek and Wikieup properties, where we identified a real opportunity to see significant growth in our lithium-in-clays resource base from shallow but extensive drill targets identified at our sites.

"We look forward to commencing drilling at Wikieup in Q4 and increasing our resources at our 47km² of sedimentary claims to support our aim of establishing a substantial lithium resource base in Arizona, where we already have a JORC compliant inferred resource of 185kt of LCE."

For further information please visit the Company's website: www.braddaheadltd.com

Contact:

Bradda Head Lithium Limited	[phone]
Charlie FitzRoy, CEO Denham Eke, Finance Director
Beaumont Cornish (Nomad) James Biddle/Roland Cornish	[phone]
Peterhouse (Joint Broker)	[phone]
Charles Goodfellow Duncan Vasey Lucy Williams
Shard Capital (Joint Broker)	[phone]
Damon Heath Isabella Pierre
Red Cloud (North American Broker)	[phone]
Joe Fars
Tavistock (PR)	+ 44 20 7920 3150
Nick Elwes Oliver Lamb Adam Baynes	[e-mail]

 

Notes to Editors

Bradda Head Lithium Ltd. is a North America-focused lithium development group. The Company currently has interests in a variety of lithium projects, the most advanced of which are in Central and Western Arizona: The Burro Creek project (Burro Creek East Project, and the Burro Creek West Project) and the Wikieup Project.

The Burro Creek East Project has an estimated an Inferred Mineral Resource (JORC) of 42.6 Mt of lithium bearing clays at an average grade of 818 ppm of lithium for 185,000 tonnes of lithium carbonate equivalent (LCE). The Burro Creek East Project also has additional exploration potential for extensions to the current model of between 50,000 to 300,000 tonnes of lithium carbonate equivalent.

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 Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.

Bradda Head is quoted on the AIM of the London Stock Exchange with the ticker of BHL.

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