Wilson Test Drilling Permits Received

RNS Number : 6564B

Bradda Head Lithium Ltd

15 February 2022

 

15 February 2022

Bradda Head Lithium Ltd

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

Wilson Test Drilling Permits Received

Bradda Head Lithium Ltd (AIM:BHL, OTCQB:BHLIF), the North America-focused lithium development group, is pleased to announce that it has been granted drilling permission to conduct geochemical testing of the brine at its Wilson Flat Project ("Wilson") in Nye County, Nevada. The Wilson Flat Project consists of 13.6 km² of federal mining claims.

Highlights:

· Bradda Head has built on previous positive exploration results (2016 gravity survey, 2017 magnetotellurics ("MT") survey and 2016 surface sampling at Wilson) to receive drilling permits at its Wilson project in Nevada. The newly permitted drilling is designed to test promising features identified in the prior work undertaken in 2016 to 2017.

· Results of the 2016 gravity survey and 2017 MT survey conducted by Bradda Head geologists at its Wilson asset in Nevada indicated the potential presence of a brine-enriched basin up to 5km long and up to 400m deep. The interpreted structures and architecture are consistent with the lithium-bearing brine deposit models identified in the adjacent Clayton Valley area (Albemarle, Silver Peak).

· Permission has been granted for two 305m holes to test the basin identified from the previous gravity and MT surveys.

· Additional exploration at the Project involved a 2016 surface sampling programme which returned promising grades of up to 192ppm Li in clay.

· The objective of the drilling programme is to obtain brine samples for geochemical testing, develop a better understanding of the hydrogeology, and to conduct lithological logging of the shallow clay sediments to learn more about the deposit(s) at Wilson.

· Due to the prospective lithium grades at surface, the Bradda Head team plan to follow up with a surface drilling programme which is now being planned as well as the brine geochemical testing programme now permitted.

Bradda Head has been granted permission by the US Bureau of Land Management ("BLM") to drill two holes, of 305 metres in depth each and approximately two kilometres apart, to conduct geochemical testing of the lithium brine at its Wilson Flat Project located in Nye County in Nevada, USA. Wilson is c.130 km east of Albemarle's Silver Peak lithium brine operation in Clayton Valley, Nevada and c.115km east of American Lithium's TLC project in Nevada. The Wilson Flat Project consists of 13.6 km² of federal mining claims.

Exploration to date has involved surface sampling, a 2016 gravity survey and a 2017 MT survey. MT surveys are especially useful in the determination of saline (brine) lakebed fills. Results of the gravity and MT surveys indicated the potential presence of a brine-enriched basin fill up to 5km long.  The interpreted structures and architecture are consistent with the lithium-bearing brine deposit models identified in the adjacent Clayton Valley area (Albemarle, Silver Peak).

A deep basin containing a thick sequence of saturated sedimentary formations is apparently present beneath the Wilson Flat property. In addition, surface sediment samples taken in 2016 are enriched in lithium (up to 192ppm) whilst water bores located 1km east containing elevated levels of lithium (1.2ppm) support the hypothesis of enriched lithium waters at depth in the identified basin.

The anomalous surface results (up to 192ppm Li) and the presence of lithium mineralisation at surface adds to the potential for sedimentary lithium deposits as well as the identified brine target at depth.

For comparison of the sedimentary resource potential at Wilson, American Lithium's sedimentary TLC project is c.115km from Wilson and covers 30.5km², and has a Maiden resource of 7.1Mt of Lithium Carbonate Equivalent (LCE). Bradda's Wilson claims cover an area of 13.6km2.

Charles FitzRoy, CEO of Bradda Head, commented:

"We are delighted to have received the BLM drill permits and to be initiating test drilling at our Wilson Project.

"The surface sampling so far on the Project has shown very encouraging results of as much as 192 ppm Li, and the MT survey has indicated the presence of lithium brine deposits starting at 150m and being up to 5 kilometres long, which also corresponds with our geological model for Wilson.

"Our exploration success at Basin, our on-going exploration at San Domingo and our now-permitted drill program at Wilson provides us with confidence that our strategy of simultaneously developing the key lithium deposit types of clays, pegmatites and brines in a coordinated manner is the right one.

"Alongside the brine target that the Bradda team are exploring is the potential for sedimentary lithium deposits too, similar to our neighbours in Nevada, American Lithium. The lithological logging will help us understand the deposit(s) better and build on our existing geological model, especially in the shallower sediments near surface."

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

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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 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 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 Basin 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 of 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 and on the US OTCQB market with a ticker of BHLIF.

 

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