TIDMBHL
RNS Number : 1609T
Bradda Head Lithium Ltd
13 November 2023
13 November 2023
Bradda Head Lithium Ltd
("Bradda Head", "BHL" or the "Company")
Phase 2 drilling identifies new lithium-bearing pegmatite zones
at San Domingo
Bradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI, OTCQB:BHLIF), the
North America-focused lithium development group, announces initial
results from core drilling at San Domingo, Arizona. This is the
first set of assays released from the Company's current 6,100m
(20,000 ft) programme, which is 65% complete. So far, assays have
been received from only 14 holes totalling 993m, with grades of up
to 0.83% Li(2) O over 6.35m and 1.03% Li(2) O over 3.05m
identified.
Summary :
-- Preliminary core drilling was conducted at Midnight Owl,
Bolt, and Lone Giant in the northern part of San Domingo, amounting
to 1,877m in 22 shallow core holes
-- This programme is follow-up core drilling to Midnight Owl's
previous programme that encountered 31.85m @ 1.60% Li(2) O in hole
SD-DH22-024 at a depth of 26.82m
-- Drill hole SD-DH23-049 at the Midnight Owl target discovered
a new zone deeper than found in hole 24:
o 6.35m containing 0.83% Li(2) O at 87.33m depth
o 3.05m of 1.03% Li(2) O at 98.60m depth
-- Results from Midnight Owl also revealed tin and tantalum
coinciding with pegmatites and lithium mineralisation
-- Drill holes at the new Bolt target, located 800m east of Midnight Owl include:
o 5.27m at 0.51% Li(2) O within a broader interval of 24.65m
carrying 0.24% Li(2) O
o 5.87m containing 0.5% Li(2) O contained within 11.8m of 0.32%
Li(2) O
-- Core holes at Bolt have detected anomalous levels of tantalum
with intervals coincident to the lithium intercepts
Ian Stalker, Executive Chair, commented:
"Our knowledge of this intriguing spodumene-rich pegmatite
district grows as we announce our second phase drilling results,
which auger well for future development. The initial batch of drill
hole geochemistry provides us with an improved understanding of
pegmatite characteristics and mineralogical zoning at San Domingo,
particularly at the Midnight Owl and Bolt targets.
"The elevated Ta and Sn levels show encouragingly strong
comparisons to LCT-type systems, evidence of our robust lithium
pegmatite district. Importantly, both Midnight Owl and Bolt targets
continue to provide opportunities to expand on the lithium
mineralisation, with the goal of defining near surface
resources."
See Table 1 below for a summary of results and Figures 1, 2, and
3 for map and cross-sections.
The new Bolt target at San Domingo was found through soil
sampling and surface mapping (see announcement dated 15 August
2023). It is important to note that the drill hole geochemical
signatures correspond to LCT (lithium-caesium-tantalum) type found
in Western Australia at the Kathleen Valley Project. The
combination of lithium and tantalum strongly points towards an
LCT-type system. Additional holes at Bolt are in the planning
stages, although the Company continues to review and interpret the
new geochemical results to pinpoint future drilling targets.
Diamond core drilling continues at the Morning Star target with
five holes recently completed and several more planned. Both Jumbo
and White Ridge targets have undergone a second phase of drilling,
with 19 holes drilled over a total of 1,740m. The drilling also
includes holes drilled at Joker, where pegmatites contain
finer-grained spodumene throughout the extent of the pegmatites.
The long intervals of spodumene-bearing pegmatites seen at Jumbo,
White Ridge, Joker, and now at Morning Star provide encouragement
from the visual lithium mineralisation, although we await
laboratory geochemical results.
Table 1 : San Domingo North Drill Hole Highlights
Hole From To Int (m) Li(2) Ta(2) Sn (ppm) Target
O % O(5)
Midnight
SD-DH23-048 19.42 36.24 16.82 73 Owl
------- ------- -------- ------ ------ --------- ---------
26.3 26.3 9.12 105
------- ------- -------- ------ ------ --------- ---------
Midnight
SD-DH23-049 87.33 93.67 6.35 0.83 Owl
------- ------- -------- ------ ------ --------- ---------
89.18 94.34 5.16 80
------- ------- -------- ------ ------ --------- ---------
97.9 102.17 4.27 82
------- ------- -------- ------ ------ --------- ---------
98.6 101.65 3.05 1.03 71
------- ------- -------- ------ ------ --------- ---------
Midnight
SD-DH23-050 98.02 101.89 3.87 70 Owl
------- ------- -------- ------ ------ --------- ---------
SD-DH23-057 18.07 42.73 24.65 0.24 47 Bolt
------- ------- -------- ------ ------ --------- ---------
34.35 39.62 5.27 0.51 58
------- ------- -------- ------ ------ --------- ---------
SD-DH23-059 2.80 40.23 39.37 37
------- ------- -------- ------ ------ --------- ---------
27.13 28.35 1.22 0.17
------- ------- -------- ------ ------ --------- ---------
47.43 52.97 5.54 92 Bolt
------- ------- -------- ------ ------ --------- ---------
68.03 79.86 11.8 0.32 42
------- ------- -------- ------ ------ --------- ---------
68.03 73.91 5.87 0.48 43
------- ------- -------- ------ ------ --------- ---------
SD-DH23-061 134.57 136.25 1.52 0.52 Bolt
------- ------- -------- ------ ------ --------- ---------
134.57 138.56 4.00 72
------- ------- -------- ------ ------ --------- ---------
SD-DH23-065 1.52 9.45 7.93 0.10 45
------- ------- -------- ------ ------ --------- ---------
3.35 4.88 1.52 0.31 Bolt
------- ------- -------- ------ ------ --------- ---------
SD-DH23-066 28.9 32.13 3.23 127 Bolt
------- ------- -------- ------ ------ --------- ---------
*All drill depths are from surface
Figure 1 : San Domingo North drilling, pegmatites, and target
areas
Figure 2 : Midnight Owl cross-section, looking northwest
Figure 3 : Bolt cross-section and drill hole SD-DH23-057,
looking northwest
For further information please visit the Company's website:
www.braddaheadltd.com.
QAQC
Core samples were split on site and bagged with sample tracking
tags. Samples were shipped by the Company directly to SGS
Laboratories in Burnaby, B.C., Canada where SGS prepped then
analysed all samples using sodium peroxide fusion combined ICP-AES
and ICP-MS, method GE_ICM90A50. Certified standards were inserted
into the sample stream and reviewed by the Qualified Person. Mr.
Wilkins consents to the inclusion of the technical information in
this release and context in which it appears.
Qualified Person (BHL)
Joey Wilkins, B.Sc., P.Geo., is Head of North America at BHL and
the Qualified Person who reviewed and approved the technical
disclosures in this news release. Mr. Wilkins is a graduate of the
University of Arizona with a B.Sc. in Geology with more than 37
years of experience in mineral exploration and is a qualified
person under the AIM Rules and a Qualified Person as defined under
NI-43-101. Mr. Wilkins consents to the inclusion of the technical
information in this release and context in which it appears.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
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 VIA A REGULATORY
INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO
BE IN POSSESSION OF INSIDE INFORMATION.
S
Contact:
Bradda Head Lithium Limited +44 (0) 1624 639 396
Ian Stalker, Executive Chairman
Denham Eke, Finance Director
Beaumont Cornish (Nomad) +44 (0) 2076 283 396
James Biddle / Roland Cornish
Panmure Gordon (Joint Broker) +44 (0) 2078 862 500
John Prior / Hugh Rich
Shard Capital (Joint Broker) +44 (0) 2071 869 927
Damon Heath / Isabella Pierre
Red Cloud (North American
Broker) +1 416 803 3562
Joe Fars
Tavistock (Financial PR) + 44 20 7920 3150
Nick Elwes / Adam Baynes braddahead@tavistock.co.uk
About Bradda Head Lithium Ltd.
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 Indicated Mineral Resource of 17
Mt at an average grade of 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. Bradda Head is quoted on the AIM of the London
Stock Exchange with the ticker of BHL, on the TSX Venture Exchange
with a ticker of BHLI, and on the US OTCQB market with a ticker of
BHLIF.
Technical Glossary
Kt Thousand tonnes
Ppm Parts per million
---------------------------------------------------
Exploration Target An estimate of the exploration potential
of a mineral deposit in a defined geological
setting where the statement or estimate,
quoted as a range of tonnes and a range
of grade (or quality), relates to mineralisation
for which there has been insufficient exploration
to estimate a Mineral Resource.
---------------------------------------------------
Inferred Mineral Resource That part of a Mineral Resource for which
quantity and grade (or quality) are estimated
on the basis of limited geological evidence
and sampling. Geological evidence is sufficient
to imply but not verify geological grade
(or quality) continuity. It is based on
exploration, sampling and testing information
gathered through appropriate techniques
from locations such as outcrops, trenches,
pits, workings, and drill holes. An Inferred
Mineral Resource has a lower level of confidence
than that applying to an Indicated Mineral
Resource and must not be converted to an
Ore Reserve. It is reasonably expected
that the majority of Inferred Mineral Resources
could be upgraded to Indicated Mineral
Resources with continued exploration.
---------------------------------------------------
Indicated Mineral That part of a Mineral Resource for which
Resource quantity, grade (or quality), densities,
shape and physical characteristics are
estimated with sufficient confidence to
allow the application of Modifying Factors
in sufficient detail to support mine planning
and evaluation of the economic viability
of the deposit. Geological evidence is
derived from adequately detailed and reliable
exploration, sampling and testing gathered
through appropriate techniques from locations
such as outcrops, trenches, pits, workings,
and drill holes, and is sufficient to assume
geological and grade (or quality) continuity
between points of observation where data
and samples are gathered.
---------------------------------------------------
Sn Tin
---------------------------------------------------
Ta(2) O(5) Tantalum pentoxide
---------------------------------------------------
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. This News Release includes certain "forward-looking
statements" which are not comprised of historical facts.
Forward-looking statements include estimates and statements that
describe the Company's future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be
identified by such terms as "believes", "anticipates", "intends
to", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions
and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these statements
are based on information currently available to the Company, the
Company provides no assurance that actual results will meet
management's expectations. Risks, uncertainties, and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects, and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, following: The
Company's objectives, goals, or future plans. Factors that could
cause actual results to differ materially from such forward-looking
information include, but are not limited to: failure to identify
mineral resources; failure to convert estimated mineral resources
to reserves; delays in obtaining or failures to obtain required
regulatory, governmental, environmental or other project approvals;
political risks; future operating and capital costs, timelines,
permit timelines, the market and future price of and demand for
lithium, and the ongoing ability to work cooperatively with
stakeholders, including the local levels of government;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices; delays in the
development of projects, capital and operating costs varying
significantly from estimates; an inability to predict and
counteract the effects of COVID-19 on the business of the Company,
including but not limited to the effects of COVID-19 on the price
of commodities, capital market conditions, restriction on labour
and international travel and supply chains; and the other risks
involved in the mineral exploration and development industry, and
those risks set out in the Company's public documents filed on
SEDARplus. Although the Company believes that the assumptions and
factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
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END
MSCGPGMWGUPWGMP
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November 13, 2023 02:00 ET (07:00 GMT)
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