TIDMBHL
RNS Number : 4453T
Bradda Head Lithium Ltd
15 November 2023
15 November 2023
Bradda Head Lithium Ltd
("Bradda Head", "BHL" or the "Company")
Basin East Mineral Resource Estimate Uploaded to SEDARplus
Bradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI, OTCQB:BHLIF), the
North America-focused lithium development group, announces that,
further to its press release of 28 September 2023, it has, on 14
November 2023, filed a Technical Report ("Report") on SEDARplus for
the updated Mineral Resource Estimate ("MRE") at the Company's
Basin East ("BE") asset in Arizona.
The Report is available to be downloaded from Bradda Head's
profile on SEDARplus at www.sedarplus.ca/landingpage/. A copy of
the Report is also available on the Company's website,
www.braddaheadltd.com .
The Basin East MRE, reported by SRK Consulting (UK) Ltd ("SRK"),
was updated in September 2023 (see RNS dated 28 September
2023).
Highlights of the BE MRE:
-- Bradda Head added 729 kt of Lithium Carbonate Equivalent
("LCE") to the Inferred Mineral Resource, for an updated total
Inferred LCE content of 1.0 Mt (million tonnes).
-- Following this, the Company received the next milestone of
US$ 2.5 million under the Royalty Agreement.
-- Increase in confidence levels in achieving the next milestone
of 2.5Mt of LCE in situ, that enables Bradda Head to receive a
further US$ 3.0 million payment from the Royalty Agreement.
-- The average in situ grade of the Inferred Basin East Mineral
Resource has increased from 694 to 900 ppm Li, a 30% increase.
-- Extensive lateral continuity of the Basin East clay package
identified, as well as impressive consistency in the stratigraphic
position and grade profile of a high-grade clay-rich sub-unit, over
an approximately 2.7 x1.8 km area
Qualified Person SRK
The Mineral Resource statement has been authored by Mr. Martin
Pittuck, CEng, MIMMM, FGS who works for SRK Consulting (UK) Ltd, an
independent mining consultancy. Mr. Pittuck has over 25 years'
experience undertaking and reviewing Mineral Resource Estimates and
has worked on lithium clay estimates for over 5 years. Mr. Pittuck
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.
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.
---------------------------------------------------
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCQZLFFXFLEFBE
(END) Dow Jones Newswires
November 15, 2023 02:00 ET (07:00 GMT)
Grafico Azioni Bradda Head Lithium (LSE:BHL)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Bradda Head Lithium (LSE:BHL)
Storico
Da Mag 2023 a Mag 2024
