TIDMBHL
RNS Number : 7454A
Bradda Head Lithium Ltd
24 January 2024
24 January 2024
Bradda Head Lithium Ltd
("Bradda Head", "BHL" or the "Company")
Additional Near Surface, High Grade, Lithium Discoveries made at
Morning Star Pegmatites in the San Domingo District Play
Bradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI,), the North
America-focused lithium development group, announces further
results from the Phase 2 core drilling at San Domingo ("SD"),
Arizona. This is the third and final set of assays released from
the Company's 18,950 feet (5,776m) programme, completed December 2,
2023 and focuses on the Morning Star and Morning Star South
targets, located southwest of the Central Targets. The programme
has delivered an abundance of encouraging results over the December
holiday break.
Ian Stalker, Executive Chair, commented:
"As we reach the end of this current San Domingo drilling
exploration program, our objectives have been met and indeed
surpassed and, as a result our expectations heightened. It is worth
reflecting that total drilled metres at SD, from both programmes is
only 13,076 meters, covering less than 1% of the total property.
These were the first two drilling programmes of any note undertaken
at this historic and road accessible lithium mining camp in the
USA. In today's world the return on investment in these two
campaigns has been substantial and we will build on this as we move
forward. In other words, when the Lithium market bounces back, as
we believe it will, we will be ready to maximise value from our
total Lithium Portfolio including of course San Domingo. The
strategic location in the USA of our 'ready to move forward
projects' should not be discounted. America remains hungry for its
own 'home produced lithium!!'
"Our portfolio of pegmatites are emerging as viable and
potentially extractable near surface resources. The shallow and
high-grade intercepts seen at Morning Star are very exciting and we
look forward to building 3-D models that may lead to follow-up
drilling later this year. The abundance of tantalum, tin, and
beryllium are a bonus, potentially adding value to this maiden
drill programme at Morning Star. The obvious LCT (
lithium-caesium-tantalum geochemical signature, e.g., Kathleen
Valley signature) style of mineralisation confirms our belief that
we have a formidable district with massive upside potential."
"The fact that Morning Star contains high grade lithium as well
as being rich in tantalum, beryllium, tin with massive zones of
potassium feldspar means that we could have an exciting, diverse
and economic deposit. We have more 3D modeling to explore and,
given what we have discovered to date, this could significantly
change the way we examine not only Morning Star, but the rest of
the San Domingo pegmatite trend within our 33km(2) property."
"Parallel to our field work, and complements to our team that
delivered these results, we have streamlined our corporate
overhead. The net effect of this combined effort - business
management and technical know how - means that despite a very poor
Lithium market back drop we are now well placed financially and
geologically to be able to move with speed and with our in-house
skills to grow this investment opportunity. In the meantime, we
continue with our 'steady as she goes' approach with no superfluous
costs and intend to move back on the resource growth plan at Basin,
Arizona."
Summary :
-- High grade lithium mineralisation found at intervals such as
4.14m at 2.07% Li(2) O at a depth of 54.56m in drill hole
SD-DH23-104 and 5.40m of 1.70% Li(2) O at a depth of 31.39m in 093,
both at the Morning Star pegmatites (all holes are abbreviated from
SD-DH23-)
-- Again, favoured coarse-grained spodumene crystals are
observed as the dominant lithium mineral with minor amounts of
lepidolite and montebrasite
-- Large, cohesive, and mostly vertical pegmatite bodies were
verified at Morning Star, which were strongly zoned with massive
quartz, fine-grained albite, and minor schorl as well as massive
zones of potassium feldspar
-- Pathfinder elements of tin, tantalum ("Ta(2) O(5) "), and
beryllium ("BeO") are found to be highly anomalous in the drilling,
such as 6.76m at 145ppm Sn in hole 100, 872ppm Ta(2) O(5) with
0.23% BeO in drill hole SD-DH23-088 over 2.90m
-- Morning Star drill hole 088 contains high-grade Ta(2) O(5)
with an interval of 872ppm Ta(2) O(5) ppm and anomalous tin over
2.90m at a depth of 39.26m and 477 Ta(2) O(5) ppm over 5.34m at
75.74m depth
-- Lithium, plus the bonus of ore grade Ta(2) O(5) with discrete
anomalous tin and BeO in the Morning Star drill holes in a shallow
environment, bodes well for the potential of open cut mining.
Results from the Morning Star and South Morning Star targets are
highlighted by the following intervals:
-- 4.14m at 2.07% Li(2) O in drill hole 104 at Morning Star
-- 5.40m of 1.70% Li(2) O followed by 4.18m of 1.63% Li(2) O
(within 14.63m at 0.54% Li(2) O) plus 0.67m of 1.21% BeO, all above
55.93m depth in drill hole 093 at Morning Star
-- 5.55m of 1.03% Li(2) O in hole 099 at South Morning Star
-- 6.67m at 0.82% Li(2) O in drill hole 100 at South Morning Star
-- 2.01m at 1.84% Li(2) O in drill hole 091 at Morning Star
-- 2.80m at 0.65% Li(2) O in drill hole 090 at Morning Star
-- Morning Star surface samples of 4.35% and 3.67% Li(2) O above
holes 093 and 104 highlight open pit potential
-- Wide-open potential >100m depth, virtually unexplored by
this second program and presents impressive opportunities district
wide
Figure 1 : Cross section through Morning Star, drill hole
SD-DH23-093 and SD-DH23-104 high grade intercepts, surface samples
up to 0.92% Li(2) O
Drilling at Morning Star, located 1.0km southwest of the Central
Targets, commenced in late October with holes 088 through 098 and
104 for a total of 12 holes totalling 2,159m. Most holes were
drilled perpendicular to the main northeast trending and steeply
dipping pegmatite bodies, all of which encountered variable amounts
of pegmatite with visible spodumene and minor segments of
lepidolite and montebrasite. Holes 093 and 104 contain the
highest-grade intercepts with 5.40m at 1.70% starting at 31.39m
followed by 4.18m at 1.63% Li(2) O at 51.66m in hole 093, and 4.14m
at 2.07% Li(2) O at 54.56m followed by 4.57m at 1.12% Li(2) O at
66.75m in hole 104. Theses intercepts are compelling and
justification to follow-up on the high-grade intercepts discovered
in holes 093 and 104 with future exploration drilling. Notably, two
surface samples near the collars of 093 and 104 returned 4.35% and
3.67% Li(2) O, highlighting the potential connectivity with the
subsurface drill hole samples and open cut potential.
Ta(2) O(5) is highly anomalous at Morning Star, occurring with
or without lithium mineralisation such as in hole 088 where there
is 2.90m of 872 Ta(2) O(5) ppm with 0.46% Li(2) O and 0.23% BeO
including 1.13m of 2,220 Ta(2) O(5) represented as fine grained
tantalite in drill core.
High potassium values are found as massive potassium feldspar
with samples up to 12.00% K and an interval of 22.52m at 10.72% K
identified drill hole 104, isolated above the lithium rich
intervals at Morning Star. Further investigations into the
potassium distribution are planned as this could be a viable source
of potassium feldspar.
Immediately to the south is South Morning Star where a mine
exposes coarse grained spodumene crystals and was the target of
holes 099 through 103, cutting multiple zones of lithium
mineralization, see Figure 3 below for target location. Drill hole
099 intersected shallow mineralization with 6.69m of 0.58% Li(2) O
at 8.53m depth followed by 5 .55m of 1.03% Li(2) O at 31.03m. Hole
100 was drilled from the same site at a steeper angle (-75 degrees)
and cut multiple intervals of lithium mineralization, again quite
shallow highlighted by 3.04m at 0.68% Li(2) O and 123ppm Sn at
16.50m depth, followed by 6.75m at 0.82% Li(2) O and 145ppm Sn at
32.92m depth, both within 28.77m of 0.36% Li(2) O and 91ppm Sn. New
surface work will focus on collecting channel samples across the
prospect that will contribute to expansion of this very shallow and
potential open cut resource.
Table 1 : San Domingo, Morning Star and South Morning Star Drill
Hole Highlights
Hole number From To Int Li(2) Sn Ta(2) BeO Target
(m) (m) (m) O (%) (ppm) O(5) (%)
( ppm)
SD-DH23-088 28.80 31.09 2.28 0.41 620 0.06 Morning Star
------ ------- ------ ------- ------- -------- ----- --------------
28.80 45.63 16.82 0.19 164
------ ------- ------ ------- ------- -------- ----- --------------
39.26 42.15 2.90 0.46 872 0.23
------ ------- ------ ------- ------- -------- -----
46.51 49.62 3.11 223
------ ------- ------ ------- ------- -------- -----
48.77 49.62 0.85 0.49 259
------ ------- ------ ------- ------- -------- -----
75.74 102.02 21.45 0.03
------ ------- ------ ------- ------- -------- -----
75.74 81.08 5.34 477
------ ------- ------ ------- ------- -------- -----
SD-DH23-089 21.95 39.78 17.82 0.04
------ ------- ------ ------- ------- -------- -----
29.32 32.31 2.98 80
------ ------- ------ ------- ------- -------- -----
44.96 51.21 6.23 76 147
------ ------- ------ ------- ------- -------- -----
48.01 50.9 2.89 298
------ ------- ------ ------- ------- -------- -----
SD-DH23-090 6.10 22.52 17.43 0.17 75 42
------ ------- ------ ------- ------- -------- -----
6.10 10.82 4.73 116
------ ------- ------ ------- ------- -------- -----
16.25 19.05 2.80 0.65 109 48
------ ------- ------ ------- ------- -------- -----
SD-DH23-091 43.28 55.17 7.45 0.06 91
------ ------- ------ ------- ------- -------- -----
61.57 63.58 2.01 1.84 404
------ ------- ------ ------- ------- -------- -----
SD-DH23-093 5.64 11.67 6.04 151
------ ------- ------ ------- ------- -------- -----
16.76 17.83 1.07 0.31
------ ------- ------ ------- ------- -------- -----
31.39 40.39 8.99 1.20
------ ------- ------ ------- ------- -------- -----
with 31.39 36.79 5.40 1.70
------ ------- ------ ------- ------- -------- -----
44.20 58.83 14.63 0.54 71
------ ------- ------ ------- ------- -------- ----- --------------
with 51.66 55.93 4.18 1.63 100 52 Morning Star
------ ------- ------ ------- ------- -------- ----- --------------
78.64 83.39 4.75 0.04 82
------ ------- ------ ------- ------- -------- ----- --------------
SD-DH23-094 17.22 23.16 5.93 0.07
------ ------- ------ ------- ------- -------- -----
52.12 53.80 1.68 0.89 80 80
------ ------- ------ ------- ------- -------- -----
66.75 72.09 5.33 0.05
------ ------- ------ ------- ------- -------- -----
SD-DH23-095 68.64 72.24 3.6 0.04 62
------ ------- ------ ------- ------- -------- -----
SD-DH23-096 48.37 56.39 7.05 0.03
------ ------- ------ ------- ------- -------- -----
SD-DH23-097 75.29 76.23 0.94 0.12
------ ------- ------ ------- ------- -------- -----
97.99 101.59 3.60 0.04
------ ------- ------ ------- ------- -------- -----
SD-DH23-098 78.46 90.22 11.75 0.05
------ ------- ------ ------- ------- -------- ----- --------------
South Morning
SD-DH23-099 8.53 15.24 6.69 0.58 89 23 Star
26.27 27.37 1.10 0.10 160 266
------ ------- ------ ------- ------- -------- -----
31.03 36.58 5.55 1.03 99
------ ------- ------ ------- ------- -------- -----
SD-DH23-100 7.10 9.36 2.26 367
------ ------- ------ ------- ------- -------- -----
10.91 39.68 28.77 0.36 91
------ ------- ------ ------- ------- -------- -----
with 10.91 13.11 2.20 0.64 81
------ ------- ------ ------- ------- -------- -----
plus 16.15 19.20 3.05 0.68 123
------ ------- ------ ------- ------- -------- -----
and 32.92 39.68 6.76 0.82 145
------ ------- ------ ------- ------- -------- -----
SD-DH23-100 5.03 6.71 1.68 0.49 55 48
------ ------- ------ ------- ------- -------- -----
SD-DH23-101 13.56 15.85 2.29 0.30 80 58
------ ------- ------ ------- ------- -------- -----
18.80 20.85 1.37 0.12 58
------ ------- ------ ------- ------- -------- -----
SD-DH23-102 39.08 42.37 3.29 0.04
------ ------- ------ ------- ------- -------- -----
SD-DH23-103 7.32 14.02 6.70 0.07 77 41
------ ------- ------ ------- ------- -------- -----
SD-DH23-104 8.84 10.52 1.68 0.65 Morning Star
54.56 58.70 4.14 2.07 67
------ ------- ------ ------- ------- -------- -----
66.75 71.32 4.57 1.12 76 32
------ ------- ------ ------- ------- -------- -----
71.32 77.69 6.36 0.10 149
------ ------- ------ ------- ------- -------- -----
90.83 91.78 1.23 0.14
------ ------- ------ ------- ------- -------- -----
*All drill depths are from surface
Figure 2 : San Domingo Project, Target Locations
Figure 3 : Morning Star and South Morning Star drill holes,
pegmatites, targets and land
To close out the programme, the Company drill-tested two
distinct and unusually strong, soil geochemical anomalies
(Li-Cs-Rb) with holes collaring in greenstone, but the source of
the anomalies was not determined as no pegmatites were encountered.
One hole was located to the northeast of Morning Star (see Figures
3) and the other on the Monster target (Figure 2), northwest of
Jumbo.
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 Chief Operating Officer 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 38
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
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 and on the TSX Venture
Exchange with a ticker of BHLI.
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.
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.
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