REG - Bradda Head Lithium - Basin East MRE Uploaded to SEDAR

Bradda Head LithiumAnnouncement

03/03/2023 07:00

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RNS Number : 7433R  Bradda Head Lithium Ltd  03 March 2023

3 March 2023

 

Bradda Head Lithium Ltd

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

 

Basin East Mineral Resource Estimate Uploaded to SEDAR

 

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 16 January 2023, it has on 2 March 2023 filed a Technical Report
("Report") on SEDAR for the Mineral Resource Estimate ("MRE") for the
Company's Basin East ("BE") asset in Arizona.

 

The Report is available to be downloaded from Bradda Head's profile on SEDAR
at www.sedar.com. A copy of the Report is also available on the Company's
website, www.braddaheadltd.com (http://www.braddaheadltd.com) .

 

The BE MRE, reported by SRK Consulting (UK) Ltd ("SRK") was updated in January
2023 (see RNS dated 16 January 2023).

 

 

Highlights of the BE MRE:

·    Based on a 14-hole 1,177m sonic drilling programme completed in Q2
2022.

·    Resulted in a 22% increase in contained lithium carbonate equivalent
("LCE") tonnes

·    Indicated category of the MRE, all located in the upper part of the
deposit, was increased by c.17%.

·    Upper Clay zone expanded within the resource by 11% to 55 Mt at an
average grade of 840 ppm Li.

·    2022 infill and expansion drill programme has increased the drilled
area from 1.1km(2) to 1.4km(2) of BHL's claims in this district (see map:
https://www.braddaheadltd.com/media/image-library/
(https://www.braddaheadltd.com/media/image-library/) ).

 

 

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

 

Qualified Person - SRK

The Mineral Resource statement and the Report have 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. Mr. Wilkins consents to the inclusion
of the technical information in this release and context in which it appears.

 

Reference is made to the report entitled "Technical Report on the Mineral
Resource and Exploration Target Estimates for the Basin Lithium Project, USA
(the Report)" dated 28(th) February 2023 and which has an effective date of
13(th) October 2022. The Report was prepared by Martin Pittuck, CEng, MIMMM,
FGS, and Kirsty Reynolds MSci, PhD, FGS and reviewed by Nick Fox MSc, ACA,
MIMMM. The Report is available for review on SEDAR (www.sedar.com
(http://www.sedar.com) ).

 

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.

 

ENDS

 

 

Contact:

 Bradda Head Lithium Limited        +44 (0) 1624 639 396
 Charlie FitzRoy, CEO

 Denham Eke, Finance Director

 Beaumont Cornish (Nomad)           +44 20 7628 3396

 James Biddle/Roland Cornish

 Peterhouse (Joint Broker)          +44 207 469 0930
 Charles Goodfellow

 Duncan Vasey

 Lucy Williams

 Shard Capital (Joint Broker)       +44 207 186 9927
 Damon Heath

 Isabella Pierre

 Red Cloud (North American Broker)  +1 416 803 3562
 Joe Fars

 Tavistock (PR)                     + 44 20 7920 3150
 Nick Elwes                         braddahead@tavistock.co.uk

 Adam Baynes

 

 

 

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 21.2 Mt at an
average grade of 891 ppm Li and 3.5% K for a total of 100 kt LCE and an
Inferred Mineral Resource of 73.3 Mt at an average grade of 694 ppm Li and
3.2% K for a total of 271 kt LCE. In the rest of the Basin Project SRK has
estimated an Exploration Target of between 300 to 1,300 Mt of material
grading between 600 to 850 ppm Li which is equivalent to a range of between
1 to 6 Mt 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 Ventures 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 Resource  That part of a Mineral Resource for which 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.

 

Technical Glossary presents definitions given in the JORC Code; the Mineral
Resource definitions do not differ materially from equivalent definitions
given in the CIM Standard.

 

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", "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 SEDAR. 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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