REG - Bradda Head Lithium - Claim Exchange Completed at Wikieup

Bradda Head LithiumAnnouncement

28/02/2024 07:00

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RNS Number : 6751E  Bradda Head Lithium Ltd  28 February 2024

 

 

 

 

28 February 2024

 

Bradda Head Lithium Ltd

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

 

Claim Exchange Completed at Wikieup

 

Bradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI), the North America-focused
lithium development group, announces finalisation of the land exchange over
the unpatented lode claims at the Wikieup clay project in Western Arizona as
initially notified by the Company on 1 March 2023. This exchange is mutually
beneficial to both parties avoiding litigation and disruption of exploration
activities on highly perspective clay-hosted claims. As such, Bradda Head will
retain 66 new claims equating to 1,302 acres (5.27 km(2)), which the Company
staked in early 2019, and held in its subsidiary Zenolith (USA) LLC. In turn,
Bradda has transferred 55 unpatented lode claims to Arizona Lithium's
subsidiary, Big Sandy Inc., to the amount of roughly 1,136 acres (4.60 km(2)),
per the terms of this settlement. This transaction is now legally binding
pursuant to the Company's announcement on 1 March 2023 ('Settlement of Claim
Dispute with Arizona Lithium'), and the exchange of claims has been completed
by mutual agreement and all legal documents have been filed with both the BLM
and respective county in Arizona to cement the transaction.

 

This final exchange furthers Bradda's exposure to high-quality lithium-in-clay
targets (proximal at < 1.0km to Arizona Lithium's Big Sandy clay discovery)
and further enhances the Company's portfolio of this high-quality project. The
new ground will, in due course, be explored with geological mapping and
surface sampling for opportunities, developing priority drill targets
potentially for later in year.

 

Ian Stalker, Executive Chair, commented:

"We thank Arizona Lithium and the countless hours of time undertaken to settle
this matter without litigation and allow both companies to proceed with
unobstructed exploration on their respective claim groups. This is new ground
that has significant upside potential within the large, lithium-bearing
clay-rich lacustrine basin and Bradda plans to capitalise on the finalisation
of this settlement with renewed surface exploration."

 

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

 

 

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.

 

ENDS

 

 

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.

 

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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