REG - Bradda Head Lithium - San Domingo Update

Bradda Head LithiumAnnouncement

13/11/2023 07:00

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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)O %  Ta(2)O(5)  Sn (ppm)  Target
 SD-DH23-048  19.42   36.24   16.82              73                   Midnight Owl
              26.3    26.3    9.12               105

 SD-DH23-049  87.33   93.67   6.35     0.83                           Midnight Owl
              89.18   94.34   5.16                          80
              97.9    102.17  4.27                          82
              98.6    101.65  3.05     1.03                 71

 SD-DH23-050  98.02   101.89  3.87               70                   Midnight 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 (http://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.

 

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
 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 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.
 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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