Business
Basin East Extension Permit Received
Basin East Extension Permit Received.
About this update from Bradda Head Lithium Limited
[{"type":"text","content":"\n \n \n \n 05 September 2022\n \n \n \n \n Bradda Head Lithium Ltd\n \n \n \n (\"Bradda Head\", \"BHL\", \"Bradda\", or the \"Company\")\n \n \n \n Basin East Extension Permit Received and Drilling to Commence in September\n \n \n \n \n \n \n Bradda Head Lithium Ltd (AIM:BHL, OTCQB:BHLIF), the North America-focused lithium development group, announces that it has received permission to drill at Basin East Extension (\"BEE\") in Arizona, which is adjacent to Basin East (BE) where Bradda has a of 305kt Lithium Carbonate Equivalent (LCE) JORC Resource.\n \n \n \n Highlights\n \n :\n \n \n ·\n Bradda Head has received permission to drill 120-holes at the Company's BEE State Lease. Drilling of the first phase (20 holes) is expected to commence in September.\n \n \n ·\n Sonic drilling, will be used, which has performed very well at the Company's clay assets this year, and also importantly uses far less water than traditional core drilling, whilst offering superior core recoveries for softer deposits like clay, enabling more accurate lithological domaining and assaying.\n \n \n ·\n Drilling will commence first at BEE with 20 holes. The Company will then conduct analysis on the results to optimise the follow-up programmes, before commencing drilling 10 holes at Basin North (BN) where permits have already been received (see PR dated 05 May 2022).\n \n \n ·\n Previous drilling at the neighbouring BE claims (where Bradda has a 305kt LCE JORC Resource) indicated that the Upper Clay Zone which includes a higher-grade seam, thickened at the northwest portion of BE, towards BEE (see RNS dated 26th January 2022) and Basin North (BN).\n \n \n ·\n Drilling results from BEE are expected to feed into a revised resource estimate at the Basin Project (\"Basin\") expected towards the end of 2022/early 2023. This will also form part of the resource for our Preliminary Economic Assessment (PEA), due to start in 2023.\n \n \n ·\n Bradda is targeting to grow its resources at its Basin project this year with the upcoming drill programmes at BEE and BN. Bradda has two royalty payments due from expanding its resources at its clay claims (see PR dated 22 December 2021). The next payment of US$2.5m is paid on Bradda expanding its resource base to 1Mt LCE (Lithium Carbonate Equivalent), and then the third payment of US$3m is achieved when Bra...