Business
Commencement of Drilling at Basin Project
Commencement of Drilling at Basin Project.
About this update from Bradda Head Lithium Limited
[{"type":"text","content":"\n\n\n \n \n12 March 2024\n \nBradda Head Lithium Ltd\n(\"Bradda Head\", \"BHL\" or the \"Company\")\n \nCommencement of Drilling at Basin Project, Targeting 2.5MT LCE\nStock Option Plan Approval\n \n \nBradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI), the North America-focused lithium development group, is pleased to announce the commencement of drilling at its Basin Project, Arizona. As indicated in the Company's March 4, 2024 announcement, Bradda Head initiated and then mobilised equipment to the Basin North side of the project and has commenced drilling. The six-hole program is designed to significantly expand the Company's lithium in clay Mineral Resource Estimate (\"MRE\").\n \nAs previously described, this six-hole program will build upon Bradda Head's 1.085MT Lithium Carbonate Equivalent (\"LCE\") by drilling holes 1.2 kilometers towards the north on newly permitted drill holes. The objective of this program is to add a minimum of 1.5MT LCE, surpassing the benchmark of 2.5MT LCE which will trigger the final US$3 million royalty payment from Lithium Royalty Company (\"LRC\") to Bradda Head. The drilling program is anticipated to finish towards the end of April, 2024.\n \nProgram Summary:\n \n· Six-hole core drilling program of approximately 8,800 feet (2,680m) planned\n· Program anticipated to expand LCE from 1.085MT to >2.5MT\n· Step-out drill holes at 500 to 700m spacing to maintain Inferred category of MRE\n· One hole will be drilled into Precambrian basement in center of gravity low\n· Gravity low may represent extensively thick clays both in the Upper, Lower, and Basal Red-Beds\n· Holes will test Lower Clay to expand tonnage potential and thicker sequence correlative with gravity low which also has the potential for exceptional lithium grades\n \nThis program is focused on significantly thicker clay sequences, consistent if not higher lithium grades and thicker lower clay sequence, with the potential to also discover new clays within the nearly 2km2 gravity low. Like previous drilling programs conducted at Basin, drill holes will be vertical, but when clay horizons are encountered the Company's plan is to convert to a triple tube core capture technique...