Business
Unaudited Results for 3 months ended 31 May 2024
Unaudited Results for 3 months ended 31 May 2024.
About this update from Bradda Head Lithium Limited
[{"type":"text","content":"\n\n24 July 2024\nBradda Head Lithium Ltd\n(\"Bradda Head\", \"Bradda\", or the \"Company\")\nUnaudited Quarterly Results and MD&A for the three-month period ended 31 May 2024\n \nBradda Head Lithium Ltd (AIM: BHL, TSXV:BHLI), the North America-focused lithium development group, is pleased to announce that it has today published its unaudited financial results for the three-months ended 31 May 2024, and the Management's Discussion and Analysis for the same period. \nBoth of the above have been posted on the Company's website www.braddaheadltd.com and are also available on SEDARplus (www.sedarplus.ca/landingpage).\n \nFinancial and operational highlights\n· Successfully completed a follow-up drill programme at its Basin North lithium in clay project in Arizona, USA. A total of eight holes drilled, with an average hole depth of 285 meters (934 feet) with a range of 231 to 387 meters (757 to 1,269 feet), with a total of 2,353 meters (7,720 feet) drilled;\n· Thickest Upper Clay unit at 103 meters in the center of the drill pattern discovered at hole BND24-19;\n· Post period end on July 1, 2024, the Company announced a new MRE at the Company's 100% owned Basin Project, with a total of 2.834 MT of LCE;\n· As per the Gross Overriding Royalty Agreement with the Lithium Royalty Company (\"LRC\"), the new contained LCE Tonnage surpassed the contracted threshold of 2.5Mt and has enabled the Company to trigger the payment of US$3.0 million from LRC to Bradda Head, with funds being received on 8 July 2024;\n· Received channel sampling results from its San Domingo program, which included 5.00 meters of 2.33%, 4.10 meters of 2.81%, and 4.00 meters of 1.26% Li2O at the White Ridge Target and 5.30 meters of 1.25% Li2O at Morning Star.\n \nIan Stalker, Chairman of Bradda Head, commented:\n \n\"Bradda Head maintained maintained the Company's aggressive exploration philosophy by drilling 2,353 meters at the Basin project with the intention of expanding the 2023 MRE from 1.08MT LCE to over 2.5MT LCE. We successfully completed eight core holes in strategic locations across Basin North and post period end, the strategy was valid...