Bradda Head provides drilling update at Arizona project

This current drilling programme is focused on resource expansion at the Basin North portion of the project. The target is a resource expansion from 1.08 to a minimum of 2.5 million t of lithium carbonate equivalent (LCE). Achievement of this would generate a US$3.0 million royalty payment from Lithium Royalty Company (LRC).

The first four holes have been logged, sampled, and shipped to the laboratory while drilling of the fifth hole is in progress. Results on all four holes are pending. A further 3 holes are planned.

Highlights:

• The Company has completed four widely spaced holes for a total of 4330 ft from a planned programme of 8800 ft.
• The average Upper Clay thickness, based on visual inspection of the drill core extracted, between the four holes is 85 m, ranging from 73 m to 103 m (previous average thickness, excluding Basin East, is 80 m).
• Hole 19 has encountered the thickest-ever Upper Clay sequence at 103 m, potentially demarking the depositional centre.
• Holes 16 and 18 have encountered Upper Clay shallower than anticipated, yet maintain good thicknesses, hole 17 was abandoned due to poor drilling conditions at a shallow depth and has now been offset and currently being redrilled as hole number 20.
• The four holes (BND24-15, 16, 18, & 19) have encountered between 7 and 37 m of Lower Clay, a strong indication of continuity from Basin East, located 2.0 km to the southeast.
• A 7th hole will be added to the south of Basin North, twinning last year's sonic hole BES23-11, which cut 88.70 m of upper clay averaging 903 ppm and 12.51 m of high grade at 1427 ppm, but did not penetrate the Lower Clay.
• The programme is scheduled to complete in early May with an updated 43-101 Resource to follow once all assays have been received, for which Bradda Head is targeting early June.

Ian Stalker, Executive Chair, commented:

“Drilling the Basin North clays has been an exciting and promising programme. Thus far; we’re finding excellent clay thicknesses, as expected, and some clay depths have been shallower than anticipated, which is an encouraging result that supports the viability and potential of this project.

“We have successfully now completed nearly half of the planned program, bringing Bradda Head increasingly closer to achieving the significant milestone of our target of resource 2.5MT, and unlocking the next royalty payment of US$3 million from LRC.

“We look forward to providing further updates in due course.”

Read the article online at: https://www.globalminingreview.com/mining/17042024/bradda-head-provides-drilling-update-at-arizona-project/