Bradda Head Lithium Ltd has announced that, following the receipt of drilling permits, drilling has now commenced at its Eureka project in Nevada and that certain members of the Board and management have been awarded share options.
- Drilling commenced on 19 April on a 23-hole programme, designed to test the shallow clay potential at Eureka.
- Previous surface sampling carried out by Bradda Head geologists identified grades of up to 550 ppm Li at Eureka. This programme is designed to test the potential for a shallow clay project at surface, similar to Bradda’s other clay assets in Arizona (Wikieup and Basin).
- Previous geophysics surveys were carried out by Zonge Engineering and Terravision Exploration, the results of which demonstrate the potential presence of both brine and clay deposits at Eureka, which is located in Central Nevada, not far from Tesla’s Gigafactory and Albemarle’s existing Silver Peak Lithium mine, notably the only US lithium mine in operation currently.
- Surveys in 2016 also showed geothermal potential at Eureka, which could be used to lower the carbon footprint of lithium production at Eureka.
- Issue of 9.2 million options to certain Directors and Management at an exercise price of 18 pence per share.
Charles FitzRoy, CEO of Bradda Head Lithium, comments:
“We are delighted to start drilling at Eureka, our third drill programme since IPO, where we have some promising geophysical data, and surface sampling results indicating potential for a clay deposit, as well as potentially a brine deposit. This reiterates our position as an explorer developing our unique exposure across multiple lithium deposit types.
“Additionally, at Eureka, there is some very advantageous geothermally-heated water with anomalous lithium levels at surface, which also presents opportunities for lower carbon lithium production, aligning very well with our ESG objectives.
“2022 has already been a very strong year for Bradda Head, with the updated Basin MRE indicating an exploration target of up to 6 million t LCE, the positive metallurgical testwork results from Basin East demonstrating the potential to extract 99% of lithium from leach and our recent US$12.9 million fundraise to help fast-track our exploration programmes.
“This continues to be a very busy and exciting time for all of us at Bradda Head as we push forward in this lithium-hungry market space and with our goal of supplying low-carbon lithium to the US battery sector.”
Read the article online at: https://www.globalminingreview.com/mining/20042022/bradda-head-lithium-commences-drilling-at-eureka/