Bradda Head Lithium all cashed up and ready to drill pegmatites and clays in the USA

BEE is adjacent to Basin East where Bradda Head has a 305,000 tonne lithium carbonate equivalent resource

Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF) said it has received permission to drill 120 holes at the Basin East Extension (BEE) in Arizona and it plans to start drilling the first phase, consisting of 20 holes, this month.

BEE is adjacent to Basin East (BE) where Bradda has a 305,000 tonne lithium carbonate equivalent (LCE) JORC-compliant resource.

The group said it will use sonic drilling, which performed very well at its clay assets this year, as it uses a lot less water than traditional core drilling and offers superior core recoveries for softer deposits like clay.

The company said it plans to conduct analysis on the results from the initial 20 holes to optimise the follow-up programmes before starting to drill 10 holes at Basin North (BN).

“The award of the BEE drilling permit is yet another great piece of news for Bradda Head,” said the company's chief executive Charles FitzRoy. “Our decision to drill at BEE is based on a continuation of the exploration at Basin where we are aggressively targeting resource expansion, which will feed into a PEA [preliminary economic assessment] we plan to commence in 2023.”

The AIM-traded company is due to receive two royalty payments from Lithium Royalty Corp (LRC) when it meets certain resource expansion targets. A payment of US$2.5mln will be paid when the resource grows to 1 million tonnes LCE and a further payment of US$3mln will be paid when Bradda expands its resource base to 2.5 million tonnes LCE.

Bradda said it is working to hit those targets as soon as is feasible.

"Crucially, Bradda Head is fully-funded to complete the pipeline of planned exploration drilling, and we are confident that this current BEE programme will provide strong results to enable us to continue with our plans at Basin,” said FitzRoy. “Alongside of Basin we are also drilling at our San Domingo pegmatite district in Arizona, with results expected to follow very shortly."

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Bradda Head Lithium Ltd's (Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF)) CEO, Charles FitzRoy, discusses its recent 'significant' lithium intercept at San Domingo in Arizona. Having just returned from the site, Fitzroy explained the importance of the early success from its 7,000m drill...

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