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Share Name Share Symbol Market Type Share ISIN Share Description
Bradda Head Lithium Limited LSE:BHL London Ordinary Share VGG154091083 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -0.66% 7.475 7.25 7.70 7.525 7.475 7.525 176,510 15:12:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining - - - - 22

Bradda Head Lithium Ltd Engagement of Wikieup Drilling Contractor

04/10/2021 7:00am

UK Regulatory (RNS & others)


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RNS Number : 8230N

Bradda Head Lithium Ltd

04 October 2021

04 October 2021

Bradda Head Lithium Ltd

("Bradda Head", "Bradda", or the "Company")

Engagement of Wikieup Drilling Contractor

Bradda Head Lithium Ltd (AIM:BHL), the North America-focused lithium development group, is pleased to announce, as part of its fast-track development programme at its Arizonan sedimentary lithium assets, that it has engaged drilling contractor Boart Longyear for a sonic drilling programme at the Company's Wikieup Project, starting in early Q4.

Highlights:

-- Bradda has now signed on Boart Longyear to start drilling at its Wikieup Project, which is adjacent to Hawkstone Mining Ltd.'s Big Sandy resource of 32.5Mt @ 1,850ppm Li.

-- As part of the fast-track development of our sedimentary lithium assets, Bradda has also accelerated its permitting at the Wikieup project and expect all remaining drilling permits to be received in early Q4.

-- Drilling contractor Boart Longyear is a world-renowned driller with experience using sonic rigs and drilling in sedimentary deposits.

-- Sonic drilling rigs are more environmentally sensitive than diamond core drilling rigs. Sonic drilling also has superior recovery in soft sedimentary rocks compared to diamond cored drilling.

-- Bradda is in the process of completing a drilling programme at its Burro Creek East asset where it has an inferred resource, with recent assay results demonstrating the potential for an increase in grade, tonnes and resource classification (PR 25/08/2021).

Bradda Head has engaged world-renowned drilling contractor Boart Longyear to carry out a sonic drilling programme at the Company's Wikieup clay project in Western Arizona, which is adjacent to Hawkstone's Big Sandy resource of 32.5Mt at 1,850ppm Li. Boart Longyear has extensive experience using sonic rigs and drilling in clay and in the United States. Sonic rigs are more environmentally sensitive compared to diamond rigs because they use less water, produce less waste and have superior recovery compared to core drilling, or RC.

Bradda is focussing on three areas at its Wikieup project (https://www.braddaheadltd.com/media/image-library/wikieup-2021-drilling-programme/) where its geologists have identified highly prospective areas with the potential for lithium mineralised clay, similar to what is found at Hawkstone's Big Sandy project. Surface sampling has identified grades up to 1,750pm Li on its Wikieup project claims and Bradda recently expanded its landholding at Wikieup from 12.9km(2) to 29.3km(2) due its geologists confidence in the prospectivity of the area. Bradda is now the largest landholder on the belt, and is conducting a geophysical programme at all of its sedimentary assets over the next few months, which will help in planning of future drill programmes and add to its geological model of the Wikieup-Burro Creek Lithium district.

Bradda is also in the process of completing a drilling programme at its Burro Creek East asset where it has an inferred resource, with recent assay results demonstrating the potential for an increase in grade, tonnes and resource classification (PR 25/08/2021). The results that have been received so far strengthen its geological model, and indicate the potential thickening of the higher-grade upper clay zone to the North and North-West of its Burro Creek East asset, towards the other Burro Creek assets (https://www.braddaheadltd.com/media/image-library/).

Charles FitzRoy, CEO of Bradda Head, commented:

"We are delighted to have engaged Boart Longyear to begin our fast-track sedimentary drilling programme at Wikieup. They have real pedigree when it comes to drilling in sedimentary deposits, and their sonic drilling technology is industry-leading, so we are very optimistic of efficient recoveries from this programme.

"Additionally, the sonic drilling technique's reduced water use and waste reduction makes our operations much more sustainable, so this engagement aligns well with Bradda Head's own commitment to sustainability and to supplying the EV revolution in the most environmental way possible.

We are excited to start drilling at our Wikieup Project, which is adjacent to Hawkstone's Big Sandy asset and has a resource of 32.5Mt at 1,850ppm Li. Bradda is focussing a large part of its IPO budget at Wikieup."

For further information please visit the Company's website: www.braddaheadltd.com

Contact:

 
 Bradda Head Lithium Limited      +44 (0) 1624 639 396 
 Charlie FitzRoy, CEO 
  Denham Eke, Finance Director 
 
 Beaumont Cornish (Nomad) 
  James Biddle/Roland Cornish     +44 20 7220 1666 
 
 Peterhouse (Joint Broker)        +44 207 469 0930 
 Charles Goodfellow 
  Duncan Vasey 
  Lucy Williams 
 
 Shard Capital (Joint Broker)     +44 207 186 9927 
 Isabella Pierre 
 
 Tavistock (PR)                   + 44 20 7920 3150 
 Nick Elwes                       braddahead@tavistock.co.uk 
  Adam Baynes 
 

Notes to Editors

Bradda Head Lithium Ltd. is a North America-focused lithium development group. The Company currently has interests in a variety of lithium projects, the most advanced of which are in Central and Western Arizona: the Burro Creek project (Burro Creek East Project, and the Burro Creek West Project) and the Wikieup Project.

The Burro Creek East Project has an estimated an Inferred Mineral Resource (JORC) of 42.6 Mt of lithium bearing clays at an average grade of 818 ppm of lithium for 185,000 tonnes of lithium carbonate equivalent (LCE). The Burro Creek East Project also has additional exploration potential for extensions to the current model of between 50,000 to 300,000 tonnes of lithium carbonate equivalent.

The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada and Pennsylvania.

All Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.

Bradda Head is listed on the AIM market of the London Stock Exchange with the ticker of BHL.

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