Bradda Head Holdings Ltd Update on Exploration Drilling at Burro Creek East (8962F)
July 21 2021 - 2:00AM
UK Regulatory
TIDMBHL
RNS Number : 8962F
Bradda Head Holdings Ltd
21 July 2021
21 July 2021
Bradda Head Holdings Ltd
("Bradda Head" or the "Company")
Update on Exploration Drilling at Burro Creek East
Bradda Head Holdings Ltd (AIM: BHL), the North America-focused
lithium development group, is pleased to announce a progress update
on drilling at the Company's Burro Creek East asset in Western
Arizona.
Highlights:
-- This fast-track programme has been designed to twin five
existing holes and drill five new holes to target resource
extension.
-- The diamond core drilling programme will test the extent and
thickness of the clay towards the northwest of the lithium
resource.
-- Drilling is targeting an increase in both resource size and
grade. Further metallurgical testing will increase clays processing
knowledge.
-- 141 meters have been drilled of a planned 991 metres.
-- First set of results expected in Q3 2021.
As included in the Company's recently published AIM Admission
Document, Bradda Head's diamond core exploration drilling programme
is underway at its Burro Creek East asset in Western Arizona. The
purpose of the programme is to twin five existing holes, which
didn't fully extend into the second layer of mineralised clay, and
to drill five additional holes to extend the resource and to test
the extent and thickness of the clay to the northwest of the
existing resource, where consultants SRK believe that the deposit
thickens. The Company aims to increase resource size and grade by
improving drilling recoveries (90%+, where previously was 60-80%)
and carry out further metallurgical testing to help increase
knowledge on the processing of clays at Burro Creek East.
The current programme commenced on 1 July 2021 with a total of
141 meters having been drilled of a planned 991 metres. Drill core
recoveries in the target formation in the first completed drill
hole averaged 93.1%. The drilled core will be tested at ALS
Geochemistry in Tucson, Arizona, as the programme progresses, with
the first results expected in Q3 2021.
Images of the progress at the Burro Creek East asset are
available online at:
https://www.braddaheadltd.com/media/image-library/
Charles FitzRoy, CEO of Bradda Head, commented:
"We are pleased to have commenced the exploration drilling
programme at Burro Creek East so shortly after our Aim listing It
highlights our drive to develop our resource base in Bradda Head to
match the obvious market lithium demand out there. This drilling
programme will bring greater information on the prospectivity of
the resource at depth and along strike. Core recoveries have been
very good, with the first holes' core recovery averaging at over
93%. This will give us more accurate resource estimation data,
compared to the previous 2018 Reverse Circulation (RC) drill
programme which suffered poor recoveries (60-80%).
"From SRK's studies, we also believe that the deposit thickens
as we progress towards the north-western end of Burro Creek East,
which gives us further cause to be optimistic on being able to
increase the size of the ore body.
"This fast track drilling programme was funded through the
company's existing pre-IPO cash reserves allowing us to move
quickly to secure drill rigs and get permits in place. The funds
raised at IPO have enabled us to commence progression of our plans
at Wikieup, Burro Creek West, and Bradda Head's brine and pegmatite
assets, enabling us to demonstrate the value in the ground at our
assets in Nevada and Arizona, and helping Bradda Head accelerate
its role in the crucial supply of lithium to US end-users."
For further information please visit the Company's website:
www.braddaheadltd.com
Contact:
Bradda Head Holdings 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
Oliver Lamb
Adam Baynes
Notes to Editors
Bradda Head Holdings Ltd is a North America-focused lithium
development group. The Company currently has interests in a variety
of projects, the most advanced of which are in Central and Western
Arizona: the Burro Creek East Project, the Burro Creek West Project
and the Wikieup Project.
The Burro Creek East Project in particular has an estimated an
Inferred Mineral Resource (JORC) of 42.6 Mt of lithium bearing
clays at an average grade of 818 ppm lithium for 185 Kt 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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