Bradda Head Lithium Ltd Announces Update on San Domingo Drilling Results

Rhea-AI Summary

Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF) has announced delays in receiving assay results from its San Domingo drilling program due to high demand at North American assay labs, exacerbated by the holiday period. Results are now expected to be available this quarter. As part of its TSX listing that began in November 2022, the company will participate in the upcoming PDAC mining conference in March 2023. Bradda Head is focused on advancing multiple lithium projects in Arizona and plans to release an updated presentation detailing its timelines for 2023. The company holds a 100% equity stake in its licenses and is working to unlock value from its assets.

Positive

• Bradda Head has a 100% equity stake in its lithium project licenses.
• The company's San Domingo drilling program has generated significant interest, indicating strong market demand for lithium.
• An updated presentation will detail upcoming material catalysts for 2023.

Negative

• Delays in assay results could hinder the company's ability to meet project timelines.
• High demand at assay labs indicates potential bottlenecks in project development.

BRITISH VIRGIN ISLANDS / ACCESSWIRE / January 26, 2023 / Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF), the North America-focused lithium development group, announces that further to its announcement of 21 November 2022 results from the Company's drilling programme at its San Domingo pegmatite district, due to exceptionally high levels of demand at the assay labs are now expected to be received this quarter.

Assay labs in North America are stretched in their capacity and the holiday period has further added to the existing delays. Bradda Head is looking forward to releasing results from the first drill programme at its San Domingo pegmatite district as soon as viable.

Bradda Head is due to open the TSX today in Toronto as part of its listing on the TSX-V last November, and will be also be back in Toronto attending the upcoming PDAC mining conference in early March.

2023 is going to be a busy year for the Bradda Head team with many material catalysts on the way. An updated presentation will shortly be available on the Company's website detailing the proposed timeline for the year-ahead.

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

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

ENDS

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
Damon Heath Isabella Pierre
Red Cloud (North American Broker)	+1 416 803 3562
Joe Fars
Tavistock (PR)	+ 44 20 7920 3150
Nick Elwes Adam Baynes	braddahead@tavistock.co.uk

About Bradda Head Lithium Ltd.

Bradda Head Lithium 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 Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.

The Basin East Project has an Indicated Mineral Resource of 21.2 Mt at an average grade of 891 ppm Li and 3.5% K for a total of 100 kt LCE and an Inferred Mineral Resource of 73.3 Mt at an average grade of 694 ppm Li and 3.2% K for a total of 271 kt LCE. In the rest of the Basin Project SRK has estimated an Exploration Target of between 300 to 1,300 Mt of material grading between 600 to 850 ppm Li which is equivalent to a range of between 1 to 6 Mt LCE. 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 of Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure. Bradda Head is quoted on the AIM of the London Stock Exchange with the ticker of BHL, on the TSX Ventures exchange with a ticker of BHLI, and on the US OTCQB market with a ticker of BHLIF.

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, following: The Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; delays in obtaining or failures to obtain required regulatory, governmental, environmental or other project approvals; political risks; future operating and capital costs, timelines, permit timelines, the market and future price of and demand for lithium, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices; delays in the development of projects, capital and operating costs varying significantly from estimates; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Bradda Head Lithium Limited

View source version on accesswire.com:
https://www.accesswire.com/736841/Bradda-Head-Lithium-Ltd-Announces-Update-on-San-Domingo-Drilling-Results

FAQ

What is the reason for the delay in assay results for BHLIF?

The delay in assay results for Bradda Head Lithium Ltd (BHLIF) is due to exceptionally high demand at assay labs in North America, compounded by the holiday period.

When will Bradda Head Lithium release its drilling results?

Bradda Head Lithium expects to receive and release results from its first drill program at the San Domingo pegmatite district within this quarter.

What are the company's plans for 2023?

Bradda Head Lithium plans to advance multiple lithium projects in Arizona, with an updated presentation outlining the 2023 timeline to be released soon.

How does the high demand for assay labs affect Bradda Head Lithium?

The high demand for assay labs may result in delays in receiving assay results, potentially hindering project timelines for Bradda Head Lithium.

What is Bradda Head Lithium focused on?

Bradda Head Lithium is focused on developing lithium projects in North America, particularly in Arizona.