Bradda Head Lithium Ltd - Replacement: San Domingo Update

Rhea-AI Summary

Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF) announces initial results from core drilling at San Domingo, Arizona. The drilling program is 65% complete, with grades of up to 0.83% Li2O over 6.35m and 1.03% Li2O over 3.05m identified. New lithium-bearing pegmatite zones discovered at the Midnight Owl and Bolt targets, with tantalum and tin coinciding with pegmatites. The elevated Ta and Sn levels show strong comparisons to LCT-type systems found in Western Australia, pointing towards an LCT-type system. Additional holes at Bolt are in the planning stages. Core drilling continues at the Morning Star, Jumbo, White Ridge, and Joker targets. Encouragement from visual lithium mineralization at these targets.

Positive

• The drilling program is 65% complete, indicating progress in exploration and development. Initial results show grades of up to 0.83% Li2O over 6.35m and 1.03% Li2O over 3.05m, indicating the presence of valuable lithium-bearing pegmatite zones. The discovery of tantalum and tin coinciding with pegmatites is a positive sign, suggesting potential for a robust lithium pegmatite district.

Negative

• None.

THIS ANNOUNCEMENT REPLACES THE ANNOUNCEMENT " PHASE 2 DRILLING IDENTIFIES NEW LITHIUM-BEARING PEGMATITE ZONES AT SAN DOMINGO" OF 13 NOVEMBER 2023.

· In figure 3: Bolt cross-section and drill hole SD-DH23-057, looking northwest - one of the captions in the image read 5.27m at 5.27%, but should read 5.27m at 0.51%.

· New Bolt target drill hole locations (SD-DH23-057 and SD-DH23-059) have been included.

All other text remains the same.

Phase 2 drilling identifies new lithium-bearing pegmatite zones at San Domingo

BRITISH VIRGIN ISLANDS / ACCESSWIRE / November 20, 2023 / Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF), the North America-focused lithium development group, announces initial results from core drilling at San Domingo, Arizona. This is the first set of assays released from the Company's current 6,100m (20,000 ft) programme, which is 65% complete. So far, assays have been received from only 14 holes totalling 993m, with grades of up to 0.83% Li₂O over 6.35m and 1.03% Li₂O over 3.05m identified.

Summary:

· Preliminary core drilling was conducted at Midnight Owl, Bolt, and Lone Giant in the northern part of San Domingo, amounting to 1,877m in 22 shallow core holes

· This programme is follow-up core drilling to Midnight Owl's previous programme that encountered 31.85m @ 1.60% Li₂O in hole SD-DH22-024 at a depth of 26.82m

· Drill hole SD-DH23-049 at the Midnight Owl target discovered a new zone deeper than found in hole 24:

o 6.35m containing 0.83% Li₂O at 87.33m depth

o 3.05m of 1.03% Li₂O at 98.60m depth

· Results from Midnight Owl also revealed tin and tantalum coinciding with pegmatites and lithium mineralisation

· Drill holes at the new Bolt target, located 800m east of Midnight Owl include:

o 5.27m at 0.51% Li₂O within a broader interval of 24.65m carrying 0.24% Li₂O in SD-DH23-057

o 5.87m containing 0.48% Li₂O contained within 11.8m of 0.32% Li₂O in SD-DH23-059

· Core holes at Bolt have detected anomalous levels of tantalum with intervals coincident to the lithium intercepts

Ian Stalker, Executive Chair, commented:

"Our knowledge of this intriguing spodumene-rich pegmatite district grows as we announce our second phase drilling results, which auger well for future development. The initial batch of drill hole geochemistry provides us with an improved understanding of pegmatite characteristics and mineralogical zoning at San Domingo, particularly at the Midnight Owl and Bolt targets.

"The elevated Ta and Sn levels show encouragingly strong comparisons to LCT-type systems, evidence of our robust lithium pegmatite district. Importantly, both Midnight Owl and Bolt targets continue to provide opportunities to expand on the lithium mineralisation, with the goal of defining near surface resources."

See Table 1 below for a summary of results and Figures 1, 2, and 3 for map and cross-sections.

The new Bolt target at San Domingo was found through soil sampling and surface mapping (see announcement dated 15 August 2023). It is important to note that the drill hole geochemical signatures correspond to LCT (lithium-caesium-tantalum) type found in Western Australia at the Kathleen Valley Project. The combination of lithium and tantalum strongly points towards an LCT-type system. Additional holes at Bolt are in the planning stages, although the Company continues to review and interpret the new geochemical results to pinpoint future drilling targets.

Diamond core drilling continues at the Morning Star target with five holes recently completed and several more planned. Both Jumbo and White Ridge targets have undergone a second phase of drilling, with 19 holes drilled over a total of 1,740m. The drilling also includes holes drilled at Joker, where pegmatites contain finer-grained spodumene throughout the extent of the pegmatites. The long intervals of spodumene-bearing pegmatites seen at Jumbo, White Ridge, Joker, and now at Morning Star provide encouragement from the visual lithium mineralisation, although we await laboratory geochemical results.

Table 1: San Domingo North Drill Hole Highlights

Hole	From	To	Int (m)	Li2O %	Ta2O5	Sn (ppm)	Target
SD-DH23-048	19.42	36.24	16.82		73		Midnight Owl
	26.3	26.3	9.12		105
SD-DH23-049	87.33	93.67	6.35	0.83			Midnight Owl
	89.18	94.34	5.16			80
	97.9	102.17	4.27			82
	98.6	101.65	3.05	1.03		71
SD-DH23-050	98.02	101.89	3.87		70		Midnight Owl
SD-DH23-057	18.07	42.73	24.65	0.24	47		Bolt
	34.35	39.62	5.27	0.51	58
SD-DH23-059	2.80	40.23	39.37		37
	27.13	28.35	1.22	0.17
	47.43	52.97	5.54		92		Bolt
	68.03	79.86	11.8	0.32	42
	68.03	73.91	5.87	0.48	43
SD-DH23-061	134.57	136.25	1.52	0.52			Bolt
	134.57	138.56	4.00		72
SD-DH23-065	1.52	9.45	7.93	0.10	45
	3.35	4.88	1.52	0.31			Bolt
SD-DH23-066	28.9	32.13	3.23		127		Bolt

*All drill depths are from surface

Figure 1: San Domingo North drilling, pegmatites, and target areas

Figure 2: Midnight Owl cross-section, looking northwest

Figure 3: Bolt cross-section and drill hole SD-DH23-057, looking northwest

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

QAQC

Core samples were split on site and bagged with sample tracking tags. Samples were shipped by the Company directly to SGS Laboratories in Burnaby, B.C., Canada where SGS prepped then analysed all samples using sodium peroxide fusion combined ICP-AES and ICP-MS, method GE_ICM90A50. Certified standards were inserted into the sample stream and reviewed by the Qualified Person. Mr. Wilkins consents to the inclusion of the technical information in this release and context in which it appears.

Qualified Person (BHL)

Joey Wilkins, B.Sc., P.Geo., is Head of North America at BHL and the Qualified Person who reviewed and approved the technical disclosures in this news release. Mr. Wilkins is a graduate of the University of Arizona with a B.Sc. in Geology with more than 37 years of experience in mineral exploration and is a qualified person under the AIM Rules and a Qualified Person as defined under NI-43-101. Mr. Wilkins consents to the inclusion of the technical information in this release and context in which it appears.

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
Ian Stalker, Executive Chairman Denham Eke, Finance Director
Beaumont Cornish (Nomad)	+44 (0) 2076 283 396
James Biddle / Roland Cornish
Panmure Gordon (Joint Broker)	+44 (0) 2078 862 500
John Prior / Hugh Rich
Shard Capital (Joint Broker)	+44 (0) 2071 869 927
Damon Heath / Isabella Pierre
Red Cloud (North American Broker)	+1 416 803 3562
Joe Fars
Tavistock (Financial 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 17 Mt at an average grade of 940 ppm Li and 3.4% K for a total of 85 kt LCE and an Inferred Mineral Resource of 210 Mt at an average grade of 900 ppm Li and 2.8% K (potassium) for a total of 1.09 Mt LCE. In the rest of the Basin Project SRK has determined an Exploration Target of 250 to 830 Mt of material grading between 750 to 900 ppm Li, which is equivalent to a range of between 1 to 4 Mt contained 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 Venture Exchange with a ticker of BHLI, and on the US OTCQB market with a ticker of BHLIF.

Technical Glossary

Kt	Thousand tonnes
Ppm	Parts per million
Exploration Target	An estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource.
Inferred Mineral Resource	That part of a Mineral Resource for which quantity and grade (or quality) are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological grade (or quality) continuity. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings, and drill holes. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to an Ore Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
Indicated Mineral Resource	That part of a Mineral Resource for which quantity, grade (or quality), densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings, and drill holes, and is sufficient to assume geological and grade (or quality) continuity between points of observation where data and samples are gathered.
Sn	Tin
Ta2O5	Tantalum pentoxide

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", "intends to", "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 plus. 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

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FAQ

What are the initial results from core drilling at San Domingo, Arizona?

The initial results from core drilling at San Domingo, Arizona show grades of up to 0.83% Li2O over 6.35m and 1.03% Li2O over 3.05m, indicating the presence of valuable lithium-bearing pegmatite zones.

What type of systems do the elevated Ta and Sn levels at the Bolt target point towards?

The elevated Ta and Sn levels at the Bolt target point towards LCT (lithium-caesium-tantalum) type systems, showing strong comparisons to those found in Western Australia.

What targets are undergoing core drilling?

The Morning Star, Jumbo, White Ridge, and Joker targets are undergoing core drilling. Encouragement is derived from visual lithium mineralization at these targets.