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Bradda Head Lithium Ltd (BHLIF) is a North America-focused lithium development group with interests in projects in Central and Western Arizona, including the Basin Project and the Wikieup Project. The company has recently mobilized drilling equipment at the Basin Project to expand its lithium resource estimate, targeting a minimum of 2.5 million tons of Lithium Carbonate Equivalent (LCE). The drilling program aims to triple the current Inferred and Indicated Mineral Resource Estimate (MRE) and trigger a US$3 million royalty payment from Lithium Royalty Company (LRC). The successful completion of this program will position Bradda Head well in the softened lithium market for the remainder of 2024.
Bradda Head Lithium Ltd. announced the acquisition of 100% of three inlier claims at the Central San Domingo pegmatite district in Arizona. This acquisition, covering approximately 60 acres, comes after encouraging results from recent drilling, including visible spodumene in several drill holes. The claims allow complete exploration of the surrounding area, enhancing the company’s potential lithium resource base. Notably, historic mining in the area yielded an estimated 155 tonnes of lithium with a 5.3% Li2O grade. The company’s Phase 3 drill program is set to commence later this year, aiming to further assess the 9km mineralized trend identified. Recent drilling results indicated significant lithium intersections, confirming the district's potential. CEO Charles FitzRoy expressed confidence in the acquisition's strategic importance and the ongoing lithium exploration efforts.
Bradda Head Lithium Ltd. announces the issuance of options to its directors and operational team, pending approval at the next AGM. A total of 4,800,000 options has been granted, equating to 1.2% of the company's issued share capital at an exercise price of £0.06 (C$0.10), a 22% premium to market close on April 6, 2023.
The options vest immediately upon approval, have no performance conditions, and can be exercised over five years. In total, 37,831,304 options now exist, representing 9.7% of the company's capital. Approval is required from the TSX Venture Exchange and shareholders, with a meeting anticipated in September 2023. Failure to obtain this approval will result in the termination of the options.
Bradda Head Lithium Ltd. announced significant results from its diamond core drilling program at the San Domingo pegmatite district in Arizona. The maiden drilling campaign, first in decades, successfully located high-grade lithium-bearing minerals in 60% of the drilled holes, covering just 1% of the 23km² area. Key assay results include multiple high-grade intersections such as 9.54m @ 1.85% Li2O. The program, totaling 7,300m, underlines the district's potential for extensive lithium resources, with further drilling planned for H2 2023. The company aims to capitalize on the U.S. lithium market, aligning with the nation’s $135bn investment in EV supply chains.
Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF) reported significant changes in shareholdings following two TR1 notifications. As of March 12, 2023, Electrification and Decarbonization AIE LP (E&D) retains 28,400,000 shares, while Lithium Royalty Corp. (LRC) transferred all 19,481,475 of its shares to Li Equities Investments LP, managed by Waratah Capital Advisors. Post-transfer, LRC holds no shares in Bradda Head. This announcement includes inside information under the Market Abuse Regulation.
Bradda Head Lithium Ltd (BHLIF) has commenced its 2023 sonic drilling program at the Basin Project in Arizona, aiming to enhance its existing compliant lithium resources. The program will involve drilling up to 25 holes across the 17km2 area, which currently houses a mineral resource of 371kt of Lithium Carbonate Equivalent (LCE). The future exploration could see the resource expand towards the adjacent Basin East Extension and Basin North areas. The company is using environmentally sensitive sonic drilling methods and aims for a resource upgrade in Q3 2023.
Bradda Head Lithium Ltd (BHLIF) has filed a Technical Report on SEDAR regarding its Basin East Mineral Resource Estimate (MRE) for the project in Arizona, updated as of March 2, 2023. Highlights include a 22% increase in contained lithium carbonate equivalent (LCE) tonnes and a 17% increase in the indicated resource category. The upper clay zone has expanded by 11% to 55 Mt with an average grade of 840 ppm Li. The drilling program has extended the area assessed from 1.1 km² to 1.4 km². The comprehensive report is accessible via the company’s profile on SEDAR and its official website.
Bradda Head Lithium Ltd (BHLIF) has uploaded an updated claims map on its website after successful mediation with Arizona Lithium (AZL). The company now possesses approximately 46 km2 of sedimentary claims in Arizona. Bradda Head is actively developing lithium projects in Arizona, including the Basin Project, which has an Indicated Mineral Resource of 21.2 million tonnes at an average grade of 891 ppm Li and a total of 100 kt LCE. The company aims to advance its projects while maintaining a 100% equity across its licenses. The updated claims map is available on their website.
Bradda Head Lithium Ltd (BHLIF) announced the conclusion of a mediation process initiated in 2021 regarding federal unpatented mining claims in Mohave County, Arizona, resolving a dispute with Arizona Lithium Limited (AZL). The agreement includes a claim exchange where Arizona Lithium will transfer 66 claims to Bradda Head, while Bradda Head will transfer 55 claims to Arizona Lithium. Both parties will promote reasonable access to retained claims, facilitating ongoing development. The Company emphasized that the transfer does not materially affect the development of its Wikieup lithium project.
Bradda Head Lithium Ltd. (BHLIF) has appointed Joseph (Joey) Wilkins as Chief Operating Officer (COO) effective immediately. Wilkins, an experienced geologist, has previously held key positions at various mining companies including Coeur Mining and Aztec Minerals. He brings extensive knowledge in lithium and other commodities, particularly in Arizona and Nevada. Wilkins replaces Jim Guilinger, who has been with the company since 2016. CEO Charles FitzRoy expressed gratitude for Guilinger's contributions and excitement about Wilkins' addition to the management team, highlighting planned projects for 2023.
Bradda Head Lithium Ltd. has reported promising results from its initial diamond core drilling program at the 23km2 San Domingo lithium pegmatite district in Arizona. Significant lithium mineralization was found, with highlights including a 31.85m interval at 1.60% Li2O. Currently, 5,700m of a planned 7,000m drilling campaign have been completed, and lithium-bearing minerals were observed in approximately 75% of the drilled holes. The company is expanding exploration efforts, including a detailed soil survey, to enhance future drilling programs. Results for half of the 36 holes drilled are still pending, with an expectation to complete the current phase by the end of February 2023.
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