Mobilization Of Drilling And Ancillary Equipment To Basin Project

Mobilization Of Drilling And Ancillary Equipment To Basin Project

BRITISH VIRGIN ISLANDS – Bradda Head Lithium Ltd (BHL) announced the mobilization of equipment to the Basin Project, Arizona to initiate Resource expansion drilling with a six-hole program designed to significantly expand the Company’s lithium in clay Mineral Resource Estimate (MRE). This follows the successful 2023 sonic drilling campaign which saw the “tripling” of BHL’s Inferred and Indicated MRE at Basin. This six-hole program will build upon Bradda Head’s 1.085MT Lithium Carbonate Equivalent (LCE) by drilling holes an additional 1.2 kilometers towards the north on newly permitted drill holes. The objective of this program is to add a minimum of 1.5MT LCE, surpassing the benchmark of 2.5MT LCE which will trigger the final US$3 million royalty payment from Lithium Royalty Company (LRC) to Bradda Head. The drilling program is anticipated to finish towards the end of April, 2024.