23rd May 2023 11:08
(Alliance News) - Bradda Head Lithium Ltd on Tuesday said that it has received "encouraging" results from the first five drill holes of the Basin East extension drill programme in Arizona.
Bradda Head Lithium is a US-focused lithium exploration company.
It said that the first assays received back from this year's drill programme at Basin were very encouraging, with the highest grade and thickest high-grade upper clay unit sections seen to date.
Results included 63.12 metres at 954 parts per million lithium in BES-23-03, 66.92 metres at 1,077 parts per million in BES-23-04, and 63.71 metres at 944 parts in BES-23-05.
This data from the first five holes confirms that lithium bearing clay continues and thickens to the west, northwest and north into the Basin East lease, Bradda said.
It expects to provide the geological results of the remaining drill holes and assays when received, and a revised resource estimate after that.
"The analysis of holes five, six, and seven, which are the first holes Bradda has ever drilled to the north of the creek, is particularly exciting as it indicates the presence of a completely intact clay sequence which has been preserved by a basalt layer; meaning that the lithium bearing clays at Basin East extend across the creek and open up significant resource expansion potential. The assays for hole five support our blue-sky model for what we forecast at BEE and on to Basin West," said Chief Executive Officer Charles FitzRoy.
Bradda Head Lithium shares were trading 3.9% higher at 5.40 pence each in London on Tuesday morning.
By Holly Beveridge, Alliance News reporter
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