26th Jan 2022 14:10
Bradda Head Lithium Ltd - North America-focused lithium development - Announces final assay results from 100% owned Basin East project drilling conducted in November, identifying thicker sections of upper clay than anticipated.
The results include high-grade sections of 23.6 metres at 1,495 parts per million of lithium at hole BCE21-09, where total upper clay zone is 81.4m thick, and 18.2 metres at 1,395 ppm lithium at hole BCE21-08. Results show upper clay zone thickens in the west and northwest towards its other sites, and could yield higher-grade lithium than expected.
Bradda Head says the updated resource is due in the first quarter, and will be "significantly larger" than the current one.
"These further positive drilling results are incredibly encouraging with the presence of similar depths of the Upper Clay meaning that we can target that zone for a higher-grade resource than what we have currently. The results not only provide further confidence to our geological model but, we believe, also add value and the potential to add further resources to our previously-reported numbers of 185,000 tonnes of lithium carbonate equivalent," said Chief Executive Officer, Charles FitzRoy.
Current stock price: 13.20, up 10% on Wednesday
12-month change: up 130%
By Elizabeth Winter; [email protected]
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