US-focused lithium explorer Bradda Head successfully build pegmatite and clay resource in Arizona

Charlie FitzRoy, CEO at Bradda Head Lithium joined #LondonSouthEast live to present and take questions at our July London South East/focusIR webinar, and Charlie updated the strategy for us in some detail.

Bradda Head are exploring for lithium in the United States, and are looking at hard rock pegmatites, sedimentary clays and brines, the three different types of lithium deposit. The company is listed in Canada, London and the US, and has a current market cap of £15M.

The company announced their latest drilling results at Basin East yesterday, with successful assay results from 5 new drill holes showing that the programme has continued to encounter better-than-expected thicknesses of clay confirming that lithium-bearing clays thicken to the west, northwest and north into the Company’s BEE lease with probable extensions into adjoining Basin North (“BN”), and Basin West (“BW”) claims. These positive indicators are expected to lead to significant resource expansion for the Company this year. It is important to note that a royalty payment of $2.5M gets triggered when the company gets to 1M LCE (Lithium Carbonate Equivalent). “We have huge potential there. The Basin Project is probably a company builder in itself.” explained Charlie.

Bradda Head are about to drill at San Domingo again, the second time in 12 months, and are focused in delineating pegmatite hard rock resource there, moving towards a technical study (PFS) which will allow them to approach the US Government for funding. “The pegmatite will be easier for us to get into production” said Charlie.

The Company remains well funded with a strong cash balance of £5.4 million as at 31 March 2023, and has an extensive drill programme planned to start shortly at its San Domingo pegmatite district in Arizona that the Board believe will generate material catalysts for the company.

Charlie confirmed they will not look at Brine in Nevada this year and will focus on San Domingo and the Basin project instead.

#BHL #CharlieFitzRoy #Jim Mellon #Lithium #Arizona #pegmatite #BraddaHeadLithium #AIM #TSXV #OTCQB #US