Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) said the objectives from its drilling campaign at the San Domingo (SD) district in Arizona have been met and surpassed, as it published results from the second phase and ahead of a state of 3D modelling.
The company has also streamlined its corporate costs, executive chair Ian Stalker said, leaving it "well placed financially and geologically to be able to move with speed", though for now he said "we will continue with our 'steady as she goes' approach with no superfluous costs and intend to move back on the resource growth plan at Basin, Arizona".
The focus of these latest assays was on SD's Morning Star and Morning Star South targets, part of an 18,950 feet drilling program that Stalker highlighted covered less than 1% of the total property.
"These were the first two drilling programmes of any note undertaken at this historic and road-accessible lithium mining camp in the USA," he stated.
"In today's world the return on investment in these two campaigns has been substantial and we will build on this as we move forward."
The Morning Star pegmatites turned up results such as 4.14 metres (m) at 2.07% lithium oxide (Li2O) and 5.40m of 1.70% Li2O, which Stalker said suggested the pegmatites were emerging as "viable and potentially extractable near surface resources".
Additionally, the presence of tantalum, beryllium and tin, along with large, vertical pegmatite bodies, enhances the site's economic viability, while the discovery of pathfinder elements like tin and beryllium suggests Bradda Head could be positioned for potential open-cut mining.
More 3D modelling is planned and, based on what has been discovered to date, Stalker said this could significantly change the way the rest of the pegmatite trend is viewed within the 33 sq km property.