Bradda Head Lithium Ltd (AIM:BHL, OTC:BHLIF, TSX-V:BHLI) said almost half of its latest drilling programme at the Basin Project in Arizona is complete with ‘excellent’ early clay thicknesses identified from visual inspection.
Four wide space holes were drilled with 85m the average Upper Clay thickness, based on visual inspection of the drill core, and a range from 73m to 103m.
That compares to a previous average thickness of 80m excluding Basin East.
Assay results on all four holes are pending, added the statement..
Ian Stalker, Bradda head’s executive chair, commented: "Drilling the Basin North clays has been an exciting and promising program.
“Thus far; we're finding excellent clay thicknesses, as expected, and some clay depths have been shallower than anticipated, which is an encouraging result that supports the viability and potential of this project.”
Bradda Head’s aim through the drilling is to expand the resource at the Basin North portion of the project and boost the resource to a minimum of 2.5 million tons (MT) of lithium carbonate equivalent (LCE).
Achievement of this would generate a US$3 million royalty payment from Lithium Royalty Company (LRC).