Bradda Head Lithium Ltd (AIM:BHL, OTC:BHLIF, TSX-V:BHLI) hailed its aggressive exploration programme following its recent US$3 million milestone payment for achieving a 2.5 million tonne resource at its Basin project in Arizona.
Ian Stalker, chairman, said: "Bradda Head maintained the company's aggressive exploration philosophy by drilling 2,353 meters at the Basin project.
“Further exploration on our pegmatite project also kicked off with excellent channel sample results from our White Ridge, Morning Star, and Midnight Owl targets.
“The results highlight the surface mineralization that can be leveraged into potential open-cut mining in the future and also link up to nearby drill hole intercept, creating excellent opportunities once a robust resource is potentially defined.
“We continue dialogue with third parties and examination of our oil brine projects in Pennsylvania and Texas, along with the Nevada brine projects to align with expanding DLE initiatives across the industry. "
Losses in the three months to end May 2024 were US$569,000 (US$1.09 million in the previous year).