Bradda Head Lithium Ltd (AIM:BHL, OTCQB:BHL) said final assays from its wholly owned Basin East project in Arizona are “incredibly encouraging”.
The drill programme was completed in November and the final batch of results, for the last of four of ten holes, identified thicker intersections of Upper Clay than anticipated and included high grade sections - including 23.6 metres with lithium measured at 1,495 parts per million (ppm).
It gives Bradda’s geologists ‘much greater clarity’ to understand the structure of the lithium-containing clay at Basin East, the company told investors.
"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,” chief executive, Charles FitzRoy, said.
“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 185kt of LCE.”
Bradda highlighted that the results indicate that the Upper Clay zone, which is higher grade than the Lower Clay, thickens to the west and north-west towards Bradda's other claims in the area. This may allow the company to focus on the Upper Clay to delineate a higher-grade resource than previously thought.
"The continued presence of the increased thickness in the Upper Clay zone reinforces our geological interpretation for the Basin lithium deposit and bodes well for the potential at the rest of our Basin claims where we are in the process of permitting for drill programmes in 2022,” FitzRoy highlighted.
The Bradda chief executive noted that Basin East represents just a small portion of the company’s claim area, which spans 47 square kilometres.
At the same time FitzRoy added: “These are exciting times not only in terms of the overall lithium market space but also as our exploration drill programmes, and on-site field work at all three of our lithium targets, continue, with lots of newsflow planned for 2022.”