Increased Landholding in Western Arizona

RNS Number : 8254G

Bradda Head Holdings Ltd

29 July 2021

 

29 July 2021

Bradda Head Holdings Ltd

("Bradda Head" or the "Company")

Increased Landholding in the Highly Prospective Wikieup Lithium Region of Western Arizona

Bradda Head Holdings Ltd (AIM: BHL), the North America-focused lithium development group, is pleased to announce the successful completion of the Company's claim-staking programme doubling the size of its Western Arizona landholdings.  The prospective ground is adjacent to its existing land package where a JORC-compliant resource of 185,000 tonnes of lithium carbonate equivalent (LCE) has already been established.

Highlights:

· The new claims are adjacent to the existing Burro Creek East, Burro Creek West, and Wikieup clay deposits, and complement the Company's prospective landholding. 

· Bradda Head now has the largest landholding in the Burro Creek-Wikieup lithium district, increasing critical size potential (see map at https://www.braddaheadltd.com/media/image-library/). Approximately 24km² of claims have been added, increasing Bradda Head's landholding by 105% to c.47km² of sedimentary lithium claims.

· Bradda Head has already established a JORC-compliant lithium resource on a small part (c.2% including new claims) of its existing land package that saw earlier successful (2018), but limited, drilling undertaken and is confident in expanding this resource.

· As announced earlier (PR dated 21/07/2021) the Company has already commenced with a fast-track drilling campaign on its existing permitted land package and intends to move quickly to permit the new ground.

Bradda Head announces that it has more than doubled its landholding in sedimentary lithium claims through the addition of highly prospective acreage in Western Arizona near to its 100%-owned mining claims at the Burro Creek (Burro Creek East and Burro Creek West) and Wikieup lithium clay projects. This brings its total landholdings from c.23km² to c.47km².

The objective of the claim-staking process, which commenced in early July 2021, was to extend the Company's landholding in the Burro Creek-Wikieup lithium district.  The claims were placed where the Company's geologists have identified areas in which lithium-bearing clay, similar to that at the Wikieup and Burro Creek assets, likely exist under younger alluvium and/or volcaniclastic deposits.  The new blocks of land add to, and are adjacent to, our acreage at Burro Creek and the new claims at Wikieup South (14.9km²) and Wikieup Northwest (1.5km²), also in Western Arizona, follow the geological projection of the Wikieup/Big Sandy mineralisation to the south and to the northwest respectively, from areas of known lithium mineralisation.

With these new assets, Bradda Head now has the largest landholding position on the Burro Creek-Wikieup trend, and first-mover advantage on the belt. This also gives the Company greater optionality and increases the size potential of the Company's resources to be developed, which is critical for a clay project where size of asset is important. 

7.5km² of new claims (Burro Creek North and Burro Creek West Extension) are adjacent to the Burro Creek East and Burro Creek West deposits. Both deposits are in the same thick lacustrine clay formation and are almost certainly geologically contiguous.  The landholdings at Burro Creek West are contiguous with the State of Arizona Mineral Exploration Permits (MEPs) and mineral leases at Burro Creek East. 

A map of the Company's claims can be found at: https://www.braddaheadltd.com/media/image-library/

Charles FitzRoy, CEO of Bradda Head, commented:

"We are delighted with the addition of these new assets to our portfolio, which not only add some highly prospective acreage adjacent to our existing portfolio, but also gives Bradda Head the largest landholding position on the Burro Creek-Wikieup lithium district, for what was a small cash consideration.

"The cash raised at IPO has enabled us to not only fast track our exploration programme, but to also put into action our plans for developing our newly staked claims at the Burro Creek and Wikieup projects.  We look forward to providing further updates and demonstrating the inherent value in the ground that our geologists believe is present at all of our assets in Nevada and Arizona - accelerating our role in the crucial supply of lithium to US end-users."

For further information please visit the Company's website: www.braddaheadltd.com

Contact:

Bradda Head Holdings Limited	[phone]
Charlie FitzRoy, CEO Denham Eke, Finance Director
Beaumont Cornish (Nomad) James Biddle/Roland Cornish	[phone]
Peterhouse (Joint Broker)	[phone]
Charles Goodfellow Duncan Vasey Lucy Williams
Shard Capital (Joint Broker)	[phone]
Isabella Pierre
Tavistock (PR)	+ 44 20 7920 3150
Nick Elwes Adam Baynes	[e-mail]

Notes to Editors

Bradda Head Holdings Ltd is a North America-focused lithium development group. The Company currently has interests in a variety of projects, the most advanced of which are in Central and Western Arizona: the Burro Creek project (Burro Creek East Project, and the Burro Creek West Project) and the Wikieup Project.

The Burro Creek East Project has an estimated an Inferred Mineral Resource (JORC) of 42.6 Mt of lithium bearing clays at an average grade of 818 ppm lithium for 185,000 tonnes of lithium carbonate equivalent (LCE). The Burro Creek East Project also has additional exploration potential for extensions to the current model of between 50,000 to 300,000 tonnes of lithium carbonate equivalent.

The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada and Pennsylvania.

All Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.

Bradda Head is listed on the AIM market of the London Stock Exchange with the ticker of BHL.

 

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