Proactive Investors - Bradda Head Lithium (LON:BHL) said equipment has been moved to its Basin Project, Arizona for a six-hole expansion drilling programme substantially to boost the mineral resource at the deposit.
A sonic drilling campaign in 2023 increased BHL's Inferred and Indicated MRE at Basin by three-fold.
This time the aim is to add a minimum of 1.5Mt of lithium (LCE) with the programme to drill 1.2 km towards the north on newly permitted drill holes.
If successful, the programme will also meet the benchmark of 2.5M LCE that triggers the final US$3 million royalty payment from Lithium Royalty Company (LRC) to Bradda Head.
Lower Clay will be tested to expand the tonnage and explore a potentially thicker sequence correlative with gravity low, which has the potential for exceptional lithium grades
Ian Stalker, Executive Chairperson, commented: "After we completed the MRE in September 2023, we quickly realised the unbridled potential to continue the expansion of this important lithium-in-clay resource in Arizona.
“Not only are we hoping for sizeable expansion of this resource, but we are estimating the resource will grow from the current 1.085 MT of LCE to over 2.5 MT, which will trigger an important US$3 million royalty payment from LRC.“