© Reuters. Bradda Head Lithium eyes new deposits at Basin after survey
Proactive Investors – Bradda Head Lithium (LON:) said analysis of a gravity survey completed in late 2023 has revealed “a significant gravity low over the Basin North area, interpreted as a deep, depositional centre for sedimentary rocks and a deep basement rock geological setting”.
Ian Stalker, executive chairman, added: “The potential existence of thicker clay beds in both Upper and Lower Clay sequences is hugely encouraging and reaffirms our understanding of our Basin Project as an important resource for lithium-in-clay.
“The additional discovery of the new clay and silica nodule beds to the north is indicative of favourable open pit based mining conditions, further promoting the value of this project.”
Bradda Head said that it was the first ever gravity geophysical survey of this kind conducted at Basin (in Arizona) and covered the entire property from 130 points across 32sq km.
The gravity survey also covered Basin West, showing gravity lows corresponding to lithium anomalous of more than 1,000ppm Lithium-in-clay outcrops, “providing confidence of extensive clay extent throughout the property to the west and northwest”.
“The results from this first-ever gravity-based geophysical survey in our Basin district in Arizona USA add to our confidence to reach our new target resource no. of 2.5mt of LCE with a limited amount of further drilling,” noted Stalker.
“This cost-effective campaign is designed to allow us to unlock a further US$3m payment from LRC, the company that has an existing royalty agreement with us.”
Read more on Proactive Investors UK
Disclaimer
Read the full article here
