(NewsDirect)
Bradda Head Lithium Limited (AIM:BHL,OTCQB:BHLIF, TSX-V:BHLI) executive chairman Ian Stalker speaks toThomas Warner from Proactive London after the exploration companyannounced an updated mineral resource estimate for its Basin Projectin Arizona.
The new resourceestimate is 17 million tonnes in the indicated category at 940 partsper million (ppm) carrying 85,000t LCE (lithium carbonate) and 210million tonnes in the inferred category at 900 ppm, carrying 1 milliontonnes of LCE.
The figures havetriggered a payment of $2.5 million from the Lithium Royalty Company(LRC). Stalker explains that the money has helped consolidate BraddaHead Lithium's financial position to such an extent that there isno imminent need to raise funds.
Headds that the company has so far explored only a small proportion ofthe total 41 square kilometre package, indicating significant growthpotential. International mining consultancy firm SRK, a renownedconsultancy engineering group, has confirmed the robustness of thenumbers so far.
The next milestoneis achieving 2.5 million tonnes of LCE, which would result in another$3 million payment. Additionally, Stoker touched on their San Domingopegmatite project, highlighting its potential and the ongoing drillingactivities saying its there that Bradda Head is "chasing to someextent the dream". He also mentioned the recruitment of a new CEOand hinted at upcoming positive news for the company.
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