(NewsDirect)
Bradda Head Lithium Limited (AIM:BHL,OTCQB:BHLIF, TSX-V:BHLI) executive chairman Ian Stalker joinsProactive's Stephen Gunnion with news that drilling has commencedat the Basin Project in Arizona, aimed at expanding the lithiumresources.
Stalker said thecompany, optimistic about the lithium market's upward trend, isleveraging this timing to potentially grow the inferred resource fromone million tonnes to two and a half million tonnes within six weeks.This expansion is critical as it could unlock $3 million US dollarsfrom a previous agreement with Lithium Royalty Company, enhancing thecompany's financial position.
Bradda Head's 2023 sonic drilling campaign has bolsteredthis confidence, with consistent mineralization findings and nofailures in their drilling efforts.
Looking ahead, the company may consider further drilling orfocus on its San Domingo hardrock pegmatite project, depending on theoutcomes and the lithium market's status. Additionally, BraddaHead has reached a settlement with Arizona Lithium, securingadditional claims for its Wikieup clay project, which is seen as anopportunity to extend the lithium resources.
Beyond these projects, Bradda Head iseyeing potential in lithium extraction from brines, particularly inareas previously explored by major oil companies for oil and gas.
This diverse project portfoliopositions Bradda Head to capitalize on the anticipated positive shiftin the lithium market.
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