BHL Bradda Head Lithium Limited

26 November 2024

Bradda Head Lithium Ltd

("Bradda Head" or the "Company")

San Domingo Pegmatite Project update and newly discovered Ruby Soho Target

Bradda Head Lithium Ltd (AIM:BHL), the North America-focused lithium development group, is pleased to outline results from surface samples collected at the San Domingo ("SD") pegmatite project in Arizona, USA. Surface samples at the newly discovered Ruby Soho target showed lithium oxide values of up to 3.57% with eight samples exceeding or equal to 0.44%. The Ruby Soho target has not been drill tested previously, permitting is underway, and the target fits well into our pipeline of pegmatites that have excellent potential to evolve into near-term resources.

Ruby Soho Highlights:

·    High value of 3.57% Li₂O, eight samples exceeding or equal to 0.44%;

·    Spodumene crystals ranging from 2.0cm to 20.0cm, ideal size crystals for DMS processing;

·    Spodumene identified throughout length of pegmatite;

·  The spodumene exhibits limited surface alteration' - an encouraging indication lithium mineralization will be consistent with depth;

·    Estimated strike length of pegmatite is 330 meters, pegmatite zone of 540 meters;

·    Additional parallel pegmatites with visible lithium mineralization (spodumene, lepidolite);

·    Road accessible, within existing NOI (Notice of Intent) drill permit for simple amending;

·    More field surface sampling and detailed geologic mapping is immediately planned; and

·    Additional reconnaissance throughout northeast sector of property is a high priority.

Ian Stalker, Executive Chair, commented:

"The recent discovery of Ruby Soho highlights the opportunities Bradda Head continues to uncover as we follow-up on our soil data on the San Domingo project in central Arizona, USA. Adding another well mineralized pegmatite to the portfolio, albeit untested by drilling, is highly encouraging for the Company and furthers our belief that the San Domingo project could contain economic, mineable, and shallow lithium mineralization across the project.

The team also has additional soil anomalies in more remote areas readied for follow-up that could potentially identify further new and untested drill targets. Our mission is to pivot towards defining multiple shallow resources whilst advancing ore body knowledge through additional metallurgical studies. The relatively simplistic nature of pegmatites and industry proven spodumene segregation encourages the Company to examine mine permitting and our options to produce a concentrate; with all metallurgical studies and drill data expected to form the foundation for a compliant NI43-101 technical report, anticipated to be produced during 2025.  

Ruby Soho and the exciting, but un-tested Dragon South and North targets along with additional near surface opportunities discovered at Midnight Owl, White Ridge, Morning Star, and Jumbo present outstanding potential to deliver a resource after the next phase of drilling, projected to proceed in Q1 of 2025, and meaningfully progress our portfolio towards production."

Additional Ruby Soho Target Details

·    Ruby Soho discovered over the summer of 2024 during follow-up on weakly anomalous lithium soil anomalies and reconnaissance in the northeast quadrant of the property.

·    The target is 1,500 meters east of Midnight Owl and 350 meters east of the Lone Giant target.

·    Pegmatite ranges in widths of 1.5 to 6.0 meters width based upon outcrop and subcrop exposures of the lithium bearing pegmatite.

·    Spodumene crystals fresher than most other parts of the entire project, ranging in visible sizes from 2.0cm to 20.0cm in length (Figures 1 and 2).

·    Typical LCT signature with elevated to strongly anomalous Rb, Ta, Cs, and Sn.

·    Additional parallel pegmatites 80 meters to the east contain more lepidolite than spodumene, but are considered viable targets, have yet to be sampled.

·    The Ruby Soho pegmatite forms a topographic high, thus, ideal for an open-pit scenario should the pegmatite be continuous at depth and consistently mineralized.

·    Out of 14 samples collected along the 540-meter pegmatite trend, values range from 0.01 to 3.57% Li₂O with eight samples exceeding 0.44% Li2O.

·    Elbaite locally found on margins of the pegmatite, mineralogically similar to schorl.

·    Quartz, feldspar, elbaite/schorl, minor muscovite is the dominant mineralogy, including spodumene and sparse lepidolite. This mineral assemblage and zoning are common in productive LCT pegmatites.

Figure 1: Images of spodumene from field outcrops, Ruby Soho Target

Figure 2. Hand Samples from Ruby Soho with scale

Ruby Soho, named for the adjacent "Ruby Wash", was discovered 350 meters east of the Lone Giant target during a summer reconnaissance campaign and consists of mostly exposed 330 meters strike length, spodumene bearing pegmatite (Figures 3 and 4). The eight samples collected along the 330-meter stretch have a lithium oxide range from 0.01% to 3.57% Li₂O on a pegmatite that ranges in widths of 1.5 to 6.0 meters on the surface. Additional spodumene bearing pegmatites are found within a 540-meter overall trend and could extend further south to other identified, lithium-bearing pegmatites. This target has never been drill-tested and has road access to the highest-grade samples. Ruby Soho is ideally situated on a hilltop and along a topographic high north-trending ridgeline that would be geotechnically simple for an open-pit situation, should an economic mineralized pegmatite be identified by drilling. 

Ruby Soho has similar LCT geochemical signature to that seen throughout most of the San Domingo pegmatite complex, running anomalous Rb, Cs, Ta, Be, and Sn. One sample runs 635ppm Cs, 6,028ppm Be, and 121ppm Ta as an example of the LCT signature.

Further sampling will be conducted on the parallel pegmatites, on the main Ruby Soho pegmatite, and on surrounding or on strike pegmatites. A review of access and location for drill sites will be examined and integrated into an amendment to the existing NOI drilling permit the Company has with the BLM. 

The Ruby Soho target, similar to other and more advanced targets such as Midnight Owl, Jumbo, and Morning Star, are found on topographic highs, symptoms of the resistant nature of many mineralized pegmatites found at San Domingo and a commonality seen in several of our spodumene-bearing pegmatites. This critical feature bodes well for resource development and reduces stripping of waste rock and lower's the timeframe to access mineralized pegmatites.  

The Company's current approach to exploration is to convert targets, through tightly spaced drilling, into near-term mineable resources. While Ruby Soho has yet to be drill-tested, the Company's experience at San Domingo provides valuable insight into predicting behavior of the pegmatites at depth and this target has strong indications of containing evenly spodumene mineralization down-dip. Bradda are excited to add Ruby Soho into the target portfolio, similar to Dragon, have become high priority targets the Company anticipate being ready for drilling in Q1 of 2025.    

Figure 3. Target location map and Ruby Soho Target, North portion of property, resource potential, geochemistry.

Figure 4. Ruby Soho Target, outlined in magenta, with rock chip grab sample locations, Li2O percent values posted. Pegmatites mapped in purple, roads dashed in black. 

QAQC

Rock chip and grab samples were collected in the field under the supervision of Joey Wilkins. Sample location sites were labelled, rock channels were bagged, tied-off, then transported to the core shed under lock and key. Samples were shipped by the Company directly to SGS Laboratories in Burnaby, B.C., Canada where SGS prepped then analysed all samples using sodium peroxide fusion combined ICP-AES and ICP-MS, method GE_ICM90A50. Certified standards were inserted into the rock chip sample stream and reviewed by the Qualified Person. Mr Wilkins consents to the inclusion of the technical information in this release and context in which it appears.

Qualified Person (Bradda Head)

Joey Wilkins, B.Sc., P.Geo., is Chief Operating Officer at Bradda Head and the Qualified Person who reviewed and approved the technical disclosures in this news release. Mr Wilkins is a graduate of the University of Arizona with a B.Sc. in Geology with more than 38 years of experience in mineral exploration and is a qualified person under the AIM Rules and a Qualified Person as defined under NI-43-101. Mr Wilkins consents to the inclusion of the technical information in this release and context in which it appears.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

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

ENDS

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About Bradda Head Lithium Ltd.

Bradda Head Lithium 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 Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.

The Basin East Project has a Measured Mineral Resource of 20 Mt at an average grade of 929 ppm Li for a total of 99 kt LCE and an Indicated Mineral Resource of 122 Mt at an average grade of 860 ppm Li and an Inferred Mineral Resource of 499 Mt at an average grade of 810 ppm Li for a total of 2.81 Mt LCE. 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 of Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure. Bradda Head is quoted on the AIM of the London Stock Exchange with the ticker of BHL.

Technical Glossary

Forward-Looking Statements

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.