Bradda Head Lithium reports resource growth at Basin East project in Arizona

A little more than nine months following its initial public offering (IPO), U.S.-focused junior Bradda Head Lithium (AIM: BHL, US-OTCQB: BHLIF) shares continue to fly high following the 65% resource growth at its Basin East lithium project in Arizona.

With rising lithium prices, Bradda Head shares trading in London have tripled in value and continues to trade at a relatively high level on heightened investor interest.

Bradda Head announced on March 29 that based on only 1,110 metres of drilling completed on the project in 2021, the company added 120,000 tonnes of lithium carbonate equivalent (LCE) to the initial resource statement of 185,000 tonnes LCE, for an updated total of 305,000 tonnes LCE.

“The increase in LCE at Basin East and assessment of exploration potential is extremely encouraging and highlights the resource growth potential,” CEO Charles FitzRoy told The Northern Miner in a recent interview.

“The total drilled area at Basin East covers 2.4% of our 47 sq. km., which previously only covered just under 2%. That’s an increase of 120,000 tonnes of LCE over a drilled area increase of 0.2 sq. km. Evidence from drilling and geophysics suggests that this higher-grade Upper Clay layer could be relatively continuous.