Bradda Head Holdings Ltd (AIM:BHL) has doubled the size of its acreage in Western Arizona through staking ground adjacent to its existing land package.

The new claims are next to the existing Burro Creek East, Burro Creek West, and Wikieup clay deposits.

Approximately 24sq km of claims have been added, said the statement, increasing Bradda Head's landholding by 105% to 47sq km of sedimentary lithium claims.

The new claims also mean Bradda Head now has the largest landholding in the Burro Creek-Wikieup lithium district.

Around 7.5 sq km of the new land is adjacent to the Burro Creek East and Burro Creek West deposits.

Both deposits are in the same thick lacustrine clay formation and are almost certainly geologically contiguous, said the statement.

Charles FitzRoy, Bradda Head’s chief executive, added: "We are delighted with the addition of these new assets to our portfolio, which not only add some highly prospective acreage adjacent to our existing portfolio but also gives Bradda Head the largest landholding position on the Burro Creek-Wikieup lithium district, for what was a small cash consideration.

"The cash raised at IPO has enabled us to not only fast track our exploration programme, but to also put into action our plans for developing our newly staked claims at the Burro Creek and Wikieup projects.”

Bradda Head has already established a JORC-compliant lithium resource of 185,000 tonnes on a small part (c.2% including new claims) of its existing land package.

The junior joined AIM just under two weeks ago.

Article source