A maiden drill programme commenced at our pegmatite asset during July 2022, resulting ina total of 7,316m in 47 core holes completed. Lithium bearing minerals (spodumene and minor lepidolite) were identified in c.60% of the 2022 total holes completed.

A follow-up program commenced in the late summer of 2023 commenced with a focus on following-up the 2022 results, expansion on several shallow high-grade lithium intercepts and testing several new targets. The second phase culminated in an additional 5,776 meters of core and an additional 61 holes for an overall total of 13,092 meters of core drilling across the property.

The Company also completed an extensive soil sampling programme across the majority of the 32.6km² landholding, north-south oriented sample lines spaced 100m apart with samples spaced 50m, delivering very promising results highlighting priority targets along the 10.5km mineralised trend. Alongside of soil sample results, Bradda’s geologists, followed-up the GPR geophysical survey work carried out in 2021/2022 with structural and outcrop mapping programme to guide drill hole targeting. The GPR results, essentially detects resistive anomalies in the subsurface, were followed up by geologic mapping campaigns and for coincident soil anomalies to determine if pegmatites are potentially hidden below greenstone host rocks. Further geologic mapping has focused on pegmatite zoning, characteristics, size (width and length), and structural integrity for drill targeting.

2022 drill programme

The maiden drill program from 2022 drill tested a number of pegmatites from Midnight Owl to Jumbo, finding spectacular intercepts such as 31.85m at 1.60% Li2O in hole SD-DH22-024 and 9.54m at 1.85% Li2O, both at shallow depths of 26.82m and 46.24m respectively. All holes were drilled on BLM lands on targets with several holes placed proximal to historic lithium bearing prospects. A summary list of drill hole intercepts from both programs is listed below.

As follow-up to this drilling, core samples (1/4 core) from several holes at Jumbo were sent off for metallurgical studies at SGS Laboratories, finding a 1.03% Li2O bulk sample crushed to 1/4” (minus 0.85mm) makes a 6.0% Li2O concentrate, using DMS (Dense Media Separation).

2023 drill programme

A follow-up drill programme commenced during August 2023, with highlights including 7.28m at 1.27% Li2O at White Ridge, 8.99m at 1.20% Li2O and 4.14m at 2.07% Li2O at Morning Star. The exploration programme targeted new areas discovered through the soil sampling program, targets such as Bolt in the northeastern section of the project. Additional targets were identified, but were not drill tested during this programme but are slated for future campaigns.

Assay highlights from the two phases of drill hole results include:

SD assay highlights

A follow-up drill programme commenced during August 2023, with highlights including:

• Preliminary core drilling was conducted at Midnight Owl, Bolt, and Lone Giant in the northern part of San Domingo, amounting to 1,877m in 22 shallow core holes
• This programme is follow-up core drilling to Midnight Owl’s previous programme that encountered 31.85m @ 1.60% Li₂O in hole SD-DH22-024 at a depth of 26.82m
• Drill hole SD-DH23-049 at the Midnight Owl target discovered a new zone deeper than found in hole 24:
  • 6.35m containing 0.83% Li₂O at 87.33m depth
  • 3.05m of 1.03% Li₂O at 98.60m depth

• Drill holes at White Ridge in the Central area returned 7.28m at 1.27% Li2O, including 92ppm Ta2O5 in hole SD-DG23-069 and 5.18m of 0.88% Li2O in SD-DH23-072

Preliminary Metallurgical test work on Phase I core from the Jumbo Target contain positive results, described in the November 20, 2023 PR:

• Three composite samples were selected for test-work, representing the low grade, medium grade and high-grade environment reflected in the maiden 2022/2023 exploration programme previously reported from drilling undertaken at the Jumbo Target in the San Domingo Pegmatite district in Arizona.

• After discussion with SGS Canada, an initial HLS test was undertaken to evaluate the potential for dense media separation (“DMS”) to produce a sellable Li-oxide concentrate product. This test work is predominantly preliminary in its approach. The measured head grade of the samples were 3.05% Li₂O, 1.03% Li₂O and 0.34% Li₂O, reflecting the high, medium and low-grade range seen in our drilling results to date.

• Despite the preliminary nature of this test-work programme, it was highly encouraging to see the medium-grade sample produce an ‘in spec’ lithium oxide concentrate product with a 6.0% Li₂O grade and an interpolated recovery of contained lithium to the concentrate of 50.3%, at a ¼” size crush size. Tailings rejection was considered efficient in this scenario with the rejection of 60.6% mass and a loss of only 2.1% lithium.

• Alternately, at a crush size of 3/8” (9.5 mm), a concentrate was produced with a grade of 5.5 % Li₂O at a 55.5% recovery of contained lithium oxide. This is still considered in spec in the current market. ‘In spec’ Li concentrates currently sells in the Lithium-Oxide Spot Market for circa US$2,100/ tonne.