The Group’s Sedimentary
Lithium Projects

The Groups sedimentary lithium projects, Wikieup and Basin are located in Arizona, USA.

Our two sedimentary assets have distinctly different geology, but with district wide capability. Exploration drilling in 2023 tripled the clay resource at Basin from 0.371 to 1.08MT lithium carbonate equivalent (LCE) and remains open in several directions.

Geophysical studies such as gravity and GPR have been carried out over the majority of the Basin claim package enabling more targeted drilling and expanding knowledge of depth potential.

The overall sedimentary land package over the two projects covers an area of c.47km2 and we are well funded to continue resource expansion drilling. Drilling to date has produced two mineral resource estimate technical reports by SRK Consulting UK, which ties into the agreement entered into with Lithium Royalty Corporation (LRC) in December 2021.

Royalty Agreement with Lithium Royalty Corporation

The agreement with LRC provides for a 2% gross overriding royalty (GOR) over the Company’s sedimentary claims. The total value of the royalty is $8 million and will be paid to Bradda Head at 3 predetermined milestones;

01

Projects

Basin

Sedimentary project

The Basin Project is made up of 3 mining claim blocks on BLM-administered land and 1 lease and 2 mineral exploration permits on state-administered land. In total the project embraces 17km2. The project is grouped into Basin East (Basin East, Basin East Extension and Basin North) and Basin West (Basin West and Basin West Extension)

02

Projects

Wikieup

Sedimentary project

The Wikieup project is located half-way between Phoenix and Las Vegas, in the Mohave County of Arizona, and is 18km and 22km north north-west of Basin West and Basin East respectively. The project area covers a total area of 23.9km2.

Sedimentary map