Bradda Head shares jump as secures "key" drilling permit in Arizona

(Alliance News) - Bradda Head Lithium Ltd on Tuesday said it received an approval for a lithium project in Arizona.

The North America-focused lithium explorer and owner of the Basin project in Arizona said the Arizona State Land Department approved its Geologic Field Operations Plan for the company's joint venture with Kennecott Exploration Inc, known as the Whistlejacket lithium project in Arizona.

Bradda Head shares surged 41% to 4.02 pence each on Tuesday morning in London.

Executive Chair Ian Stalker said: "This is an important development for Bradda Head Lithium that supports the rapid advancement of its Arizona lithium exploration portfolio. This is a key priority for Bradda.

"The speed of this approval highlights the increasing efficiency of the regulatory process and growing national focus on securing domestic sources of critical minerals, and is a positive indication of future benefits to be derived from operating in the jurisdiction."

The permit allows for 24 drill pads and rock sampling at Whistlejacket. The initial focus will be drilling to assist in meeting earn-in commitments, Bradda Head said.

By Tom Budszus, Alliance News slot editor

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