Boadicea says Bald Hills East lithium acquisition ticks all the boxes

In an interview with Andrew Scott of Proactive Investors, Boadicea Resources Ltd (ASX:BOA)‘s Jon Reynolds says the company is paying A$300,000 plus a 1.5% net smelter return (NSR) royalty for exploration licence E15/1608 which has been named the Bald Hill East project. He says Bald Hill East is highly prospective for pegmatite-hosted lithium and tantalum mineralisation.

The acquisition of Bald Hill East project is the most exciting tenement development in the EV space for Boadicea.

“The key aspects is that it is highly prospective for lithium and it is located adjacent (<2km) to the Bald Hill lithium mine and processing plant. Any discovery has a high potential to be commercialised,” Jon Reynolds says.

“The tenement area has only had limited historic exploration with only shallow RAB and auger drilling, but notably that drilling has identified two zones with anomalous coincident lithium / caesium / rubidium results, which all prove an excellent target for exploration.

“Our geologist Graeme Purcell, visited the area two weeks ago and came back very excited about its potential.”

The region has historically been explored and mined for tantalum and more recently, following on from successful exploration for subsurface lithium pegmatites, the production of spodumene concentrate and tantalum.

The Bald Hills mine is currently on care and maintenance which is due to ongoing litigation. Once resolved it is anticipated the plant will restart.  It is located only 65km south-east of Kambalda in the southern goldfield region of Western Australia. Bald Hills East has excellent access and allows exploration work to begin immediately.

Boadicea has aligned its strategy with the four key electric vehicle (EV) metals with a balanced portfolio of nickel, copper, cobalt and now lithium. These are the growth commodities for the EV revolution, with a forecast demand growth of 5.5 times for copper, 5.2 times for nickel, 1.5 times for cobalt and 5.3 times for lithium between now and 2030. Next year is planning to be a huge year with exploration and drilling in all four commodities.

Jon Reynolds says, Bald Hills East ticks so many excellent boxes, with anomalous lithium results, ease of access, adjacent to a new lithium processing facility, the right commodity, and a potential to deliver a short-term news flow on exploration activities planned for 2022.

“We look forward to keeping the market updated with our activities in 2022 and possibly the remainder of 2021,” Jon Reynolds said.