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Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce the commencement of the Front End Engineering and Design (FEED) Study at its Paradox Lithium Project (the Project) in the Paradox Basin, in Utah, USA.
Highlights:
- Worley Group Inc. has been appointed to undertake the Front End Engineering and Design Study for the proposed lithium carbonate processing plant
- Results will be incorporated into Anson’s financial model to support project financing proposals to commercial banks, export credit agencies and/or US government agencies
- Anson has appointed its own engineering team to support Worley in delivering the Study
- Sunresin’s commercially proven Direct Lithium Extraction process will be incorporated into the FEED Study through collaboration with Sunresin and its engineers
- The FEED Study is underway and is expected to be completed by Q4 2023
The FEED Study is a pivotal next step in Anson’s plans for the construction of a lithium carbonate processing plant, with a production capacity of a 13,000tpa lithium carbonate equivalent (LCE). Worley Group Inc. (Worley) has been appointed to undertake the FEED Study, which will build on the Project’s robust Definitive Feasibility Study (DFS) completed in 2022 (ASX announcement, 8 September 2022). The Feed Study is progressing and is expected to be completed in Q4 2023.
Anson has appointed its own engineering team to support Worley in the delivery of the FEED Study. Initially, the Anson and Worley teams will be co-located to maximise the effective delivery of the FEED Study’s work streams (Figure 1).
Figure 1: Picture of Combined Anson and Worley Engineering Team
Anson’s chosen Direct Lithium Extraction (DLE) process, by Sunresin New Materials Co. Ltd (Sunresin), will be incorporated into the design and engineering work, and the FEED team will work closely with Sunresin and its independently appointed design and engineering consultants in the delivery of the FEED Study.
Sunresin is the process package owner and technology provider for the proposed LCE plant at Paradox, processing raw brine into sellable product (considered as Inside Battery Limits, or ISBL), and will be responsible for the design and engineering work to applicable US standards.
Worley will provide the engineering for the supporting infrastructure and utilities for the broader site development (considered outside battery limits, or OSBL).
Anson is in process of developing a suppliers list of components and equipment required for both the ISBL and OSBL aspects of the production plant. It is focused on sourcing as much of the required equipment and components from North America as is possible, in order to maximise the opportunity to secure debt financing from government agencies, Export Credit Agencies and the United States Department of Energy - with whom the Company is in frequent consultation.
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ASN:AU
Anson Resources: Developing a Near-Term Clean Energy Project in Utah
Anson Resources (ASX:ASN) focuses on the resources necessary to meet the energy demands of the future. The company’s flagship project, the Paradox Lithium Project, has the potential to become a world-class lithium producer and is located near Tesla’s massively productive gigafactory in the United States. Additional projects target nickel, copper, and uranium.
The company's flagship Paradox Project is located in Utah, a mining-friendly and politically stable jurisdiction. The asset holds significant lithium brine deposits, and the company has identified an extraction method that has delivered an extraction rate of 91.5 percent. This technique calls for passing the lithium through the resin, which captures the resin, and can then be separated from the resin with water. From that state, it can be processed into lithium carbonate. The company is currently undertaking a major JORC resource expansion drilling program, the results of which will feed into a Detailed Feasibility Study being carried out by global engineering firm, Worley.
Company Highlights
- Anson Resources is focused on developing its flagship project, the Paradox Lithium Project, into a significant lithium producing operation.
- The company is currently undertaking a major JORC Resource expansion program at Paradox, which will form part of a Detailed Feasibility Study which is being undertaken by leading global engineering consultants, Worley.
- The Paradox Project contains multiple lithium brine targets, and the company has identified an extraction method that produces an impressive return rate of 91.5 percent. Also, the project’s Direct Lithium Extraction (DLE) method is expected to deliver significant ESG benefits
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Anson Resources’ other projects target nickel, copper, vanadium and uranium. The company aims to supply energy markets with the mineral resources necessary to power the future.
- The company has an experienced management team with a mix of technical, corporate and commercial skills driving the project towards its ambitious goals.
This Anson Resources company profile is part of a paid investor education campaign.*