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Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce the completion of a 3D Geological model for its Paradox Lithium Project and Green River Lithium Project in the Paradox Basin, in south-eastern Utah, USA.
Highlights:
- Anson has completed a 3D Geological Model for the conversion of JORC Mineral Resources to JORC Ore Reserves at its Paradox Basin lithium projects.
- The 3D Geological Model is currently being imported into a numerical Hydrogeological Flow Model to be used to convert JORC Resources to JORC Ore Reserves.
- JORC Ore Reserves estimation is an essential requirement for Anson to secure project funding for its Paradox Basin lithium assets.
- 3D Geological Models have been created for both the Paradox and Green River Lithium Projects.
The model (Figure 1) covers the region hosting both the Paradox and Green River Lithium Projects and is currently being imported into a numerical Hydrogeological Flow Model that will be used in the conversion of the JORC Inferred Resources into Indicated category and from there into JORC Ore Reserves.
The completion of the model represents an important step in Anson's JORC Resources and JORC Ore Reserves development strategy. Converting the lithium JORC Resources into JORC Ore Reserves is essential for obtaining Project funding for the Company’s Paradox Basin lithium projects.
Figure 1: Snapshot of the Paradox Lithium Project 3D Geological Model showing two salt domes (purple peaks) interpreted to have directed the brine flow towards the Project area.
The next stage is to import the 3D geological model into third-party proprietary modelling software package, with advanced capabilities that supports a wide range of grid types, to create a numerical brine flow model for the Project areas.
This will facilitate project planning, permitting, operations and JORC Ore Reserves estimation. The 3D geological model of the Project areas will aid in developing the structure of the groundwater to confirm flow rates. This will feed into the Front-End Engineering and Design (FEED) study currently being undertaken by Anson in conjunction with Worley and Anson’s technology providers.
The brine flow model will be constructed in two phases:
Phase 1: Conceptual Model Development
- Compile a library of all relevant hydrogeology site conditions,
- Import 3D geological model,
- Develop regional conceptual site model.
Phase 2: Develop Numerical Groundwater Flow Model
- Develop a preliminary flow model,
- Sensitivity analysis to quantify the calibrated model,
- Forecasting and simulation
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Overview
Electric vehicles (EVs) are undergoing rapid consumer adoption, with a market expected to explode by a 24.5 percent CAGR between 2022 and 2028. Analysts expect EVs to create steadily-increasing lithium demand, with demand outpacing supply in 2022 and creating a deficit of 80,000 megatonnes. Mining companies that produce lithium likely won’t have any problems finding buyers.
The United States and Canada import most of their lithium to meet their ever-increasing needs. But that’s not for lack of deposits; both countries have significant lithium resources that have gone undeveloped. Fortunately, several companies are currently exploring and developing lithium assets in North America’s mining-friendly jurisdictions, such as Utah, USA and Quebec, Canada. Will new lithium producers create a North American supply chain that keeps up with demand?
Anson Resources (ASX:ASN) is an Australian-based mineral resources exploration and development company focusing on the resources necessary to meet the energy demands of the future. The company’s flagship Paradox Lithium project in Utah, a mining-friendly and politically stable jurisdiction, has the potential to become a world-class lithium producer within the massive emerging American EV battery industry. Anson has also expanded its strategic lithium project area in the Paradox Basin of Utah via the pegging of the Green River Lithium Project. It also has a portfolio of exploration assets prospective for nickel, copper and uranium.
Anson’s Paradox Lithium Project proposed extraction and purification plant
The Paradox Project 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 project hosts a substantial JORC mineral resource of 1.04 million tonnes of lithium carbonate equivalent (LCE) and 5.27 million tonnes of bromine. Anson is also undertaking a resource expansion program, and an upgrade to the mineral resource is proposed to be integrated into the Paradox project’s robust definitive feasibility study, which was completed in 2023.
Anson has a binding memorandum of understanding with leading direct lithium extraction (DLE) technology provider Sunresin to use its patented and proven DLE technology, which requires lower energy and water consumption, and in turn boosts the project’s ESG credentials. The agreement involves the development of a full-scale commercial lithium plant at the Paradox project.
The project also contains a significant bromine resource that may be extracted and processed as a valuable secondary product. Anson Resources has a non-binding memorandum of understanding with Tetra Technologies (NYSE:TTI) to help deliver brine production at Paradox.
The company’s management team has extensive relevant experience. Bruce Richardson, CEO and executive chairman, has held senior management positions in the private and public sectors for over 30 years. Greg Knox, executive director, has over 20 years experience as an exploration and mining geologist for companies. Michael van Uffelen, non-executive director, has over 30 years of experience in accounting, investments and corporate finance.
Company Highlights
- Anson Resources is focused on developing the Paradox Lithium Project into a significant lithium-producing operation.
- The project hosts a substantial mineral resource estimate of 1.04 million tonnes of LCE and 5.27 million tonnes of bromine, which will be integrated into the Paradox definitive feasibility study.
- The company is also undertaking a major resource expansion program at the project.
- 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 DLE method is expected to deliver significant ESG benefits.
- A binding memorandum of understanding with Sunresin to develop a full-scale commercial lithium plant using its patented and proven DLE technology at the Paradox project
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Definitive feasibility study, released in September 2022, confirms the Paradox project’s outstanding economics and ESG credentials for Phase 1 lithium development.
- Anson Resources has expanded its lithium footprint in the Paradox Basin, in Utah, with the strategic pegging of the Green River Lithium Project, just 50 kilometers from the Paradox Project
- Its 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 goals.
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Developing a Near-Term Clean Energy Project in Utah
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.*