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Anson Resources Limited (ASX: ASN, ASNOC) (Anson or the Company) is pleased to announce that its current drilling program at the Company’s Paradox Lithium Project (the Project) in Utah, USA, has delivered major increases in flow rates, of up to 165%.
Highlights:
- Anson has delivered a major increase in flow rates in its Resource expansion drilling campaign at the Paradox Lithium Project in Utah, USA
- Artesian flow of supersaturated brine has increased by;
- 165% at Long Canyon No. 2 - flow rate of 180 bbl/h; and
- 147% at Cane Creek 32-1 - flow rate of 66 bbl/h
- The major increase in flow rates relative to Anson's original sampling programs is a result of improved connectivity between the wells and reservoir
- The increased flow rates indicate high pressures, porosity, and permeability providing the potential to deliver substantial improvements to project economics;
- Extraction via artesian flow without the need for pumping; and
- Potentially extend life of proposed Project
Anson’s ongoing resource expansion drilling program at Paradox is currently focused on the targeted Mississippian units at the priority Cane Creek 32-1 well. On re-entry at Cane Creek 32-1, Clastic Zone 31 horizon delivered a flow rate of 66 barrels/hour, an increase of 147% on the original recorded flow rate at this target. Brine flow at Cane Creek 32-1 from the recent drilling program is shown in Figure 1.
Similarly, an increase in flow rate of 165% was delivered from Anson’s recently completed drilling at the Long Canyon No. 2 well.
These results indicate that salts that have previously precipitated are breaking down over time due to the influx of brine – as a result of the positive attributes of high pressure, porosity, and permeability at the Paradox Project area.
A key positive outcome of the significantly improved flow rates is that it is anticipated they will push the brine to surface without the need for pumping. This would in turn deliver substantial benefits to the economics of extraction and the longevity of Anson’s proposed lithium producing operation at Paradox.
Figure 1: Supersaturated brine free flowing direct from the Cane Creek 32-1 well up the tubing.
The flow rates from the Clastic 31 horizon at both the Long Canyon Unit 2 and Cane Creek 32-1 wells re-entered in the current drilling program to sample the Mississippian units, have increased markedly since the original sampling program completed in 2018 and 2019 (see ASX Announcements, 27 June 2018 and 6 May 2019). The updated data is shown in Table 1.
Table 1: The upgraded flow rates at Long Canyon Unit 2 and Cane Creek 32-1 wells (*Skyline not re-entered).
The higher flow rate from Long Canyon No. 2 is due to the “Robert’s Rupture” geological feature, which has resulted in higher pressure and vertical porosity. Anson has located its two extractions well pads - Long Canyon West 1 (LCW1) and Long Canyon West 2 (LCW2) - in the immediate vicinity of Long Canyon No.2 and Robert’s Rupture to take advantage of this unique geological structure.
The flow rate of the well is affected by the condition and the degree of connectivity between the well and the brine reservoir. Salt precipitation in the clastic can result in poor connection, which was consistent with the flow rates measured during the original drilling program.
It is now considered that the brine flow generated in Anson’s current re-entry programs has resulted in the precipitated salt dissolving, which in turn has increased the flow rate into the well.
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This article includes content from Anson Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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.*
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
Click here for the full ASX Release
This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
