The Conversation (0)
Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (“Anson” or “the Company”) is pleased to announce the execution of a binding Memorandum of Understanding (MoU) with leading global lithium extraction technology provider Sunresin New Materials Co. Ltd (Sunresin), for a long term strategic and commercial alliance for Anson’s Paradox Lithium Project (Project) in Utah, USA.
Highlights:
- Anson has executed a binding MoU with leading global DLE technology provider Sunresin for a long term strategic and commercial alliance
- Sunresin has successfully concluded eight months of engineering design work for the Paradox Lithium Project’s DFS – DFS to be released in near future
- Anson to work closely with Sunresin to negotiate agreements for construction of a full-scale commercial lithium plant using Sunresin’s patented Direct DLE technology
- Sunresin’s DLE technology has been commercialised with four operating projects and a further six under construction or under contract in China and South America with a total production capacity of 73,000tpa
Figure 1: Zangge Lithium Plant supplied by Sunresin now in production. Plant constructed in 2018.
The Company’s engagement with Sunresin began in 2019 during a search for a DLE technology that was the most suitable for Paradox Lithium Project’s brine. Four DLE alternative technologies were trialled over the next year. The binding arrangement is the culmination of 12 months collaborative work between Anson and Sunresin, where Anson has conducted several rounds of test work using Sunresin’s patented Direct Lithium Extraction (“DLE”) process in Xian, China in 2020 and in 2021 using a small scale DLE pilot plant at an independent laboratory in Salt Lake City, USA. This test work proved highly successful and delivered a lithium recovery rate of 91.5%, see ASX announcement 13 August, 2021.
Since November 2021 Sunresin has worked with global engineering firm, Worley on the Paradox Lithium Project’s Definitive Feasibility Study (DFS). The engineering and design work to the DFS level has been completed.
Sunresin, Worley and Anson have worked together as a team in the engineering design of Stage 1 of the Project, which has provided the basis for the cost estimates to be released in the upcoming DFS. This combined engineering team has developed a design that will integrate Sunresin’s DLE process and the downstream equipment required to produce lithium carbonate with utilities and other inputs to operate successfully in Utah, USA.
Under the terms of the binding MoU, Sunresin will provide equipment, consumables, innovations, and technical support services to Anson for the development, design, construction, operation and optimisation of Sunresin’s proprietary DLE technology for the production of battery-grade lithium carbonate at the Paradox Project. Anson will supply data related to the Project, including results of the DFS when completed. There is no financial implications to Anson as the parties are to cooperate with each other at their own cost in their efforts to pursue the provision of Sunresin’s technology assistance in Project development, engineering design, construction, operations and optimisation, with an aim to reach a commercial agreement in due course. There is no fixed term to the MOU.
Anson will also have guaranteed access to Sunresin’s global supply chain of distribution centres and technical support network in Asia and Europe, to support Anson’s strategic development of the Project. In addition, Sunresin will provide Anson with technology updates, innovations and support during the life of the proposed Project, including future expansions and optimisations.
As highlighted in ASX announcement 13 August 2021, Sunresin’s DLE technology indicates the opportunity to deliver ESG, operational and economic advantages in producing lithium carbonate at the Paradox Project, including:
- Lithium DLE estimated recovery of 91.5%
- No requirement for pre-treatment
- Use of water (organic process) rather than chemicals to wash the lithium from resin
- Longest recovery lifespan of bulk industry-grade lithium extracting resin to maximise the unit cost of production for the DLE process.
Anson undertook an extensive assessment of potential lithium extraction technologies for the Paradox brines prior to the selection of Sunresin as its DLE technology partner.
Anson’s Executive Chairman, Mr. Bruce Richardson stated:
“We are delighted to announce the strategic partnership with Sunresin as our technology partner today. Sunresin’s DLE technology is the most attractive for the Paradox Lithium Project’s brine and meets our goal of producing the highest quality and cleanest lithium carbonate in the United States. We look forward to a long association with Sunresin.”
Click here for the full ASX Release
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.
