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Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce that it has successfully drilled additional new zones at the priority Cane Creek 32-1 well in its ongoing Resource expansion drilling program at its Paradox Lithium Project in Utah, USA (the Project).
Highlights:
- Anson has targeted four additional Clastic Zones at the priority Cane Creek 32-1 well in its ongoing Resource expansion drilling program at the Paradox Lithium Project
- The zones sampled contain supersaturated brines similar to the previously sampled Clastic Zones where a JORC Indicated and Inferred Resource has been confirmed
- Samples have been sent for quick turn-around laboratory analysis
- Results from the sampling of these additional Clastic Zones are to be included in future JORC Resource upgrades
Drilling has sampled additional Clastic Zones 41, 43, 45 and 47 after drilling through the old casing of the Cane Creek 32-1 well while drilling down to the Mississippian unit targets, see results in Table 1.
These additional sampled Clastic Zones have the potential to contribute to the upcoming Resource upgrade at Paradox and deliver new Indicated and Inferred Resources in these horizons which are not previously included in the Project’s existing JORC Resource or Exploration Target.
Table 1: The depths and thicknesses of the newly sampled clastic zones.
The assay results, if favourable, will confirm that multiple additional clastic zones contain lithium- rich supersaturated brines, see Table 2, in addition to the five previously sampled in Anson’s drilling programs (see previous ASX Announcements).
This assay data and rock chip samples from these new horizons will also provide additional geological information on the brine horizons in the Project area, which can be sampled in future exploration programs.
The brine samples have been sent to a nearby laboratory for a quick assay turnaround and have also been sent to SGS North America (Oil, Gas and Chemical Division) in Texas, where all samples from Anson’s previous drilling at the Project had been sent. The SGS laboratory specialises in brines which can be associated with the oil industry. The brine sample is fast-tracked so it can be determined what additional work should be carried out.
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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.*
