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Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce a substantial Exploration Target at its recently staked Green River Lithium Project (Project) in the Paradox Basin in south-eastern Utah, USA, which reaffirms a Mineral Resource potential similar to Anson's flagship asset, the nearby Paradox Lithium Project (Paradox Project).
Highlights:
Â- Substantial Exploration Target1 confirmed at Green River Lithium Project in Paradox Basin, Utah
- Mississippian units at Green River indicate a very large reservoir and the Clastic Zones at Green River are thicker than at Anson's flagship Paradox Lithium Project
- These factors contribute to the Exploration Target1 which Anson aims to convert to a JORC Resource via a small drilling and sampling program
- Green River hosts positive geological features similar to the Paradox Project including rock units and stratigraphy.
- Existing test-work and core planned to be used to help expedite a JORC Mineral Resource at the Green River Project
- Notice of Intent for planned re-entry program currently being completed at Green River to allow for commencement of drilling and sampling to define a Mineral Resource
The Green River Project was staked in January and covers an area of 10,620 hectares (106.2km2), 50 kilometres northwest of the Paradox Project (ASX announcement, 30 January 2023) (Figure 1).
The Paradox Project hosts a JORC Mineral Resource of 1.038Mt of Lithium Carbonate Equivalent (LCE) and 5.27Mt of Bromine (ASX announcement, 2 November 2022), which is currently subject to further expansion via the Company’s Western Resource expansion drilling campaign.
The Green River Project exhibits all the positive geological characteristics of the Paradox Project including rock units and stratigraphy.
Supersaturated brines have been intercepted in historical oil and gas drilling at the Green River Project, which has enabled Anson to confirm a substantial Exploration Target of; 2.0 billion tons to 2.6 billion tons of brine, grading 100 – 150ppm Li and 2,000 – 3,000ppm Br, see Table 1.
Table 1: Exploration Target estimation for the Green River Lithium Project - for the combined Mississippian Leadville and Pennsylvanian Paradox Units.
The Exploration Target figure is conceptual in nature as there has been insufficient exploration undertaken on the Project to define a mineral resource for the Leadville units. It is uncertain that future exploration will result in a mineral resource.
Figure 1: A plan showing the location of Anson’s two lithium brine projects in Utah in the Paradox Basin.
The thicknesses of each horizon containing the recorded supersaturated brines within the Green River Project is shown in Table 2. The thicknesses of the Mississippian units show that it is a very large reservoir. In addition, the Clastic Zone horizons are thicker at Green River compared to the Paradox Project.
Both contribute to a significant Exploration Target which is expected to be easily converted to a JORC Resource by completing a small exploration program.
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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.*