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Li assays increase by up to 70% in drilling of Clastic Zones at Long Canyon No. 2 Well
Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce further increases in lithium grades, of up to 70%, from drilling of the Clastic Zones at the Long Canyon No. 2 well, as part of the Company’s ongoing Resource expansion drilling campaign at the Paradox Lithium Project (the Project) in Utah, USA.
Highlights:
- Anson has delivered a further major increase in lithium assay grades from its ongoing Resource expansion drilling campaign at the Paradox Lithium Project, in Utah, USA
- Drilling of the Clastic Zones at the Long Canyon No. 2 well has returned Li grades up to 70% higher than those previously reported in fast-track assays last month
- Latest lithium (Li) and bromine (Br) results at Long Canyon No. 2 well include:
- 103ppm Li, 1,940ppm Br and 662ppm B in Clastic Zone 33 (11ft thick)
- 189ppm Li, 3,576ppm Br and 1,131ppm B in Clastic Zone 29 (18ft thick)
- 191ppm Li, 3,862ppm Br and 1,123 B in Clastic Zone 19 (38ft thick)
- 126ppm Li, 2,504ppm Br and 760ppm B in Clastic Zone 19 (46ft thick)
- Latest results also indicate that the lithium grades increase from north to south within the Project area
- Upgraded JORC Indicated and Inferred Resource planned to be confirmed in near future, and will include;
- The thicker Mississippian Units (187ppm Li, 3,793ppm Br);
- Clastic Zones 17, 19, 29 and 33 not included in the existing Paradox Resource; and
- There is also potential for further Resource expansion via targeted drilling in the western areas of the Project
- The Resource upgrade will be included in the Definitive Feasibility Study currently being completed
These latest results come from additional and larger brine samples taken from recent drilling of Clastic Zones 17, 19, 29 and 33 at Long Canyon No. 2 (see Table 1), and have returned an increase in lithium assay of up to 70% in some horizons compared to initial fast-tracked assay results at the Clastic Zones at Long Canyon No. 2 reported last month (see ASX announcement 18 July 2022).
These lithium assays also confirm that the lithium values increase from north to south in the Project area, as was previously identified in drilling of the Clastic Zone 31.
Anson has located the extraction pads in optimal locations, near the intersection of the geological structures, Robert’s Rupture and the Cane creek Anticline. These locations provide vertical porosity at a shallower depth for brine extraction. The extraction bores are approximately 1.5 km southwest of the Long Canyon Unit 2 well.
JORC resource upgrade
The additional assays for the Clastic Zones at Long Canyon No. 2 are shown in Table 1 along with assays from the Skyline and Cane Creek wells.
Based on these results, the Company plans to confirm a JORC resource upgrade incorporating all of the Clastic Zone horizons and the Mississippian Units to add to the Project’s existing JORC resource (see ASX Announcement 11 May 2020). This upgrade will result in these clastic zones extending the Indicated and Inferred Resource to the southern boundary of the Project area, and bringing existing Inferred resources and Exploration Target into Inferred and Indicated resources, see Figure 1.
Table 1: The assay results obtained for the Clastic Zones sampled in the Long Canyon Unit 2 re-entry compared to the other Anson re-entered wells.
Figure 1: Plan showing the AOI for potential Indicated and Inferred resources for the additional Clastic zones that may result from the Long Canyon No. 2 re-entry.
The Mineral Resource may be further increased by re-entering historic holes in the western areas of the Project which are currently classified as Inferred Resources or Exploration Target, due to a lack of data, see Figure 1. This has potential to deliver a significant increase in the block model resource tonnages and grades for the additional Clastic Zones, where there has been no recorded assays in these locations.
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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.*