Resource Definition Drilling Program To Commence At Green River Lithium Project

Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce that it has submitted a Notice of Intent (NOI) to the USA, Department of the Interior, Bureau of Land Management (BLM) to commence drilling at its Green River Lithium Project (Project) in the Paradox Basin in Utah, USA.

Highlights:

• A Notice of Intent (NOI) to re-enter wells at the Green River Lithium Project has been submitted to facilitate the commencement of Resource definition drilling at the Project
• The Project exhibits a number of positive geological feature and drilling records show that brine flows to surface from porous Mississippian units without pumping in some wells
• Brines will be sampled and metallurgically tested using the environmentally friendly Direct Lithium Extraction process
• The Resource drilling program at Green River is planned to run in parallel with Resource drilling in the western region of the nearby flagship Paradox Lithium Project
• Results from both programs are planned to contribute to an increase to Anson’s global lithium Resource in the Paradox Basin to meet increasing lithium demand

Drill Program Details

The Green River Project comprises a total of 1,261 placer claims over an area of 106.2km² (10,620 hectares), see Figure 1. Anson plans to conduct a three-well re-entry program, with brine sampling and pump testing, on the targeted clastic zone horizons and the Mississippian units at the Green River Project. The program is designed to support the conversion of the Project’s Exploration Target to a JORC Mineral Resource (ASX announcement, 15 February 2023).

The Company aims to commence the drill program as soon as the NOI has been accepted by the BLM. Drill pads remain in place from previous drilling, see Figure 2 - and other drill pads only require to be re-established, see Figure 3. This will ensure minimal new ground disturbance.

Figure 1: A plan showing the location of Anson’s two lithium brine projects in Utah.

In addition, the drill pads are located close to existing roads, which means no new access routes will need to be created. Both these factors will contrubite to minimal impact on the environment, social and recreational activities within the Project area. The use of areas where there has already been ground disturbance is consistent with Anson’s aim of developing a sustainable project and minimising environmental impact.

The program may be readily extended, as all equipment is either on-site at the Green River or Paradox Projects.

Drilling records indicate that the targeted geological units at Green River are continuous from the nearby Paradox Project and have similar properties, see Table 1. Drilling of the Mississippian units has resulted in brine flowing to the surface at Green River, which did not occur at the Paradox Project. This provides the potential for reduced operating costs at Green River, as no mechanical pumping may be needed to extract brines from depth.

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