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Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce the commencement of site works at the Mineral Canyon and Sunburst wells in preparation for its Western Strategy Mineral Resource drilling program at the Paradox Lithium Project (Project) in the Paradox Basin in southeastern Utah, USA, see Figure 1.
Highlights:
- Earthworks program underway in preparation for Western Strategy drilling program at Paradox Lithium Project in Utah, USA
- Earthworks will re-instate drill pads to allow for commencement of Mineral Resource expansion drilling at the Mineral Canyon Fed 1-3 and Sunburst 1 wells
- All government approvals completed and bond paid – drilling to commence of completion of site works
- Westen Expansion drilling designed to increase the existing JORC Mineral Resource at Paradox to support future expansion of the Project’s proposed lithium carbonate plant
Anson plans to re-enter two targeted wells - Mineral Canyon and Sunburst - in the Western Strategy drilling. The program is designed to sample the thick Mississippian units and the Pennsylvanian clastic horizons to further increase the Project’s existing JORC Mineral Resource of; 1.04Mt of Lithium Carbonate Equivalent (LCE) and 5.27Mt of Bromine, see ASX Announcement 2 November 2022.
This drilling forms part of Anson’s Mineral Resource expansion strategy in the Paradox Basin, where drilling is also planned to commence at the Green River Lithium Project, located 50 kilometres to the north-west, see ASX Announcement 13 March 2023.
The Western Strategy drilling at the Project will aim to increase the existing JORC Mineral Resource estimate, both vertically and horizontally. This drilling is expected to generate a large amount of additional data that will be utilised to upgrade the Mineral Resources.
It is anticipated that the assay results and flow testing of the brines will result in the areas surrounding the wells being included in an upgraded JORC Mineral Resource at the Project.
Figure 1: Re-instatement of the original Mineral Canyon pad in the Western region of the Paradox Lithium Project.
Positive ESG Aspects
The Western Strategy drill program is designed to have as little impact as possible on the environment, social and recreational activities within the drill location areas. There will be minimal new ground disturbance as the drill pads are already established and are just required to be re- instated, not excavated from scratch (Figure 1).
The use of areas already subject to ground disturbance is consistent with Anson’s aim of developing a sustainable project and minimising environmental impact.
Anson and USA Department of the Interior, Bureau of Land Management (BLM) personnel have previously visited both the Mineral Canyon and Sunburst well sites and have identified that the well locations are clearly marked and that the drill pads required for the re-entry program, can be readily re-established, see ASX Announcement 5 October 2022.
The Sunburst well is located immediately adjacent to road infrastructure and the Mineral Canyon well also has easy access, located adjacent to a graded county road, see Figure 2.
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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.*