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Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce the strategic expansion of the Paradox Lithium Project (the Project) in the Paradox Basin, in south- eastern Utah, USA.
Highlights:
- Anson has expanded its flagship Paradox Lithium Project in Utah via the strategic addition of 586 claims that abut the north-western edge of the Project area
- The new claims increase the Project area by 28% to 214km2 of contiguous tenure highly
- prospective lithium-rich brines
- Expand Anson’s large footprint over the lithium-rich aquifers in the northern area of the Paradox Basin
- Anson has already confirmed the presence of lithium-rich supersaturated brines in the area
- New claims are to be included in the Western Strategy Resource drilling program and based on the area of influence, are expected to deliver an increase to the Indicated Resource and Inferred category in the planned upgraded Resource Model
Anson’s wholly-owned Utah based subsidiary, A1 Lithium Inc., has staked an additional 586 placer claims immediately adjacent to the north-western extent of the Paradox Project area. The new claims abut the Petro, Cloud III and MP claims and increase the Project’s footprint by 28%, to a contiguous ground holding of 214km2 which is highly prospective for lithium rich brines (Figure 1).
The expanded Project area is planned to be included in Anson’s Western Strategy Mineral Resource drilling program, which is due to start in the near future (ASX announcement, 4 May 2023).
The presence of lithium-rich supersaturated brines has been confirmed in the area, and it is anticipated that the new claims may increase the Indicated and Inferred JORC categories of the Mineral Resource based upon the area of influence of the drilling program, if successful, on re- entering the Mineral Canyon well (Figure 2).
A successful Western Strategy drilling program is part of Anson’s plan to continue to increase the Project’s JORC Mineral Resource estimate, both vertically and horizontally. Drilling of the two target wells in the Western Strategy drilling - the Mineral Canyon and Sunburst wells - will deliver a large amount of additional data that will be used to upgrade and expand the existing JORC Resource.
The assaying and flow testing of the brines would result in the areas surrounding the wells being included in the JORC Indicated and Inferred categories.
Figure 1: Plan showing the new claims pegged in relation to the State Parks to the south.
Figure 2: Possible JORC Area of Interests (AOI) after Western Strategy drilling program.
Figure 3: Looking north towards the newly stake claim area
This announcement has been authorised for release by the Executive Chairman and CEO.
Click here for the full ASX Release
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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.*
