Anson Resources

Strategic Expansion Of Paradox Lithium Project

Additional Claims to be Included in Upcoming Resource Upgrade

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

This article includes content from Anson Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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