Anson is another step closer to converting the mineral resources at the Paradox Basin lithium project into Ore Reserves following the completion of a 3D Geological Model.
The model covers the region hosting both the Paradox and Green River lithium projects and is currently being imported into a numerical Hydrogeological Flow Model, which will be used in the conversion of the JORC Inferred Resources into the Indicated category and from there, into JORC Ore Reserves.
Anson Resources (ASX:ASN) says this step marks an important milestone in its development strategy – converting the lithium JORC Resources into JORC Ore Reserves is essential for obtaining project funding for the company’s Paradox Basin lithium projects.
Next steps facilitate project planning
The next stage is to import the 3D geological model into a third-party proprietary modelling software package, with advanced capabilities which supports a wide range of grid types, to create a numerical brine flow model for the project areas.
This will facilitate project planning, permitting, operations and JORC Ore Reserves estimation, ASN says.
The 3D geological model will aid in developing the structure of the groundwater to confirm flow rates and will inform the Front-End Engineering and Design (FEED) study currently being undertaken by the company, in conjunction with Worley and Anson’s technology providers.
Green Energy project acquisition
Anson entered into an agreement to purchase the strategically located Green Energy lithium brine project from Legacy Lithium Corp in the Paradox Basin in southeast Utah, USA earlier this week.
The Green Energy project consists of 208 placer claims covering 16.85km2 that abut Anson’s Paradox project and will result in the Paradox project becoming one contiguous mineralised block – with an 8% increase in land area.
This increase in project area is expected to result in an increase in the exploration target by 14% to 310 million tonnes to 350 million tonnes of brine, grading 108–200ppm Li and 2,000–3,000ppm Br.
This article was developed in collaboration with Anson Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.