Anson expands lithium footprint with new Paradox Basin project
Anson has pegged a new strategic lithium brine project in Utah’s lithium-rich Paradox Basin just 50km from its flagship Paradox project.
The company plans to leverage its experience and expertise in the region to fast-track exploration and resource delineation at the new 106.2km2 Green River lithium project where historical drilling has confirmed similar geology and features to the Paradox project.
Anson Resources (ASX:ASN) adds that previous drilling has identified brine in Clastic 31 and the Mississippian Units which contain supersaturated brine.
It intends to use the same successful strategy of re-entering existing oil wells that it used to quickly and cost effectively define new lithium-brine JORC resources at the Paradox project.
Surveys are currently underway ahead of a planned resource drilling program to expand the company’s global lithium resource in Utah.
“With the addition of this strategic new project to Anson’s lithium brine portfolio, the company plans to capitalise on the knowledge and experience it has acquired while developing the Paradox lithium project from grass roots through to a proven JORC resource, and into a planned future lithium producer,” executive chairman Bruce Richardson said.
“The Company has recently announced the commencement of its drilling program for the Western Strategy at Paradox, which is expected to further substantially increase the Project’s existing JORC Mineral Resource.
“The Green River Lithium Project is expected to further increase our ‘global’ JORC Resource in the USA and support future increases in production of lithium and other minerals from our proposed lithium producing operation in Utah, and, in turn, drive shareholder value.”
Green River overlies many historically plugged and abandoned oil and gas wells, which can be re-entered at a much lower cost than drilling new holes.
Many of these wells have been drilled into the thick Mississippian units, which appear to have similar geology and geological structures to the Paradox project.
Importantly, brines have been recorded in the Mississippian units and numerous Paradox clastic zones, including Clastic Zone 31 with drill stem testing recording pressures of up to 4,700psi – again similar to that at Paradox – while brine has flowed up the tubing in several cases, which is a sign that the rocks have high porosity.
Historical geophysical logs from the oil and gas wells in the project area are useful in characterising the brine aquifer formations.
Of particular interest is the lithology of the brine aquifer, as well as formation thickness.
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.