Anson fist-pumping as Paradox lithium brine flows more than double

Anson’s excitement about its Paradox project’s ability to flow lithium brines without pumping has gone up another notch after ongoing drilling delivered a big increase in flow rates.

Flow rates of up to 180 barrels per hour were recorded at the recently drilled Long Canyon No.2 well, a 165% increase on the original recorded flow rate at the target, while re-entry of the priority Cane Creek 32-1 well delivered a 147% increase to 66bbl/h from the Clastic Zone 31 horizon.

Anson Resources (ASX:ASN) attributes this very welcome increase over its original sampling programs to improved connectivity between the wells and reservoir as salts that had previously precipitated break down over time due to the influx of brine.

This is due to high pressure, porosity and permeability of the Paradox project area and further supports the belief that lithium brines will flow to surface without pumping.

Not only will the free-flowing brines potentially result in lowering the cost of extraction, it may also extend the life of Anson’s proposed lithium producing project at Paradox.

Higher flow rates targeted

The company added that the higher flow rates recorded at Long Canyon No.2 are due to the “Robert’s Rupture” geological feature, which has resulted in higher pressure and vertical porosity.

Unsurprisingly, it has located its two extractions well pads – Long Canyon West 1 (LCW1) and Long Canyon West 2 (LCW2) – in the immediate vicinity of Long Canyon No.2 and Robert’s Rupture to take advantage of this unique geological structure.

Likewise, the ability of the Clastic Zone 31 horizon to deliver natural lithium brine flow is also due to constant higher pressures and good porosities.

Fractured clastic zones also make excellent reservoirs for supersaturated brines as salt will flow into voids from where the brine has been removed, which will help maintain high reservoir pressure and assist in a high ultimate recovery of brine.

Adding to this potential, assaying of samples taken from the Mississippian Units targeted by Long Canyon No.2 have returned results of up to 100 parts per million lithium and 2,460ppm bromine, 25% above the minimum 80ppm lithium anticipated in an exploration target from historical oil and gas wells.

This is another tick on the scorecard given that the units sit outside Anson’s current JORC Resource of 186,000t lithium carbonate equivalent at Paradox and as such are likely to deliver a step change in its lithium resource. Anson plans to deliver a substantial Resource upgrade at the Project at the conclusion of its current drilling campaign.

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.