Anson flags new lithium-rich horizons at Paradox Project

Anson Resources has discovered new lithium-rich horizons at the Cane Creek 32-1 well at its Paradox Lithium-Brine Project in Utah, USA, which have potential to increase the Project’s recently upgraded JORC resource.

The new lithium-rich super saturated brines were found in Clastic Zones 43, 45, 47 and 49 during Resource-definition drilling into the deeper 121m thick Mississippian Units at the Cane Creek 32-1 well.

Notably, assay results from Clastic Zones 43, 45, 47 and 49 average 100ppm lithium which is ~17% higher than average grade of Clastic Zones 17, 19, 29 and 33 included in the recent Resource upgrade.

Could add tonnes to resources

Drilling is now complete at Cane Creek and assays from the new Clastic Zones plus pending assays from the Mississippian units lead Anson Resources (ASX:ASN) to believe they have the potential to add tonnes to the Indicated and Inferred Resources.

“The new discovery provides significant upside to convert existing Exploration Targets to Indicated and Inferred JORC estimates,” the company said.

“It is also to be noted that a number of these additional clastic zones are much thicker than the zones previously sampled and used in the recent JORC resource upgrade.

“The extra thickness in the new clastic zones has the potential to deliver a large increase in a further planned mineral resource upgrade, which will incorporate results from the Cane Creek drilling.”

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.