Anson has green light for Paradox lithium resource expansion drilling
Anson has been granted the final approval for the Western Strategy resource expansion drilling program at its flagship Paradox lithium project in Utah.
This follows the payment of the requisite Reclamation Bond to the Utah State Treasurer.
Anson Resources (ASX:ASN) will now commence its re-entry drilling and sampling program at the Canyon Fed 1-3 and Sunburst 1 wells, which will test the lithium-rich brines of the Mississippian and Pennsylvanian aquifers.
Both wells are located less than 1,000m from known lithium-rich brines that were previously sampled in the “Big Flat” area during historical oil and gas drilling.
Adding interest, all clastic zone and Mississippian horizons are continuous from those sampled during the successful initial Eastern Strategy drilling program.
Western Strategy program is intended to substantially increase the Paradox project’s current JORC resource of 1.04Mt lithium carbonate equivalent and 5.27Mt bromine.
There is plenty of room for growth given that the Exploration Target for the Western Strategy area is between 2.1Bt and 2.56Bt of brine grading 108 parts per million to 200ppm lilthium as well as 2,000ppm to 3,000ppm bromine.
This works out to between 1.1Mt and 2.7Mt of lithium carbonate equivalent and 4.2Mt to 7.68Mt of bromine.
This article was developed in collaboration with Anson Resources (ASX:ASN), 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.