Anson packing on the pounds at the Paradox lithium project
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Anson has demonstrated its belief in the prospectivity of its flagship Paradox lithium brine project in Utah by increasing the project area by 28% to 214km2.
The acquisition of 586 claims abutting the northwestern edge of the project area expands the company’s footprint over the lithium-rich aquifers in the northern area of the Paradox Basin.
Anson Resources (ASX:ASN) will include the new claims in the Western Strategy Resource drilling program, which is expected to increase both Inferred and Indicated resources at the project.
The lithium-rich brines at Paradox have already proven to be capable of flowing without the need for pumping and at rates high enough to potentially generate hydropower.
Anson plans to drill the Mineral Canyon and Sunburst wells to sample the thick Mississippian units, and the Pennsylvanian clastic horizon.
This is expected to deliver a large amount of additional data that will be used to upgrade and expand the existing JORC Resource.
The assaying and flow testing of the brines at these wells would result in the surrounding area being included in the Indicated and Inferred resource categories.
Federal and state approvals for the drilling are already in place after a site inspection found no issues during the visit and confirmed the well locations are clearly marked and the drill pads required for the re-entry project can be readily established.
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.