Anson Resources has signed a letter of intent to acquire 140.39 acres (0.568 km2 ) of privately owned land for US$2.4 million to become the site for the Green River lithium project’s proposed mineral extraction and processing plant in Utah, USA.

The industrial zoned property is less than 1km from the project and importantly, includes water rights allowing for the extraction of water from either the Colorado or Green Rivers – further adding water security for the successful operation of a future project, the company says.

The proposed agreement also includes all oil, gas and mineral rights underlying the surface area of new tenure.

Anson Resources (ASX:ASN) has secured exclusive rights to the property for purchase completion before April 2024, and due diligence is currently being conducted.

Funded by future cash flow from Paradox

The company plans to leverage its experience and expertise in the region to fast-track exploration and mineral delineation for the Green River Project and intends to fund the development of this project from future cash flow generated by the nearby Paradox Project.

Green River has an estimated exploration target of; 2.0 billion tons to 2.6 billion tons of brine, grading 100 -150ppm Lithium and 2,000 – 3,000ppm Bromine.

The company has lodged applications with the Bureau of Land Management (BLM) for the re-entry of three wells at the Green River Project area.

Anson
Six parcels of privately owned land to be purchased at Green River. Pic: Supplied (ASN)

Potentially a less rigorous approval process

The site also provides easy access to the national rail network, interstate road system and gas and power infrastructure, plus access to the Green River.

Notably, privately owned land is subject to a less rigorous approval process for drilling, extraction, transportation and disposal, and given the size of the area to be acquired, all of these activities may be performed within the property boundaries.

The company is now investigating these opportunities in more detail and will provide further information to the market as this investigation concludes.

 

 

 

This article was developed in collaboration with Anson Resources Limited, 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.

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