Anson Resources closer to drilling at Paradox with US Federal and State government approvals in the bag
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A positive outcome at both Western Strategy drill sites at the Paradox lithium project in Utah, USA, puts Anson on the fast-track to begin its Western Strategy Mineral resource drilling program.
Anson Resources (ASX:ASN) is looking to extract lithium from brines contained in an historic oil well field in the Paradox Basin in south-eastern Utah through the preparation of two drill wells which may extend the resource at the site to the west.
Anson and the USA Department of the Interior Bureau of Land Management (BLM) personnel, plus representatives of the Utah State Division of Oil, Gas and Mining (UDOGM), visited both drill sites for its Western Strategy drilling program including the Mineral Canyon well and Sunburst well.
The 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.
In a nutshell, Anson hopes to increase the existing JORC mineral resource estimate, both vertically and horizontally at both the Mineral Canyon and Sunburst wells.
The program is designed to sample the thick Mississippian units, and the Pennsylvanian clastic horizon, and is expected to generate a large amount of additional data which will be utilised to upgrade the mineral resource of 1.04Mt of Lithium Carbonate Equivalent (LCE) and 5.27Mt of bromine.
It forms part of Anson’s wider mineral resource expansion strategy in the Paradox Basin, where drilling is also planned to commence at the Green River Lithium Project, roughly 50km to the north-west.
The assay results and flow testing of the brines will result in the areas surrounding the wells being included in an upgraded JORC mineral resource at the project.
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.