Anson Resources hits milestone in its quest for Lithium expansion at Paradox

The target depth of 2,334m at Long Canyon No.2 Well represents a key milestone in the current phase of Anson’s resource expansion drilling program at the Paradox Lithium Project.

The aim of the program is to target the large Mississippian supersaturated brine aquifer in this unit, with the aim of converting the previously identified exploration target into an indicated and inferred resource.

Anson Resources (ASX:ASN) says its planned JORC resource upgrade at its Paradox Lithium Project will support the development of the Project into a substantial lithium producing operation in Utah, the neighbouring state of Nevada, home to Tesla’s Gigafactory 1.

Drilling set for completion by June

The previously sampled Clastic Zone 31 horizon has been sealed and the cast iron plugs of the abandoned well have now been drilled out.

This will enable access to the Mississippian units to collect brine samples for testing for lithium and other minerals.

It is expected the drilling of the Mississippian Units will be completed next month and results released when available.

Drilling will also include the collection of diamond core to be used to estimate porosity, specific yield and permeability which are required for the JORC Resource upgrade.

Resource expansion program

The focus of the resource expansion drilling is to deliver a significant resource upgrade at Paradox combining an ‘Eastern’ and ‘Western’ expansion strategy.

Anson is focused on increasing the Project’s existing JORC 2012 resource both vertically and horizontally at existing targets, and also defining resources at new claims adjacent to Paradox.

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.