Anson sees up to 70pc lithium grade improvements at Paradox

Anson’s Paradox lithium project in Utah is looking increasingly attractive with assaying of brines from the Clastic Zones returning a 70% increase in grades compared to initial assaying.

Brines recovered from Clastic Zones at the Long Canyon No. 2 well returned assays of up to 191 parts per million lithium, 3,862ppm bromine and 1,123ppm boron in the 12m thick Clastic Zone 19 – a substantial improvement over results from fast-track assays which were received last month.

Additionally, Anson Resources (ASX:ASN) noted that the lithium grades appear to increase from north to south within the project area.

That the result mirrors the upgrade in lithium grades seen in the deeper Mississippian Unit just adds further to Paradox’s potential.

The company is planning to release an upgrade of the existing resource at the Paradox Project on completion of its current drilling campaign. This will include the thicker Mississippian Units and Clastic Zones 17, 19, 29 and 33 which are not included in the existing Paradox resource. There is also potential for further resource expansion via targeted drilling in the western areas of the project.

Paradox currently has a resource of 186,000t of lithium carbonate equivalent.

This resource upgrade will be included in the Definitive Feasibility Study which is currently being completed.

Paradox lithium project

The Paradox lithium projects cover 167km2 of prospective ground in Utah, which positions it well to benefit from the US push towards electric vehicles and battery storage.

Recent testing of the Long Canyon No.2 well had delivered strong flow rates of up to 180 barrels of brine per hour, up 165% from the original recorded flow rate, while assays confirmed high concentrations of lithium and bromine from both the Clastic Zone 31 and Clastic Zone 17.

This proves the ability of the brine reservoir to flow without the use of pumping, which has the potential to not only reduce the cost of extraction but also increase the producible life at Paradox.

The stronger brine flow rates are attributed to the “Robert’s Rupture” geological feature, which has resulted in higher pressure and vertical porosity.

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.