Everything’s on the boil for Anson following Paradox Lithium Project drilling
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The latest phase of resource expansion drilling at the Long Canyon No.2 Well has delivered pressure of 3,785psi, which correlates with historically recorded high pressures across the project area and represents a highly positive outcome from this phase of drilling.
The Mississippian supersaturated brine aquifer hosts a substantial lithium-rich zone roughly 70m to 250m thick; an exciting development for Anson Resources (ASX:ASN).
Combined with the Drill Stem Tests (DST) data from historic wells within the project area, these results indicated that the Mississippian strata has a high permeability across a large area.
Better yet, the high pressure, porosity and permeability is expected to deliver continual flow at the extraction well location over the proposed life of mine at the Paradox Lithium Project in Utah, USA.
Anson’s executive chairman and CEO Bruce Richardson says these “very high” pressures are expected to allow the brine to flow from an area with a radius of 10km.
“This is why we are confident that the pressure will not drop, or the flow will slow down over distance and time, as is known to occur with oil wells,” he says.
First brine samples from the Long Canyon Unit 2 well and Clastic Zones 33, 29, 19, and 17 have been sent to certified laboratories to assay for lithium, bromine, and other minerals.
Resource expansion drilling has progressed to the high-priority Cane Creek 32-1 well, where drilling aims to convert a large portion of the Paradox exploration target into indicated and inferred resources.
The resource upgrade will support a Detailed Feasibility Study (DFS) and the proposed development of the Paradox Project into a substantial lithium (and bromine) producing operation.
Leading global engineering solutions firm Worley is undertaking the DFS for the development of a lithium production facility at 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.