- The acquired privately-owned industrial land will host a proposed Green River lithium plant
- Subject to a less rigorous approval process for drilling, extraction, transportation and disposal
- Land includes rights to extract water from either the Colorado or Green Rivers
Anson has its eyes firmly on the future after completing the strategic acquisition of privately-owned, industrial use land to host the proposed lithium processing plant for its Green River project in Utah.
The 106.2km2 Green River project, about 50km northwest of the company’s flagship Paradox lithium project, was staked in January 2023.
It intends to develop Green River – which has positive geological, metallurgical and structural similarities with Paradox – into a significant lithium producing operation in parallel with Paradox.
Notably for Anson Resources (ASX:ASN), Green River is a potentially large project with a conceptual Exploration Target of between 2Bt and 2.6Bt of brines grading 100 parts per million to 150ppm lithium and 2,000ppm to 3,000ppm bromine.
Interestingly, drilling of the Mississippian units has resulted in brine flowing to the surface at Green River, which did not occur at the Paradox project.
This has the potential to reduce operating costs as it eliminates the need for mechanical pumping to extract brines from depth.
Acquisition ticks off more than one box
The newly acquired 56.8 hectare industrial zoned property is less than 1km from the project and provides easy access to the national rail network, interstate road system and gas and power infrastructure – making it perfect for the proposed lithium extraction and production facility.
Being privately-owned, it 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.
Importantly for Anson, the property includes water rights allowing for the extraction of water from either the Colorado or Green Rivers – adding water security for the successful operation of a future project.
These combine to offer substantial time and cost savings for the project’s future development requirements.
The company has now completed the acquisition after paying the vendor US$2.4m ($3.73m).
“We are excited about the potential to develop a lithium extraction and processing plant at the newly acquired site at Green River,” Anson CEO Bruce Richardson said.
“Private, industrial use land is difficult to secure in eastern Utah, as the approval process for privately-owned land is significantly less onerous.”
Current and ongoing work
Anson has started design and engineering studies over the area.
These include an electrical engineering study as well as a geotechnical survey generated drilling program for the foundation of buildings, potable water supply and the engineering design for the extraction of water from Green River.
It is also preparing a Conditional Use Permit for the development of infrastructure development and the construction of the processing plant.
Work has also commenced on the preparation of application for other required licences, and these will be announced to the market as they are completed.
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.
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