Paradox potential: Anson ups lithium grades by a supersaturated 87%
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As if increased lithium brine production rates weren’t enough, Anson has further boosted the attractiveness of its Paradox project by reporting a 87% increase in lithium grades.
Assaying of brines recovered from the Long Canyon No. 2 well returned an average grade of 187 parts per million (ppm) lithium and 3,793ppm bromine throughout the entire Mississippian Unit, indicating that this massive, supersaturated brine aquifer is lithium and bromine rich.
That this is 87% higher than the first assay of brines collected at the top of the Mississippian unit, 134% greater than the only historical lithium value recorded at the Paradox project and higher than the maximum (140ppm) lithium grade range used in Anson Resources’ (ASX:ASN) exploration target bodes well for the upcoming resource upgrade.
Highlighting just how significant this could be, the exploration target for the Mississippian supersaturated brines was previously estimated at 1.3Bt to 1.8Bt of brine grading 80ppm to 140ppm lithium and 2,000ppm to 3,000ppm bromine.
This is thanks to the Mississippian Units hosting a massive brine aquifer with a thickness of between 70m to 170m about 500m below the clastic zones which were used to calculate the existing Inferred and Indicated resource.
Paradox currently has a resource of 186,000t of lithium carbonate equivalent.
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.
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.