Anson Resources

Anson Granted Approval for Western Strategy Resource Expansion Drilling Program

Anson Resources Limited (ASX: ASN, ASNOC) (“Anson” or the “Company”) is pleased to announce that approval has been granted from the USA, Department of the Interior, Bureau of Land Management (BLM) for its western Resource expansion drilling program at the Paradox Lithium Project (the Project) Utah, USA.

Highlights:

  • Approval for re-entry of the Mineral Canyon Fed 1-3 and Sunburst 1 wells granted by the USA, Department of Interior Bureau of Land Management (BLM)
  • Approval allows Anson to commence its Western Strategy Resource expansion program at the Paradox Lithium Project in Utah, USA
  • Anson plans to deliver a further substantial JORC resource increase by converting existing Inferred Resources and large Exploration Target into Indicated and Inferred Resources
  • Re-entry programs in the Western Strategy will target both the lithium-rich Mississippian brine aquifer and the clastic horizons
  • Anson recently completed its resource expansion program at the Cane Creek well and results are expected to deliver a significant JORC Resource upgrade in the near-term
The BLM has approved Anson’s Plan of Operation (POO) to re-enter and sample the Sunburst 1 and Mineral Canyon Fed 1-3 wells at the Project. This is a further significant step in the Company’s Resource expansion program and will allow the commencement of its Western resource expansion strategy.

Under its ‘Western Strategy’, Anson plans to conduct a re-entry program to convert the existing Inferred Resource and Exploration Target to a combined Indicated and Inferred Resource, see ASX Announcements of 10 September 2020 and 26 July 2021.

In addition, it is proposed that some of the area located west of the targeted Sunburst and Mineral Canyon wells will be included in a further Resource update when the program at Sunburst and Mineral Canyon is completed. The additional Indicated Resource Area-of-Influence (AOI) which may be included is shown in Figure 1 by the magenta outline and the additional Inferred Resource is shown by the red outline.

As a result of this proposed program of work, Anson has upgraded the Exploration Target of both the Mississippian Units and Pennsylvanian Paradox Units for the Western Strategy to a combined range of 2.10 billion tons to 2.56 billion tons of brine.

The contained lithium and ultimately the amount of lithium carbonate and contained bromine in the supersaturated brine is shown in Table 1. The Exploration Target areas for the Mississippian units are shown in Figure 1.


Click here for the full ASX Release

This article includes content from Anson Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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