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Anson Resources Limited (Anson or the Company) is pleased to announce consistent high pressures within the targeted, priority Mississippian Unit (Leadville and Madison Formations) in its recently completed Resource definition-focused drilling at the Long Canyon No. 2 well, at the Company’s Paradox Lithium Project (“the Project”) in Utah, USA.
Highlights:
- Anson has completed the latest phase of its Resource expansion drilling campaign, at the Long Canyon No. 2 well at the Paradox Lithium Project
- Drilling into the targeted Mississippian Unit has successfully confirmed consistent high-pressures
- 3,785psi recorded at the Long Canyon Unit 2 well
- The high pressure, porosity and permeability is expected to deliver continual flow at the extraction well location over the proposed life of mine at Paradox
- Similar high-pressure results recorded in the Mississippian Unit, in a radius of up to 10 km from Long Canyon No. 2
- Drilling has now progressed to the high-priority Cane Creek 32-1 well
- Anson’s drilling campaign aims to convert the Project’s existing Exploration Target into an Indicated and Inferred Resource
Anson has completed the latest phase of its ongoing Resource expansion drilling program, at the Long Canyon No. 2 well, recording a pressure of 3,785psi. Drilling successfully targeted the large Mississippian supersaturated brine aquifer which hosts a substantial lithium-rich zone of ~70m- 250m thickness. Drilling aims to convert the existing Exploration Target into an Indicated and Inferred Resource (see ASX Announcement 17 January 2022).
The consistently high pressures delivered from the Mississippian Unit in the Long Canyon drilling correlates with historically recorded high pressures across the project area and represents a highly positive outcome from this phase of drilling, which is of significant importance.
These results, combined with Drill Stem Tests (DST) data from historic wells within the project area, indicate that the Mississippian strata has a high permeability across a large area.
The combination of permeability, high pressure as well as porosity is expected to;
- Deliver continual strong flow at the extraction well location, over the life-of-mine of any future lithium producing operation; and
- Indicates that the pressure will remain constant over the life of a proposed future lithium project.
Executive Chairman and CEO, Bruce Richardson commented:
“Our drilling at Long Canyon No. 2 has established that the pressures in both the Paradox and the deeper Mississippian Unit (see Figure 1) are very high. This is expected to allow the brine to flow from an area with a radius of 10km and is why the Company is 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.”
The first brine samples from the Long Canyon Unit 2 well from the Mississippian Unit (see ASX Announcement 2 June 2022) and Clastic Zones 33, 29,19 and 17 have been sent to certified laboratories to assay for lithium, bromine and other minerals.
The Company’s resource expansion drilling program has now progressed to 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.
Figure 1: Plan showing an East- West cross section through the Paradox Lithium Project showing the Paradox and Mississippian Unit (Leadville & Madison Formations), highlighting the thickness of the Unit.
Commentary - High-Pressure and Permeability at Shallower Depth
The Mississippian Unit consist of layers of limestone and dolomite. These units have been altered by hydrothermal events which have enhanced the reservoir potential. These events have increased the porosity by:
- Leaching
- Developing microporosity
- Fracturing
These rock units form an excellent reservoir for supersaturated brines. When brine is removed at the extraction point, salt will flow into the voids (from where the brine has been removed), throughout the period of production. This will help maintain high reservoir pressure and assist in a high ultimate recovery of brine.
Anson’s research has confirmed that the pressure in the Mississippian Unit extends for more than 10km from the Long Canyon No. 2 well and will take many years to exhaust when extraction begins.
Drill stem test data on the historical wells show that consistent higher pressures (see Table 1) with high porosities and permeabilities of the Mississippian Unit will result in the recovery of brine from this Unit.
Table 1: Table showing the depths and pressures of the Mississippian Units in or near the Project area (*finished in the Mississippian Unit).
Anson is in a unique, and ideal, location for brine extraction at the intersection of Robert’s Rupture and the Cane Creek Anticline (raised area, at the Paradox Project). Robert’s Rupture provides vertical porosity, and the Cane Creek Anticline provides a shallower depth to the target extraction horizon.
These factors, high pressure and shallower depth are key attributes of the Paradox Lithium Project area and are not present anywhere else in the area. In combination, they provide strong indicators of low extraction costs and beneficial ESG outcomes.
Click here for the full ASX Release
This article includes content from Balkan Mining (ASX:BMM), 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.
ASN:AU
Anson Resources: Developing a Near-Term Clean Energy Project in Utah
Anson Resources (ASX:ASN) focuses on the resources necessary to meet the energy demands of the future. The company’s flagship project, the Paradox Lithium Project, has the potential to become a world-class lithium producer and is located near Tesla’s massively productive gigafactory in the United States. Additional projects target nickel, copper, and uranium.
The company's flagship Paradox Project is located in Utah, a mining-friendly and politically stable jurisdiction. The asset holds significant lithium brine deposits, and the company has identified an extraction method that has delivered an extraction rate of 91.5 percent. This technique calls for passing the lithium through the resin, which captures the resin, and can then be separated from the resin with water. From that state, it can be processed into lithium carbonate. The company is currently undertaking a major JORC resource expansion drilling program, the results of which will feed into a Detailed Feasibility Study being carried out by global engineering firm, Worley.
Company Highlights
- Anson Resources is focused on developing its flagship project, the Paradox Lithium Project, into a significant lithium producing operation.
- The company is currently undertaking a major JORC Resource expansion program at Paradox, which will form part of a Detailed Feasibility Study which is being undertaken by leading global engineering consultants, Worley.
- The Paradox Project contains multiple lithium brine targets, and the company has identified an extraction method that produces an impressive return rate of 91.5 percent. Also, the project’s Direct Lithium Extraction (DLE) method is expected to deliver significant ESG benefits
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Anson Resources’ other projects target nickel, copper, vanadium and uranium. The company aims to supply energy markets with the mineral resources necessary to power the future.
- The company has an experienced management team with a mix of technical, corporate and commercial skills driving the project towards its ambitious goals.
This Anson Resources company profile is part of a paid investor education campaign.*
Positive Findings from Newmont Ti Benchmarking Study
Highlights
- Titanium industry expert TZMI completes titanium benchmarking study on the Salazar Critical Minerals Project
- Study identifies Newmont as a standout from its peers in terms of Ti and TREO in-situ grade
- Benchmarking study is highly encouraging and supports validating flowsheet for production of titanium minerals from Salazar
Salazar Critical Minerals Project Ti Benchmarking Study
Following successful characterisation testwork of Ti mineralisation at the Newmont Deposit area1, West Cobar Metals engaged international titanium expert TZ Minerals International Pty Ltd (TZMI) to complete a benchmarking study of the Newmont resource.
TZMI is a global, independent consulting and publishing company which specialises in all aspects of the mineral sands, titanium dioxide and coatings industries2.
The Newmont resource3 and characterisation data was used by TZMI to benchmark the Salazar project deposit against several existing operations and potential new projects under development using publicly available information and TZMI estimates. The outcomes of the benchmarking are shown in Figure 1.
The benchmarking study shows that the Ti contained within the Newmont deposit has promising potential for economic extraction and that the Newmont resource is positioned favourably amongst peer resources in respect of both Ti and rare earth element content.
Figure 1 : Salazar Project (Newmont deposit) benchmarking
The relative positioning of the Newmont Inferred Ti and rare earth element resource is very positive for West Cobar, with relatively high insitu TiO2 grades and TREO grades compared to its peers. The Ti levels of the resource (on a whole rock basis) compare very favourably to both developing and operating projects.
TZMI concluded that “In terms of final ilmenite product quality, the composition of the magnetic fraction (comprising predominantly ilmenite) shows some promise with TiO₂ levels as high as 48.5%. This suggests the ilmenite is likely present as primary ilmenite … the CaO, MgO, V₂O₅, Cr₂O₃ in the magnetic fraction all seem relatively low which is positive and likely to be within the accepted levels for ilmenite used in sulfate pigment production.”
Click here for the full ASX Release
This article includes content from West Cobar Metals 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.
High Grade Copper Rock Chips to 18% on New Targets at Ti-Tree
- Two new prospects, Tiberius and Claudius, have returned high-grade copper and significant silver assays in rock chips from recent field work
- High grade assays up to 17.8% Cu and 282g/t Ag have been discovered on the Tiberius zone, currently 3m wide and extending for over 200m along strike.
- Claudius, 11km south of Tiberius, comprised of several parallel zones over a 100m by 300m area, returned grades up to 6.6% Cu and 86g/t Ag.
- The discovery of these prospects, 30km northwest from Copper Ridge which contain historic workings not marked on GSWA maps, highlights the significant prospectivity of the Gascoyne region.
- Further field work is being planned to determine the extent of these new discoveries.
Andrew Ford, GM Exploration
“These results highlight the potential of this underexplored area to host as yet undiscovered mineralisation. Less than 5% of the 3,600 sq km area of the Ti-Tree Project has had any previous exploration, and to discover unrecorded historic mining areas is very exciting. These results are a credit the Augustus geological team.”
Figure 1 Location of the Tiberius and Claudius prospects
Tiberius
Reconnaissance field work conducted on the Ti Tree Project’s northwestern tenement has discovered high grade copper and silver mineralisation (Figure 3) in two areas. Tiberius, the northern target comprises a quartz-sulphide vein system up to 3m wide and outcrops for over 200m (Figure 5).
A shallow shaft has been dug on the vein system (Figure 2). Another vein set was identified 600m along strike east-northeast of the main vein increasing the potential size of the target. The high grade veins contain both oxidized copper, high silver grades, lead sulphide and anomalous gold (Table 1).
Claudius
The Claudius prospect is located 10km to the southwest of Tiberius, comprised of quartz veined brecciated and silicified granite with mineralised veins mapped over a 100m x 300m area. The main area of outcropping mineralisation has been trenched by prospectors and rock chip sampling returned strong copper mineralisation in an iron rich siliceous vein. Silver was consistently elevated (up to 86g/t) with associated gold anomalism to 0.68g/t (Table 1, Figures 4 and 6).
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This article includes content from Augustus Minerals, 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.
From the Bronze Age to the Green Revolution: Mining's Timeless Role in Shaping Humanity's Future
During his presentation at the annual Prospectors & Developers Association of Canada convention, mining industry figure Mark Cutifani recounted the role the mining sector has had in humanity's past and will play in its burgeoning future.
“I'm focused on how we might catalyze new conversations around mining and its contribution to society,” he told listeners at the annual event, which took place in early March. “It is through our great pioneers and innovators that we continue to transform our work, and its value to society in so many different dimensions”
In simple terms, everything we use and make is derived from materials like metals and minerals, noted Cutifani.
Minerals used in electric cars compared to conventional cars.
Chart via the International Energy Agency.
In his view, while technical discussions about improving industry practices are essential, it's also crucial to help people understand the significance of the mining industry in the functioning of society as a whole.
For example, the average smartphone uses 13 metals and minerals, while electric vehicles require seven, including copper, lithium, nickel, manganese, cobalt, graphite, zinc and rare earths.
Mining's key role in the world's future
Cutifani went on to highlight how metals and minerals contribute to the health of our waterways and oceans.
“The provision of clean water is an absolute necessity to sustain life as we know it. We need minerals to purify, pump, use and recycle water. (We are) an industry that uses about 3 percent of the world's water to support everything else that happens on the planet. We are overwhelmingly a positive for global water balances,” he said.
In addition to water, the mining of phosphate and potash is imperative to global food supply, according to Cutifani, because without the valuable fertilizers they produce, “we could only feed half the planet.”
Even though there may be debates about eliminating certain products like fertilizers, he said it's essential to understand the broader implications and consequences of such decisions on global food security.
Beyond food security, metals and the alloys they produce have allowed us to curb urban sprawl through skyscrapers and high-rise residential towers that require steel and concrete, both of which are produced using mined and quarried materials. While we often hear of the vast amounts of metals needed for the energy transition, Cutifani noted that the energy transition debate tends to overlook other critical global issues like water, food security and shelter.
In his view, addressing global challenges will require the consideration of all fundamental human needs. It's essential to broaden the conversation and recognize the interconnectedness of various societal issues.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Exceptional Uranium Results at Lyndon - 6,612ppm U3O8
Highlights:
- Rock chip assay results up to 6,612ppm U3O8 at the Baltic Bore and Jailor Bore prospects
- 12 rock chips returned assays >1,000ppm U3O8
- 5 rock chips returned assays >1,000ppm V2O5
- Uranium anomalism spans strike lengths of 2.6km at Baltic Bore and 2km at Jailor Bore
- Lyndon Project Immediately adjoins Paladin Energy’s Carley Bore Uranium Project (15.6MLbs U3O8)
Figure 1: Carnotite (uranium) mineralisation within siliceous calcrete at the Jailor Bore prospect in sample XT0938.
David Lenigas, Executive Director of Odessa, said:
“Results of our preliminary field work have returned outstanding uranium and vanadium results, confirming the presence of calcrete-type mineralisation across multiple prospects at the Lyndon Project. The results of this campaign have exceeded expectations through the discovery of the highest-grade uranium and vanadium results at the Project to date. Odessa is now focussed on assessing the extent of high-grade uranium mineralisation through follow-up field campaigns that will involve ground-based radiometric mapping and further sampling to generate drill-ready targets for sub-surface testing during Q3, in conjunction with the palaeochannel roll-front uranium drilling at the Relief Well prospect. With multiple radiometric targets outside of the Jailor Bore and Baltic Bore prospects remaining untested, the Company is excited to undertake further field programs to expand on this round of assay results.”
Click here for the full ASX Release
This article includes content from Odessa Minerals, 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.