Western Strategy Resource Expansion Drilling To Commence At Paradox Lithium Project

Anson Resources Limited (ASX: ASN, ASNOC) (Anson or the Company) is pleased to announce that approval has been granted by the Utah Division of Oil, Gas and Mining (UDOGM) for the commencement of its western Resource expansion drilling program at the Paradox Lithium Project (the Project) in Utah, USA.

Highlights:

• The Application Permit to Drill (APD) to re-enter the Sunburst No.1 and Mineral Canyon Fed 1-3 wells has been approved by the Utah Division of Oil, Gas and Mining
  
• Approval allows Anson to commence the Western Strategy of its ongoing major resource expansion drilling program at the Paradox Lithium Project
• The Western Strategy is designed to deliver a further substantial JORC resource increase by converting existing Inferred Resources and the large Exploration Target into Indicated and Inferred Resources
• The Exploration Target at the Project’s Western Strategy has been upgraded to; 2.10Bt – 2.56Bt of brine grading 108 – 200ppm Li and 2,000 – 3,000ppm Br¹
• Western Strategy re-entry program will target lithium rich-brine aquifers within the thick Mississippian units and Pennsylvanian clastic horizons and is expected to commence in Q1 2023

UDOGM has approved Anson’s plan to conduct a re-entry and sampling program at the Sunburst No.1 and Mineral Canyon Fed 1-3 wells in the western region of the Project area (Figure 1). This is another significant step in the Company’s Resource expansion program. The Bureau of Land Management (BLM) has already approved the new drilling and sampling program of all horizons at Sunburst No.1 and Mineral Canyon Fed 1-3 listed in Table 1, see ASX Announcement 5 October 2022.

Under its ‘Western Strategy’, Anson plans to convert the existing Inferred Resource and Exploration Target to Indicated and Inferred Resources, see ASX Announcement of 10 September 2020 and 26 July 2021. Subject to favourable sampling results from the re-entry program, it is proposed that the Western Expansion program will deliver a further significant expansion of the existing Mineral Resource of; 1,037,900t of Lithium Carbonate Equivalent (LCE) and 5.27Mt of Bromine, see ASX announcement 2 November 2022.

This article includes content from Anson Resources, 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.