http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sun, 22 Jul 2018 01:31:02 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Anson Resources test work shows grades of lithium and boron rising higher ]]> http://www.proactiveinvestors.com.au/companies/news/200896/anson-resources-test-work-shows-grades-of-lithium-and-boron-rising-higher-200896.html Anson Resources Ltd (ASX:ASN) has received further encouraging results from the extended evaporation test work on a sample from its Paradox Lithium Project in Utah, US.

The sample was taken from the re-opened Cane Creek 32-1 well and the results continue to show both lithium and boron concentrate grades increasing.

Grades are higher than the last update earlier this month, with lithium increasing to 986 ppm on day 28 and boron increasing to 12,400 ppm.

READ: Anson Resources test work reveals higher grade concentrates, shares surge

The goal of the test work was to study the behaviour of the brine during evaporation and to observe whether the lithium concentration could be increased.

Lithium concentration needed to be increased to be able to recover it from the brine by a conventional lithium carbonate recovery technique by the addition of sodium carbonate.

The successful increase in concentration to 986 ppm is considered a suitable lithium brine concentration as a feed for the proposed processing plant.

READ: Anson Resources produces first lithium carbonate, shares rise

Anson’s managing director Bruce Richardson said: “The significant increase in lithium and other minerals in this work completed by Outotec using a simple evaporation process provides the company with a better understanding of the nature of the brines at the Paradox Lithium Project.

“The precipitation of salts during the evaporation is also a positive and indicates that these high concentrated salts can be easily extracted.

“Both of these significant results assist in the development of the design of production process which is currently underway.”

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Tue, 17 Jul 2018 11:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200896/anson-resources-test-work-shows-grades-of-lithium-and-boron-rising-higher-200896.html
<![CDATA[News - Anson Resources receives lease approval for pilot plant area ]]> http://www.proactiveinvestors.com.au/companies/news/200719/anson-resources-receives-lease-approval-for-pilot-plant-area-200719.html Anson Resources Ltd (ASX:ASN) has had its lease application approved for 15 acres of industrial land at its Paradox lithium project in Utah, US.

Positively, the lease’s original location has been moved to now join with the Cane Creek 32-1 well pad creating a combined total area of 25 acres.

This area plans to be used for extraction of the brine and an in-field pilot plant to produce battery-grade lithium and other minerals.

The advantage of the relocation of the industrial lease to abut the well pad area is that it will allow Anson to pipe brine from the Cane Creek well directly into the pilot plant.

READ: Anson Resources produces first lithium carbonate, shares rise

Anson’s managing director Bruce Richardson said: “SITLA’s agreement to relocate the industrial lease so that it abuts the Cane Creek 32-1 well pad allows the company to continue to fast-track the Paradox Lithium Project into production and is another significant step forward.

“The project has a number of unique advantages which the company will continue to seek to leverage to increase shareholder value.”

Infrastructure advantage

The Cane Creek 32-1 well has produced oil and gas and may still be capable of supplying Anson with an energy source for the operation of the pilot plant.

In addition, a power line owned by the local power corporation passes through the Cane Creek 32-1 oil and gas lease owned by Anson and power could also be utilised as an energy source.

Access to the project area is via sealed highways and graded all-weather roads and tracks.

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Fri, 13 Jul 2018 10:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200719/anson-resources-receives-lease-approval-for-pilot-plant-area-200719.html
<![CDATA[Media files - Anson Resources on track with development works at Paradox Lithium Project ]]> http://www.proactiveinvestors.com.au/companies/stocktube/9832/anson-resources-on-track-with-development-works-at-paradox-lithium-project-9832.html Thu, 12 Jul 2018 19:00:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/9832/anson-resources-on-track-with-development-works-at-paradox-lithium-project-9832.html <![CDATA[News - Anson Resources produces first lithium carbonate, shares rise ]]> http://www.proactiveinvestors.com.au/companies/news/200629/anson-resources-produces-first-lithium-carbonate-shares-rise-200629.html Anson Resources Ltd (ASX:ASN) has produced its first lithium carbonate (LCE) product from its Paradox Lithium Project in Utah during early precipitation test work.

The data collected will be valuable in fine-tuning the production process to produce a battery grade lithium carbonate product and ultimately the production of a final in-field pilot plant design.

The milestone follows details earlier today of a share placement which is set to raise $2.5 million.

READ: Anson Resources to raise $2.5 million in share placement

Anson’s managing director Bruce Richardson said: “The results from the test work using an alternative technology are extremely pleasing and demonstrate again that lithium can be recovered from the Cane Creek super saturated brines.

“The company continues to seek ways to fast-track the Paradox Lithium Project into production while endeavouring to maximize returns for its shareholders and as a result will continue to examine opportunities to use alternative technologies to achieve those objectives.”

Second stage test work focused on battery-grade lithium

The second stage of this test work will focus on using proprietary equipment in a larger scale test.

The test work using this production process to produce battery-grade lithium is expected to be completed in August, 2018.

Two lots of test work running in parallel

Significantly, this metallurgical test work is being run in parallel with separate test work being carried by Outotec.

The company notes the results of the Outotec test work have been pleasing and this test work is continuing.

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Thu, 12 Jul 2018 11:28:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200629/anson-resources-produces-first-lithium-carbonate-shares-rise-200629.html
<![CDATA[News - Anson Resources to raise $2.5 million in share placement ]]> http://www.proactiveinvestors.com.au/companies/news/200623/anson-resources-to-raise-25-million-in-share-placement-200623.html Anson Resources Ltd (ASX:ASN) aims to raise $2.5 million through a share placement to sophisticated and professional investors at an issue price of 11 cents per share.

Around 22.7 million shares will be issued, which will come with a 1:4 unlisted option exercisable at 20 cents expiring in two years.

Funding a maiden JORC resource

Funds raised from the placement will be used principally to progress Anson’s flagship Paradox Lithium Project in Utah.

This will include funding the re-entry of drill holes to determine a JORC resource and to produce sample product for testing by potential off-take partners/battery producers.

Funds will also be used to conduct metallurgical test work to determine the production process, and for general working capital purposes.

Stronger financial position supports future growth

Anson’s managing director Bruce Richardson said: “We are delighted with the support received for the placement and welcome a number of new institutional investors to the register.

“The quality of support for the placement reflects the enthusiasm for the company’s Paradox Lithium Project as it moves closer to its production goals.

“The placement, in addition to the ongoing funds received through the exercise of the company’s listed options, significantly enhances the company’s financial position for future growth.”

READ: Anson Resources test work reveals higher grade concentrates, shares surge

Anson recently received further encouraging results from evaporation test work on a sample taken from the re-opened Cane Creek 32-1 well.

Results how both lithium and boron concentrate grades increasing.

The objective of the test work was to assess the change in lithium concentration if evaporation was used to precipitate unwanted salts from the brine as a pre-processing step.

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Thu, 12 Jul 2018 08:36:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200623/anson-resources-to-raise-25-million-in-share-placement-200623.html
<![CDATA[News - Anson Resources granted trading halt pending capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/200422/anson-resources-granted-trading-halt-pending-capital-raising-200422.html Anson Resources Ltd (ASX:ASN) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.

The halt will remain in place until the earlier of the start of normal trading on Thursday, July 12, or when the announcement is released to the market.

Shares on a run

Shares have increased from 5 cents at the end of June to 14.5 cents at the close of trade on Monday.

The company is advancing the Paradox Lithium Project in the US state of Utah and recent news flow has supported increased investor interest.

READ: Anson Resources test work reveals higher grade concentrates, shares surge

Anson recently received further encouraging results from evaporation test work on a sample taken from the re-opened Cane Creek 32-1 well.

Results how both lithium and boron concentrate grades increasing.

The objective of the test work was to assess the change in lithium concentration if evaporation was used to precipitate unwanted salts from the brine as a pre-processing step.

Encouraging test results

Anson’s managing director Bruce Richardson said that the unexpected results of the evaporation test work using heat were very encouraging for the success of the project.

“The rapid precipitation of the salts from the brine and the resulting increase in lithium concentration in the brine should provide improved feed for the production plant resulting in improved productivity.”

READ: Anson Resources sees good flow rates upon re-opening sampled well

Anson also recently reported freely flowing brine from the Cane Creek 32-1 well.

The flow rate of 45,600 gallons per day shows there is a good amount of pressure within the well which will make for low future operating costs.

Leaving the well open will facilitate the collection of additional bulk samples of brine future test work.

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Tue, 10 Jul 2018 10:36:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200422/anson-resources-granted-trading-halt-pending-capital-raising-200422.html
<![CDATA[News - Anson Resources test work reveals higher grade concentrates, shares surge ]]> http://www.proactiveinvestors.com.au/companies/news/200079/anson-resources-test-work-reveals-higher-grade-concentrates-shares-surge-200079.html Anson Resources Ltd (ASX:ASN) has received further encouraging results after 24 days of evaporation test work from a sample taken from the Paradox Lithium Project in Utah, US.

The sample was taken from the re-opened Cane Creek 32-1 well and the results show both lithium and boron concentrate grades increasing.

Shares surged 83% to 11 cents.

READ: Anson Resources’ US lithium strategy sees Arrowhead initiate coverage

Anson’s managing director Bruce Richardson said: “The unexpected results of the evaporation test work using heat are very encouraging for the success of the Paradox Lithium Project.

“The rapid precipitation of the salts from the brine and the resulting increase in lithium concentration in the brine should provide improved feed for the production plant resulting in improved productivity.”

From 126ppm lithium feed to 900pm after 24 days

Richardson added: “To date the post evaporation feed is expected to be 900ppm. It should be noted that the test work is on-going and a final report from the test work, including the final feed grade of lithium and other minerals, is not expected until mid-August.

“The company will provide updates of the results when they become available.”

Assessing the use of evaporation as a pre-processing step

The objective of the test work was to assess the change in lithium concentration if evaporation was used to precipitate unwanted salts from the brine as a pre-processing step.

Results to date show that the pre-treatment evaporation for a short period would increase the feed grade of the lithium into the proposed extraction process.

The test work is not finalised and evaporation of the brine and the monitoring of the effect on the lithium concentration is continuing.

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Wed, 04 Jul 2018 11:11:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200079/anson-resources-test-work-reveals-higher-grade-concentrates-shares-surge-200079.html
<![CDATA[News - Anson Resources’ US lithium strategy sees Arrowhead initiate coverage ]]> http://www.proactiveinvestors.com.au/companies/news/200000/anson-resources-us-lithium-strategy-sees-arrowhead-initiate-coverage-200000.html Anson Resources Ltd’s (ASX:ASN) lithium strategy has seen New York-based Arrowhead Business and Investment Decisions LLC initiate coverage.

Arrowhead has placed a Fair Market Value of 5 cents to 9 cents on the ASX-listed explorer which has the Paradox project in the Lithium Four Corners area of US state of Utah as its flagship.

The range was established by Arrowhead utilising its blended valuation method.

This is based on quantitative key variable analysis, such as key price analysis for revenue and cost drivers or analysis and discounts on revenue estimates for projects.

READ: Anson Resources sees good flow rates upon re-opening sampled well

Anson’s shares are trading up 7% to 6.1 cents today.

The Arrowhead report states that Anson has focused its development efforts on the Paradox Brine Project, which has lithium concentrations in the region up to 1,700 ppm.

An exploration target of lithium-rich brine within Clastic Zone 31 has been estimated at around 30 to 40 million barrels.

 

The following is an extract from Arrowhead’s report:

Paradox Brine Project

The Paradox Brine Project consists of total 892 placer claims in one contiguous group encompassing 8,122 hectares of land owned by the Bureau of Land Management located in Grand Country, Utah.

The property is lies approximately 10 kilometres west of Moab and is within a 20-minute drive from the town centre.

Originally, Moab was a uranium mining centre which has an experienced workforce and well-established infrastructure to support exploration activities.

Apart from Anson, there are other companies such as Voltaic Minerals, MGX, American potash, Liberty One, US Cobalt, Power Metals and Standard Lithium.

Brines covers an area of around 33,000 square miles throughout the Paradox Basin. Also, there are some historical wells in this region.

Recent drilling and sampling

Anson has completed two drilling programs on its Paradox Lithium Projects claims.

The first campaign mainly consisted of a re-entry of a plugged and abandoned oil well whereas the second was a sampling program carried out on an already producing oil well which had been purchased by the company.

During the first drilling program (Gold Bar Unit 2) completed in January 2018, the assays showed that the brine samples were rich in additional commodities such as bromine, iodine and magnesium whereas lithium and boron were on the lower side.

These results confirmed the assay values obtained from the historical oil well samples throughout the area.

The second sampling program was carried out on the oil producing Cane Creek 32-1 well and completed in March 2018.

Samples from the five clastic zones resulted in increased lithium values compared to those obtained at Gold Bar.

Key advantages

Infrastructure facilities: The project is connected well through interstate highway and railway. Also, the availability of a gas line and a power line means that the project has closer proximity to key infrastructure.

Geological features: The paradox basin includes a thick series of marine evaporite deposits that define the Paradox Formation. Also, the lithium-rich brines have previously been sampled in the area.

Existing mining infrastructure: Existing tracks provide access for exploration and project development. Also, there is a power line passing through the project area.

Lithium industry

Lithium is gradually becoming an integral part of various commercial and industrial sectors, owing to its excellent electrochemical potential, catalytic characteristics and light weight.

Lithium is found in continental brines, hard rock minerals and clay globally.

Lithium carbonate is one of the key intermediate and most traded products in the lithium market as it can be easily converted into specific industrial salts and chemicals and can be processed into lithium metal.

Therefore, production numbers are usually measured in terms of lithium carbonate equivalent (LCE), despite there being several compounds which are formed from lithium.

According to Albemarle, one of the leading lithium producers, lithium carbonate is often the first chemical in the production chain, with other compounds such as lithium hydroxide being produced after subsequent steps.

For that reason, global lithium production numbers are generally broken down in terms of LCE.

The global lithium exploration budget witnessed significant growth in the last two years and is expected to continue this trend primarily owing to the rising demand of lithium-ion batteries.

In 2017, the mining industry's budget for lithium exploration more than doubled from US$ 72.9 million in 2016 and quadrupled from US$36.2 million in 2015 to US$156.5 million.

The slump and downturn in budget allocation between 2011 and 2015 were due to low lithium prices and an appreciating US Dollar.

The lithium supply market is relatively small and under-developed compared to most other industrial commodities.

Global lithium output in 2015 was 171 kilotons LCE, a small percentage of the global lithium reserves (102 million tonnes LCE).

Global lithium reserves are estimated to be 594 times the 2015 global output, which is relatively high when compared to other commodities.

Therefore, lithium remains an underexploited commodity with a huge potential for increase in supply.

According to Deutsche Bank, the lithium supply is expected to triple between 2015 and 2025 to reach 548 kilotons LCE. This will be primarily led by the increasing demand for lithium-ion batteries.

Demand drivers

The demand for lithium is increasing, given its growing importance in industrial sectors –EVs, consumer electronics and the energy sector.

Lithium has numerous applications, from lubricating grease and glass fabrication to glazes for ceramics, and batteries. The metal is expected to continue to play an integral role in battery-powered vehicles and other devices.

However, the lithium market is underdeveloped in comparison to other industrial commodities, with a few conglomerate giants controlling the market.

The primary driver of demand for lithium carbonate is lithium-ion batteries, the demand for which is set to increase exponentially in the medium term.

These batteries have several advantages such as the ability to be recharged many times over and slow loss of charge when not in use.

Hence, these batteries are an integral component of EVs and other electric and electronic storage products.

Moreover, the substantial decrease in lithium-ion costs from US$900/kWh in 2010 to US$225/kWh in 2017 has also made EVs and energy storage products more affordable and has opened new demand markets as well.

Arrowhead Business and Investment Decisions received fees in 2018 and expects to receive further fees in 2018 from Anson Resources for researching and drafting this report and for a series of other services to Anson Resources including distribution of this report and networking services.

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Tue, 03 Jul 2018 16:16:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200000/anson-resources-us-lithium-strategy-sees-arrowhead-initiate-coverage-200000.html
<![CDATA[News - Anson Resources sees good flow rates upon re-opening sampled well ]]> http://www.proactiveinvestors.com.au/companies/news/199738/anson-resources-sees-good-flow-rates-upon-re-opening-sampled-well-199738.html Anson Resources Ltd (ASX:ASN) is witnessing freely flowing brine from the recently sampled and re-opened Cane Creek 32-1 well within the Paradox lithium brine project in the US.

The flow rate of 45,600 gallons per day shows there is a good amount of pressure within the well which will make for low future operating costs.

Leaving the well open will facilitate the collection of additional bulk samples of brine future test work.

READ: Anson Resources surges 62% on positive Paradox lithium evaporation tests

Anson’s managing director Bruce Richardson said: “In order to fast track the Paradox Brine Project into production the properties of the brine when extracted need to be understood to ensure that all of the advantages that it offers can be taken into account when designing the production flow chart.

“Higher than normal pressure at this depth will assist in maintaining flow rates, a temperature of 830F will assists in the process if evaporation is required, as the initial test work done by Outotec indicates.

“For example, if less energy is needed to evaporate the brine to cause some salts to precipitate and further concentrate lithium in the brine solution, then it would be expected that there will be an positive impact on operating costs.”

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Thu, 28 Jun 2018 12:55:00 +1000 http://www.proactiveinvestors.com.au/companies/news/199738/anson-resources-sees-good-flow-rates-upon-re-opening-sampled-well-199738.html
<![CDATA[Media files - Anson Resources has busy year of exploration ahead, with key news in coming months ]]> http://www.proactiveinvestors.com.au/companies/stocktube/9708/anson-resources-has-busy-year-of-exploration-ahead-with-key-news-in-coming-months-9708.html Wed, 27 Jun 2018 08:47:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/9708/anson-resources-has-busy-year-of-exploration-ahead-with-key-news-in-coming-months-9708.html <![CDATA[News - Anson Resources surges 62% on positive Paradox lithium evaporation tests ]]> http://www.proactiveinvestors.com.au/companies/news/199544/anson-resources-surges-62-on-positive-paradox-lithium-evaporation-tests-199544.html Anson Resources Ltd (ASX:ASN) surged 62% after receiving positive results from evaporation test work on a bulk lithium brine sample from the Paradox Lithium Project in Utah, USA.

The initial bench-top tests on a bulk sample extracted from the Cane Creek 32-1 well increased the lithium concentration by 250% to 310 ppm.

Boron concentration also increased by a similar percentage while sodium and potassium concentrations reduced.

READ: Anson Resources re-opening Cane Creek well to conduct further tests

This work forms part of Anson’s plan to fast-track the Paradox project into production.

Shares are up 62% to 6 cents in late trading on strong volume of more than 30 million.

Anson’s managing director Bruce Richardson said: “The evaporation test work has provided a better understanding of the nature of the unique supersaturated multi-mineral bearing brines at the project.

"This will assist in the development of the design of production process which is underway.”

Information about brine feed

The test work will provide more information about the brine feed that can be expected from the Cane Creek well.

Bench-top evaporation test work was carried out using two separate techniques - evaporation in baths with heat lamps and vacuum evaporation.

As well as testing lithium losses during evaporation, the tests were also designed to assess the change in concentration of the minerals and also the mineral concentrations in the precipitated solids.

In-field tests to be conducted

Evaporation test work will now be carried out in bunded areas at Cane Creek 32-1 to determine if natural evaporation will provide a similar result.

The evaporation rates are known to be high in the arid desert conditions where the well is located.

This field work will also include flow rate testing over a longer period, which will provide an indication of the drawdown of the brine.

The results will provide information that can be used to determine production pipe size, location and number.

READ: Anson Resources applies for lithium drilling permit at Paradox

Richardson said: "The company remains committed to fast-tracking this project into production and will conduct natural evaporation test using ponds at the Cane Creek well in the immediate future.

“These will enable Anson to further understand these properties using the brine that was available at site from the Cane Creek well.”

Cane Creek well re-opened

The re-opening of the Cane Creek well has been completed with a work-over rig similar to that used during the sampling program.

Brines from the Clastic 29 horizon continued to flow to the surface as it did during the initial sampling program.

The well will be kept open to extract additional brine samples as required for future test work in the field and in the laboratory.

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Tue, 26 Jun 2018 15:33:00 +1000 http://www.proactiveinvestors.com.au/companies/news/199544/anson-resources-surges-62-on-positive-paradox-lithium-evaporation-tests-199544.html
<![CDATA[News - Anson Resources re-opening Cane Creek well to conduct further tests ]]> http://www.proactiveinvestors.com.au/companies/news/198742/anson-resources-re-opening-cane-creek-well-to-conduct-further-tests-198742.html Anson Resources Ltd (ASX:ASN) is re-opening the Cane Creek 32-1 well as part of its plan to fast-track the Paradox Lithium Project in Utah, US into production

The company will conduct a series of tests to obtain data to assist with the design of a process flow chart for the production of battery grade lithium product and other minerals. 

READ: Anson Resources applies for lithium drilling permit at Paradox

Importantly, the test work will assist in designing the production process by providing more information about the brine feed that can be expected from the Cane Creek well.

The bench-top test work had commenced in May 2018 and is progressing according to schedule.

The entire test work is expected to be completed in August 2018, with no delays having been experienced to date.

Aiming to produce battery-grade lithium

Anson managing director Bruce Richardson said: “The company is continuing to move forward in fast-tracking the Paradox Lithium project into production.

“The re-opening of the Cane Creek well is an important step in this process.

“The company is advancing the project through further exploration, test-work and designing a process that can produce battery grade lithium and other products from the boron, bromine, iodine and magnesium that have also been found to be of high concentration in the brine from Cane Creek.”

READ: Anson Resources spikes 70% on news of supersaturated brine flow at Paradox Lithium Project

Re-opening the well will also facilitate the collection of additional bulk samples of brine which could be continuously fed through the bench-top test work, resulting in additional lithium carbonate product becoming available for testing.

This product can then be offered to offtake partners and/or battery manufacturers for analysis as the next step towards commercial offtake agreements.

A number of these partners indicated their willingness to trial Anson samples as soon as they are available during a recent visit to China by the company’s managing director.

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Wed, 13 Jun 2018 11:17:00 +1000 http://www.proactiveinvestors.com.au/companies/news/198742/anson-resources-re-opening-cane-creek-well-to-conduct-further-tests-198742.html
<![CDATA[News - Anson Resources applies for lithium drilling permit at Paradox ]]> http://www.proactiveinvestors.com.au/companies/news/197964/anson-resources-applies-for-lithium-drilling-permit-at-paradox-197964.html Anson Resources Ltd (ASX:ASN) has submitted a notice of intent (NOI) for approval to drill a new well at its Paradox Lithium Project in the US state of Utah.

The project hosts a number of historical oil wells that Anson has been re-entering and sampling.

The drilling of a new well, such as in this case, is required to determine a JORC resource estimate.

Re-entering historical oil wells is efficient and cost-effective

Numerous producing and historical oil wells are available for re-entry and sampling.

Re-entry and sampling of open wells reduces the time and costs involved in proving up a resource.

The re-entry and sampling of open wells is part of Anson’s strategy to fast-track the project into production.

The drilling of a new well

A new well needs to be drilled to obtain sufficient geological data to determine a JORC resource.

The drill pad for the proposed new A1 Long Canyon Well (A1 LC) is 1,300 metres east of the Long Canyon No 1 well which contains 500 ppm lithium

The proposed new A1 LC hole will be drilled to a maximum of 7,050 feet.

As previously outlined, Anson plans to conduct an exploration program which includes pre-entry, sampling and the new drilling throughout 2018.

Further updates of the exploration program will be provided as an assessment of all of the opportunities available to the company is completed.

READ: Anson Resources upgrades lithium exploration target at Paradox project

Anson’s managing director Bruce Richardson said: “As part of the company’s fast tracking to production strategy the staking of additional areas has not only provided Anson Resources with a much greater exploration target but also many new options for the re-entering, sampling of existing wells and new drilling.

“The A1 LC well is strategically located to enable not only an assessment of grades of lithium, boron, bromide, iodine and magnesium but also assessment as a possible production well.”

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Thu, 31 May 2018 09:35:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197964/anson-resources-applies-for-lithium-drilling-permit-at-paradox-197964.html
<![CDATA[News - Anson Resources upgrades lithium exploration target at Paradox project ]]> http://www.proactiveinvestors.com.au/companies/news/197052/anson-resources-upgrades-lithium-exploration-target-at-paradox-project-197052.html Anson Resources Ltd (ASX:ASN) has upgraded the exploration target of its Paradox Lithium Project in Utah, US to a range of 65 to 130 million tonnes of brine, at a grade of 140 to 500 ppm lithium.

The increase in the exploration target is due to staking of additional claims in the area, from 291 claims to 983 claims.

READ: Anson Resources stakes new claims near Paradox Lithium Project

In addition, further research and completion of exploration programs have revealed that artesian flow occurred through the entire interval of the main brine zone (Clastic Zone 31).

The Clastic Zone 31 thickness is now interpreted to range from 3.04 metres to 6.1 metres.

The fractured clastic zones form an excellent reservoir for brines derived from underlying evaporite units.

Higher potential to recover brine

The fracturing is caused by salt flowage, and it is possible that, when brine is removed from these zones, the salt will flow into voids from which brine has been removed.

This would help maintain high reservoir pressure and assist in a high ultimate recovery of brine.

Cores obtained from wells in the area have exhibited fractures filled with salt when brine has not been present.

READ: Anson Resources experiences improved exploration success close to Long Canyon area

Anson managing director Bruce Richardson said: The Company has worked quickly to expand the project area from 89 claims to 983 claims, an 11 fold increase, in just over twelve months.

“The exploration programs at Gold Bar and Cane Creek have identified a greater thickness of brine-bearing Clastic Zone 31.

“These two factors have increased the exploration target volume by 10 to 20 fold and improved the economics of the project and provided the company with the confidence to proceed to Stage 3 of the project, the bench top test work to produce LCE product for testing by off-take partners, potential strategic investors as well as cathode and battery producers.”

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Wed, 16 May 2018 11:16:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197052/anson-resources-upgrades-lithium-exploration-target-at-paradox-project-197052.html
<![CDATA[News - Anson Resources stakes new claims near Paradox Lithium Project ]]> http://www.proactiveinvestors.com.au/companies/news/196867/anson-resources-stakes-new-claims-near-paradox-lithium-project-196867.html Anson Resources Ltd (ASX:ASN) has staked an additional 177 placer claims at its Paradox Lithium Project in the US stage of Utah.

The claims contain six oil wells which are three kilometres north of wells with historically recorded lithium values and Anson’s recently drilled Cane Creek 32-1 well.

READ: Anson Resources experiences improved exploration success close to Long Canyon area

Anson’s managing director Bruce Richardson said: “This new area staked by Anson provides the opportunity to enter or re-enter six additional oil wells to sample for lithium at relatively low cost.

“In addition, the company will seek to work with the oil company that has been granted approval to drill new wells to obtain additional geological data and conduct lithium sampling as their program is conducted.

“It may also be possible to collect core samples through targeted Clastic horizons as these wells are drilled.”

The plan above shows the location of the new claims in relation to the project’s claims and their proximity to wells with historical lithium values.

The six historical oil wells on the new claims are possible re-entry targets for exploration.

In addition to lithium, high concentrations of bromine (Br), iodine (I) and magnesium (Mg) were assayed at a number of oil wells in the Long Canyon area.

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Mon, 14 May 2018 11:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196867/anson-resources-stakes-new-claims-near-paradox-lithium-project-196867.html
<![CDATA[News - Anson Resources experiences improved exploration success close to Long Canyon area ]]> http://www.proactiveinvestors.com.au/companies/news/196458/anson-resources-experiences-improved-exploration-success-close-to-long-canyon-area-196458.html Anson Resources Ltd’s (ASX:ASN) focus has been on the highly prospective Paradox Lithium Project in the US state of Utah.

The company had significant drilling success in the Cane Creek region of the project territory and in mid-April it staked three additional blocks of placer claims.

Management was particularly upbeat about the artesian flow of supersaturated brine at Cane Creek.

READ: Anson Resources' Cane Creek well demonstrates promising high-pressure and temperatures during sampling

Managing director Bruce Richardson said: “The artesian flow sustained from the Clastic Zone supports the model that the brines are under pressure in the project area and when intersected will flow to the surface.

The flow to surface of the supersaturated brine from a depth similar to that identified at Long Canyon is an indicator that the two areas may be linked.”

Drilling at Cane Creek has confirmed management’s expectation that lithium values increase towards the Long Canyon area where its wholly-owned subsidiary A1 Lithium has recently staked claims.

New claims could increase economic viability

Cloud, Cane and LC South will be part of its Paradox project with the claims being close to oil wells with historically recorded lithium values and the Roberts Rupture structure.

Richardson said: “The staking of this additional prospective ground is part of Anson’s strategic plan to fast-track the lithium project, particularly in the Long Canyon area which contains several recorded lithium values.

“It is expected to provide additional supersaturated brines for future processing and further improve the economic viability of the Paradox Brine Project.”

The Roberts Rupture structure, which is thought to provide natural fracturing of the host rock allowing the flow of fluids, is 140 metres to the east of the Cloud claims.

The new claims all have historical wells located on them which could be used for sampling programs or at a later date, production wells.

Lithium concentration related to Roberts Rupture

A maximum value of 142 parts per million (ppm) lithium from Clastic Zone 29, the free-flowing horizon, confirms the company’s belief that the lithium concentration is related to the Roberts Rupture structure and the cross-cutting structures which continue to increase in frequency to the south.

The next stage of the project development, bench top test work, can now commence with the bulk sample taken from the lithium-rich free-flowing horizon.

However, there were some important takeaways in terms of flow rates, temperatures and associated mineralisation.

Other minerals could improve economic viability

The concentrations of bromine, iodine, magnesium and additional salts are comparable to the brines sampled from the historic oil wells in the renowned Long Canyon region.

The presence of these by-products could be of significance in terms of providing a financial contribution to the Paradox Brine Project.

Both bromine and iodine are expected to be easily extracted in the proposed processing plant selected for the production of lithium.

Magnesium is precipitated at the start of the extraction process, and they all have commercial value enabling recovery and sale to an existing market.

The brine sampling program will continue for most of 2018 as it is part of the exploration program required to prove a JORC-compliant resource.

While requiring formal assessment, additional revenue generated by these possible by-products may have an impact on the project's financial feasibility.

Key upcoming milestones

The metallurgical test work and plant development program will involve a number of stages.

Assay samples from Cane Creek for lithium and other minerals will be examined at a laboratory in the US.

The second stage is the processing of a 500-litre bulk sample in a bench-top plant with a goal of producing lithium carbonate.

The results of the bench-top pilot plant will be used for the design of an in-field pilot plant, including the extraction of lithium and other minerals from the Paradox Basin brines.

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Mon, 07 May 2018 10:21:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196458/anson-resources-experiences-improved-exploration-success-close-to-long-canyon-area-196458.html
<![CDATA[News - Anson Resources receives promising lithium assays and stakes three new claims ]]> http://www.proactiveinvestors.com.au/companies/news/195312/anson-resources-receives-promising-lithium-assays-and-stakes-three-new-claims-195312.html Anson Resources Ltd (ASX:ASN) has received assay values for all six sampled clastic zones from its Cane Creek well, part of the Paradox Lithium Project in Utah.

These were significantly higher than those obtained from the Gold Bar sampling program, to the north of Cane Creek.

Lithium values increase towards Long Canyon area

Managing director Bruce Richardson said: “The results of the Cane Creek sampling program are encouraging and confirm the company’s belief that lithium values increase towards the Long Canyon area where A1 Lithium has recently staked claims.

“The next stage of the project development, the bench-top test work, can now commence with a bulk sample taken from the lithium-rich free-flowing horizon.”

A maximum value of 142ppm lithium was returned from clastic zone 29.

As the free-flowing horizon, this confirms the company’s belief that the lithium concentration is related to the Roberts Rupture structure and the cross-cutting structures which continue to increase in frequency to the south.

Other minerals could improve economic viability

The concentrations of bromine, iodine, magnesium and additional salts are comparable to the brines sampled from the historic oil wells in the renowned Long Canyon region.

The presence of these by-products could be of significance in terms of providing a financial contribution to the Paradox project.

Extraction process relatively easy

Both bromine and iodine are expected to be easily extracted in the proposed processing plant selected for the production of lithium.

Magnesium is precipitated at the start of the extraction process, and they all have commercial value enabling them to be recovered and sold to an existing market.

While requiring formal assessment, additional revenue generated by these potential by-products could have a positive impact on the financial feasibility of the project.

Brine sampling to continue until December

The brine sampling program continues for most of 2018 as it is part of the exploration program required to prove a JORC-compliant resource.

Once this is completed, the company will be in a position to complete the feasibility study required to obtain funding for a large-scale production plant.

Anson stakes new claims near Roberts Rupture structure

Anson also announced that A1 Lithium, a wholly-owned Utah based subsidiary, has staked an additional three blocks of placer claims.

Cloud, Cane and LC South will be part of Anson's Paradox project with the claims being close to oil wells with historically recorded lithium values and the Roberts Rupture structure.

Richardson said: “The staking of this additional prospective ground is part of Anson’s strategic plan to fast-track the lithium project, particularly in the Long Canyon area which contains several recorded lithium values.

“It is expected to provide additional supersaturated brines for future processing and further improve the economic viability of the Paradox project.”

The Roberts Rupture structure, which is thought to provide natural fracturing of the host rock allowing the flow of fluids, is just 140 metres east of the Cloud claims.

The new claims all have historical wells located on them which could be used for sampling programs or at a later date, production wells.

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Thu, 19 Apr 2018 11:19:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195312/anson-resources-receives-promising-lithium-assays-and-stakes-three-new-claims-195312.html
<![CDATA[News - Anson Resources' Cane Creek well demonstrates promising high-pressure and temperatures during sampling ]]> http://www.proactiveinvestors.com.au/companies/news/194571/anson-resources-cane-creek-well-demonstrates-promising-high-pressure-and-temperatures-during-sampling-194571.html Anson Resources Ltd (ASX:ASN) has completed a successful sampling program at the Cane Creek 32-1-25-20 well.

This is the second stage of Anson’s program at the Paradox Lithium Project in the US state of Utah.

Managing director Bruce Richardson said: “It is very pleasing to see that Anson has been able to successfully achieve a sampling program of this well only a few weeks after it was acquired.

“Even more pleasing was to see Clastic Zone 29 artesian flow with characteristics similar to those of Long Canyon with high pressure and temperature.”

Pressure at zone 29 is a good sign

Sampling was carried out on Clastic Zones 17, 19, 29, 31 and 33 and bulk samples collected.

The artesian flow from Clastic Zone 29 is a significant development and confirms that some clastic zones are under extreme pressure.

The flow rate of the brine from that zone was tested and found to be 25 gallons per minute (gpm).

Flow rates continued to increase with time over a 6-hour period when the horizon was plugged.

This is significant because it would reduce operating costs if it continued to flow during production.

Sample from zone 29 may be suitable for processing

Bulk samples were collected from all zones with 2,000 litres collected from Clastic Zone 29.

Depending upon the assay result this sample is suitable to be processed in a bench-top plant to validate earlier test work on a synthetic brine.

This showed that lithium carbonate and other products were expected to be able to be produced from the supersaturated brine.

The results of the bench-top processing will be used in the design of an infield pilot plant, to further validate that lithium and other minerals can be extracted from the brine.

Comparisons are being drawn with the nearby prolific Long Canyon 1 well and interestingly temperatures from zone 29 appeared to be broadly in line with those at Long Canyon.

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Tue, 10 Apr 2018 11:28:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194571/anson-resources-cane-creek-well-demonstrates-promising-high-pressure-and-temperatures-during-sampling-194571.html
<![CDATA[News - Anson Resources spikes 70% on news of supersaturated brine flow at Paradox Lithium Project ]]> http://www.proactiveinvestors.com.au/companies/news/194385/anson-resources-spikes-70-on-news-of-supersaturated-brine-flow-at-paradox-lithium-project-194385.html Anson Resources Ltd (ASX:ASN) has obtained artesian flow of a supersaturated brine at 7,170 feet during sampling at its Cane Creek well, which is part of the Paradox Lithium Project in Utah.

This development prompted a share price surge in morning trade which saw the company hit a high of 8.5 cents, representing an increase of 70% on the previous day’s close.

Late in the session, almost 70 million shares have been traded.

Anson is sampling for lithium, bromide, iodine, magnesium and other minerals at the Cane Creek 32-1 well, the second stage of its exploration program at Paradox.

The flow to surface is a significant development, particularly given that the pressure required to bring the supersaturated brine to surface is similar to an adjacent high-grade well.

Comparisons with Long Canyon I well

On the score of pressure requirements, management drew comparisons with Long Canyon I well which has a historic grade of 500ppm lithium.

The free flow of the brine from 7,170 feet below the surface, weighing 10.55 pounds per gallon (ppg), continued for six hours until the horizon was plugged off to enable sampling.

Managing director Bruce Richardson said: “The artesian flow sustained from the clastic zone supports the model that the brines are under pressure in the project area and when intersected will flow to the surface.

“The flow to surface of the supersaturated brine from a depth similar to that identified at Long Canyon is an indicator that the two areas may be linked.”

Possible ramifications for economic viability

The flow of the supersaturated brine to surface with this weight from 7170 feet indicates that there is significant pressure within the clastic zone.

Pressure metrics could be relevant in terms of assessing economic viability, as if they were maintained during production, it could provide a significant saving in operating costs.

READ: Anson Resources stakes two new lithium claims at Paradox project in Utah

Only this week, Anson staked two new lithium claims at the Paradox project that are close to lithium-rich wells.

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Fri, 06 Apr 2018 11:26:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194385/anson-resources-spikes-70-on-news-of-supersaturated-brine-flow-at-paradox-lithium-project-194385.html
<![CDATA[News - Anson Resources enters ASX trading halt ahead of update ]]> http://www.proactiveinvestors.com.au/companies/news/194201/anson-resources-enters-asx-trading-halt-ahead-of-update-194201.html Anson Resources Ltd (ASX:ASN) has been granted a trading halt today by the ASX, pending the release of an update by the company.

The halt is expected to remain in place until the earlier of the release of the information or the commencement of trading on Friday, 6 April 2018.

READ: Anson Resources stakes two new lithium claims at Paradox project in Utah

Earlier this week, the company staked two additional placer claims at its Paradox Lithium Project in the US that are close to lithium-rich wells.

One of the claims is a suitable site for a future drill hole proposed as part of the exploration program Anson intends to carry out this year.

The proposed drill pad has a graded track access in place and could be levelled quickly for drilling to begin once surveys have been completed and government approvals have been granted.

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Wed, 04 Apr 2018 12:02:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194201/anson-resources-enters-asx-trading-halt-ahead-of-update-194201.html
<![CDATA[News - Anson Resources stakes two new lithium claims at Paradox project in Utah ]]> http://www.proactiveinvestors.com.au/companies/news/194098/anson-resources-stakes-two-new-lithium-claims-at-paradox-project-in-utah-194098.html Anson Resources Ltd (ASX:ASN) has staked two additional placer claims at its Paradox Lithium Project in the US that are close to lithium-rich wells.

The Cloud-001 and Cloud-002 claims have been staked by wholly-owned Utah-based subsidiary A1 Lithium and surround the Fidelity claim owned by another party.

They are just 40 metres from the Long Canyon No 1 oil well and 90 metres from the White Cloud No 2 well, both on the Fidelity claim.

The former has an historical recorded lithium value of 500ppm lithium and the latter has an historical value of 1700ppm lithium.

READ: Anson Resources to begin sampling brines from new well in Lithium Four Corners area

The Paradox project is within the Lithium Four Corners area of the state of Utah.

Managing director Bruce Richardson said: “The staking of this highly prospective ground is part of Anson’s strategic plan to fast-track the lithium project.

“This confirms Anson’s intent to continue its aggressive plan to fast-track towards LCE [lithium carbonate] product.”

Shares increase 10%

Anson increased 10% to 5.4 cents in early trade.

The Roberts Rupture structure, which is thought to provide natural fracturing of the host rock allowing the flow of fluids, is 140 metres east of the Cloud claims.

In addition to lithium, high concentrations of up to 6,100ppm bromine, as well as iodine and magnesium, were previously assayed at the Long Canyon No 1 well.

The Cloud-001 and Cloud-002 claims surround the Fidelity claim.

These other minerals can be extracted during the processing of the lithium.

Numerous brine analyses for other wells in the area are also listed in the UGS Special Publication 13 printed in 1965.

READ: Anson Resources suggests lithium trap could be responsible for varied assay results

“Cloud-001 provides an excellent option for the location of exploration drilling and a possible production well,” Richardson said.

“It is right next to the claim where supersaturated brine has been recorded to contain high grades of lithium and other minerals.”

Suitable drill site

The south-western corner of the Cloud-001 claim is a suitable site for a future drill hole proposed as part of the exploration program Anson intends to carry out this year.

The proposed drill pad has a graded track access in place and could be levelled quickly for drilling to begin once surveys have been completed and government approvals have been granted.

Access from well-maintained road

Access to the new claims is from a well-maintained road passing through the southwest corner of the claim.

This road is used to transport oil and water from the Long Canyon well for offsite processing.

It does not require any upgrading to enable an exploration program to begin once government approvals have been granted.

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Tue, 03 Apr 2018 11:26:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194098/anson-resources-stakes-two-new-lithium-claims-at-paradox-project-in-utah-194098.html
<![CDATA[News - Anson Resources suggests lithium trap could be responsible for varied assay results ]]> http://www.proactiveinvestors.com.au/companies/news/193423/anson-resources-suggests-lithium-trap-could-be-responsible-for-varied-assay-results-193423.html Anson Resources Limited’s (ASX:ASN) assay results from its Paradox Lithium Project in Utah fell short of expectations, but there could be a geological explanation.

Anson intercepted supersaturated brines in the three clastic horizons sampled during the re-entry drilling of the Gold Bar Unit 2 well.

There were high concentrations of magnesium, bromine and iodine, and it is possible that the low lithium levels indicate that samples are not from mineralisation that flows from the area around Long Canyon.

From a geological perspective, management said that this could be due to ‘cross-cutting’ which effectively forms lithium traps.

Second stage exploration to provide clearer picture

Anson has commenced the second stage of its exploration program at the Cane Creek 32-1 well that it purchased in February 2018.

READ: Anson Resources to start brine sampling for lithium at newly acquired well

This well is 5 kilometres south of Gold Bar Unit 2 and closer to the cross-cutting structures and Robert’s Rupture.

Once brine samples have been collected at Cane Creek 32-1 they will be sent for assaying and it is expected that the results will be available in April 2018.

Cane Creek could be the key

Should the concentration of lithium in the Cane Creek 32-1 brine prove to be of a higher value, a bulk sample will be assessed for the planned bench-top test work.

If this is successful, management suggested that the company remained on track to produce lithium carbonate in the second quarter of 2018.

Consequently, this morning’s sharp share price slump could suggest the selling hasn’t taken potentially positive upcoming events into account.

Anson has been heavily sold today, with more than 73 million shares sold by early afternoon.

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Tue, 20 Mar 2018 10:42:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193423/anson-resources-suggests-lithium-trap-could-be-responsible-for-varied-assay-results-193423.html
<![CDATA[News - Anson Resources awaiting samples as it works towards establishing JORC resource ]]> http://www.proactiveinvestors.com.au/companies/news/193189/anson-resources-awaiting-samples-as-it-works-towards-establishing-jorc-resource-193189.html Anson Resources Ltd (ASX:ASN) is awaiting laboratory results from brine samples targeting lithium taken from the Gold Bar Unit 2 well at its Paradox Lithium Project in Utah.

While there were some initial delays experienced in testing assays, the process is expected to be completed within 10 days.

Sampling to test continuity of mineralisation

Anson’s sampling program at Gold Bar Unit 2 aims to confirm that the supersaturated brines in the Long Canyon area were continuous to the north.

READ: Anson Resources confirms supersaturated brines at U.S. lithium project

The company is also looking to confirm that they are contained within the other clastic horizons.

In addition, the sampling program aimed to identify if the five minerals, including lithium, boron, iodine and bromine continued from the southern section of the project area.

Brine sampling is to establish JORC resource

This brine sampling program is part of the exploration program that is required to prove a JORC compliant resource.

This exploration program will continue until December 2018.

The JORC resource is required for the feasibility study that needs to be completed to obtain funding for a large-scale production plant. 

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Thu, 15 Mar 2018 08:42:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193189/anson-resources-awaiting-samples-as-it-works-towards-establishing-jorc-resource-193189.html
<![CDATA[News - Anson Resources to begin sampling brines from new well in Lithium Four Corners area ]]> http://www.proactiveinvestors.com.au/companies/news/192957/anson-resources-to-begin-sampling-brines-from-new-well-in-lithium-four-corners-area-192957.html Anson Resources Ltd (ASX:ASN) will start sampling brine for lithium content this week at Cane Creek 32-1 well on its Paradox project in the Lithium Four Corners area of the US.

A drilling contractor has been appointed and the work-over rig is expected to arrive on site by Wednesday.

The sampling program of five clastic zones is expected to be completed by the end of March 2018.

Samples will be assayed for lithium, magnesium, bromide, iodine and boron.

READ: Anson Resources confirms supersaturated brines at US lithium project

Bruce Richardson, managing director, said: “Anson has worked quickly to acquire and obtain approval from the Government of Utah to conduct a sampling program at Cane Creek 32-1 well.

“The planned short sampling period will enable the company to include the sample from Cane Creek in the bench-top test work program.

“This can be used to produce Anson’s first lithium carbonate in quarter two of 2018.”

READ: Anson Resources to start brine sampling for lithium at newly acquired well

The program only requires a work over of the Cane Creek well as the hole is still open and not plugged and abandoned.

Cane Creek 32-1 Well was drilled by Fidelity Oil and Gas in 2014 and has been an intermittent producer of oil and gas.

Oil extraction equipment removed

Anson has removed the oil extraction equipment from the recently acquired well, which is 5 kilometres from the company’s Gold Bar Unit 2 well where sampling has been completed.

The Paradox project is in a prolific lithium region of Utah.

Clastic zones 17, 19, 29, 31 and 33 will be sampled with zone 31 being the primary target owing to high grades of lithium being recorded in historical assay results.

Samples will be collected and sent for assay at laboratories in Nevada and this is expected to be completed by mid-April.

Bulk sample will also be collected

A bulk sample will also be collected in IBC containers from all clastic zones and stored on site for sampling.

These bulk samples can also be included in the company’s bench-top plant work program.

Brine sampling is part of the exploration program required to prove a JORC-compliant resource with the program to continue until December 2018.

The JORC resource is required for a feasibility study that Anson needs to complete to obtain funding for a large-scale production plant.

Further exploration will need to be completed and Anson has started planning these sampling programs.

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Mon, 12 Mar 2018 11:42:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192957/anson-resources-to-begin-sampling-brines-from-new-well-in-lithium-four-corners-area-192957.html
<![CDATA[News - Anson Resources confirms supersaturated brines at U.S. lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/192389/anson-resources-confirms-supersaturated-brines-at-us-lithium-project-192389.html Anson Resources Ltd (ASX:ASN) has confirmed the presence of supersaturated brines at the Paradox Lithium Project in the Lithium Four Corners area of the U.S. state of Utah.

The brines were intersected in the three clastic horizons sampled during re-entry drilling of the Gold Bar Unit 2 well.

This work was part of the first stage of Anson’s exploration at Paradox and the company is awaiting assay results for lithium and additional elements.

READ: Anson Resources gets more funding to develop lithium brine project

Bruce Richardson, managing director, said: “While assay results from sampling remain pending, confirmation that brines collected have similar characteristics to those recorded in historic assays is encouraging.”

Anson was up almost 11% to $0.205 in early trade.

The analysis of samples from Gold Bar Unit 2 well has been more complicated than expected and as a consequence, the results have been delayed.

Brines in three zones are supersaturated

Brines from the sampled horizons of clastic zones 17, 29 and 31 were all supersaturated while zone 33 was not sampled as brine did not flow.

In zone 17 the horizon weight was 11.10 pounds per gallon, in zone 29 it was 10.35 and in zone 31 it was 10.20.

This correlates with the historical data that brines within the clastic zones were supersaturated and demonstrates that the concentration of minerals in the brine is high.

Historically, the lithium-rich brines contained within zones previously sampled in the region were supersaturated, containing between 30% and 40% total dissolved solids.

Thick sample horizons

The sample horizon in zone 17 is 19 feet thick at a depth of 6,205 feet and in zone 29 it is 18 feet thick at 7,020 feet.

In zone 31, which is Anson’s primary target zone, the horizon is 22 feet thick at a depth of 7,080 feet.

A bulk sample was collected from all the clastic zones with brines from each horizon collected in IBC containers.

Processing in bench-top plant

The samples will be processed in a bench-top plant to validate earlier test work on a synthetic brine.

This showed that lithium carbonate and other products were expected to be able to be produced from the brine.

Production of first lithium carbonate from the bench-top plant is expected in April 2018.

Results from the bench-top processing will be used in the design of an in-field pilot plant, to further validate that lithium and other minerals can be extracted from the brine.

READ: Anson Resources to start brine sampling for lithium at newly acquired well

Anson is expected to start brine sampling for lithium early this month from the newly acquired Cane Creek 32-1 oil well at the Paradox project.

This well will provide an opportunity to collect additional samples and geological data to provide an understanding of the structure of the Paradox Basin.

It is also expected to help determine what controls if any, the structures have on the concentrations of lithium.

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Thu, 01 Mar 2018 12:04:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192389/anson-resources-confirms-supersaturated-brines-at-us-lithium-project-192389.html
<![CDATA[News - Anson Resources to start brine sampling for lithium at newly acquired well ]]> http://www.proactiveinvestors.com.au/companies/news/192309/anson-resources-to-start-brine-sampling-for-lithium-at-newly-acquired-well-192309.html Anson Resources Ltd (ASX:ASN) will start brine sampling for lithium early in March from the newly acquired Cane Creek 32-1 oil well at its Paradox Lithium Project in the U.S.

This well will provide Anson with an opportunity to collect additional samples and geological data to provide an understanding of the structure of the Paradox basin.

It is also expected to help determine what controls if any, the structures have on the concentrations of lithium.

READ: Anson Resources acquires power source as it moves to first lithium carbonate in April

Bruce Richardson, managing director, said: “The next stage of Anson’s exploration program, the sampling of brines at Cane Creek 32-1, is a key step forward in determining the geology of the Paradox Basin project.

“It will provide us with more information of how best to produce lithium from the super-saturated brines.”

In Lithium Four Corners area

The Paradox project is in the Lithium Four Corners area of the state of Utah and in proximity to the town of Moab.

The Paradox Basin is in Utah's Lithium Four Corners area.

Lithium values of up to 1,700ppm have historically been recorded in close proximity to Anson’s claim area.

READ: Anson Resources raises cash from options exercise

Anson has completed the acquisition of the Cane Creek 32-1 well and associated oil and gas lease, which is 5 kilometres from the company’s Gold Bar Unit #2 well.

The company completed extracting super saturated brines from Gold Bar Unit #2 well in late January 2018 and is awaiting assay results.

After removing the oil extraction equipment from Cane Creek 32-1, Anson will begin sampling the known clastic levels that contain brine.

This will include its primary target Clastic 31 where high grades of lithium have been recorded in historical assay results.

Suitable rigs in the area

Anson expects to begin this work in early March 2018 as there are suitable rigs available in the area.

An oil and gas well has been in production until recently and remains ‘open’ with no plugs installed to abandon the well.

Cane Creek 32-1 Well was drilled by Fidelity Oil and Gas in 2014 and has been an intermittent producer of oil and gas.

The procedure to enter the well is straight-forward and Anson intends plugging off the Cane Creek zone to evaluate contents of upper clastic zones for the presence of lithium-rich brines.

Anson’s plans to enter the open well, perforate the well casing at the depths where brine has been recorded, extract samples and send them to the laboratory for assaying.

Possible production base

The strategically located well with surrounding supporting infrastructure will be assessed as a possible production base once sampling results are known.

This information, along with geological interpretation from Gold Bar Unit #2 sampling, will be used in conjunction with future sampling information to determine the location of production facilities.

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Wed, 28 Feb 2018 12:18:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192309/anson-resources-to-start-brine-sampling-for-lithium-at-newly-acquired-well-192309.html
<![CDATA[News - Anson Resources raises cash from options exercise ]]> http://www.proactiveinvestors.com.au/companies/news/191948/anson-resources-raises-cash-from-options-exercise-191948.html Anson Resources Ltd (ASX:ASN) has raised circa $125,000 following the issue of 5 million shares on early exercise of options at $0.025 per share.

First production of lithium carbonate from the company’s Paradox Lithium Project in Utah is expected in April 2018.

READ: Anson Resources conducting sample testing ahead of April lithium carbonate production

The company’s process sequencing will consist of extracting the boron and magnesium followed by the production of lithium carbonate.

Anson recently acquired the Cane Creek 32-1 oil well and the associated oil and gas lease which may be utilised by its in-field pilot plant.

READ: Anson Resources acquires power source as it moves to first lithium carbonate in April ]]>
Wed, 21 Feb 2018 14:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191948/anson-resources-raises-cash-from-options-exercise-191948.html
<![CDATA[News - Anson Resources gets more funding to develop lithium brine project ]]> http://www.proactiveinvestors.com.au/companies/news/191348/anson-resources-gets-more-funding-to-develop-lithium-brine-project-191348.html Anson Resources Ltd (ASX:ASN) has received an injection of circa $160,000 via the exercise of options at $0.025 per share.

Funding will likely be used towards exploration initiatives being undertaken by the company.

These include the Paradox Brine Project located in Utah and the Four Corners lithium prospect.

On track for first lithium carbonate in April

The Paradox brine project is a priority as the company makes good progress in bringing it into production by April 2018.

Another important development with this project is the identification of an existing oil well which may be utilised by its in-field pilot plant.

READ: Anson Resources acquires power source as it moves to first lithium carbonate in April Transitioning to production

Funds raised through the placement of options will assist in progressing the company’s project from bench-top test work to a feasibility study

A bulk brine sample collected from Gold Bar Unit 2 will be processed in a bench-top plant to validate magnesium can be removed and lithium carbonate can be produced.

While the transition to production will be an important step for the company, additional funds will also assist in progressing towards a feasibility study.

In-field pilot plant to contribute to feasibility study

The results of the bench top pilot plant will be used in the design of an in-field pilot plant, before moving to further drilling, feasibility study, and ultimately full-scale production.

The in-field pilot plant is intended to be a key part of a feasibility study to validate the process designed and tested in the laboratory scale bench-top plant.

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Thu, 08 Feb 2018 15:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191348/anson-resources-gets-more-funding-to-develop-lithium-brine-project-191348.html
<![CDATA[News - Anson Resources acquires power source as it moves to first lithium carbonate in April ]]> http://www.proactiveinvestors.com.au/companies/news/191104/anson-resources-acquires-power-source-as-it-moves-to-first-lithium-carbonate-in-april-191104.html Anson Resources Ltd (ASX:ASN) has acquired the Cane Creek 32-1 oil well and the associated oil and gas lease at its Paradox Lithium Project in Utah.

Bruce Richardson, managing director, said: “Acquiring a strategically located existing oil well completes a further step in the pilot plant plan, taking Anson one step closer to producing lithium carbonate.”

Anson will assume the bonding and rehabilitation costs and pay nominal consideration for the well and lease.

Infrastructure in place to service pilot plant

The well is strategically located near the in-field pilot plant industrial lease under consideration by the government of Utah.

It is self-powered by its own gas which may be utilised by the proposed in-field pilot plant.

A mains power line also runs through the acreage, and road infrastructure is established that could service a developed pilot plant.

First production of lithium carbonate in April 2018

Anson has been making steady progress since the successful removal of magnesium from synthetic brine was achieved in 2017.

A bulk brine sample collected from Gold Bar Unit 2 will be processed in a bench top plant to validate magnesium can be removed and lithium carbonate can be produced.

READ: Anson Resources conducting sample testing ahead of April lithium carbonate production

First production of lithium carbonate is expected in April 2018.

This process sequencing will consist of extracting the boron and magnesium followed by the production of lithium carbonate.

Progressing towards feasibility study

In addition to producing lithium carbonate, the bench-top test work is also expected to produce other marketable minerals.

These could include boron, bromine, iodine and magnesium, which may provide additional revenue for the project.

The results of the bench top pilot plant will be used in the design of an in-field pilot plant, before moving to further drilling, feasibility study, and ultimately full-scale production.

The in-field pilot plant is intended to be a key part of a feasibility study to validate the process designed and tested in the laboratory scale bench-top plant.

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Mon, 05 Feb 2018 09:42:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191104/anson-resources-acquires-power-source-as-it-moves-to-first-lithium-carbonate-in-april-191104.html
<![CDATA[News - Anson Resources conducting sample testing ahead of April lithium carbonate production ]]> http://www.proactiveinvestors.com.au/companies/news/190787/anson-resources-conducting-sample-testing-ahead-of-april-lithium-carbonate-production-190787.html Anson Resources Ltd’s (ASX:ASN) sample testing of brines extracted from Clastic Zone 31 at its Utah Paradox Lithium Project could be a potential share price catalyst.

Having successfully extracted brine from Clastic Zone 31 during the re-entry drilling of the Gold Bar Unit 2, a bulk sample is being tested to obtain finite results.

Bruce Richardson, managing director, said: “Successfully extracting brine from the Clastic Zone 31 significantly de-risks the project.

“It takes Anson one step closer to producing lithium carbonate on schedule in April 2018, and supports fast tracking an in-field pilot plant, planning of which is well progressed.”

Processing to validate previous test work

The sample from Clastic Zone 31 will be processed in a bench top plant to validate earlier test work on a synthetic brine.

This showed that lithium carbonate and other products were expected to be able to be produced from the brine.

The results of the bench-top processing will be used in the design of an in-field pilot plant, to further validate that lithium and other minerals can be extracted from the brine.

Assessing project economics

Sampling the assay should also assist management in understanding the economics of the project.

Further metallurgical test work will begin on the possible economics of other mineral products, including boron, bromine, iodine and magnesium.

READ: Anson Resources starts sampling on path to lithium production ]]>
Tue, 30 Jan 2018 10:49:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190787/anson-resources-conducting-sample-testing-ahead-of-april-lithium-carbonate-production-190787.html
<![CDATA[News - Anson Resources starts sampling on path to lithium production ]]> http://www.proactiveinvestors.com.au/companies/news/190336/anson-resources-starts-sampling-on-path-to-lithium-production-190336.html Anson Resources Ltd (ASX:ASN) has started sampling of lithium brines at the Paradox project in the Lithium Four Corners area of the U.S. state of Utah.

Sampling started after re-entry drilling of the Gold Bar Unit 2 well reached the target depth of 7,280 feet.

The samples will be collected from four Clastic horizons know to contain supersaturated brines.

After the work over rig reached the target depth, Anson pressure tested the drill pipe, which was found to be in good condition.

READ: Anson Resources on track for lithium carbonate production

Bruce Richardson, managing director, said: “Anson remains firmly on schedule to produce its first lithium carbonate in April 2018.

“In addition to having samples to assay, the likely economics of the project can begin to be understood.

“Further metallurgical test work will also begin on the possible economics of other mineral products in addition to lithium in the brines, including boron, bromine, iodine and magnesium.

“This comes as preparations and planning begin to progress to feasibility stage.”

The drilling has supported an increase in Anson shares which reached a 12-month high of $0.31 on 12 January, almost 350% higher than a month earlier.

Shares opened at $0.225 today, up from Friday’s close of $0.215.

Deep lithium-rich brines targeted

Anson is targeting lithium-rich brines in the deepest part of the Paradox Basin in close proximity to Moab, Utah.

Lithium values of up to 1,700ppm have historically been recorded within 270 metres of Anson’s claim area.

Sampling of the supersaturated brines will be supervised by SRK Consulting and samples will be sent to a certified laboratory in Nevada for assaying.

SRK’s technical team has been engaged in lithium-potassium brine projects in U.S, Australia, Chile and Argentina since 2008.

Flow rates of the brine aquifer will be measured for future modelling.

Bulk sample will be collected

A bulk sample will also be collected for processing in a bench top plant to validate earlier test work on a synthetic brine.

This work showed that lithium carbonate and other products were expected to be able to be produced from the brine.

Anson plans in-field pilot plant

After first production, results from the bench-top pilot plant will be used to design an in-field pilot plant, including the extraction of lithium and other minerals from Paradox Basin brines.

The in-field plant is intended to validate the process designed and tested in the laboratory scale bench-top plant, and is not intended to be a production plant.

Anson then plans to progress to further drilling, feasibility study and ultimately full-scale production.

READ: Anson Resources secures additional funding from Zhongfan Group

The exploration and test work is being supported by Zhongfan Group, a private, large-scale international enterprise group based in Shanghai, China, that integrates resource development, mineral trading and new material technology development.

Zhongfan and Anson have a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the Paradox project.

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Mon, 22 Jan 2018 10:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190336/anson-resources-starts-sampling-on-path-to-lithium-production-190336.html
<![CDATA[News - Anson Resources on track for lithium carbonate production ]]> http://www.proactiveinvestors.com.au/companies/news/189690/anson-resources-on-track-for-lithium-carbonate-production-189690.html Anson Resources Ltd (ASX:ASN) is on track to produce first lithium carbonate from its U.S. project in April 2018.

The company has started re-entry drilling of the Gold Bar Unit 2 well at the Paradox Lithium Project.

Brine samples will be sent to a certified laboratory for assaying with first results expected by the end of this month.

Bench-top processing

A bulk sample from this drilling will be collected for processing in a bench top plant to produce lithium carbonate.

The news flow from Paradox has resulted in a run on Anson’s shares and in early trade today, a new 12-month high of $0.28 was reached.

READ: Anson Resources breaks ground at Paradox Lithium Project

The project is in the Lithium Four Corners area in the state of Utah and Anson is targeting lithium-rich brines in the deepest part of the Paradox Basin.

Lithium values of up to 1,700 ppm have historically been recorded within 270 metres of Anson’s claim area.

Drilling to depth of 7,280 feet

Anson is drilling with a work-over rig to a depth of 7,280 feet and brine will be sampled from four separate clastic zones.

As well as gathering samples, flow rates of the brine aquifer will be measured for future modelling.

Earlier test work by Anson on a synthetic brine showed that lithium carbonate and other products were expected to be able be able to be produced from the brine.

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Tue, 09 Jan 2018 12:27:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189690/anson-resources-on-track-for-lithium-carbonate-production-189690.html
<![CDATA[News - Anson Resources ready to drill at U.S. lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/189358/anson-resources-ready-to-drill-at-us-lithium-project-189358.html Anson Resources Ltd (ASX:ASN) has completed drilling preparations at its Paradox Lithium Project in the Lithium Four Corners area of the U.S. state of Utah.

The drill rig will now be moved to the site where it will re-enter the Gold Bar Unit 2 well and begin sampling.

Following drilling Anson will begin a metallurgical test work program of samples with the aim of producing lithium carbonate.

Strong news flow expected

A strong flow of news during 2018 is expected to support the company’s share price which continues to climb, reaching a 12-month high of $0.19 in early trade.

Bruce Richardson, managing director, commented: "Extracting brine is now extremely close and Anson remains firmly on schedule to produce its first lithium carbonate in April 2018."

READ: Anson Resources breaks ground at Paradox Lithium Project

The company has built the drill pad, excavated the cuttings pit, dug the cellar and upgraded the site access road.

Excavation of the cellar, welding the casings and installing the blowout preventers will be completed before the rig arrives, which will save time during the drilling.

The test work program involves assaying samples for lithium and other minerals at a laboratory in the U.S.A.

Bulk sample will be processed

A 500 litre bulk sample will also be processed in a bench-top plant with the goal of producing lithium carbonate.

This process will be based upon that which successfully removed magnesium from a synthetic brine sample in April 2017.

It will consist of extracting the boron by solvent extraction (SX), followed by removal of the magnesium by chemical precipitation and calcium by a SX process.

Other mineral products possible

Richardson added: "In addition to having samples to assay, the likely economics of the project can begin to be understood as further metallurgical test work will also begin on the possible economics of the other mineral products.

"In addition to lithium in the brines, other products include boron, bromine, iodine and magnesium."

These products will also be offered to potential end users for qualification test work.

Results of the bench-top pilot plant will be used for the design of an in-field pilot plant, including the extraction of lithium and other minerals from the Paradox Basin brines.

The in-field plant is intended to validate the process designed and tested in the laboratory scale bench-top plant, and is not intended to be a production plant.

Anson then plans to progress to further drilling, feasibility study and ultimately full-scale production.

READ: Anson Resources secures additional funding from Zhongfan Group

The company’s exploration and test work is being supported by Zhongfan Group, a privately owned, large scale international enterprise group based in Shanghai, China, that integrates resource development, mineral trading and new material technology development.

Last week Anson completed a further share placement to Zhongfan at $0.088 to raise $1.76 million.

Zhongfan and Anson have a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the Paradox project.

New appointment

Anson has appointed Nevenka Jackson as company secretary, chief financial officer and officer responsible for communication with the ASX.

The appointment will enable Michael van Uffelen to relinquish these roles in order to provide assistance to the managing director.

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Tue, 02 Jan 2018 10:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189358/anson-resources-ready-to-drill-at-us-lithium-project-189358.html
<![CDATA[News - Anson Resources' shares cruise to 12-month high ]]> http://www.proactiveinvestors.com.au/companies/news/189329/anson-resources-shares-cruise-to-12-month-high-189329.html Anson Resources Ltd (ASX:ASN) continues to be one of the best performing companies on the ASX during 2017, and yesterday climbed to $0.165, a record high for the year.

Earlier in the week Anson completed a further share placement to Zhongfan Group at $0.088 to raise $1.76 million.

Bruce Richardson, managing director for Anson, commented:

"Zhongfan is a very supporting strategic partner, who continue to show tremendous support from Anson’s Paradox Lithium Project.

"With reach into multiple markets, and a complementary business line expected to utlise lithium, Anson is very pleased to have further strengthened its business relationship with Zhongfan."

The company has started the earthworks stage of a drilling program at Paradox Lithium Project in the Lithium Four Corners area of the U.S. state of Utah.

The work is the first stage of the fully funded program and includes preparing a drill pad and upgrading an access road.

Once the work is complete a drilling rig will be mobilised to site.

The Zhongfan Group

Zhongfan Group (Chia Tai Xingye International) is a privately owned, large scale international enterprise group based in Shanghai, China, that integrates resource development, mineral trading and new material technology development.

The group and has over US$2 billion in annual turnover.

Zhongfan and Anson have a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the Paradox Lithium Project.

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Fri, 29 Dec 2017 09:23:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189329/anson-resources-shares-cruise-to-12-month-high-189329.html
<![CDATA[News - Anson Resources breaks ground at Paradox Lithium Project ]]> http://www.proactiveinvestors.com.au/companies/news/188912/anson-resources-breaks-ground-at-paradox-lithium-project-188912.html Anson Resources Ltd (ASX:ASN) has started the earthworks stage of a drilling program at Paradox Lithium Project in the Lithium Four Corners area of the U.S. state of Utah.

The work is the first stage of the fully funded program and includes preparing a drill pad and upgrading an access road.

Once the work is complete a drilling rig will be mobilised to site.

Breaking ground a “landmark milestone”

Bruce Richardson, managing director, said: “Breaking ground on at the Paradox Lithium Project is a landmark milestone for Anson.

"Our goal of becoming a lithium producer is now one step closer.”

The drilling program will be via the re-entry of the historical Gold Bar Unit 2 well, which has been located and found to be in good condition and will be via a work over rig, which is smaller and truck mounted compared to a rig used to drill a new hole.

READ: Anson Resources shares surge, remains on track for lithium carbonate production

During the drilling program brine will be collected for processing in a bench-top plant enabling first lithium carbonate to be produced in April 2018.

Anson then plans to progress to an in-field pilot plant on 15 acres of industrial land.

The company has applied to the State of Utah School and Institutional Trust Lands Administration to lease the land.

READ: Anson Resources extends lithium brine project near high-grade lithium

The bench-top test work program is fully funded following a placement to Zhongfan Group, a privately owned, large-scale international enterprise group based in Shanghai, China.

Zhongfan and Anson have a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the Paradox project.

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Mon, 18 Dec 2017 12:31:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188912/anson-resources-breaks-ground-at-paradox-lithium-project-188912.html
<![CDATA[News - Anson Resources shares surge, remains on track for lithium carbonate production ]]> http://www.proactiveinvestors.com.au/companies/news/188762/anson-resources-shares-surge-remains-on-track-for-lithium-carbonate-production-188762.html Anson Resources Ltd (ASX:ASN) has submitted an application to lease land at its Paradox Lithium Project in Utah, US to construct a pilot plant.

The application was submitted to the state government to lease 15 acres of industrial land.

Successfully securing this industrial site will enable Anson to fast-track the development of an infield pilot plant.

Plant to produce lithium carbonate

The in-field pilot plant aims to produce lithium carbonate for product qualification.

Bruce Richardson, managing director, said: “Identifying an industrial site on which to potentially locate an in-field pilot plant is a key step to fast-track development by potentially reducing the time needed to obtain approvals.”

READ: Anson Resources will begin phase I exploration this week at U.S. lithium project

Anson is also about to begin a drilling program during which brine will be collected for processing in a bench-top plant.

This will enable first lithium carbonate to be produced in April 2018.

Discussions have also been held with battery manufacturers to bench test product.

READ: Anson Resources extends lithium brine project near high-grade lithium

The news flow resulted in shares spiking to $0.105 in early trade on volume of more than 14 million.

The bench-top test work program is fully funded following a placement to Zhongfan Group, a privately owned, large-scale international enterprise group based in Shanghai, China.

Zhongfan integrates resource development, mineral trading and new material technology development, and has over US$2 billion in annual turnover.

READ: Anson Resources secures additional funding from Zhongfan Group

Zhongfan and Anson have a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the Paradox project.

Richardson said: “With the ongoing financial support of a strategic investor, the Zhongfan Group, Anson remains on track to create further shareholder value from development of its world-class lithium brine project.

“Each step brings this goal a little closer.”

Discussions with battery producers

Discussions have also been held with a number of battery producers, including those with whom Anson has existing memoranda of understanding.

The aim of these discussions is to enter into detailed negotiations for the supply of lithium to begin product qualification testing.

Anson expects to be able to supply lithium from its bench-top plant to battery manufacturers for testing in April 2018.

After completing the bench-top work, Anson intends progressing a larger scale in-field pilot plant enabling further product qualification testing.

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Thu, 14 Dec 2017 11:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188762/anson-resources-shares-surge-remains-on-track-for-lithium-carbonate-production-188762.html
<![CDATA[News - Anson Resources will begin phase I exploration this week at U.S. lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/188614/anson-resources-will-begin-phase-i-exploration-this-week-at-us-lithium-project-188614.html Anson Resources Ltd (ASX:ASN) will begin phase I exploration this week at the Paradox Lithium Project in the U.S. state of Utah.

The company has appointed key contractors for this work and the first task is to upgrade the access road followed by construction of a drill pad.

A work-over drilling rig will then be mobilised to the site for a maiden drilling and sampling program.

Work-over drilling rig available when needed

The drilling contractor has received the drill procedures and the rig operator has confirmed that a work-over will be available when needed.

The drilling program will be the re-entry of the historic Gold Bar Unit 2 well, which was previously drilled for oil, through four clastic zones known to contain brines.

READ: Anson Resources extends lithium brine project near high-grade lithium

Anson is targeting lithium rich brines in the deepest part of the Paradox Basin in close proximity to Moab, Utah.

Lithium values of up to 1,700ppm have historically been recorded within 270 metres of Anson’s claim area.

The aim of the drilling is to sample the brines in these clastic zones for lithium.

The first samples are expected to be assayed in January 2018.

Bulk sample will be collected

A bulk sample will also be collected from Clastic Zone 31, which is known to contain lithium from historical drilling and assays.

The sample will be processed in a bench-top plant with the goal of producing lithium carbonate, and other products.

READ: Anson Resources secures additional funding from Zhongfan Group

Bruce Richardson, managing director, said: “This maiden drilling program at Paradox Lithium Project is a key step in advancing Anson’s world-class project to the first production of lithium carbonate.

“The lithium carbonate that will be produced from the bulk sample is planned to be provided to battery producers for short-term product qualification testing.

“Anson plans to make this material available in April 2018.”

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Tue, 12 Dec 2017 10:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188614/anson-resources-will-begin-phase-i-exploration-this-week-at-us-lithium-project-188614.html
<![CDATA[News - Anson Resources extends lithium brine project near high-grade lithium ]]> http://www.proactiveinvestors.com.au/companies/news/188076/anson-resources-extends-lithium-brine-project-near-high-grade-lithium-188076.html Anson Resources Ltd (ASX:ASN) has staked an additional 217 claims (1,756 hectares) at its Paradox Lithium Brine Project in Utah, US.

Importantly, the new claims are only 120 metres from a well with historical grades of 500 ppm lithium and 270 metres from a well with historical grades of 1,700 ppm lithium.

The expansion also provides potential to significantly expand the project’s current Exploration Target of 30 to 40 million barrels of brine grading 500 to 1,700 ppm of lithium.

Managing director believes expansion provides multiple opportunities

Bruce Richardson, managing director, said: “The strategic importance of staking this additional ground cannot be understated as it provides an opportunity for Anson to conduct an exploration program 120 metres from an area where world-class grades of lithium brines have been recorded.

“The staking of this ground provides targets for a new well or re-entry of an existing well.

“Anson is fully funded to fast-track the drilling of additional targets to work towards a JORC resource.”

READ: Anson Resources secures additional funding from Zhongfan Group

The new claims contain the historical Coors USA 1-10LC well drilled to 8,472 feet which is now plugged and abandoned.

Notably, the well can be used as a future re-entry target to fast-track Anson’s exploration program.

Historical records show the well intersected multiple zones of interest to Anson, including the main target zone, Clastic Zone 31.

Anson’s current Exploration Target was estimated for Clastic Zone 31.

Anson prepares maiden drill program

Recently, Anson outlined that it remains on schedule to commence a fully-funded drilling program before the end of the year at Paradox.

Environmental, cultural and paleontological studies have been accepted by the Bureau of Land Management, and Anson is fully permitted to drill.

The drilling program will be the re-entry of an existing well, Gold Bar Unit 2, which was previously drilled through the multiple brine zones Anson is targeting to sample for lithium.

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Fri, 01 Dec 2017 08:01:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188076/anson-resources-extends-lithium-brine-project-near-high-grade-lithium-188076.html
<![CDATA[News - Anson Resources prepares for highly anticipated drilling at Paradox Lithium Project ]]> http://www.proactiveinvestors.com.au/companies/news/187545/anson-resources-prepares-for-highly-anticipated-drilling-at-paradox-lithium-project-187545.html Anson Resources Ltd (ASX:ASN) is on schedule to commence a fully-funded drilling program before the end of the year at the Paradox Lithium Project in the U.S.

Environmental, cultural and paleontological studies have been accepted by the Bureau of Land Management, and Anson is fully permitted to drill.

Anticipation is building and Anson's shares have rallied to $0.14. Three months ago shares could be snapped up for close to $0.01.

READ NOW: Anson Resources secures additional funding from Zhongfan Group

Bruce Richardson, managing director, commented:

"It is pleasing that Anson is on track to commence drilling the Utah Lithium Project as scheduled.

"The completion of the second investment by Zhongfan enables Anson to progress towards a JORC Resources in subsequent drilling programs further increasing shareholder value."

Drilling details

The drilling program will be the re-entry of an existing well, Gold Bar Unit 2, which was previously drilled through the multiple brine zones Anson is targeting to sample for lithium.

The drilling will be via a work over rig, which is smaller and truck mounted compared to a rig used to drill a new hole.

Accordingly the drilling program is faster and cheaper.

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Tue, 21 Nov 2017 11:22:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187545/anson-resources-prepares-for-highly-anticipated-drilling-at-paradox-lithium-project-187545.html
<![CDATA[News - Anson Resources secures additional funding from Zhongfan Group ]]> http://www.proactiveinvestors.com.au/companies/news/187472/anson-resources-secures-additional-funding-from-zhongfan-group-187472.html Anson Resources Ltd (ASX:ASN) has boosted its cash position after agreeing an additional placement to Zhongfan Group Co. Ltd.

Anson will issue a further 20 million shares to Zhongfan at $0.088 to raise $1.76 million.

The proceeds will be used to fund drilling to further define the mineral content of the lithium rich brines and to progress to delineating a JORC Resource at Anson’s Paradox Lithium Project.

The project is located in the “Lithium Four Corners” area of the U.S.

READ: Anson Resources aims to fast-track Paradox Lithium Project with the help of Zhongfan Group

Bruce Richardson, managing director, said: "This second round of investment by Zhongfan further strengthens Zhongfan’s commitment to be one of Anson’s development partners.

"Anson remains confident that as planning of the next phases of exploration and development continue, that further funding will be provided by Zhongfan under the memorandum of understanding."

First placement

Anson previously placed 20 million shares to Zhongfan in October 2017 at $0.03 to fund a bench-top pilot plant to assist with the development of an in-field pilot plant.

Zhongfan and Anson then signed a memorandum of understanding to work towards a binding agreement for Zhongfan to fund development works at the project.

Analysis

Zhongfan are particularly attracted to Anson’s target to produce lithium carbonate equivalent from a pilot plant linked directly to the brine from the planned exploration and sampling program to commence in the December quarter 2017.

This will enable product qualification testing in the short to medium term.

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Mon, 20 Nov 2017 13:42:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187472/anson-resources-secures-additional-funding-from-zhongfan-group-187472.html
<![CDATA[News - Anson Resources upgrades lead deposit to JORC 2012 ]]> http://www.proactiveinvestors.com.au/companies/news/187179/anson-resources-upgrades-lead-deposit-to-jorc-2012-187179.html Anson Resources (ASX:ASN) has successfully upgraded its 100% owned Mary Springs lead deposit located in Western Australia to JORC 2012 standards.

This was achieved using the recently acquired historical Mary Springs database along with a review of all historical drilling, soil geochemistry and geophysical surveys.

The Indicated and Inferred resource totals 390,000 tonnes grading 6.5% lead.

Bruce Richardson, managing director, commented: “Anson’s flagship project, the Paradox Brine Project, in Utah is Anson’s main focus.

“However, the additional targets interpreted for the Ajana Project are of interest and should be explored in the future to continue to create shareholder value.”

Project portfolio

The Mary Springs lead deposit is part of the Ajana Graphite Project which is one of three projects in Anson’s portfolio that provide exposure to a range of clean energy commodities and geographical locations:

- Paradox Lithium Brine Project (Utah, U.S.);
- Ajana Graphite Project (Western Australia); and
- Hooley Wells Nickel-Cobalt Laterite Project (Western Australia).

Paradox Lithium Brine Project

The Paradox Lithium Brine Project consists of 291 placer claims covering an area of 23.3 square kilometres in the U.S. state of Utah, an 11-hour drive to the Tesla Gigafactory.

The project covers an 8.9-kilometre strike length along what is known as Robert’s Rupture, a significant rift, thought to be a source of lithium rich brines.

Historical brine analysis taken within 800 metres of the project produced results ranging from 500 ppm to 1,700 ppm lithium, comparable to the world's highest grades of lithium brine.

A proven basin and new lithium province

Anson is strategically located in the deepest part of the Paradox Basin, a basin where brines are known to exist.

A new lithium province is forming known as The Four Corners and Anson has one of the largest landholdings compared to peers in the new province.

Companies in The Four Corners postcode include Liberty One Lithium Corp (CVE:LBY), Voltaic Minerals Corp (CVE:VLT), US Cobalt Inc (CVE:USCO), Power Metals Corp (CVE:PWM), American Potash Corp (CNSX:AMP) and MGX Minerals Inc (CNSX:XMG).

Comparing lithium grades

For the purpose of context, a 1,700 ppm lithium brine grade is very high compared to select lithium brine deposits worldwide:

- Atacama, Chile (1,400 ppm);
- Bonnie Claire, Nevada (340 ppm);
- Clayton Valley, Nevada (200 ppm);
- Uyuni, Bolivia (200 ppm);
- Big Smokey Valley, Nevada (160 ppm); and
- Hombre Muerto, Argentina (160 ppm).

READ NOW: Anson Resources' shares soar as results higher than expected from Paradox Brine Project READ NOW: Anson's shares spike on continued progress at lithium project in the U.S. ]]>
Tue, 14 Nov 2017 07:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187179/anson-resources-upgrades-lead-deposit-to-jorc-2012-187179.html
<![CDATA[News - Anson Resources' shares soar as results higher than expected from Paradox Brine Project ]]> http://www.proactiveinvestors.com.au/companies/news/187055/anson-resources-shares-soar-as-results-higher-than-expected-from-paradox-brine-project-187055.html Anson Resources Ltd's (ASX:ASN) shares have jumped another 36.4% to $0.15 intra-day, with 20 million changing hands.

In August shares were priced at just $0.01, making the company a 15-bagger.

Driving the shares higher today are better than previously estimated results from the company's Paradox Brine Project in Utah.

The petrographic test work has increased the historical porosity value by 50%, which has the potential to significantly increase Anson’s exploration target.

The target is 30 to 40 million barrels of brine at 500 to 1,700 ppm of lithium.

This was estimated for the Clastic Zone 31 only.

Petrology details

Anson has completed testing of the petrology of the Gold Bar Unit 2 well cuttings from the Clastic Zone 31 at Paradox.

The cuttings were obtained from the USGS Core Research Centre (CRC) in Denver, Colorado, from the drill cuttings retained in 1981.

Anson said that analysis shows that the Clastic Zone 31, which was intersected by the historical drilling of the Gold Bar Unit 2 well, has very good to excellent porosity.

This is defined as 30% to 40%.

Anson previously estimated an exploration target in which porosity was determined to be 17.5% for the Gold Bar Unit 2 well.

The 17.5% porosity estimate was determined from historical geophysical logs whereas the 30-40% porosity figure was determined by petrographic test work completed by Anson.

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Fri, 10 Nov 2017 14:31:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187055/anson-resources-shares-soar-as-results-higher-than-expected-from-paradox-brine-project-187055.html
<![CDATA[News - Anson's shares spike on continued progress at lithium project in the U.S. ]]> http://www.proactiveinvestors.com.au/companies/news/186658/anson-s-shares-spike-on-continued-progress-at-lithium-project-in-the-us-186658.html Anson Resources Ltd’s (ASX:ASN) shares closed circa 27% higher on Thursday as it continues to make progress at its Paradox Lithium Project in the U.S. state of Utah.

Earlier this week, the company executed a Memorandum of Understanding (MoU) with Zhongfan Group, a large scale international enterprise group based in Shanghai, China.

READ NOW: Anson Resources aims to fast-track Paradox Lithium Project with the help of Zhongfan Group

Zhongfan integrates resource development, mineral trading and new material technology development, and has over US$2 billion in annual turnover.

The agreement provides scope for Anson and Zhongfan to work towards a binding agreement whereby Zhongfan may invest to facilitate the funding of Anson’s Stage 3 development.

Anson remains on schedule to commence drilling in the December quarter 2017, and the company plans to re-enter the historic Gold Bar Unit 2 oil well to test super saturated brines for lithium.

Zhongfan were particularly attracted to Anson’s target to produce lithium carbonate equivalent (LCE) from a pilot plant linked directly to the brine from the planned exploration and sampling program which will take place.

The Chinese company indicated that it has interest in entering into negotiations to participate in the funding of the in-field pilot plant through equity investment, convertible notes or a pre-paid offtake agreement for the supply of LCE.

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Fri, 03 Nov 2017 08:21:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186658/anson-s-shares-spike-on-continued-progress-at-lithium-project-in-the-us-186658.html
<![CDATA[News - Anson Resources aims to fast-track Paradox Lithium Project with the help of Zhongfan Group ]]> http://www.proactiveinvestors.com.au/companies/news/186385/anson-resources-aims-to-fast-track-paradox-lithium-project-with-the-help-of-zhongfan-group-186385.html Anson Resources Ltd (ASX:ASN) has executed a Memorandum of Understanding (MoU) with Zhongfan Group, a large scale international enterprise group based in Shanghai, China.

Zhongfan integrates resource development, mineral trading and new material technology development, and has over US$2 billion in annual turnover.

The agreement provides scope for Anson and Zhongfan to work towards a binding agreement whereby Zhongfan may invest to facilitate the funding of Anson’s Stage 3 development works at the Paradox Lithium Project located in the U.S. state of Utah.

Anson remains on schedule to commence drilling in the December quarter 2017, and the company plans to re-enter the historic Gold Bar Unit 2 oil well to test super saturated brines for lithium.

The Gold Bar Unit 2 well has been previously drilled to a depth of 9,862 feet in search of oil.

The Clastic 31 Zone, targeted by Anson, which is known to contain supersaturated brines is located at 7,080 feet.

Historical brine analysis taken within 800 metres of the project produced results ranging from 500 ppm to 1,700 ppm lithium, comparable to the world's highest grades of lithium brine.

Why Anson?

Zhongfan were particularly attracted to Anson’s target to produce lithium carbonate equivalent (LCE) from a pilot plant linked directly to the brine from the planned exploration and sampling program which will take place.

Zhongfan indicated that it has interest in entering into negotiations to participate in the funding of the in-field pilot plant through equity investment, convertible notes or a pre-paid offtake agreement for the supply of LCE and the potentially other minerals that could be produced by the processing plant.

Bruce Richardson, managing director for Anson, commented:

"The MoU with Zhongfan and their interest in funding the fast-tracking of the Stage 3 development works of the Paradox Lithium Project represents to Anson an opportunity to access sales channels to multiple cathode and battery manufactures in Asia and particularly China."

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Mon, 30 Oct 2017 13:21:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186385/anson-resources-aims-to-fast-track-paradox-lithium-project-with-the-help-of-zhongfan-group-186385.html
<![CDATA[News - Anson Resources to drill for lithium in Utah this year ]]> http://www.proactiveinvestors.com.au/companies/news/186061/anson-resources-to-drill-for-lithium-in-utah-this-year-186061.html Anson Resources Ltd (ASX:ASN) has moved a step closer to its highly anticipated drilling program at the wholly-owned Paradox Lithium Brine Project located in the U.S. state of Utah.

A permit to drill has now been received from the State of Utah, Department of Natural Resources, Division of Oil, Gas and Mining (UDOGM).

Representatives of Anson met with UDOGM in Salt Lake City last week and as a result obtained the permit earlier than expected.

Bruce Richardson, managing director for Anson, commented:

"The company has recently visited Utah and it has received excellent support from the USA government agencies involved in the approval process.

"Great interest was shown by the representatives of the USA government and we remain on track to commence the drilling and sampling program in late Q4 2017.

"Meetings with drilling companies were also successful in identifying rigs that will be available at the time that Anson plans to drill and the visits also assisted with defining the re-entry program and sampling protocol."

Next steps

An application to conduct drilling activities at Gold Bar Unit 2 had been accepted by the USA Federal agency, the Bureau of Land Management (BLM).

A further approval by the BLM is still required before earth disturbance, including drilling activity, can commence.

This approval is expected to be received in November 2017.

READ NOW: Anson Resources to receive foreign investment for test work ]]>
Tue, 24 Oct 2017 11:05:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186061/anson-resources-to-drill-for-lithium-in-utah-this-year-186061.html
<![CDATA[News - Anson Resources allocates code for heavily in-the-money options ]]> http://www.proactiveinvestors.com.au/companies/news/185085/anson-resources-allocates-code-for-heavily-in-the-money-options-185085.html Anson Resources Ltd's (ASX:ASN) shares have entered four-bagger territory in just the past two months as it continues towards drilling at its wholly-owned Paradox Lithium Brine Project located in the U.S. state of Utah.

Where the Anson story becomes even more interesting for shareholders, is the option package that came along with the recent raising.

The last raising by the company included a placement and share purchase plan at $0.011, which is a quarter of the current price.

There was also a 1:1 free attaching option exercisable at $0.025, which is now heavily in the money, and exercisable on or before the 10th August 2018.

The ASX has now allocated the new option code as (ASX:ASNOB).

READ NOW: Anson Resources to receive foreign investment for test work ]]>
Thu, 05 Oct 2017 12:06:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185085/anson-resources-allocates-code-for-heavily-in-the-money-options-185085.html
<![CDATA[News - Anson Resources to receive foreign investment for test work ]]> http://www.proactiveinvestors.com.au/companies/news/185076/anson-resources-to-receive-foreign-investment-for-test-work-185076.html Anson Resources (ASX:ASN) has agreed to place 20 million shares to an overseas sophisticated investor priced at $0.03 to raise $600,000.

Proceeds from the placement are intended to fund exploration at Anson’s 100% owned Paradox Lithium Brine Project located in the U.S. state of Utah.

This includes the Stage 2 metallurgical test work and plant development program.

Stage 2 will see 500 litres of brine processed in a bench-top lithium plant.

The 500 litres will come from a bulk sample of 30,000 litres of brine intended to be collected during the upcoming re-entry drilling of the historical Gold Bar Unit 2 well.

Results are to be used to design a pilot plant for in-field validation of the processing plant technology.

Metallurgical test work and plant development program

Samples taken from drilling the Gold Bar Unit 2 well will be used to conduct test work to determine the design of a processing plant to extract lithium and other minerals from the Paradox Basin brines.

The proposed stages of the metallurgical test work are:

- Stage 1: Assay samples collected during the Gold Bar Unit 2 drilling for lithium and other minerals at a laboratory in the U.S;
- Stage 2: Process a bulk sample of 500 litres of brine from the Gold Bar Unit 2 re-entry drilling in a bench-top plant with a goal of producing lithium carbonate equivalent; and
- Stage 3: Design an in-field pilot plant prior to progressing to further drilling, feasibility study, and ultimately full-scale production.

Gold Bar Unit 2 well

Anson plans to re-enter the historic Gold Bar Unit 2 oil well to test super saturated brines for lithium.

The Gold Bar Unit 2 well has been previously drilled to a depth of 9,862 feet in search of oil.

The Clastic 31 Zone, targeted by Anson, which is known to contain supersaturated brines is located at 7,080 feet.

Historical brine analysis taken within 800 metres of the project produced results ranging from 500 ppm to 1,700 ppm lithium, comparable to the world's highest grades of lithium brine.

Exploration target increase opportunity

Anson’s Exploration Target of 30 to 40 million barrels of brine grading 500 to 1,700 ppm of lithium was calculated for Clastic Zone 31 only of Gold Bar Unit 2.

Additional horizons are known to contain brines, specifically Clastic Zones 7, 9, 13, 21, 25, 27 and 43.

Clastic Zone 17 brine has been previously assayed for lithium with historical records indicating lithium values of up to 339 ppm with the zone having a thickness of 35 feet at a depth of 6,205 feet.

By comparison, Clastic Zone 31 is 25 feet thick and is at a depth of 7,080 feet.

The additional brine bearing Clastic Zones may provide significant additional upside potential to Anson’s current Exploration Target.

Upcoming drilling will test new zones

Anson is planning a drilling program to commence late in the current December quarter with the main target being the lithium-rich brines within Clastic Zone 31.

At the same time, and for minimal incremental cost, Clastic Zones 17, 19, and 29 will be sampled and flow tested.

READ: Anson Resources allocates code for heavily in-the-money options ]]>
Thu, 05 Oct 2017 09:53:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185076/anson-resources-to-receive-foreign-investment-for-test-work-185076.html
<![CDATA[News - Anson's enters four-bagger territory as lithium drilling draws closer at Paradox ]]> http://www.proactiveinvestors.com.au/companies/news/184706/anson-s-enters-four-bagger-territory-as-lithium-drilling-draws-closer-at-paradox-184706.html Anson Resources Ltd (ASX:ASN) continues to build anticipation of a drilling program at the Paradox Lithium Brine Project, located in Utah, U.S.

Anson plans to re-enter the historic Gold Bar Unit 2 oil well to test super saturated brines for lithium.

The Gold Bar Unit 2 well has been previously drilled to a depth of 9,862 feet in search of oil.

The Clastic 31 Zone, targeted by Anson, which is known to contain supersaturated brines is located at 7,080 feet.

Historical brine analysis taken within 800 metres of the project produced results ranging from 500 ppm to 1,700 ppm lithium, comparable to the world's highest grades of lithium brine.

Anson's shares have surged another 17.7% to $0.04 in morning trade, with 45 million changing hands.

Go back to mid-August, and shares could have been snapped up for $0.01, making Anson a four-bagger in six weeks.

Why today's price surge

Anson has now cleared the first drilling permitting hurdle.

The company's application to conduct drilling activities at Gold Bar Unit 2 has been accepted by the Bureau of Land Management (BLM).

Anson is now on schedule to commence drilling in the December quarter 2017.

The BLM have completed their review of Anson’s application to drill, and all required information has been provided, enabling Anson to progress to the next stage of the Notice of Intent for Exploration Activity (NOI) application process.

The BLM has also completed a site visit to the Gold Bar Unit 2 area and no issues were identified.

Following the review by the BLM, an Application for Permit to Drill (APD) has now been electronically submitted to the Utah Department of Oil & Gas and Minerals (UDOGM), where approval is expected to take 40 days.

Bruce Richardson, managing director, commented:

"The company is fully funded to conduct the re-entry of Gold Bar Unit 2 and obtain brine samples from several clastic zones for testing for lithium as soon as approval is provided.

"It is pleasing that we are on schedule to commence the re-entry of the oil well on the 100% Anson owned claims.

"We are now designing the brine sampling program with an aim of having confirmed assay results in early 2018."

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Thu, 28 Sep 2017 11:09:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184706/anson-s-enters-four-bagger-territory-as-lithium-drilling-draws-closer-at-paradox-184706.html
<![CDATA[News - Anson Resources' shares rocket higher on lithium off-take agreements ]]> http://www.proactiveinvestors.com.au/companies/news/184253/anson-resources-shares-rocket-higher-on-lithium-off-take-agreements-184253.html Anson Resources Ltd's (ASX:ASN) shares have jumped 71% to $0.024 in the first 40 minutes of trade, and touched a high of $0.027.

Trading volumes are very high with 67 million shares already changing hands.

Driving the positive re-rating are details that a Memoranda of Understanding (MoU) has been executed with three leading Chinese battery manufacturers.

The MoU will help Anson work towards supply off-take agreements.

Bruce Richardson, managing director, commented:

"We are delighted with the interest shown by Chinese battery producers and in particular the interest in investment in the Paradox Lithium Project as we continue our development strategy toward production of LCE product.

"The signing of these non-binding MOU’s is an important first step in becoming part of the battery supply chain in China which is already producing more electric vehicles (EV’s) than any other country in the world and has plans to further increase the production of EV’s and dominate the world market.

"Anson is well placed to take advantage of these opportunities given the skills of the Board members and the advantages of the Anson’s lithium project."

Anson's portfolio

Paradox is one of three projects in Anson’s portfolio that provide exposure to a range of clean energy commodities and geographical locations:

- Paradox Lithium Brine Project (Utah, U.S.);
- Ajana Graphite Project (Western Australia); and
- Hooley Wells Nickel-Cobalt Laterite Project (Western Australia).

Importance of Gold Bar within the Paradox Project

Anson plans to re-enter the historic Gold Bar Unit 2 oil well to test super saturated brines for lithium.

The Gold Bar Unit 2 well has been previously drilled to a depth of 9,862 feet in search of oil.

The Clastic 31 Zone, targeted by Anson, which is known to contain supersaturated brines is located at 7,080 feet.

Historical brine analysis taken within 800 metres of the project produced results ranging from 500 ppm to 1,700 ppm lithium, comparable to the world's highest grades of lithium brine.

Location near Tesla Gigafactory

The Paradox project is located in the resources friendly jurisdiction of Utah and is an 11-hour drive to the Tesla Inc's (NASDAQ:TSLA) Gigafactory in the neighbouring state of Nevada.

It is located 4 kilometres from an operating potash mine and in a semi-desert region that has 300 days of sun per year.

The project covers an 8.9-kilometre strike length along what is known as Robert’s Rupture, a significant rift, thought to be a source of lithium rich brines.

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Wed, 20 Sep 2017 10:47:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184253/anson-resources-shares-rocket-higher-on-lithium-off-take-agreements-184253.html
<![CDATA[News - Anson Resources' shareholders snap up share offer which is two-times subscribed ]]> http://www.proactiveinvestors.com.au/companies/news/183645/anson-resources-shareholders-snap-up-share-offer-which-is-two-times-subscribed-183645.html Anson Resources Ltd (ASX:ASN) has some very supportive shareholders.

The company targeted a share purchase plan raising of $400,000, and received more than double with $935,000 in applications.

Given the overwhelming demand, Anson accepted $760,000 in applications.

There was also a private placement for $460,000, taking the total raising to just over $1.2 million.

The plan for the funds is to drill the company's lithium brine project in the Paradox Basin, Utah, U.S.

SRK Consulting has validated re-entry of the historic Gold Bar Unit 2 well, and now Anson has submitted a Notice of Intent permit application with the U.S. Bureau of Land Management in Utah.

Bruce Richardson, managing director, commented:

"The strong support from our existing shareholder base has indicated their support for the Utah Lithium Project development strategy.

"The additional funds raised will enable Anson to fast track its exploration and development strategy."

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Fri, 08 Sep 2017 13:41:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183645/anson-resources-shareholders-snap-up-share-offer-which-is-two-times-subscribed-183645.html