Proactiveinvestors Australia Anson Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Anson Resources Ltd RSS feed en Sat, 20 Apr 2019 21:14:24 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Anson Resources prepares lithium carbonate samples for qualification testing ]]> https://www.proactiveinvestors.com.au/companies/news/218536/anson-resources-prepares-lithium-carbonate-samples-for-qualification-testing-218536.html Anson Resources Ltd (ASX:ASN) (FRA:9MY) specialises in brine-based minerals extraction exploration in the US. It is run by executive chairman and CEO Bruce Richardson, a corporate leader and former Australian trade commissioner who has more than 30 years experience on his CV.

Richardson has focused on the resources industry for eight years and was chief executive officer of Top Iron Pty Ltd and chairman of a government relations subcommittee for the WA Australia China Business Council. He was previously an Australian trade commissioner in China for 10 years.

What does Anson Resources own?

The key asset is the Paradox Lithium Project in the US state of Utah, near the Tesla Inc (NASDAQ:TSLA) (FRA:TL0) (ETR:TL0) (SWX:TSLA) gigafactory in Nevada.

The brines found at the project are prospective for lithium, along with bromine, iodine and boron.

Paradox is positioned near vital transport routes such as interstate highways and railways, as well as energy infrastructure such as gas and power lines.

Anson has been assessing how to incorporate bromine and iodine recovery processes into an in-field pilot plant at the lithium brine project to add more to its value.

The company also completed additional flow test rate testing at the Skyline Unit 1 and Long Canyon No 2 wells at the project, revealing last Thursday it had increased brine flow rates by a significant 320%.

Contractor Hazen Research Inc had already conducted bench-scale test work for the company on boron, bromine and iodine from Paradox Basin brine extracted from the project, showing each high-value product could be successfully recovered from the brine using established technologies.

Bromine recovery was notably more than 90% while iodine recovery in excess of 70% during the testing.

The price for bromine was tracking up to US$4,500 a short ton in February 2019 after lower levels of US$3,500/ton were seen in the commodity cycle in 2015. Iodine was about US$26,500/ton in 2017.

The US is a major producer of both minerals.

Anson has also recently demonstrated that a five-stage extraction process can recover 89% of boric acid.

Boron in the form of borates is used in more than 300 applications with over 75% of world consumption for use in ceramics, detergents, fertilisers and glass.

The company has been in discussions with a number of parties interested in the by-products, which could open the door to multiple revenue streams.

It has been looking at improving product recovery and reagent consumptions, work it expects would inform a pre-feasibility study (PFS) for a commercial plant for its project.

Anson hopes to determine how it can potentially incorporate product production in the design of an industrial scale in-field pilot plant underway at its project.

In March 2019, the company revealed it had achieved the deepest result of brine from its exploration program since it started.

The zone of heated and pressurised supersaturated brine was intersected at 6,318 feet.

A flow rate of 35 barrels per hour of heated brine was recorded from Long Canyon No 2 well and the well continued to flow consistently for 10 hours until the horizon was temporarily shut-in.

It is the second and final re-entry of an existing oil well to be carried out by Anson in the third exploration program at the Paradox project to sample brines.

The event took place during the company’s fourth re-entry drilling of Clastic 31 at the brine project.

Clastic 31 goes to depths of 7,080 feet at Paradox Basin, a similar depth to the 7,500-8,000-foot depth of the US’ only producing formation for bromine since 2007, the Southern Arkansas’ Upper Jurassic Smackover Formation.

The Southern Arkansas resource puts the US as the second largest producer of bromine after Israel.

The super-saturated Clastic 31 zone horizon averages lithium values of 500ppm, achieving up to 1,700ppm.

Anson’s portfolio includes other brine-bearing clastic zones — 7, 9, 13, 21, 25, 27 and 43 — with 17, 19 and 29 being super-saturated like 31.

Clastic zone 17 had lithium values of up to 339ppm in assaying.

The Chilean desert and the gas fields of Japan and the US state of Oklahoma supply most of the world’s iodine, with brines in Oklahoma and Japan extracting at similar depths to the Paradox brines, being between 6,000 and 10,000 feet.

In March 2019 Anson confirmed its brine from testing would be sampled for lithium, bromine, iodine and other minerals so it could used to help estimate a JORC resource.

This month, the company reported lithium in the brine had assayed at 253ppm.

Anson had previously beefed up its expertise, with lithium processing expert Alexander Grant joining the company as a technical advisor.

Grant also joined the company’s board as a non-executive director.

Anson had $2.9 million cash at the end of 2018 and expected about $1.5 million of expenses for the March quarter of 2019.

A $740,000 sum was budgeted for exploration and evaluation, with $250,000 for development.

Last week the company unveiled a $1.65 million, 27.5 million-share subscription commitment from strategic investor Chia Tai Xingye International as it launched a 6-cents-a-share securities purchase plan (SPP) as it hoped to raise $3 million in the June 2019 financial quarter.

Subscriptions are due to close on May 10, 2019.

Anson’s next quarterly reports are expected at the end of April 2019.

Inflection points

JORC resource estimates for minerals such as lithium, bromine and iodine at the project

In-field plant results and successes

Project financing milestones

Prefeasibility study commitment, launch and results

Further feasibility study commitments

Strategic partnerships, portfolio building, or offtake or production take agreements

Executive chairman & CEO Bruce Richardson highlights high brine recoveries

“We've just completed the fourth re-entry programs,” executive chairman and CEO Bruce Richardson told Proactive Investors from New York two weeks ago.

“We go down to existing oil wells and we look to perforate those casings and to obtain samples of brine from 6,500 feet below surface, so the fourth hole has just been completed at the end of last week, the assay results are currently pending — the samples have already been sent to lab — but given the results that we've seen at surface look very similar to what we've found before (it) gives us an indication that we're able to link the three existing holes, Cane Creek, Skyline and now Long Canyon No. 2 ... link those up and establish an area that we'll be able to work on.”

 

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Mon, 15 Apr 2019 18:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218536/anson-resources-prepares-lithium-carbonate-samples-for-qualification-testing-218536.html
<![CDATA[News - Anson Resources records up to 320% increase in flow rates from Paradox Brine Project in US ]]> https://www.proactiveinvestors.com.au/companies/news/218364/anson-resources-records-up-to-320-increase-in-flow-rates-from-paradox-brine-project-in-us-218364.html Anson Resources Ltd (ASX:ASN) has recorded increases of up to 320% in brine flow rates during additional testing of rates from recently completed exploration drilling at the Paradox Brine Project in Utah, USA.

The flow rate from Long Canyon No 2 well increased 320% to 112.5 barrels per hour, which is equivalent to a 2,700 barrel per day average with flow coming from an 18-foot interval from 6,318 feet.

Skyline Unit 1 well increased 100% to an hourly rate of 250 barrels, equivalent to a daily average of 6,000 barrels with flow from a 12-foot interval from 6,225 feet.

READ: Anson Resources assays 253ppm lithium in brine from Paradox project in US

The increase is due to the natural clean-up of the clastic horizon following the re-entry drilling and not to any break down of the zone.

Downhole geophysical surveys have been completed with data being analysed.

This will be used in the estimation of a JORC-compliant resource.

Flow parameters determined from the downhole geophysical surveys.

The flow rates were significantly higher than Anson found during the re-entry of Cane Creek 32-1 well.

This supports Anson’s theory that the fracturing by the geological structures in the central and southern area of Anson’s claims, particularly the Roberts Rupture, will assist with brine flow without the need for extraction pumping.

Anson said this factor was significant for project economics.

The Roberts Rupture structure, which is thought to provide natural fracturing of the host rock allowing the flow of fluids, is located striking through the eastern claims.

Anson’s western claims show areas of structures similar to that near Roberts Rupture.

Plan showing Anson’s Paradox Brine project area and recorded lithium grades.

The main brine zone, Clastic Zone 31, in the project area has not been cored, but has been adequately sampled and logged.

READ: Anson Resources’ US lithium project also prospective for bromine, boron and iodine

Long Canyon No 1 Sonic Log section through Clastic Zone 31.

Brine flows have been encountered in Clastic Zone 31 over six miles north-south and eight miles east-west, and it remains to be proved if brine is present and the zone is communicable over a much larger area.

READ: Anson Resources stakes vanadium claims in Utah ]]>
Thu, 11 Apr 2019 10:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218364/anson-resources-records-up-to-320-increase-in-flow-rates-from-paradox-brine-project-in-us-218364.html
<![CDATA[News - Anson Resources raising funds to support ongoing Paradox lithium carbonate testing ]]> https://www.proactiveinvestors.com.au/companies/news/218274/anson-resources-raising-funds-to-support-ongoing-paradox-lithium-carbonate-testing-218274.html Anson Resources Ltd (ASX:ASN) has completed exploration drilling at its Paradox Brine project in Utah, USA, and is now focusing on the production of lithium carbonate chemical samples for product qualification testing and for marketing to battery cathode manufacturers.

The production of lithium carbonate chemical samples is being managed by Anson’s recently appointed director and technical advisor Alexander Grant, who is co-founder of Anson’s lithium extraction partner, Lilac Solutions Inc.

Following the extraction of lithium in eluate form by Lilac, further downstream processing will be undertaken to produce lithium carbonate chemicals for the next phase — product qualification testing and for marketing to battery cathode manufacturers.

READ: Anson Resources stakes vanadium claims in Utah

The company has received a placement commitment of $1.65 million from strategic investor Chia Tai Xingye International of 27.5 million fully paid ordinary shares at an issue price of 6 cents per share.

Anson intends to offer shareholders the opportunity to increase their holdings in the company, on the same terms as the placement, through a share purchase plan to raise up to about $3 million via the issue of up to 50 million fully paid shares at an issue price of 6 cents per share.

The placement to Chia Tai Xingye International is a further commitment to the project and Tai Xingye International continues to express interest and provide further funding for the project.

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Wed, 10 Apr 2019 09:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218274/anson-resources-raising-funds-to-support-ongoing-paradox-lithium-carbonate-testing-218274.html
<![CDATA[News - Anson Resources welcomes Tino Kapfumo as company secretary and finance manager ]]> https://www.proactiveinvestors.com.au/companies/news/217930/anson-resources-welcomes-tino-kapfumo-as-company-secretary-and-finance-manager-217930.html Anson Resources (ASX:ASN) will welcome Tino Kapfumo as company secretary and finance manager due to the reorganisation of its board since the departure of company secretary and chief financial officer Kim Hogg.

Hogg provides similar services to several companies and with the increasing demands on the accounting, administration and company secretarial functions Anson has decided that permanent staff are required to perform those roles.

Kapfumo will assume the role of company secretary and finance manager on May 6, 2019, from an accounting firm with extensive audit, accounting and financial reporting experience.

READ: Anson Resources stakes vanadium claims in Utah

Anson non-executive director Michael Van Uffelen will act as interim company secretary and chief financial officer until Kapfumo joins Anson.

Uffelen formerly performed this role until December 31, 2017, which allows for a smooth transition.

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Thu, 04 Apr 2019 16:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217930/anson-resources-welcomes-tino-kapfumo-as-company-secretary-and-finance-manager-217930.html
<![CDATA[News - Anson Resources stakes vanadium claims in Utah ]]> https://www.proactiveinvestors.com.au/companies/news/217808/anson-resources-stakes-vanadium-claims-in-utah-217808.html Anson Resources Ltd (ASX:ASN) has staked 396 lode claims in the Yellow Cat Mining District in Utah.

Notably, assays sampled from the 3,307-hectare area staked graded up to 13.1% vanadium or 23.38 vanadium pentoxide.

Anson’s priority remains its Paradox Brine Project but the low-cost opportunity presented itself and the company seized it.

READ: Anson Resources assays 253ppm lithium in brine from Paradox project in US

Anson’s chairman and CEO Bruce Richardson said: “The identification and successful negotiation of the purchase of the vanadium claims are a result of the network of contacts that have been developed in the mining industry in Utah.

“While the focus of Anson remains on the development of its Paradox Brine Project and in particular the production of lithium carbonate, it remains interested in new opportunities and in adding to its portfolio of investment in minerals that well be in high demand as the new energy industry continues to develop.

“The Yellowcat Project presents an opportunity to expand the range of minerals that the company can supply, increasing shareholder value.

“The extremely high assay result of V2O5 in the samples that were taken are of particular interest and warrant an exploration program to measure the extent of the ore body.”

Due diligence sampling confirms vanadium and uranium

Production of uranium-vanadium ore in the district from 1935 to 1954 totalled about 42,000 short tons that averaged about 0.30% U3O8 and 1.80% V2O5.

During the due diligence on the project rock chip samples were collected and sent for assay at certified labs in both America and Australia.

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Wed, 03 Apr 2019 11:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217808/anson-resources-stakes-vanadium-claims-in-utah-217808.html
<![CDATA[News - Anson Resources assays 253ppm lithium in brine from Paradox project in US ]]> https://www.proactiveinvestors.com.au/companies/news/217587/anson-resources-assays-253ppm-lithium-in-brine-from-paradox-project-in-us-217587.html Anson Resources Ltd (ASX:ASN) is buoyed by a lithium grade of 253ppm returned from free-flowing brine intercepted in recent drilling at Long Canyon No 2 Well within the Paradox Brine Project in the US state of Utah.

This is about 148% higher than the lithium grade of brine from Anson’s Cane Creek 32-1 well which has been used in the Lilac Solutions’ IX test work to date.

READ: Anson Resources records its deepest flow of supersaturated brine from Paradox

The Long Canyon No 2 samples will be sent to Lilac for processing through a modular extraction plant it has constructed as part of detailed design and work for a pilot plant.

Results will assist in the final design of the plant, which Anson plans to build later this year.

Anson’s executive chairman and CEO Bruce Richardson said: “The successful re-entry at Long Canyon Unit 2 has provided Anson with valuable data that can be utilised in the estimation of a JORC resource.

“This is progressing at the same time as developing a pilot plant for the production of battery-grade lithium carbonate.”

Shares increase

Shares are up 7.25% to 7.4 cents.

Anson’s assay in this well is the first recorded lithium value and artesian flow east of Roberts Rupture, adding new knowledge of the geology of the area.

Assays of Anson's wells and other historical results in the Long Canyon area.

READ: Anson Resources’ US lithium project also prospective for bromine, boron and iodine

Assays of other minerals are progressing and once received work will begin on estimating a JORC resource incorporating Anson’s assays and historical results.

The high-grade assay from Clastic Zone 31 confirms Anson’s interpretation that the cross-cutting structures act as ‘traps’ and concentrate lithium in the central and southern areas of the project area.

Richardson said: “The higher grade at Long Canyon is particularly significant as this will assist further improving the economics of this project.”

READ: Anson Resources bolsters board with lithium processing expertise

Flow rates from the three wells support Anson’s theory that the fracturing by geological structures in the central and southern area of Anson’s claims will assist with brine flow without the need for extraction pumping.

Flow rates, pressures and temperatures at the wells.

In addition, free-flowing brines at Long Canyon were heavier and the flow was recorded at the deepest interval drilled by Anson to date, indicating higher concentrations of supersaturated minerals in the brine.

Downhole geophysical logging at Skyline Unit 1 well is underway to develop hydraulic parameters for the brine producing interval at these wells.

The information obtained will be used in the estimate of a JORC resource which is being fast-tracked.

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Mon, 01 Apr 2019 13:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217587/anson-resources-assays-253ppm-lithium-in-brine-from-paradox-project-in-us-217587.html
<![CDATA[Media files - Anson Resources CEO updates drilling at Paradox Brine Project in Utah ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12773/anson-resources-ceo-updates-drilling-at-paradox-brine-project-in-utah-12773.html Thu, 28 Mar 2019 13:41:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12773/anson-resources-ceo-updates-drilling-at-paradox-brine-project-in-utah-12773.html <![CDATA[News - Anson Resources’ US lithium project also prospective for bromine, boron and iodine ]]> https://www.proactiveinvestors.com.au/companies/news/217276/anson-resources-us-lithium-project-also-prospective-for-bromine-boron-and-iodine-217276.html Anson Resources Ltd (ASX:ASN) (FRA:9MY) specialises in brine-based minerals extraction exploration in the US. It is run by executive chairman and CEO Bruce Richardson, a corporate leader and former Australian trade commissioner who has more than 30 years experience on his CV.

Richardson has focused on the resources industry for eight years and was chief executive officer of Top Iron Pty Ltd and chairman of a government relations subcommittee for the WA Australia China Business Council. He was previously an Australian trade commissioner in China for 10 years.

What does Anson Resources own?

The key asset is the Paradox Lithium Project in the US state of Utah, near the Tesla Inc (NASDAQ:TSLA) (FRA:TL0) (ETR:TL0) (SWX:TSLA) gigafactory in Nevada.

The brines found in the Paradox Basin brines at the project are prospective for lithium, along with bromine, iodine and boron.

Paradox is positioned near vital transport infrastructure such as interstate highways and railways, as well as energy infrastructure such as gas and power lines.

Anson is assessing how to incorporate bromine and iodine recovery processes into an in-field pilot plant at the lithium brine project to add more to its value.

Hazen Research Inc has conducted bench-scale test work on boron, bromine and iodine from Paradox Basin brine extracted from the project, showing each high-value product can be successfully recovered from the brine using established technologies.

Bromine recovery was notably more than 90% while iodine recovery in excess of 70% during the testing.

The price for bromine was tracking up to US$4,500 a short ton last month after lower levels of US$3,500/ton were seen in the commodity cycle in 2015. Iodine was about US$26,500/ton in 2017.

The US is a major producer of both minerals.

Anson has also recently demonstrated that a five-stage extraction process can recover 89% of boric acid.

Boron in the form of borates are used in more than 300 applications with over 75% of world consumption used in ceramics, detergents, fertilisers and glass.

The company has been in discussions with a number of parties interested in the by-products, which could open the door to multiple revenue streams.

It has been looking at improving product recovery and reagent consumptions, work it expects would inform a pre-feasibility study (PFS) for a commercial plant for its project.

Anson hopes to determine how it can potentially incorporate product production in the design of an industrial scale in-field pilot plant underway at its project.

On Tuesday, the company revealed it had achieved the deepest result of brine from its exploration program since it started.

The zone of heated and pressurised supersaturated brine was intersected at 6,318 feet.

A flow rate of 35 barrels per hour of heated brine was recorded from Long Canyon No 2 well and the well continued to flow consistently for 10 hours until the horizon was temporarily shut-in.

It is the second and final re-entry of an existing oil well to be carried out by Anson in the third exploration program at the Paradox project to sample brines.

The event took place during the company’s fourth re-entry drilling of Clastic 31 at the brine project.

Clastic 31 goes to depths of 7,080 feet at Paradox Basin, a similar depth to the 7,500-8,000-foot depth of the US’ only producing formation for bromine since 2007, the Southern Arkansas’ Upper Jurassic Smackover Formation.

The Southern Arkansas resource puts the US as the second largest producer of bromine after Israel.

The super-saturated Clastic 31 zone horizon averages lithium values of 500ppm, achieving up to 1,700ppm.

Anson’s portfolio includes other brine-bearing clastic zones — 7, 9, 13, 21, 25, 27 and 43 — with 17, 19 and 29 being super-saturated like 31.

Clastic zone 17 had lithium values of up to 339ppm in assaying.

The Chilean desert and the gas fields of Japan and the US state of Oklahoma supply most of the world’s iodine, with brines in Oklahoma and Japan extracting at similar depths to the Paradox brines, being between 6,000 and 10,000 feet.

Anson’s latest brine from testing will be sampled for lithium, bromine, iodine and other minerals and will be used to help estimate a JORC resource.

The company has beefed up its expertise ahead of the estimate, with lithium processing expert Alexander Grant joining the company as a technical advisor in a move unveiled earlier this week.

Grant has also joined the company’s board as non-executive director.

The company had $2.9 million cash at the end of 2018 and expected about $1.5 million of cashflows for the March quarter of 2019.

A $740,000 sum was budgeted for exploration and evaluation, with $250,000 for development.

Anson’s next quarterly reports are expected at the end of April 2019.

Inflection points

Results from next assays for lithium, bromine, iodine and other minerals

JORC resource estimate for minerals such as lithium, bromine and iodine at the project

In-field plant results and successes

Project financing milestones

Prefeasibility study commitment, launch and results

Further feasibility study commitments

Strategic partnerships, portfolio building, or offtake or production take agreements

Executive chairman & CEO Bruce Richardson highlights high brine recoveries

“We’ve been able to get higher recoveries from the iodine and bromine, which is in the brine, together with the lithium at the Paradox Basin project,” executive chairman & CEO Bruce Richardson told Proactive Investors last month.

“We’ve known it’s been there for a while, we have assay results from decades back, plus we have our own assay results from last year … and what we’ve been doing for the past few months is to work out how to recover them the most economical way possible.

“Given that we’ve got 90% bromine recovery and 70% iodine recovery that all looks good as additional revenue streams for the Paradox brine project.”

 

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Tue, 26 Mar 2019 21:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217276/anson-resources-us-lithium-project-also-prospective-for-bromine-boron-and-iodine-217276.html
<![CDATA[News - Anson Resources bolsters board with lithium processing expertise ]]> https://www.proactiveinvestors.com.au/companies/news/217181/anson-resources-bolsters-board-with-lithium-processing-expertise-217181.html Anson Resources Ltd (ASX:ASN) has strengthened its board with lithium processing expertise by appointing Alexander Grant as a non-executive director and technical advisor.

As a co-founder of Lilac Solutions Inc, Grant co-invented different aspects of that company’s technology for lithium extraction from brines and led work on engineering scoping studies for lithium developers.

This work includes the invention of chemical process concepts that have the potential to make Lilac’s technology a strong candidate for low-cost lithium production.

Lithium chemical processing knowledge

His appointment provides Anson with unique knowledge of lithium chemical processing.

This comes at a key time for the company as it progresses development of an industrial-scale, in-field pilot plant utilising brine from the Paradox project in the US state of Utah.

Anson intends using the plant to extract lithium chemicals from the brine for product qualification testing by battery/cathode manufacturers.

Technical advisory services

Grant’s technical advisory services will include:

• Oversight of the design, engineering and operation of chemical processes of the pilot plant; and

• Optimising the chemical processing flow sheet.

The latter comes as Anson seeks to produce battery-grade lithium carbonate and assesses integrating the extraction of boron, bromine, and iodine chemicals and products into the pilot plant.

This will assist the company in discussions with prospective customers and is expected to provide input into future feasibility studies.

Grant holds engineering degrees from McGill and Northwestern universities.

READ: Anson Resources records its deepest flow of supersaturated brine from Paradox

Earlier today, Anson announced the successful fourth re-entry drilling of Clastic 31 at the Paradox project.

This resulted in a zone of heated and pressurised supersaturated brine being intersected at 6,318 feet in the Long Canyon No 2 well.

A flow rate of 35 barrels per hour of heated brine was recorded and the well continued to flow consistently for 10 hours until the horizon was temporarily shut-in.

The artesian flow of brine is the deepest result since the company began its exploration program.

Shares up 14%

Investors responded positively to today’s news with shares up almost 14% to an intra-day high of 7.4 cents.

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Tue, 26 Mar 2019 15:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217181/anson-resources-bolsters-board-with-lithium-processing-expertise-217181.html
<![CDATA[News - Anson Resources records its deepest flow of supersaturated brine from Paradox ]]> https://www.proactiveinvestors.com.au/companies/news/217169/anson-resources-records-its-deepest-flow-of-supersaturated-brine-from-paradox-217169.html Anson Resources Ltd (ASX:ASN) has had success in its fourth re-entry drilling of Clastic 31 at the Paradox Brine Project in Utah, USA, with a zone of heated and pressurised supersaturated brine intersected at 6,318 feet.

The artesian flow of brine from Long Canyon No 2 well is the deepest result since the company began its exploration program.

READ: Anson Resources well positioned to benefit from increasing lithium demand: Arrowhead

A flow rate of 35 barrels per hour of heated brine was recorded and the well continued to flow consistently for 10 hours until the horizon was temporarily shut-in.

Flow rates, pressures and temperatures at Anson's wells.

This is the second and final re-entry of an existing oil well to be carried out by Anson in the third exploration program at the Paradox project to sample brines.

Brine from Long Canyon No 2 will be assayed for lithium, bromine, iodine and other minerals and the company will also use data gained from its third stage exploration to estimate a JORC resource.

Pressurised brine flow

Anson said that the free-flowing brine intercepted provided further evidence to the theory that fracturing by the geological structures in the central and southern area of the project’s claims would assist with brine flow without the need for extraction pumping.

This was a significant factor for project economics, the company added.

READ: Anson Resources test work shows 89% boron recoveries

The flow rate at Long Canyon No 2 indicates that there is significant pressure within Clastic Zone 31, consistent with the flow experienced at the Skyline Unit 1 well.

Pressure at the latter has remained constant since it was re-opened, indicating that the well is continually replenished by an aquifer.

Long Canyon No 2 well in relation to the Long Canyon No 1, Skyline Unit 1 and Cane Creek 32-1 wells.

Anson added that the continual flow to surface was a significant development.

“The pressure required to bring supersaturated brine to surface is considered comparable to that recorded at the wells re-entered in our exploration programs and historical wells in the Long Canyon area,” the company stated.

In addition, information gathered during the drilling program is expected to assist in determining the preferred area from which to extract brine for future processing in an industrial scale in-field pilot plant.

This proposed plant is in the design and engineering stage.

READ: Anson Resources drilling of Long Canyon No 2 well on track

Long Canyon No 2 is only 900 metres southeast of Long Canyon 1 well, which had a historical lithium value of 500ppm and is only 500 metres east of Roberts Rupture.

It is also 2.86 kilometres southeast of the recently re-entered Skyline Unit 1 well which had a flow rate of 123 bbl/hour and a grade of 193.5ppm lithium.

Assay results from the Long Canyon No 2 samples are expected in early April.

A 400-barrel tank was also collected while carrying out on-site test work and will be used for continued test work on the brine.

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Tue, 26 Mar 2019 10:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217169/anson-resources-records-its-deepest-flow-of-supersaturated-brine-from-paradox-217169.html
<![CDATA[News - Anson Resources test work shows 89% boron recoveries ]]> https://www.proactiveinvestors.com.au/companies/news/216792/anson-resources-test-work-shows-89-boron-recoveries-216792.html Anson Resources Ltd (ASX:ASN) has received results from test work on the recovery of high-value minerals boron, bromine, and iodine from brine at its Paradox Brine Project in Utah.

The laboratory scale test work was performed on samples from clastic zone 29 and 43 collected by Anson during the re-entry drilling of Cane Creek 32-1 well in March and April 2018.

Experiments showed that a five-stage extraction process can recover 89% of boric acid.

READ: Anson Resources drilling of Long Canyon No. 2 well on track

Boron in the form of borates are used in more than 300 applications with over three-quarters of world consumption is used in ceramics, detergents, fertilizers, and glass.

It is used as a component in abrasives, cleaning products, insecticides, insulation, and in the production of semiconductors.

Proactive caught up with Anson’s managing director Bruce Richardson last week for an update.

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Wed, 20 Mar 2019 09:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216792/anson-resources-test-work-shows-89-boron-recoveries-216792.html
<![CDATA[News - Anson Resources drilling of Long Canyon No. 2 well on track ]]> https://www.proactiveinvestors.com.au/companies/news/216695/anson-resources-drilling-of-long-canyon-no-2-well-on-track-216695.html Anson Resources Ltd (ASX:ASN) has updated the market saying it is progressing smoothly with its re-entry of the Long Canyon No. 2 well at its Paradox Brine Project in Utah, US.

The company has removed the exploration tubing and tools that have been stuck in the well since its use in 1963.

Anson will commence sampling of the brines contained in the selected clastic zones of the well in the near future.

The location of the Long Canyon No. 2 well is only 900 metres south-east of the Long Canyon 1 well, which has a historical lithium value of 500ppm lithium.

The information obtained from the sampling program will be used to fast track the estimate of a JORC Resource.

READ: Anson Resources well positioned to benefit from increasing lithium demand: Arrowhead

Anson’s executive chairman and CEO Bruce Richardson said: “By bringing forward the re-entry program at the Long Canyon No. 2 well, Anson is seeking to fast track the determination of a JORC resource for Clastic Zone 31 where high pressure and high grades of lithium have been recorded.

“Due to the hard work of local contractors and members of the Anson team the road and pad at Long Canyon were re-established quickly, despite adverse weather conditions which provided the opportunity to bring the re-entry program at Long Canyon No. 2 forward.

“Finally, the successful extraction of exploration equipment stuck in the well since 1963 demonstrates the technical abilities of the team that Anson has put together in Utah and is contributing to the success that Anson is experiencing in its re-entry program, adding shareholder value.”

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Tue, 19 Mar 2019 09:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216695/anson-resources-drilling-of-long-canyon-no-2-well-on-track-216695.html
<![CDATA[Media files - Anson Resources sees promising lithium results and plant opportunities ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12610/anson-resources-sees-promising-lithium-results-and-plant-opportunities-12610.html Thu, 14 Mar 2019 20:18:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12610/anson-resources-sees-promising-lithium-results-and-plant-opportunities-12610.html <![CDATA[News - Anson Resources well positioned to benefit from increasing lithium demand: Arrowhead ]]> https://www.proactiveinvestors.com.au/companies/news/216350/anson-resources-well-positioned-to-benefit-from-increasing-lithium-demand-arrowhead-216350.html Anson Resources Ltd (ASX:ASN) is focused on the extraction of lithium from its Paradox Brine Project in the Paradox Basin, Utah, US.

The company recently intersected high-grade lithium brines from drilling at the Skyline Unit 1 well at Paradox.

Notably, the new assays include a lithium grade of 193.5 ppm which is 91% higher than the lithium grade of the Cane Creek 32-1 well brine used in test work to date.

READ: Anson Resources intersects lithium brines 91% higher than previous assays at US project

Arrowhead Business and Investment Decisions has updated its coverage on Anson with a fair value of 14 cents in the low bracket and 28 cents in the high bracket scenario (current share price: 7.4 cents).

Following is an extract from Arrowhead’s due diligence and valuation report on Anson:

Company Premiums

Potential Reserves: The addition of brine-bearing Clastic Zones to Anson’s portfolio has enhanced the company’s exploration potential. Horizons such as Clastic Zones 7, 9, 13, 21, 25, 27 and 43 are known to have brines.

Also, Clastic Zones 17, 19 and 29 were previously found to be super-saturated. Historically, Clastic Zone 17 has been assayed for lithium and lithium values of up to 339 ppm have been found.

The Clastic Zone 31 horizon has showed lithium values of up to 1,700 ppm, with an average of 500 ppm.

Strong Locational Advantage: The company’s key asset, the Paradox Brine Project, benefits from good infrastructure. It is located close to the market and the Tesla Gigafactory. The basin is well-connected through interstate highways and railways, along with gas and power lines.

Availability of Historical Data: There are some existing historical wells in the Paradox Basin. Apart from this, there is historic seismic data and local drill hole data available, which is a big advantage for Anson.

Experienced Management: The company has a good management team, which includes people with over 30 years of relevant and vast experience in the field of mining and exploration.

Part of a Growth Market: Since the company is into the extraction of lithium (a key input in battery manufacturing), the global shift towards cleaner energy and EVs is expected to boost demand from the battery market.

Further, China dominates EV manufacturing globally and Anson has already entered into MoUs with 3 Chinese companies - Link Data Technologies, Far East First New Energy and CBAK Power Battery for potential off-take agreements for the supply of lithium.

Thus, Anson is positioned well to benefit from the increasing lithium demand from tomorrow’s new energy and technology markets. Anson is, thus, poised to become a part of the battery supply chain in China.

Demand Drivers

The demand for lithium is increasing, given its growing importance in several 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 currently underdeveloped in comparison to other industrial commodities, with a few conglomerates controlling the market.

The supply of lithium is expected to be ramped up to meet the growing demand.

According to Deutsche Bank, the global lithium market will grow from 184,000 tonnes in 2015 to 535,000 tonnes LCE by 2025. The rise in demand will be driven by batteries for EVs and energy storage for wind and solar plants.

Increasing EV Penetration

Lithium is used in high-energy-density rechargeable lithium-ion batteries which power full-electric, plug-in hybrid and hybrid vehicles.

Due to the growth in EV technology, concerns over increased CO2 pollution and rising fuel costs from combustion engines, lithium has witnessed widespread use in EV batteries.

This market is primarily driven by the mass uptake of EV technology in China, where government subsidies are in place for both passenger EVs and commercial EVs (buses and small trucks).

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Thu, 14 Mar 2019 08:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216350/anson-resources-well-positioned-to-benefit-from-increasing-lithium-demand-arrowhead-216350.html
<![CDATA[News - Anson Resources intersects lithium brines 91% higher than previous assays at US project ]]> https://www.proactiveinvestors.com.au/companies/news/216137/anson-resources-intersects-lithium-brines-91-higher-than-previous-assays-at-us-project-216137.html Anson Resources Ltd (ASX:ASN) has intersected high-grade lithium brines in recent drilling at the Skyline Unit 1 well at its Paradox Brine Project in the US state of Utah.

The new assays include a lithium grade of 193.5 ppm which is 91% higher than the lithium grade of the Cane Creek 32-1 well brine used in test work to date.

Flow rates at Skyline were substantially higher than seen during the re-entry of Cane Creek 32-1, supporting Anson’s theory that the fracturing by the geological structures will assist with brine flow without the need for extraction pumping.

High concentrations of bromine and iodine were also found and are comparable to brines sampled from historic oil wells in the Long Canyon region.

 

Anson executive chairman Bruce Richardson said: “The successful re-entry of the Skyline Unit 2 well is a further step forward in establishing a JORC a resource and fast-tracking the Paradox Brine Project into production.

“The increase in grade and the higher flow rate at Skyline are expected to have a significant positive impact upon the economics of the Paradox Brine Project.

“These improvements as well as the continued high concentrations of iodine and bromine which are further potential contributors to the economics of the project will be considered in the PFS which will be conducted later this year.”

READ: Anson Resources granted extended rights for Paradox project lease

The higher grade lithium assays and higher flow rates confirm Anson’s interpretation that Roberts Rapture and the cross-cutting structures act as ‘traps’ and concentrate lithium in the central and southern project areas.

These structures, which continue to increase in frequency to the south, are geologically interpreted to be causing high pressure resulting in the artesian flow of brine to surface.

Due to the high flow rates, Anson decided to carry out down-hole geophysical logging to develop hydraulic parameters for the brine-producing interval before proceeding to sample other clastic zones at the Skyline well.

Skyline Unit 1 and Cane Creek 32-1 assays with historic results from the Long Canyon area

 

READ: Anson Resources intersects strong brine flow at Skyline well in Utah

Richardson continued: “For some time, Anson has considered that the lithium grade will improve as our exploration program gets closer to the high-grade historic assay results that were recorded at Long Canyon No 1, and it is pleasing that this theory is proving correct.

“This theory will be further rested at Long Canyon No 2 well where a re-entry program has already commenced.”

Next steps

Ongoing test work includes:

Temperature;

pH;

Dissolved oxygen;

Reduction-oxidation potential;

Specific electrical conductance; and

Total dissolved solids.

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Sun, 10 Mar 2019 21:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216137/anson-resources-intersects-lithium-brines-91-higher-than-previous-assays-at-us-project-216137.html
<![CDATA[News - Anson Resources granted extended rights for Paradox Project lease ]]> https://www.proactiveinvestors.com.au/companies/news/215764/anson-resources-granted-extended-rights-for-paradox-project-lease-215764.html Anson Resources Ltd (ASX:ASN) has signed a lease for the rights to process any other minerals to which Anson has rights in areas nearby to the leased area.

The lease covers an area of 640 acres and is for a 10 year period with possible extensions subject to determination by SITLA.

Minerals from the 1,317 claims that make up the Paradox Brine Project can now be processed on 640 acres covered by the SITLA lease.

During November 2018, Anson outlined that it had been granted a Minerals Salts lease by SITLA and that a location for the pilot plant had been selected.

READ: Anson Resources finalises location of pilot plant for Paradox Lithium Project

The SITLA leased area is now being considered by Anson as a possible location of not only the industrial-scale pilot plant but also for the full-scale production plant.

Infrastructure continues being installed at Paradox

Anson has completed the connection of the existing underground piping infrastructure to the recently installed storage tanks.

Existing infrastructure which is being used enables Anson to continue with its plans to fast-track the project into production while minimising investment costs.

READ: Anson Resources intersects strong brine flow at Skyline well in Utah

Last week, Anson intersected a zone of heated and pressurised supersaturated brine resulting in artesian flow at the Skyline well within the Paradox Brine Project.

The free flow of the brine from 6,220 feet below surface continued for 6 hours until the horizon was temporarily shut-in.

Samples collected will be sent to a certified laboratory in Texas for assaying for lithium, iodine, bromine, boron and other minerals.

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Tue, 05 Mar 2019 13:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215764/anson-resources-granted-extended-rights-for-paradox-project-lease-215764.html
<![CDATA[News - Anson Resources intersects strong brine flow at Skyline well in Utah ]]> https://www.proactiveinvestors.com.au/companies/news/215368/anson-resources-intersects-strong-brine-flow-at-skyline-well-in-utah-215368.html Anson Resources Ltd’s (ASX:ASN) drilling has intersected a zone of heated and pressurised supersaturated brine resulting in artesian flow at the Skyline well within the Paradox Brine Project in Utah, USA.

The free flow of the brine from 6,220 feet below surface continued for 6 hours until the horizon was temporarily shut-in.

Supersaturated brine free flowing directly from the Skyline well to a storage tank

The flow rate had continued to increase with time until all the onsite storage tanks were filled. The brine will be assayed for lithium, bromine, iodine and other minerals.

In addition, data gained during this drilling program will be used in the future estimation of a JORC resource.

The flow of the supersaturated brine to surface from 6,220 feet without pumping indicates that there is significant pressure within the clastic zone, consistent with the flow experienced by Anson at the Cane Creek 32-1 well, where the pressure has remained constant since the well was re-opened.

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

The flow to surface is also comparable to that recorded at the nearby Long Canyon No 1 well which has a historical grade of 500 ppm lithium.

 

Bulk samples were collected in containers while the flow testing was being carried out and stored on site for further test work, following the protocols produced by SRK for lithium brine sampling.

Samples collected will be sent to a certified laboratory in Texas, experienced in oil field brines, for assaying for lithium, iodine, bromine, boron and other minerals, with results expected towards the end of March 2019.

Collecting the brine direct from well to determine the weight

Following the successful re-entry drilling at Cane Creek 32-1 well in 2018, Anson is continuing its exploration program in the southern area of its Paradox Brine Project, where historical high-grade lithium assays were recorded in the 1960’s.

This is the third re-entry of an existing oil well carried out at Paradox to sample brines from numerous clastic zone layers and is part of the work that Anson is conducting to estimate a JORC resource.

In addition, information expected to be gathered during this drilling program will assist in determining the preferred area from which to extract brine for future processing in the industrial scale in-field pilot plant which is currently in design and engineering stage.

READ: Anson Resources achieves high bromine and iodine recoveries from Paradox

Leaving the well open will enable the brine to be collected in the storage tanks recently installed on the site of the pilot plant.

Once the pilot plant is operating, samples will also 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 off-take partners and/or battery manufacturers for analysis as the next step towards commercial off-take agreements.

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Wed, 27 Feb 2019 12:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215368/anson-resources-intersects-strong-brine-flow-at-skyline-well-in-utah-215368.html
<![CDATA[Media files - Anson Resources adding value to Paradox Lithium Brine Project with bromine & iodine ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12322/anson-resources-adding-value-to-paradox-lithium-brine-project-with-bromine--iodine-12322.html Fri, 22 Feb 2019 14:23:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12322/anson-resources-adding-value-to-paradox-lithium-brine-project-with-bromine--iodine-12322.html <![CDATA[News - Anson Resources achieves high bromine and iodine recoveries from Paradox ]]> https://www.proactiveinvestors.com.au/companies/news/215003/anson-resources-achieves-high-bromine-and-iodine-recoveries-from-paradox-215003.html Anson Resources Ltd (ASX:ASN) has achieved bromine recovery in excess of 90% and iodine recovery in excess of 70% from laboratory test work on samples from the Paradox Brine Project in Utah, USA.

Hazen Research Inc was engaged by the company to conduct bench-scale test work on the potential to recover high-volume minerals boron, bromine and iodine from brine at the project.

READ: Anson Resources commences drilling for brine in old oil well

Base case testing demonstrated that each product can be successfully recovered from the brine using established technologies.

The company has started discussions with interested parties in these products, which have the potential to enable multiple revenue streams from processing Paradox Basin brine.

Boron recovery test work is continuing, as is optimisation test work to improve product recovery and reagent consumptions with the aim of informing a PFS for a commercial plant.

READ: Anson Resources begins building drill pad for third well, JORC on track

The US is the second largest producer of bromine after Israel, supplying about 30% of the world market.

Since 2007 all bromine production in the US has been at Southern Arkansas’ Upper Jurassic Smackover Formation which contains the highest grade of bromine (5,000 to 6,000 ppm) at a depth of 7,500 to 8,000 feet.

This depth is similar to that of Clastic 31 in the Paradox Basin at 7,080 feet.

 

 

The laboratory scale test work was performed on samples from clastic zone 29 and 43 collected by Anson during the re-entry drilling of Cane Creek 21-1 well in March and April 2018.

Bromine recovery experiments were carried out using pre-test brine samples and were performed in a resin kettle equipped with an overhead mixer, where chlorine was supplied to the reactor via a fritted glass bubbler.

 

 

Earlier this month Anson commenced re-entry drilling of the Skyline Unit 1 well at the Paradox Brine Project which is set to target a depth of 7,000 feet to sample brine from 5 separate underground clastic zones.

Brine from 5 clastic zones will be assayed for lithium, iodine, bromine, boron and other minerals.

 

 

The company is now assessing how to incorporate product production in the design of the industrial scale in-filed pilot plant.

- Jessica Cummins

 

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Wed, 20 Feb 2019 21:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215003/anson-resources-achieves-high-bromine-and-iodine-recoveries-from-paradox-215003.html
<![CDATA[News - Anson Resources commences drilling for brine in old oil well ]]> https://www.proactiveinvestors.com.au/companies/news/214756/anson-resources-commences-drilling-for-brine-in-old-oil-well-214756.html Anson Resources Ltd (ASX:ASN) has commenced re-entry drilling of the Skyline Unit 1 well at its Paradox Brine Project in the US state of Nevada.

The target drill depth will be 7,000 feet (2,133 metres) to sample brine from 5 separate underground clastic zones.

Brine from 5 clastic zones is to be assayed for lithium, iodine, bromine, boron and other minerals.

READ: Anson Resources begins building drill pad for third well, JORC on track

Following the successful re-entry drilling at Cane Creek 32-1 oil well in 2018, Anson is continuing its exploration program in the southern area of Anson’s Paradox Brine Project.

Historical high-grade lithium assays were recorded in the southern area in the 1960s.

The drilling program has been permitted to include entry into two old oil wells, Skyline Unit 1 and Long Canyon No 2.

Data obtained from the drilling will be used in the estimation of a JORC resource, which remains on track, and the brine will be assayed and used for ongoing metallurgical test work.

The two wells are also close to the Long Canyon No1 and Whitecloud No2 well which contain recorded lithium values of 500ppm and 1700ppm.

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Mon, 18 Feb 2019 11:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214756/anson-resources-commences-drilling-for-brine-in-old-oil-well-214756.html
<![CDATA[News - Anson Resources begins building drill pad for third well, JORC on track ]]> https://www.proactiveinvestors.com.au/companies/news/214128/anson-resources-begins-building-drill-pad-for-third-well-jorc-on-track-214128.html Anson Resources Ltd (ASX:ASN) has commenced the construction of the drill pad for re-entry of the historical Skyline Unit 1 oil well within the Paradox Lithium Project in Utah, US.

Roadworks that commenced earlier this week have allowed access to the drilling site for earth moving equipment.

This is the third re-entry of an existing oil well by Anson at the project to sample brines and is part of work that Anson is conducting to determine a JORC resource.

JORC resource on track

The drilling program has been permitted to include entry into two old oil wells, Skyline Unit 1 and Long Canyon No 2.

Data obtained from the drilling will be used in the estimation of a JORC resource, which remains on track, and the brine will be assayed and used for ongoing metallurgical test work.

The two wells are also close to the Long Canyon No1 and Whitecloud No2 well which contain recorded lithium values of 500ppm and 1700ppm.

READ: Anson Resources installs brine holding tanks for pilot plant at Paradox Lithium Project

Anson is also continuing to progress the in-field pilot plant development at its Paradox Lithium Project.

The pilot plant for the Paradox project is being built on an existing well pad, Cane Creek 32-1, which will reduce infrastructure development, time and costs.

Proactive Investors spoke to managing director Bruce Richardson in November 2018 about the site chosen for the pilot plant along with other project updates.

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Thu, 07 Feb 2019 10:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214128/anson-resources-begins-building-drill-pad-for-third-well-jorc-on-track-214128.html
<![CDATA[News - Anson Resources begins roadworks to access drill pad at US lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/214038/anson-resources-begins-roadworks-to-access-drill-pad-at-us-lithium-project-214038.html Anson Resources Ltd (ASX:ASN) is undertaking roadworks to access a drilling site for re-entry drilling of the Skyline Unit 1 well at its Paradox Lithium Project in the US state of Utah.

These works involve ramping down of an existing oil well pad and upgrading an access road to enable the drilling rig and associated drilling equipment to be mobilised to site.

Ramping down the oil well pad.

JORC resource on track

The drilling program has been permitted to include entry into two old oil wells, Skyline Unit 1 and Long Canyon No 2.

Data obtained from the drilling will be used in the estimation of a JORC resource, which remains on track, and the brine will be assayed and used for ongoing metallurgical test work.

READ: Anson Resources preparing to commence re-entry of oil wells

Anson managing director Bruce Richardson said: “The new re-entry targets are closer to the higher historical grades and main geological features which provides confidence in the outcomes that will be achieved.

“The exploration program is expected to be completed in Q1 2019.”

These targets have been prioritised based on proximity to the Roberts Rupture major geological structure, the Cane Creek Anticline and cross-cutting structures in the area.

Lithium values of 500ppm and 1700ppm

The two wells are also close to the Long Canyon No1 and Whitecloud No2 well which contain recorded lithium values of 500ppm and 1700ppm.

Test work for the suitability of a lilac solutions process to extract lithium from the brine at the project has been underway since July 2018.

The process uses a newly developed technology that extracts only the lithium from the brine using an adsorption methodology.

READ: Anson Resources installs brine holding tanks for pilot plant at Paradox Lithium Project

The company is also progressing the in-field pilot plant development, which is being built on an existing well pad, Cane Creek 32-1, with supporting infrastructure being built in parallel with the design and engineering of the plant.

This will reduce infrastructure development, time and costs as the drill pads require minimal work due to past rehabilitation work.

A key step is the commissioning of tanks which can hold a capacity of 400 barrels (63,595 litres) and will be used to feed brine to the pilot plant to ensure a continuous supply of raw brine.   

- Jessica Cummins

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Tue, 05 Feb 2019 19:59:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214038/anson-resources-begins-roadworks-to-access-drill-pad-at-us-lithium-project-214038.html
<![CDATA[News - Anson Resources installs brine holding tanks for pilot plant at Paradox Lithium Project ]]> https://www.proactiveinvestors.com.au/companies/news/213857/anson-resources-installs-brine-holding-tanks-for-pilot-plant-at-paradox-lithium-project-213857.html Anson Resources Ltd (ASX:ASN) is continuing to progress the in-field pilot plant development at its Paradox Lithium Project in Utah, US.

The pilot plant for the Paradox project is being built on an existing well pad, Cane Creek 32-1, which will reduce infrastructure development, time and costs.

Infrastructure construction progress

Supporting infrastructure is being built in parallel with the design and engineering of the pilot plant, and a key step is the commissioning of tanks to hold brine extracted from the Cane Creek 32-1 well for use in the in-field pilot plant.

Brine holding tanks being delivered and installed

Each tank has a capacity of 400 barrels (63,595 litres) and will be used to feed brine to the pilot plant to ensure a continuous, uninterrupted supply of raw brine.

Anson has been able to re-use the bunded area that was used during oil production and will use existing underground piping between the wellhead, storage tanks and waste tanks that were also used during oil production.

This will result in a significant saving in infrastructure development costs and time as the company continues to fast track the project to production.

Further infrastructure development work will be undertaken over the coming months to establish the in-field pilot plant at the Cane Creek 32-1 well site.

Design and Engineering

Hatch and Lilac Solutions are advancing with the design and engineering of the in-field pilot plant.

Hatch is designing the pre-treatment and is working closely with Hazen on the test work being conducted for the extraction of iodine and bromine which are being considered as part of the pre-treatment process.

Lilac is responsible for its proprietary ion exchange process that extracts the lithium from the brine.

Hatch is also working on the design of the process to produce battery-grade lithium carbonate/hydroxide during the operation of the pilot plant.

The conceptual flow sheet of the in-field pilot plant

The in-field pilot plant is one of the steps in progressing to a pre-feasibility study, and to produce lithium carbonate (Li2CO3) and/or lithium hydroxide (LiOH) samples for testing by prospective offtake partners.

Process Refinement Test Work

Hazen’s pre-treatment test work is continuing. The results will be used by Hatch in the pilot plant design and engineering of the brine pre-treat stage prior to the brine being processed in Lilac’s Ion Exchange.

Hazen is continuing to optimize the by-product removal sections in parallel to the pilot plant engineering, targeting the recovery of iodine, boron and bromine products.

The test work is expected to be completed in the next few weeks.

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Mon, 04 Feb 2019 14:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213857/anson-resources-installs-brine-holding-tanks-for-pilot-plant-at-paradox-lithium-project-213857.html
<![CDATA[News - Anson Resources preparing to commence re-entry of oil wells ]]> https://www.proactiveinvestors.com.au/companies/news/212549/anson-resources-preparing-to-commence-re-entry-of-oil-wells-212549.html Anson Resources Ltd (ASX:ASN) is preparing to re-enter two historical oil wells early in 2019 after receiving approval to do so late last year.

The two wells, Skyline Unit 1 and Long Canyon No 2 are expected to provide data that will be used in the estimate of a JORC resource at the Paradox Lithium Brine Project in Utah.

The planned location of the lithium pilot plant has also been completed and the design and construction of the pilot plant has commenced.

READ: Anson Resources receives permit to re-enter two oil wells

Test work underway since July 2018

Anson has also been testing the suitability of a lilac solutions process to extract lithium from the brine at the Paradox Lithium Project.

The process uses a newly developed technology that extracts only the lithium from the brine using an adsorption methodology.

Test work on the Paradox Lithium Brine has been underway since July 2018.

Other minerals including boron, bromide, iodine and magnesium are not recovered using this process.

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Tue, 15 Jan 2019 14:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212549/anson-resources-preparing-to-commence-re-entry-of-oil-wells-212549.html
<![CDATA[News - Anson Resources receives permit to re-enter two oil wells ]]> https://www.proactiveinvestors.com.au/companies/news/211192/anson-resources-receives-permit-to-re-enter-two-oil-wells-211192.html Anson Resources Ltd (ASX:ASN) has received approval for the re-entry drilling of two historical oil wells within its Paradox Lithium Project in Utah, US.

The re-entry of these oil wells is planned to commence early in the new year, prior to which preparatory earthworks will be undertaken to prepare access to the drill sites.

The data obtained from this drilling program will be used by SRK Consulting in the estimation of a maiden JORC Resource, the timing of which remains on track.

READ: Anson Resources finalises location of pilot plant for Paradox Lithium Project

Anson is fast-tracking the development of its flagship 108-square kilometre Paradox Lithium Brine Project.

The project sits on Roberts Rupture within the Paradox Basin, where lithium concentrations of up to 1,700 ppm have been discovered.

These grades are comparable to the highest known lithium brine grades in the world.

Notably, an exploration target exists for the project of 85-170 million tonnes grading 100-500 ppm lithium.

In addition, test work completed to date has already successfully produced lithium carbonate and lithium hydroxide products.

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Fri, 14 Dec 2018 12:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211192/anson-resources-receives-permit-to-re-enter-two-oil-wells-211192.html
<![CDATA[Media files - Anson Resources MD talks pilot plant, test work outcomes, and project exploration ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11282/anson-resources-md-talks-pilot-plant-test-work-outcomes-and-project-exploration-11282.html Thu, 22 Nov 2018 11:09:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11282/anson-resources-md-talks-pilot-plant-test-work-outcomes-and-project-exploration-11282.html <![CDATA[News - Anson Resources finalises location of pilot plant for Paradox Lithium Project ]]> https://www.proactiveinvestors.com.au/companies/news/209409/anson-resources-finalises-location-of-pilot-plant-for-paradox-lithium-project-209409.html Anson Resources Ltd (ASX:ASN) will locate a pilot plant for the Paradox Lithium Project in the US state of Utah on an existing well pad, which will reduce infrastructure development, time and costs.

A pilot plant at the Cane Creek 32-1 well site will incorporate Lilac Solutions’ ion exchange process to extract lithium without the use of evaporation ponds.

The design and construction process for the plant has commenced.

READ: Anson Resources shares rise after achieving high lithium recoveries from brine in the US

Anson’s managing director Bruce Richardson said: “Finalising the location of the pilot plant is a further step to fast-tracking the production of lithium products for testing by prospective offtake partners and progressing towards a pre-feasibility study.

“Locating the pilot plant at the Cane Creek 32-1 pad takes advantage of existing infrastructure, providing cost advantages for the Paradox Lithium Project.

“Strategic location”

“Strategically located in the centre of the project claims with artesian brine flow from an existing well, road access, power and with an existing construction ready pad, the company has been successful in obtaining approval for the location of the pilot plant.

“This has been done in a comparatively short timeframe, demonstrating the company’s committed objective of bringing the project into production quickly while maintaining a focus on cost minimisation,” he said.

Shares were up 9% to 9.9 cents in early trade.

READ: Anson Resources lodges re-entry application for two wells at Paradox Lithium Project

Finalising the location follows granting of State leases for Oil, Gas and Hydrocarbons (480 acres) and Mineral Salts and Potash Salts (640 acres) covering the Cane Creek 32-1 pad area.

These were granted by the State of Utah School and Institutional Trust Lands Administration (SITLA).

Anson was able to apply for the mineral salts lease because of the earlier purchase of the oil and gas lease.

Plan showing the SITLA leases and the Cane Creek 32-1 pad.

The granting of the lithium and salt lease is significant as it not only allows Anson to produce salts of lithium, boron, bromine, iodine, magnesium, sodium and calcium as well as potassium salts but also enables it to build a pilot plant on the existing oil well pad.

Construction-ready pad

This will save valuable time in advancing the project while significant costs will be also saved by utilising the existing well pad which is construction-ready.

The fenced Cane Creek 32-1 well pad covers an area of 10.6 acres, which is considered more than adequate for the planned pilot plant.

READ: Anson Resources makes appointments to address skills gap in board

In-situ buildings can be erected to contain the pilot plant equipment, which will allow the heated free flowing brine to run directly to the pilot plant, another cost-saving feature.

This strategically important oil and gas lease contains the Cane Creek 32-1 oil well where artesian flow of brine occurred during the recent sampling program.

Oil and gas possible energy source

Owning the lease enables Anson to extract the oil and gas which could possibly be used in future production processing, providing a low-cost source of energy for on-site power generation.

Oil and gas have previously been produced from the Cane Creek 32-1 well and it is possible to extract oil and gas and lithium brine from the same well from different clastic zones using separate tubing.

Cognisant of this opportunity with the granting of the oil and gas lease when determining the location of the pilot plant, the company has maintained the integrity of the oil and gas production facilities for possible future use.

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Mon, 19 Nov 2018 11:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209409/anson-resources-finalises-location-of-pilot-plant-for-paradox-lithium-project-209409.html
<![CDATA[News - Anson Resources shares rise after achieving high lithium recoveries from brine in the US ]]> https://www.proactiveinvestors.com.au/companies/news/209140/anson-resources-shares-rise-after-achieving-high-lithium-recoveries-from-brine-in-the-us-209140.html Anson Resources Ltd (ASX:ASN) has revealed that the brine from the Paradox Lithium Project in Utah is continuing to successfully produce a lithium hydroxide (LiOH) product, but with much higher recovery rates than previously reported.

READ: Anson Resources shares surge on producing first lithium hydroxide product

The company’s shares are trading about 19% higher intra-day following new results from the test work being carried out by Lilac Solutions, using the Lilac IX process for the extraction of lithium from brines.

The improved lithium recoveries are a further step forward in determining the final extraction process to be implemented to produce either lithium carbonate or lithium hydroxide using the Lilac IX process.

In the latest testing, supersaturated brine was passed through the Lilac IX process to produce a concentrated lithium sulphate solution at 10,000 – 15,000 mg/l lithium.

Lilac Solutions phase I proposed extraction flow sheet

The average recovery of lithium from the brine to the eluate was about 80%, a significant improvement to that of the original lithium hydroxide product.

The lithium eluate can be processed downstream into battery grade lithium carbonate or lithium hydroxide using conventional processes with a recovery of greater than 90%.

After the downstream processing, it is estimated that the overall lithium recovery (that is, after the extraction and downstream processing) will be about 70%.

This compares favourably with lithium recoveries below 50% for conventional operations in the South American Salars with higher grades.

Lilac Solutions’ test laboratory being visited by Anson’s CEO

Anson has now completed the evaluation of three separate technical processes for the extraction of lithium from brines at the Paradox Lithium Project:

(i) Traditional solar evaporation;
(ii) Outotec’s solvent extraction; and
(iii) Lilac’s ion extraction process.

Based upon the results, Anson has resolved to move to the next stage of project development by commissioning the design and construction of a pilot plant incorporating the production flow chart developed by Lilac Solutions’ phase I engineering project.

READ: Anson Resources lodges re-entry application for two wells at Paradox Lithium Project

Anson executive chairman Bruce Richardson said: “The results that have been achieved by the Lilac Process have been exceptional.

“To ensure that the best economic results could be achieved several different extraction methodologies have been tested.

“As an early adopter of the Lilac process, the company will gain a significant advantage over traditional brine producers by utilising a new technology that provides an improved recovery rate, a faster production process with less environmental impact and as a result improved economics.”

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Wed, 14 Nov 2018 12:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209140/anson-resources-shares-rise-after-achieving-high-lithium-recoveries-from-brine-in-the-us-209140.html
<![CDATA[News - Anson Resources lodges re-entry application for two wells at Paradox Lithium Project ]]> https://www.proactiveinvestors.com.au/companies/news/208973/anson-resources-lodges-re-entry-application-for-two-wells-at-paradox-lithium-project-208973.html Anson Resources Ltd (ASX:ASN) has lodged an application to re-enter two existing wells at the Paradox Lithium Project in the US state of Utah as it aims to estimate JORC-compliant lithium resources.

A Notice of Intent (NOI) application has been submitted by wholly-owned Utah-based subsidiary A1 Lithium to the Bureau of Land Management (BLM).

It covers the Skyline Unit 1 and Long Canyon No2 wells and drilling can begin immediately after the NOI is approved, which is expected later this quarter.

Another step on estimate ‘fast-track’

Anson’s managing director Bruce Richardson said, “The submission of the NOI for these two wells, which were only staked by the company in September, is another step in fast-tracking the Paradox project into JORC resource estimation as the company progresses to a PFS.”

Plan showing the proposed drill sites.

These targets have been prioritised based on proximity to the Roberts Rupture major geological structure, the Cane Creek Anticline and cross-cutting structures in the area.

Robert’s Rupture is considered to demonstrate the extensive fracturing resulting in the formation of brine traps concentrating minerals, including lithium.

It is also a contributor to the artesian flow of the lithium-rich brine to the surface.

READ: Anson Resources lifts Paradox lithium exploration target 30% after staking new claims

The two wells are also close to the Long Canyon No1 and the White Cloud No2 wells which contain recorded lithium values of 500ppm and 1700ppm respectively.

Proposed re-entry drill hole co-ordinates.

Skyline Unit 1 well drill site is 1.4 kilometres south of the Cane Creek 32-1 well and west of Robert’s Rupture while Long Canyon No2 site is about 800 metres southeast of the Long Canyon No1 site.

Anson said that the two re-entry wells would be perforated and sampled at Clastic Zones 17, 19, 29, 31 and 33 for lithium and other mineral concentrations.

Measurements would be taken for flow rates, pressure and temperature, if practical.

READ: Anson Resources aims to re-enter three wells as part of fast-track lithium strategy

SRK confirmed in its Gap Analysis report that these five horizons should be initially targeted.

Richardson said: “SRK has confirmed that the company is on the correct pathway to achieving a JORC resource estimation.

Re-entry costs much lower

“Although there has been a short delay with the exploration program, while new re-entry targets have been secured, the timetable for completing a JORC resource estimate has been significantly reduced, as has the projected cost, as re-entry costs are much lower than new drilling.

“In addition, the new re-entry targets are closer to the higher historical grades and main geological features which provides confidence in the outcomes that will be achieved.

“This exploration drilling program is expected to be completed in Q1 2019.”

READ: Anson Resources shares surge on producing first lithium hydroxide product

Anson’s first vial of lithium hydroxide product.

Additional horizons can be sampled at the time of drilling, based on new geophysical logs obtained prior to perforating the collar pipe.

Research has shown that when drilling the Skyline Unit 1 well there was flow of brine from some clastic horizons noted.

These flows probably correlate with flows recorded from the Long Canyon No1 and White Cloud No2 wells.

Archaeological, environmental and site surveys carried out over the proposed areas have indicated that there are no issues that will affect the drilling timetable.

Access via existing roads

Access to the wells is via existing roads which pass through the claims.

The county roads are well-maintained while tracks will only need minor upgrading, thereby enabling an exploration program to begin once government approvals have been granted.

The Long Canyon No2 drill pad site.

Drill pads of the selected wells will only require minimal work as little rehabilitation has been previously carried out.

READ: Anson Resources makes appointments to address skills gap in board

At a later date, Anson also plans to drill the Matthew Fed 1, Matthew Fed 2, Coors USA and Big Flat Unit 7 wells.

Future proposed re-entry drill holes.

These additional holes are expected to result in an immediate increase in the size of the JORC resource.

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Mon, 12 Nov 2018 14:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208973/anson-resources-lodges-re-entry-application-for-two-wells-at-paradox-lithium-project-208973.html
<![CDATA[News - Anson Resources makes appointments to address skills gap in board ]]> https://www.proactiveinvestors.com.au/companies/news/207427/anson-resources-makes-appointments-to-address-skills-gap-in-board-207427.html Anson Resources Ltd (ASX:ASN) has strengthened the skills base of its board with two key appointments following the recent unfortunate passing of former chairman Bruce MacLeod.

Michael van Uffelen has been appointed a non-executive director while company founder and managing director Bruce Richardson has been appointed executive chairman and chief executive officer.

Passing of former chairman left skills gap

The passing of Bruce MacLeod left a skills gap at the board level and the company believes the appointments will address the gap.

Van Uffelen is an experienced director, CFO and company secretary actively engaged in managing companies.

30 years’ experience

He holds a Bachelor of Commerce degree from the University of Western Australia and is a Chartered Accountant with more than 30 years’ experience gained with major accounting firms, investment banks and public companies.

Van Uffelen was formerly the company secretary and CFO of Anson and is very familiar with the company’s activities and ambitions, particularly the Paradox Lithium Project in Utah, USA.

READ: Anson Resources shares surge on producing first lithium hydroxide product

The company recently produced its first lithium hydroxide product from the Paradox project.

This was produced during precipitation test work carried out by Lilac Solutions on a 1000-litre bulk sample extracted from the free-flowing Cane Creek 32-1 well.

Lithium carbonate and lithium hydroxide have now been successfully produced from Cane Creek brine using the Lilac process.

Anson is examining different production processes to assess the best recovery and purity results from the Cane Creek brines, which will also provide the best financial returns.

READ: Anson Resources lifts Paradox lithium exploration target 30% after staking new claims

The estimated lithium brine exploration target for Paradox was also recently increased by 30% due to the staking of additional claims in the area by Anson’s Utah-based subsidiary A1 Lithium.

This target is now between 85 million and 171 million tonnes of brine using an estimated grade of 140 to 500 ppm lithium.

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Fri, 19 Oct 2018 09:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207427/anson-resources-makes-appointments-to-address-skills-gap-in-board-207427.html
<![CDATA[News - Anson Resources shares surge on producing first lithium hydroxide product ]]> https://www.proactiveinvestors.com.au/companies/news/206252/anson-resources-shares-surge-on-producing-first-lithium-hydroxide-product-206252.html Anson Resources Ltd’s (ASX:ASN) shares are trading about 34% higher intra-day at 10 cents after successfully producing its first lithium hydroxide product from the Paradox Lithium Project in Utah, US.

The lithium hydroxide product was produced during precipitation test work carried out by Lilac Solutions on a 1000 litre bulk sample extracted from the free-flowing Cane Creek 32-1 well.

Both lithium carbonate and lithium hydroxide have now been successfully produced from Cane Creek brine using the Lilac process.

READ: Anson Resources produces first lithium carbonate, shares rise

This represents a further step forward in determining the production process and determining products that can be offered to customers.

Anson is examining different production processes to assess the best recovery and purity results from the Cane Creek brines, which will also provide the best financial returns.

READ: Anson Resources aims to re-enter three wells as part of fast-track lithium strategy

Anson managing director Bruce Richardson said: “The company is moving as quickly as possible to determine the most economic process to recover value from the brines contained in the Paradox Lithium Project.

“The results achieved by Lilac Solutions in being able to produce lithium carbonate and lithium hydroxide from these brines have been very impressive and are significant steps forward in the development of the project.”

Boron, bromide and iodine test work

Hazen Research, based in Denver, Colorado, has been appointed to complete a series of bench-scale experiments to examine the potential extraction and purification of boron, bromine and iodine from a representative brine sample from the Cane Creek 32-1 well.

Test work on the sample has commenced.

READ: Anson Resources lifts Paradox lithium exploration target 30% after staking new claims

Richardson added: “The ability to produce either lithium carbonate or lithium hydroxide would enable the company to meet the demands of customers of both products and would provide it with the flexibility to meet changes in the product demand.

“While test work will continue on producing battery grade lithium products, the company also looks forward to the results that are anticipated from Hazen in extracting boron, bromide and iodine, as it is considered that the extraction of these minerals may not only provide additional revenue streams but also contribute to improving the quality and recovery of lithium carbonate and/or lithium hydroxide.

“The appointment of Hatch, as a part of the team, brings significant resources and experience to lithium processing and will assist the company in ensuring that the best processing is utilised in the Paradox Lithium Project.”

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Wed, 03 Oct 2018 14:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206252/anson-resources-shares-surge-on-producing-first-lithium-hydroxide-product-206252.html
<![CDATA[News - Anson Resources enters trading halt pending test work results ]]> https://www.proactiveinvestors.com.au/companies/news/206244/anson-resources-enters-trading-halt-pending-test-work-results-206244.html Anson Resources Ltd (ASX:ASN) has been granted a trading halt by the ASX pending the release of information regarding test work results from its Paradox Lithium Project in Utah, US.

Shares in the company will remain halted until, the earlier of the release of relevant information, or, the commencement of trading this Friday 5 October 2018.

READ: Anson Resources lifts Paradox lithium exploration target 30% after staking new claims

Most recently, Anson increased the estimated lithium brine exploration target for the Paradox Lithium Project by 30%.

The exploration target is now between 85 million and 171 million tonnes of brine using an estimated grade of 140 to 500 ppm lithium.

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Wed, 03 Oct 2018 12:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206244/anson-resources-enters-trading-halt-pending-test-work-results-206244.html
<![CDATA[News - Anson Resources lifts Paradox lithium exploration target 30% after staking new claims ]]> https://www.proactiveinvestors.com.au/companies/news/205596/anson-resources-lifts-paradox-lithium-exploration-target-30-after-staking-new-claims-205596.html Anson Resources Ltd (ASX:ASN) has increased the estimated lithium brine exploration target for the Paradox Lithium Project in the US state of Utah by 30%.

The exploration target is now between 85 million and 171 million tonnes of brine using an estimated grade of 140 to 500 ppm lithium.

Increase due to staking of new claims

This increase is due to the staking of additional claims in the area by Anson’s Utah-based subsidiary A1 Lithium, with 1,317 claims staked, up from 983.

Anson’s managing director Bruce Richardson said, “The increase in the exploration target will improve the economics of the Paradox Lithium Project.”

READ: Anson Resources aims to re-enter three wells as part of fast-track lithium strategy

Shares were up 24% to 10.5 cents in early trade.

The brine exploration target at the Paradox project.

Richardson said, “It is significant that the area where this additional volume has been calculated includes the area around the Long Canyon No 1 and White Cloud No 2 wells where historical assays recorded high concentrations of lithium.

“Anson is aiming to target this area in its next sampling of lithium brines by re-entering nearby wells.”

READ: Anson Resources increases lithium prospective claims at Paradox project by 33%

The total area of the project is now 11,373 hectares, which makes A1 Lithium the major claim holder in the region with a large contiguous block over the major geological structures, such as Roberts Rupture.

Anson has identified that three historical wells in the new area - Long Canyon No 2, Skyline Unit 1 and Matthew Fed 1 – provide the opportunity to test the estimated exploration target.

Targets for re-entry

These targets selected for re-entry have been prioritised based on proximity to the major Roberts Rupture geological structure, the Cane Creek Anticline and the cross-cutting structures in the area.

In addition, these wells are also close to the Long Canyon No 1 well which contains a recorded lithium value of 500 ppm.

The plan below shows the Paradox project land package and the proximity of the claims to the wells in the area that have previously been assayed for lithium.

Roberts Rupture structure, which is thought to provide natural fracturing of the host rock allowing the flow of fluids, strikes through the eastern claims.

The western claims show areas of structures which are similar to that near the Roberts Rupture.

Anson previously stated that re-entering the wells to sample minerals contained in the targeted brine zones would reduce the time and costs of proving up a resource.

The company has advised: “The exploration target is conceptual in nature as there has been insufficient exploration undertaken on the project to name a mineral resource.

“It is uncertain that future exploration will result in a mineral resource.”

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Tue, 25 Sep 2018 13:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205596/anson-resources-lifts-paradox-lithium-exploration-target-30-after-staking-new-claims-205596.html
<![CDATA[News - Anson Resources aims to re-enter three wells as part of fast-track lithium strategy ]]> https://www.proactiveinvestors.com.au/companies/news/205277/anson-resources-aims-to-re-enter-three-wells-as-part-of-fast-track-lithium-strategy-205277.html Anson Resources Ltd (ASX:ASN) plans to re-enter and sample three historical oil wells as part of its strategy to fast-track lithium production at the Paradox Lithium Project in the US state of Utah.

Re-entry of existing wells is a much more cost-effective way of sampling the lithium brines than drilling new holes and the recent staking of new claims provides this opportunity.

READ: Anson Resources increases lithium prospective claims at Paradox project by 33%

The company’s Utah-based subsidiary A1 Lithium recently staked additional claims near the Long Canyon No 1 and White Cloud No 2 wells where historical assays recorded lithium values of 500 and 1700 ppm.

There are several wells in this area that could be re-entered to sample the minerals contained in the targeted brine zones, which reduces the time and costs of proving up a resource.

As a result, the exploration program to achieve a maiden JORC resource is being reviewed as higher grades are expected to improve the economic viability of the Paradox project.

READ: Anson Resources on-site lithium evaporation tests compare favourably with lab tests

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 a much greater exploration area but also many new options for the re-entering, sampling of existing wells and new drilling.”

The new claims contain seven locatable historical oil wells that have been plugged and abandoned.

The table below also shows the depth interval that the sampling of the relevant clastic horizons will be carried out for the target holes.

Three holes prioritised

Anson has identified three of these holes - Long Canyon No 2, Skyline Unit 1 and Matthew Fed 1 - as providing the greatest opportunity.

Targets selected are prioritised based on proximity to the major Roberts Rupture geological structure, the Cane Creek Anticline and the cross-cutting structures in the area.

Location of the priority drill hole targets.

In addition, these wells are also close to the Long Canyon No 1 well which contains the recorded 500 ppm lithium value.

Access to these wells is via existing roads which pass through the claims.

The county roads are well maintained and the tracks will only need minor upgrading, thereby enabling an exploration program to begin once government approvals have been granted.

Drill pads of the selected wells will require some work but little rehabilitation has been previously carried out.

Long Canyon No 2 drill pad will need very little earthworks to upgrade to drill suitability.

Anson has started work to obtain approval from the Bureau of Land Management to re-enter the three selected wells.

SRK assisting in resource preparations

The company has appointed SRK Consulting to assist in reviewing the pathway to achieving a maiden JORC resource.

SRK is reviewing existing data compiled by the company from recent exploration programs and the historical drilling and sampling to identify the additional work required to achieve a maiden resource.

This gap analysis is expected to be completed in October 2018.

“With assistance from SRK, the company is focused on producing a JORC resource as soon as possible,” Richardson said.

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Thu, 20 Sep 2018 12:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205277/anson-resources-aims-to-re-enter-three-wells-as-part-of-fast-track-lithium-strategy-205277.html
<![CDATA[News - Anson Resources increases lithium prospective claims at Paradox project by 33% ]]> https://www.proactiveinvestors.com.au/companies/news/204577/anson-resources-increases-lithium-prospective-claims-at-paradox-project-by-33-204577.html Anson Resources Ltd (ASX:ASN) has staked additional claims prospective for lithium at its Paradox project in the US state of Utah, increasing the total number of claims by 33%.

The 334 new placer claims staked by Anson’s Utah-based subsidiary A1 Lithium total 2,640 hectares and surround the company’s Cane Creek well and industrial lease.

They create a large-scale prospective and contiguous land package for lithium-rich brines of 11,373 hectares covering a large area of the Central Paradox Basin.

READ: Anson Resources’ drill approval provides another option as US lithium project advances

Anson’s managing director Bruce 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.

“We are extremely pleased to have been successful in locating these claims as it is expected that they will provide additional supersaturated brines for future processing and further improve the economic viability of the Paradox Brine Project.”

Land surrounds Cane Creek 32-1 well

The parcel of claims surrounds the Cane Creek 32-1 well where artesian flow of brine has occurred during a recent Anson sampling program.

Plan showing the claims and CZ 31 depth contours in the Central Paradox Basin.

This is also the area where an industrial lease has been submitted for future production.

In addition, the claims surround the Long Canyon No 1 and White Cloud No 2 wells where historical assays recorded high lithium values.

Seven historical oil wells are on the new claims, some close to the Long Canyon No 1 and White Cloud No 2 wells as well as Robert’s Rupture and cross-cutting structures.

These structures are geologically interpreted to be causing high pressure resulting in the artesian flow of the brine to surface.

READ: Anson Resources on-site lithium evaporation tests compare favourably with lab tests

The seven wells are prospective for re-entry for sampling and are being considered as part of a future exploration program aimed at defining a JORC resource.

In addition, the new claims have recent wells on them which could also be used for sampling programs or at a later date, production wells.

Access to these areas is provided by existing roads which pass through the claims.

The roads are well maintained and the tracks will require little upgrading, thereby enabling an exploration program to begin once government approvals have been granted.

Anson aims to complete a lithium resource estimate for the Paradox project by the end of 2018.

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Tue, 11 Sep 2018 10:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204577/anson-resources-increases-lithium-prospective-claims-at-paradox-project-by-33-204577.html
<![CDATA[News - Anson Resources’ drill approval provides another option as US lithium project advances ]]> https://www.proactiveinvestors.com.au/companies/news/201871/anson-resources-drill-approval-provides-another-option-as-us-lithium-project-advances-201871.html Anson Resources Ltd (ASX:ASN) will consider drilling of the Long Canyon A1 site as part of proving a JORC-compliant lithium resource at its Paradox project in the US state of Utah.

This option is now available to the company after its Utah subsidiary A1 Lithium was granted a Notice of Intent to drill the well by the Bureau of Land Management (BLM).

As well as assisting in resource calculations by the end of 2018, Long Canyon A1 (LC A1) is also being considered as a potential production well.

READ: Anson Resources on-site lithium evaporation tests compare favourably with lab tests

Anson’s managing director Bruce Richardson said: “Approval of the LC A1 application by the BLM provides the company with an opportunity to drill an exploration well to confirm the historical assay for Long Canyon No 1 of 500ppm.

“It also provides a location for a future production well and is a further step forward in the development of the Paradox Lithium Project.

“The company remains on track to defining a JORC-compliant resource by the end of 2018.”

 

LC A1 drill site is 800 metres southeast of Robert’s Rupture, a geological feature considered to demonstrate the extensive fracturing resulting in the formation of brine traps concentrating minerals, including lithium.

The feature is also considered a contributor to the artesian flow of the lithium-rich brine to surface. In addition, the drill site is about 1.3 kilometres from the Long Canyon No 1 well, northwest of Robert’s Rupture, where historical assays indicate lithium content of 500ppm.

Archaeological, environmental and site surveys were conducted over the proposed area in May

2018 with these reports provided to the BLM as part of the approval process.

READ: Anson Resources continues to receive positive lithium brine test results

The LC A1 well has been approved to drill to 7,050 feet to sample the lithium and other mineral concentrations, artesian flow, pressure and temperature recorded on Clastic Zone 31.

These were recorded when the Long Canyon No 1 and White Cloud No 2 wells were drilled.

Should Anson elect to drill the well, brines from other clastic levels will be assayed for lithium and other minerals as it drills down to Clastic Zone 31.

Possible production well

If the assay results are positive the company could consider this well for production of brine at a later date.

Since the NOI was lodged the company has acquired additional claims which provide the opportunity for re-entry, joint venture drilling and drilling in a new location.

These may assist Anson in achieving its objective of a JORC resource by the end of 2018.

All of these options are under consideration by the company.

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Tue, 31 Jul 2018 11:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201871/anson-resources-drill-approval-provides-another-option-as-us-lithium-project-advances-201871.html
<![CDATA[News - Anson Resources on-site lithium evaporation tests compare favourably with lab tests ]]> https://www.proactiveinvestors.com.au/companies/news/201493/anson-resources-on-site-lithium-evaporation-tests-compare-favourably-with-lab-tests-201493.html Anson Resources Ltd (ASX:ASN) on-site pond evaporation tests on lithium brine at the Paradox project in the US state of Utah compare favourably with laboratory test work.

Lithium concentration in the evaporation ponds increased to 398ppm after 17 days of evaporation subject to variable temperature and weather conditions.

READ: Anson Resources continues to receive positive lithium brine test results

The laboratory tests resulted in the concentration increasing to 433ppm after 14 days under constant temperature conditions, 24 hours per day.

Anson’s managing director Bruce Richardson said: “The company has moved quickly

to replicate the first stage laboratory benchtop test work with in-field evaporation ponds.

“This continues the strategy of fast-tracking the Paradox Lithium Project into production.

 

“The correlation of results is very pleasing.

“It provides confidence that the pilot plant to be designed through benchtop test work will be successful in extracting lithium and other minerals of high concentration once completed. “Concentrated brine from this process will be used to produce sample lithium carbonate for testing by potential offtake partners and investors.”

Work to design process flow chart

This forms part of Anson’s test work to design a process flow chart for the recovery of lithium and other minerals from the supersaturated brines and to assist in fast-tracking the project into production.

On-site tests were carried out on a bulk sample extracted from the Cane Creek 32-1 well.

The pond evaporation tests were carried out on-site where the daily temperature ranged from 13 to 39 degrees Celsius, with 12 hours of sunlight and rainfall occurring on some days.

The metals concentration in the solution during evaporation. Sodium and potassium concentrations decreased,

precipitating out as chloride salts.

These conditions result in the water temperature of the ponds varying compared to the laboratory’s constant temperature and explains why evaporation is slower than in the laboratory.

The lithium values during the evaporation test work were assayed both in the saturated brine and the crystal salts by standard lithium assay methods.

The precipitated crystals also entrap the crystallising mother liquor and some lithium in it.

As in regular mineral processing, the lithium in the crystals can be extracted by further processing.

Data from the ongoing tests will assist in developing a process flowchart to optimise production of lithium and other minerals.

In addition to the option of utilising evaporation ponds, the company is conducting tests using other extraction techniques.

A comparison of the increase in concentrations for the laboratory and pond tests over time.

The on-site test work has continued but the ponds are drying up.

This may cause the lithium concentration to plateau as it did in the bench-top test work.

READ: Anson Resources test work shows grades of lithium and boron rising higher

Unlike the lab work the concentrated brine can’t be combined and the evaporation cycle continued with the current configuration of the ponds.

However, the concentrated brine will be extracted and sent to the metallurgical laboratories carrying out the lithium carbonate production test work.

Test work will be conducted at these laboratories to determine the benefit of a higher lithium feed grade of around 398ppm compared to that at time of extraction.

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Wed, 25 Jul 2018 11:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201493/anson-resources-on-site-lithium-evaporation-tests-compare-favourably-with-lab-tests-201493.html
<![CDATA[News - Anson Resources continues to receive positive lithium brine test results ]]> https://www.proactiveinvestors.com.au/companies/news/201395/anson-resources-continues-to-receive-positive-lithium-brine-test-results-201395.html Anson Resources Ltd (ASX:ASN has received further encouraging results from the third and final evaporation technique trial by Outotec on the bulk sample extracted from the Cane Creek 32-1 well.

This work, which is being run in parallel with the lithium extraction process by Lilac Solutions, forms part of Anson’s plan to fast-track the Paradox Lithium Project in Utah, into production.

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

READ: Anson Resources test work shows grades of lithium and boron rising higher

Outotec tested three evaporation processes; heat, vacuum and reactor.

The successful increase in lithium concentration using a reactor to 891 ppm, completed within two hours, resulted in a suitable lithium brine concentration as a feed for the proposed processing plant.

All three evaporation processes tested by Outotec are considered to be successful.

The reactor process was carried out after the extraction of magnesium and calcium, using precipitation, to levels below detection.

The removal of the magnesium and calcium are considered important steps as high concentration of these minerals are considered inhibitors to a successful lithium extraction process.

Anson managing director Bruce Richardson said: “A total of four different processes are being tested for the evaporation and initial processing of the brine to achieve the best economic outcome for the company and add to shareholder value.

“It is very pleasing that similar results have been achieved using the reactor evaporation process on Cane Creek artesian super saturated brines to those achieved using a synthetic brine based upon assay results of brine taken from the Long Canyon.

“While this test work is not complete, the successful removal of calcium and magnesium are important steps.

“The company is continuing with its objective of fast tracking the Paradox Lithium Project into production while at the same time ensuring that the best economic result is achieved for its shareholders.”

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Tue, 24 Jul 2018 14:16:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201395/anson-resources-continues-to-receive-positive-lithium-brine-test-results-201395.html
<![CDATA[News - Anson Resources test work shows grades of lithium and boron rising higher ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://www.proactiveinvestors.com.au/companies/news/198742/anson-resources-re-opening-cane-creek-well-to-conduct-further-tests-198742.html