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Anson Resources upgrades lead deposit to JORC 2012

Anson’s flagship project is the Paradox Lithium Brine Project located in Utah, U.S.

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Anson Resources (ASX:ASN) has successfully upgraded its 100% owned Mary Springs lead deposit located in Western Australia to JORC 2012 standards.

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

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

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

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

Project portfolio

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

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

Paradox Lithium Brine Project

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

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

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

A proven basin and new lithium province

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

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

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

Comparing lithium grades

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

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

READ NOW: Anson Resources' shares soar as results higher than expected from Paradox Brine Project

READ NOW: Anson's shares spike on continued progress at lithium project in the U.S.

Quick facts: Anson Resources Ltd

Price: 0.036 AUD

Market: ASX
Market Cap: $28.2 m

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