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Anson Resources prepares for highly anticipated drilling at Paradox Lithium Project

Anson is fully permitted to drill its Paradox Lithium Project.

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Anson recently secured additional funding

Anson Resources Ltd (ASX:ASN) is on schedule to commence a fully-funded drilling program before the end of the year at the Paradox Lithium Project in the U.S.

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

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

READ NOW: Anson Resources secures additional funding from Zhongfan Group

Bruce Richardson, managing director, commented:

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

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

Drilling details

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

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

Accordingly the drilling program is faster and cheaper.

Quick facts: Anson Resources Ltd

Price: 0.0195 AUD

ASX:ASN
Market: ASX
Market Cap: $15.28 m
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Anson Resources initiates $3 million fundraising to advance its Paradox...

Anson Resources Ltd (ASX:ASN) CEO Bruce Richardson tells Proactive the firm has launched a share purchase plan (SPP) offer to raise up to $2 million as part of a $3 million capital raising effort to advance its Paradox Brine Project in Utah. Richardson says the funds raised will be used to...

on 17/6/20

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