Sign up Australia
Proactive Investors - Run By Investors For Investors

Anson Resources on track for lithium carbonate production

The company’s shares have today reached a 12-month high of $0.28.
Drill collar
First assays from the Gold Bar Unit 2 well are expected by the end of January

Anson Resources Ltd (ASX:ASN) is on track to produce first lithium carbonate from its U.S. project in April 2018.

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

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

Bench-top processing

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

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

READ: Anson Resources breaks ground at Paradox Lithium Project

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

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

Drilling to depth of 7,280 feet

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

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

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

View full ASN profile View Profile

Anson Resources Ltd Timeline

Related Articles

Copper on the periodic table
March 08 2018
Historical high-grade ore stockpiles present an early cash flow generation opportunity.
June 07 2018
Primary Cobalt Corp is a project generator in growth mode
September 27 2018
Vanadium has outperformed the market significantly over the past three years, and Anglo Pacific is benefittng

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use