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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.

Quick facts: Anson Resources Ltd

Price: 0.0225 AUD

Market: ASX
Market Cap: $17.63 m

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