Sign up Australia
Proactive Investors - Run By Investors For Investors

Anson Resources upgrades lithium exploration target at Paradox project

Project economics have improved, providing Anson with the confidence to proceed to stage 3.
Exploration target volume increased by 10 to 20 fold

Anson Resources Ltd (ASX:ASN) has upgraded the exploration target of its Paradox Lithium Project in Utah, US to a range of 65 to 130 million tonnes of brine, at a grade of 140 to 500 ppm lithium.

The increase in the exploration target is due to staking of additional claims in the area, from 291 claims to 983 claims.

READ: Anson Resources stakes new claims near Paradox Lithium Project

In addition, further research and completion of exploration programs have revealed that artesian flow occurred through the entire interval of the main brine zone (Clastic Zone 31).

The Clastic Zone 31 thickness is now interpreted to range from 3.04 metres to 6.1 metres.

The fractured clastic zones form an excellent reservoir for brines derived from underlying evaporite units.

Higher potential to recover brine

The fracturing is caused by salt flowage, and it is possible that, when brine is removed from these zones, the salt will flow into voids from which brine has been removed.

This would help maintain high reservoir pressure and assist in a high ultimate recovery of brine.

Cores obtained from wells in the area have exhibited fractures filled with salt when brine has not been present.

READ: Anson Resources experiences improved exploration success close to Long Canyon area

Anson managing director Bruce Richardson said: The Company has worked quickly to expand the project area from 89 claims to 983 claims, an 11 fold increase, in just over twelve months.

“The exploration programs at Gold Bar and Cane Creek have identified a greater thickness of brine-bearing Clastic Zone 31.

“These two factors have increased the exploration target volume by 10 to 20 fold and improved the economics of the project and provided the company with the confidence to proceed to Stage 3 of the project, the bench top test work to produce LCE product for testing by off-take partners, potential strategic investors as well as cathode and battery producers.”

View full ASN profile View Profile

Anson Resources Ltd Timeline

Related Articles

coffee beans
April 26 2018
The company’s focus is the Arapua fertiliser project, located about 400km south-east of Brasilia in the State of Minas Gerais, a major agro-industrial centre.
August 15 2018
Thunderstruck has an attractive and diverse portfolio of assets in Fiji

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