viewAnson Resources Ltd

Anson Resources drilling of Long Canyon No. 2 well on track

The company is exploring for mineralised brines by re-entering old oil wells in Utah.

 Long Canyon No. 2 well pad with work over rig in operation
Historical assays for lithium in the area means it is a focus mineral

Anson Resources Ltd (ASX:ASN) has updated the market saying it is progressing smoothly with its re-entry of the Long Canyon No. 2 well at its Paradox Brine Project in Utah, US.

The company has removed the exploration tubing and tools that have been stuck in the well since its use in 1963.

Anson will commence sampling of the brines contained in the selected clastic zones of the well in the near future.

The location of the Long Canyon No. 2 well is only 900 metres south-east of the Long Canyon 1 well, which has a historical lithium value of 500ppm lithium.

The information obtained from the sampling program will be used to fast track the estimate of a JORC Resource.

READ: Anson Resources well positioned to benefit from increasing lithium demand: Arrowhead

Anson’s executive chairman and CEO Bruce Richardson said: “By bringing forward the re-entry program at the Long Canyon No. 2 well, Anson is seeking to fast track the determination of a JORC resource for Clastic Zone 31 where high pressure and high grades of lithium have been recorded.

“Due to the hard work of local contractors and members of the Anson team the road and pad at Long Canyon were re-established quickly, despite adverse weather conditions which provided the opportunity to bring the re-entry program at Long Canyon No. 2 forward.

“Finally, the successful extraction of exploration equipment stuck in the well since 1963 demonstrates the technical abilities of the team that Anson has put together in Utah and is contributing to the success that Anson is experiencing in its re-entry program, adding shareholder value.”

Quick facts: Anson Resources Ltd

Price: 0.047 AUD

Market: ASX
Market Cap: $30.55 m

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