Anson Resources Ltd (ASX:ASN) is buoyed by a lithium grade of 253ppm returned from free-flowing brine intercepted in recent drilling at Long Canyon No 2 Well within the Paradox Brine Project in the US state of Utah.
This is about 148% higher than the lithium grade of brine from Anson’s Cane Creek 32-1 well which has been used in the Lilac Solutions’ IX test work to date.
The Long Canyon No 2 samples will be sent to Lilac for processing through a modular extraction plant it has constructed as part of detailed design and work for a pilot plant.
Results will assist in the final design of the plant, which Anson plans to build later this year.
Anson’s executive chairman and CEO Bruce Richardson said: “The successful re-entry at Long Canyon Unit 2 has provided Anson with valuable data that can be utilised in the estimation of a JORC resource.
“This is progressing at the same time as developing a pilot plant for the production of battery-grade lithium carbonate.”
Shares are up 7.25% to 7.4 cents.
Anson’s assay in this well is the first recorded lithium value and artesian flow east of Roberts Rupture, adding new knowledge of the geology of the area.
Assays of Anson's wells and other historical results in the Long Canyon area.
Assays of other minerals are progressing and once received work will begin on estimating a JORC resource incorporating Anson’s assays and historical results.
The high-grade assay from Clastic Zone 31 confirms Anson’s interpretation that the cross-cutting structures act as ‘traps’ and concentrate lithium in the central and southern areas of the project area.
Richardson said: “The higher grade at Long Canyon is particularly significant as this will assist further improving the economics of this project.”
Flow rates from the three wells support Anson’s theory that the fracturing by geological structures in the central and southern area of Anson’s claims will assist with brine flow without the need for extraction pumping.
Flow rates, pressures and temperatures at the wells.
In addition, free-flowing brines at Long Canyon were heavier and the flow was recorded at the deepest interval drilled by Anson to date, indicating higher concentrations of supersaturated minerals in the brine.
Downhole geophysical logging at Skyline Unit 1 well is underway to develop hydraulic parameters for the brine producing interval at these wells.
The information obtained will be used in the estimate of a JORC resource which is being fast-tracked.