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Anson Resources drives multi-mineral strategy with Paradox Brine Project in US and Australian nickel-copper-PGE prospects

Snapshot

While the Paradox Brine Project in Utah remains the company’s flagship project, Anson is conducting low-cost exploration at The Bull Project in Western Australia.

Anson Resources Ltd - Anson Resources Australian assets well placed to drive multi-mineral strategy

Quick facts: Anson Resources Ltd

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ASX:ASN
Market: ASX
Market Cap: $91.3 m
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Anson Resources Ltd (ASX:ASN) (FRA:9MY) is powering ahead with the study and permitting process for its flagship Paradox Brine Project in the US while also assessing prospects in Western Australia.

With renewed focus on nickel sulphide mineralisation and associated copper and platinum group element (PGE) minerals, Anson’s WA portfolio holds significant potential and is in a favourable position to benefit from renewed interest in these minerals.

The Bull project

The company’s initial ground-truthing program at the 100%-owned The Bull Project has confirmed the interpreted mafic-ultramafic intrusive complex, with copper values up to 1,845 parts per million (ppm).

This indicates that The Bull has a similar geological terrane as Chalice Gold Mines Limited’s (ASX:CHN) (OTCMKTS:CGMLF) (FRA:C8U) nearby Julimar nickel-copper-PGE discovery.

The three major targets identified measure up to 1400 metres in length and 800 metres wide.

Proposed exploration

The project has become the priority focus of Anson in Western Australia and it plans to move forward with the exploration program as quickly as possible.

Land access discussions with landowners for the next stage of the planned exploration program have commenced.

The next stages of the low-cost exploration program include:

  • Geologically mapping outcropping bedrock including assaying for copper, nickel, gold, platinum, palladium and other minerals;
  • Airborne drone magnetic survey;
  • Ground gravity survey;
  • Identification of conductor plates; and
  • Determination of initial drilling targets

The re-processing of the aeromagnetic data and sampling of the outcropping bedrock/laterite has already commenced.

The MLEM survey will be conducted over the next few months with the initial small-scale drilling program to be carried out in the first quarter of 2021.

Comparison of the Julimar discovery pathway and the Bull Project work program progress.

Ajana project

The company is also planning initial low-cost exploration programs at some of the highly prospective lead-zinc-copper-silver mineralisation targets at the Ajana project in WA. which were identified in a review of historical data.

As a result, the company is planning to recommence base metal exploration at tenements E66/89 and E66/94.

The initial focus will be on historical mines where high-grade mineralisation has been identified and known resources can be quickly increased to support the recommencement of mining to take advantage of current higher prices.

High-grade targets

The review of Ajana project data identified shallow historic high-grade mining operations which remain mostly unexplored – representing an opportunity to increase the JORC resource.

These include:

  • Ethel Maude Mine workings which recorded highgrade zinc, lead and silver;
  • Surprise Mine workings which recorded high-grade copper and silver; and
  • Mary Springs Mine workings and 2017 drilling which indicates high-grade lead, zinc, and silver with extensions along strike and at depth.

Potential resource extension

The data reviewed by Anson was also correlated with the VTEM targets within the Ajana project, many of which had not been located by the historical surveys.

Anson is confident this represents an opportunity to extend existing known resources, including a possible extension along strike from the historic Mary Springs lead mine.

The JORC resource for lead at Mary Springs covered a strike length of 230 metres while the target areas indicated by the VTEM and soil sample anomalies cover 1,200 metres and have an east-west extent of between 30 and 50 metres.

This may also apply to other prospects where mining activity has previously been conducted including Ethel Maude, Geraldine South and the Surprise prospects.

Plan showing the Ajana target areas with VTEM and zinc, lead and copper soil anomalies

Looking forward

Planning for a limited low-cost exploration program at Ajana has commenced and land access and heritage agreements with local owners have been signed.

Anson is preparing a Plan of Works (PoW) for submission to the Department of Mines Industry Regulation and Safety (DMIRS) for consideration and expects that the exploration program will begin towards the end of 2020.

Multi-mineral strategy

Anson has a multi-mineral and multi-revenue strategy with the acquisition of The Bull added to Anson’s existing base metal exploration projects in Western Australia where exploration activity is continuing.

More broadly within the portfolio, Anson’s Ajana project has previously had soil sampling programs completed showing lead-copper-zinc-silver anomalies.

Assay results for a previous drilling program at Hooley Well show nickel-chromium-cobalt mineralisation.

Paradox Brine Project

At the flagship lithium brine project in the US state of Utah, the company is progressing work on pre-development activities primarily off-site.

With the exploration process, the company has completed environmental, land and cultural surveys for re-entry target wells and started a pre-feasibility study (PFS) work program.

A Plan of Operations for the re-entry program has also been submitted to the US Government.

For the development process, infrastructure development has progressed including an Impact Study Report for the supply of mains power electricity to the proposed production site.

Anson has developed and tested an innovative process which is expected to significantly lower the cost of producing lithium hydroxide from lithium concentrated brines.

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on 4/11/20

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