- Anson Resources (ASN) validates the resource expansion potential of its Utah-based Paradox lithium project following resource definition drilling at the Cane Creek 32-1 well
- Initial assay results confirm the majority of the clastic zones contain lithium-rich supersaturated brines, which could provide numerous targets for future drilling
- Moreover, the first assay graded 108 ppm lithium, which is 40 per cent higher than the average grade of zones in the company’s upgraded JORC resource from August
- Anson says the extra thickness found in the new zones could pave the way for a large increase in a further planned mineral resource upgrade
- Shares in Anson Resources are up 8.33 per cent to 45.5 cents at 12:55 pm AEST
Anson Resources (ASN) has validated the resource expansion potential of its Utah-based Paradox lithium project following resource definition drilling at the Cane Creek 32-1 well.
The resource drilling program targeted additional clastic zones and the Mississippian units approximately 500 metres below the clastic zones.
It confirmed that the majority of the clastic zones contained lithium-rich supersaturated brines, which Anson said could provide numerous targets for future drilling programs.
Moreover, this could provide significant resource upside potential for the project moving forward.
The first assay result received showed a thickness of 29.6 metres and returned 108 parts per million (ppm) lithium, which is 40 per cent higher than the average grade of zones include in the company’s upgraded JORC resource at the project.
The company said several clastic zones in this program were much thicker than the zones previously sampled.
Due to this extra thickness, the new zones have the potential to deliver a large increase in a further planned mineral resource upgrade, which will incorporate results from this drilling.
Additionally, the assay data, once received, will provide additional geological information on the brine horizons in the project area, which can be sampled in future exploration programs.
The company said the exploration program did not completely drill through the Mississippian units, and it was still open at 121.3 metres at the completion of the drilling program.
Shares in Anson Resources were up 8.33 per cent to 45.5 cents at 12:55 pm AEST.