- Anson Resources (ASN) expands the Paradox lithium brine project area to 122 square kilometres
- The Utah Government granted the company four additional blocks that are highly prospective for lithium-rich brines and will support its resource expansion plans
- The new tenure is planned to contribute additional resources to a proposed resource upgrade which will support feasibility studies and development of the Paradox project
- Anson will conduct sampling and drilling on the eastern and western sides of the project to convert these areas into indicated resources
- Anson’s shares were up 7.14 per cent at 15 cents
Anson Resources (ASN) has expanded its Paradox lithium brine project area by about 8.1 square kilometres after the Utah Government granted the company four additional blocks immediately adjacent to the Paradox project area.
The new tenure, which is reportedly highly prospective for lithium-rich brines, takes Anson’s Paradox footprint to 122 square kilometres.
Anson said the additional area is a major positive for its resource expansion plans as the blocks are planned to contribute additional resources to the proposed resource upgrade which is slated for the first half of 2022.
A resource upgrade will support feasibility studies and the development of the Paradox project into a lithium-bromine producing operation.
Anson operates the Paradox project through a wholly owned subsidiary A1 Lithium. Its main focus for the resource expansion program will be re-entering the Long Canyon No 2 well on the eastern side of the Paradox project. The work will include diamond drilling and sampling zones with no recorded historical assays and is aimed at upgrading the existing inferred resource to the indicated category.
Additionally, the JORC resource estimates to the west of Paradox are expected to increase once the sampling and drilling program has been completed for the Sunburst and Mineral Canyon Wells.
Before sampling and drilling can commence, the company has submitted a plan to the Bureau of Land Management, Department of the Interior for approval.
Anson’s shares were up 7.14 per cent at 15 cents at 10.08am AEDT.