- Anson Resources (ASN) receives final approvals for a fresh drilling program at its Paradox lithium project in the Paradox Basin in Utah
- The company has paid a requisite reclamation bond to the Utah State Treasurer, Division of Oil, Gas and Mining — the final step before drilling can commence
- ASN will now launch a re-entry drilling and sampling program at the Mineral Canyon and Sunburst wells in the western region of the project
- The company plans to deliver a “substantial” increase to the existing Paradox mineral resource through its new exploration work
- ASN shares are down 6.25 per cent and trading at 19 cents at 2:10 pm AEDT
Anson Resources (ASN) has received final approvals for a fresh drilling program at its Paradox lithium project in the Paradox Basin in Utah.
The company has paid a requisite reclamation bond to the Utah State Treasurer, Division of Oil, Gas and Mining — the final step before drilling in the Paradox region to target re-entry pathways can begin.
ASN will now launch a re-entry drilling and sampling program at the Mineral Canyon and Sunburst wells in the western region of the project.
Both wells lie less than 1000 metres from known lithium-rich brines that were previously sampled in the ‘Big Flat’ area during historical oil and gas exploration programs.
Anson’s Western Strategy resource expansion program is designed to deliver a “substantial” increase to the existing Paradox mineral resource.
Alongside drilling work, the company will conduct lithium, bromine, iodine and boron sampling of supersaturated brines from the wells.
Sampling will be taken from thick Mississippian limestone units and shallower clastic horizon layers.
The drilling work will target the “lithium-rich” brines of the Mississippian and Pennsylvanian aquifers.
ASN shares were down 6.25 per cent and trading at 19 cents at 2:10 pm AEDT.