- Anson Resources (ASN) sees consistent high-pressures following drilling at the Long Canyon number two well within its Paradox lithium project in Utah
- The latest drilling results returned a pressure of 3785 pound per square inch, with similar high-pressure results recorded in the Mississippian Unit, within a 10 kilometre radius
- ASN expects this will allow continual flow and is confident the pressure won’t drop nor will the flow slow over time
- This work is part of a resource expansion drilling program at Paradox and drilling will now move to the Cane Creek 32-1 well
- Company shares last traded at 9.4 cents on July 1
Anson Resources (ASN) has seen consistent high-pressures following drilling at the Long Canyon number two well (Long Canyon) within its Paradox lithium project in Utah.
The junior mineral resource company is undertaking a resource expansion drilling program at the project, with the aim of converting the existing exploration target into an indicated and inferred resource.
The most recent round of work targeted the large Mississippian supersaturated brine aquifer which reportedly hosts a substantial lithium-rich zone of around 70 metres by 250 metres thickness.
Results from the Long Canyon well returned a pressure of 3785 pound per square inch (psi).
Similar high-pressures were recorded in the Mississippian Unit within a ten-kilometre radius.
Anson expects the high pressure, porosity and permeability to deliver continual
flow at the extraction well location.
Executive Chairman and CEO Bruce Richardson said Long Canyon has established that the pressures in both the Paradox and the deeper Mississippian Unit are very high.
“This is expected to allow the brine to flow from an area with a radius of 10 kilometres and is why the company is confident that the pressure will not drop or the flow will slow down over distance and time, as is known to occur with oil wells,” he explained.
Brine samples have been sent to a laboratory to assay for lithium, bromine and other minerals.
While waiting for the assays, LSR will move to the Cane Creek 32-1 well as part of the overall resource expansion program.
Company shares last traded at 9.4 cents on July 1.