Anson Resources bolsters board with lithium processing expertise
The appointment comes at a key time as the company advances development of an industrial-scale, in-field pilot plant.
Company
ASX:ASN
Anson Resources Ltd (ASX:ASN) is a junior mineral resources company with a portfolio of minerals projects in key demand-driven commodities. The company's core asset is the Paradox Lithium Project in Utah, in the USA. Anson is focused on developing the Paradox Project into a significant lithium producing operation.
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The appointment comes at a key time as the company advances development of an industrial-scale, in-field pilot plant.
A flow rate of 35 barrels per hour was recorded for 10 hours from 6,318 feet below surface at the Long Canyon No 2 well.
Boron is an in-demand mineral used in the production of semiconductors.
The company is exploring for mineralised brines by re-entering old oil wells in Utah.
Arrowhead Business and Investment Decisions has updated its coverage on Anson with a fair value of 28 cents in the high bracket scenario.
The company is encouraged by the strong flow rates and concentrations of bromine and iodine also encountered.
Utah’s School and Institutional Trust Land Administration (SITLA) granted the new rights.
Samples collected will be sent to a certified laboratory in Texas for assaying for lithium, iodine, bromine, boron and other minerals.
The company is assessing how to incorporate bromine and iodine recovery processes into the in-field pilot plant.
Drilling is part of the program to estimate a maiden JORC Resource for the project.
The company aims to estimate a JORC resource using samples taken from old wells.
The company is working towards a JORC estimate at the Paradox project with a drill program set for completion this quarter.
Process refinement test work is on-going with Hatch and Lilac progressing with design and engineering.
By re-entering old oil wells, lithium brine samples can be collected.
Drilling of these two historical oil wells is planned to commence early next year.
The plant will be on an existing pad, which takes advantage of existing infrastructure and provides cost advantages.
Lithium recovery has increased to about 80% after passing through Lilac’s ion exchange process.
The company is seeking to estimate a JORC-compliant lithium resource at the project in Utah.
A new non-executive director has been appointed while Bruce Richardson has been appointed chairman and CEO.
The company remains on track to produce battery-grade products from its lithium-rich brines in Utah, US.