Anson Resources Ltd (ASX:ASN) aims to play a critical role in the onshoring of the lithium supply chain to North America by developing the Paradox Lithium Project in Utah, USA.
It is an advanced development project, covering an area of 167 square kilometres in the Paradox Basin in southern Utah.
Anson is focused on developing the Paradox Project into a significant lithium-producing operation to provide high-quality lithium carbonate equivalent (LCE) for the rapidly growing electrical vehicle (EV) battery market.
Anson uses a direct lithium extraction (DLE) technology developed by its partner Sunresin which is more efficient, uses less water, and produces less CO2 than hard rock and brine evaporation process. Higher purity (99.95%) delivers longer-life batteries.
This lithium extraction process technology has been in commercial use since 2018 and currently produces 32,000 tonnes per annum of LCE.
Anson's CEO & COO inspect the Sunresin 10,000tpa lithium carbonate equivalent production plant at the Fastmarkets Lithium Supply and Battery Raw Materials 2023 Conference. Anson is continuing to work with Sunresin and Worley on the Front End Engineering & Design study (FEED). pic.twitter.com/TFfjpas3Xm
— Anson Resources Ltd (ASX:ASN) (@anson_ir) June 22, 2023
The September 2022 DFS (definitive feasibility study) for Phase 1 of the Paradox Lithium Project confirmed the project’s advanced potential to become a major supplier of high purity, battery grade lithium carbonate into the US EV battery market.
The DFS proposes that the project will produce 13,074 tonnes per annum of high purity LCE over an initial 10-year project life, and then produce lower commercial levels up to a production life of 23 years.
Phase 2 development of the Paradox Project is proposed to comprise further substantial increases in lithium production capacity plus bromine production.
Anson’s lithium extraction process.
Anson’s sample demonstration plant at its Lithium Innovation Centre in Florida is producing battery-grade lithium carbonate, using the flowsheet designed by the company’s DLE partner, Sunresin.
The production rate is steadily increasing and Anson is targeting one tonne per annum by the end of 2023, which will meet the Stage 1 and 2 supply qualification requirements of potential off-take partners.
Lithium Innovation Centre, Florida.
The ramp-up of sample production is a key step in Anson’s qualification process with potential offtake partners ahead of securing long-term offtake agreements.
The lithium carbonate product from the sample demonstration plant will be supplied to vehicle manufacturers and their cathode active material (CAM) partners for testing as a part of the qualification process.
Green River Lithium Project
Anson recently expanded its footprint in the Paradox Basin via the staking of the Green River Lithium Project, which exhibits key geological similarities with the Paradox Project.
A large number of historical oil and gas drilling records in the Green River region has helped Anson gain a strong understanding of the region’s geology.
These drilling logs and other geological studies indicate that the Clastic zones and Mississippian units are continuous between the two projects and are thicker in some areas at Green River with up to 204.8 metres recorded in the Mississippian Units.
Anson receives strong support from local leaders for its Utah lithium projects during a visit to the Green River site. State rep. Phil Lyman, Ground County Comm. Bill Winfield and GR Mayor Ren Hatt & Councillor Bo Harrison welcomed a group of potential Anson business partners. pic.twitter.com/dQlWy1TM0s
— Anson Resources Ltd (ASX:ASN) (@anson_ir) August 2, 2023
The geological structures at Green River contribute to high pressure, increased porosity and increased permeability — each being strong indicators of the potential for low extraction costs and beneficial ESG outcomes.
Downhole geophysics has confirmed high pressures at Green River, as is the case at Paradox, with the highest recorded pressure of 5,500psi recorded during a drilling program into the Mississippian Units in close proximity to the Green River Project Area.