Anson Resources Ltd (ASX:ASN, OTCQB:ANSNF) has summarised its June quarter highlights, which featured the signing of a binding offtake term sheet with LG Energy Solution for the supply of up to 4,000 dry metric tonnes per annum of battery-grade lithium carbonate from Anson’s 100%-owned Paradox Basin Projects.
The supply of up to 4,000 dmt per annum, which is expected to commence in 2027, represents around 40% of the project start-up production capacity of around 10,000 tonnes per annum.
Anson also continues to progress negotiations with other potential tier-one global customers to complement its offtake strategy of 80-90% of initial production under long-term agreements.
The company has a portfolio of minerals projects in demand-driven commodities, led by its core lithium assets in the Paradox Basin in Utah, USA. Paradox Basin is a globally significant lithium asset, which Anson is working to develop into one of the largest lithium resources in North America.
Anson finished the quarter with a cash balance of A$8.2 million.
Paradox Lithium Project
At its Paradox Lithium Project Anson has completed a geotechnical engineering study, confirming the subsurface conditions suitable for constructing the foundations for the proposed processing plant. The site, which is about 10 kilometres from the well extraction site and adjacent to the Colorado River, is strategically positioned for efficient operations.
Green River Lithium Project
At its Green River Lithium Project, also in Utah, Anson produced its first lithium carbonate product at the Sample Demonstration Plant (SDP) during the quarter using raw brine from the Paradox Lithium Project.
The SDP will operate continuously for six months, producing battery-grade lithium carbonate. Additionally, at Green River, drilling of the Bosydaba #1 well reached 11,210 feet, intersecting more than 790 feet of Mississippian Units, with assay results indicating an increase in lithium content up to 236 parts per million (ppm) and averaging 139ppm.
Anson’s collaboration with Koch Technology Solutions on the Li-Pro™ process pilot unit aims to provide detailed feasibility engineering and cost data for a full-scale lithium extraction facility at Green River.
Ajana Base and Precious Metals Project
At the Ajana Base and Precious Metals Project in Western Australia, Anson has discovered critical minerals including gallium, indium, germanium and barium. High-grade values have been found at the Ethel Maude and Surprise prospects, with further extensive mineralisation discovered at the Mary Springs Prospect. Anson has strategically expanded its Ajana Project by pegging a new tenement, increasing the project size by 175%.
Yellow Cat Vanadium/Uranium Project
During the quarter, Anson completed the necessary environmental and cultural surveys to submit a Notice of Intent to drill at the Yellow Cat Vanadium/Uranium Project. The drilling will test a 2-kilometre potential high-grade strike extension following an east-west trend identified in previous exploration.