Anson Resources Ltd's (ASX:ASN) managing director, Bruce Richardson, has added to his stake in the company from an on-market purchase.
Richardson increased his direct holding by 365,000 shares to 5.1 million. His indirect exposure is 10.4 million shares and 2.4 million Class B Performance Rights.
Richardson is a 30 year veteran with a proven track record in exploration, mining and production.
Paradox Lithium Brine Project
Anson remains focused on Paradox Lithium Brine Project located 20 minutes drive from the town of Moab in the U.S. state of Utah.
The project is located 4 kilometres from an operating potash mine and in a semi-desert region that has 300 days of sun per year.
Anson is earning up to 70% in the project by spending US$3 million.
The project covers an 8.9-kilometre strike length along what is known as Robert’s Rupture, a significant rift, thought to be a source of lithium-rich brines.
A historical well, Gold Bar Unit 2, was drilled to a depth of 9,682 feet within the project and intersected Anson’s target zone known as Clastic Zone 31.
Clastic Zone 31, which contains lithium-rich brines, is possibly replenished from aquifers below, and there are an additional 20 untested Clastic Zones possibly containing brines.