Anson Resources Ltd (ASX:ASN) has staked an additional 217 claims (1,756 hectares) at its Paradox Lithium Brine Project in Utah, US.
Importantly, the new claims are only 120 metres from a well with historical grades of 500 ppm lithium and 270 metres from a well with historical grades of 1,700 ppm lithium.
The expansion also provides potential to significantly expand the project’s current Exploration Target of 30 to 40 million barrels of brine grading 500 to 1,700 ppm of lithium.
Managing director believes expansion provides multiple opportunities
Bruce Richardson, managing director, said: “The strategic importance of staking this additional ground cannot be understated as it provides an opportunity for Anson to conduct an exploration program 120 metres from an area where world-class grades of lithium brines have been recorded.
“The staking of this ground provides targets for a new well or re-entry of an existing well.
“Anson is fully funded to fast-track the drilling of additional targets to work towards a JORC resource.”
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The new claims contain the historical Coors USA 1-10LC well drilled to 8,472 feet which is now plugged and abandoned.
Notably, the well can be used as a future re-entry target to fast-track Anson’s exploration program.
Historical records show the well intersected multiple zones of interest to Anson, including the main target zone, Clastic Zone 31.
Anson’s current Exploration Target was estimated for Clastic Zone 31.
Anson prepares maiden drill program
Recently, Anson outlined that it remains on schedule to commence a fully-funded drilling program before the end of the year at Paradox.
Environmental, cultural and paleontological studies have been accepted by the Bureau of Land Management, and Anson is fully permitted to drill.
The drilling program will be the re-entry of an existing well, Gold Bar Unit 2, which was previously drilled through the multiple brine zones Anson is targeting to sample for lithium.