Anson Resources Ltd (ASX:ASN) has increased the estimated lithium brine exploration target for the Paradox Lithium Project in the US state of Utah by 30%.
The exploration target is now between 85 million and 171 million tonnes of brine using an estimated grade of 140 to 500 ppm lithium.
Increase due to staking of new claims
This increase is due to the staking of additional claims in the area by Anson’s Utah-based subsidiary A1 Lithium, with 1,317 claims staked, up from 983.
Anson’s managing director Bruce Richardson said, “The increase in the exploration target will improve the economics of the Paradox Lithium Project.”
READ: Anson Resources aims to re-enter three wells as part of fast-track lithium strategy
Shares were up 24% to 10.5 cents in early trade.
The brine exploration target at the Paradox project.
Richardson said, “It is significant that the area where this additional volume has been calculated includes the area around the Long Canyon No 1 and White Cloud No 2 wells where historical assays recorded high concentrations of lithium.
“Anson is aiming to target this area in its next sampling of lithium brines by re-entering nearby wells.”
READ: Anson Resources increases lithium prospective claims at Paradox project by 33%
The total area of the project is now 11,373 hectares, which makes A1 Lithium the major claim holder in the region with a large contiguous block over the major geological structures, such as Roberts Rupture.
Anson has identified that three historical wells in the new area - Long Canyon No 2, Skyline Unit 1 and Matthew Fed 1 – provide the opportunity to test the estimated exploration target.
Targets for re-entry
These targets selected for re-entry have been prioritised based on proximity to the major Roberts Rupture geological structure, the Cane Creek Anticline and the cross-cutting structures in the area.
In addition, these wells are also close to the Long Canyon No 1 well which contains a recorded lithium value of 500 ppm.
The plan below shows the Paradox project land package and the proximity of the claims to the wells in the area that have previously been assayed for lithium.
Roberts Rupture structure, which is thought to provide natural fracturing of the host rock allowing the flow of fluids, strikes through the eastern claims.
The western claims show areas of structures which are similar to that near the Roberts Rupture.
Anson previously stated that re-entering the wells to sample minerals contained in the targeted brine zones would reduce the time and costs of proving up a resource.
The company has advised: “The exploration target is conceptual in nature as there has been insufficient exploration undertaken on the project to name a mineral resource.
“It is uncertain that future exploration will result in a mineral resource.”