Anson Resources Ltd (ASX:ASN) will begin its major resource expansion drilling campaign this week, with the drill rig on site at its flagship Paradox Lithium Project in Utah in the USA.
The coming campaign is designed to increase JORC inferred and indicated resources to support Anson’s plans for a substantial lithium producing operation and is expected to be completed in the next four weeks.
Drilling will focus on the Long Canyon No.2 (LC2) well and will target large Mississippian Units, which host a substantial supersaturated brine aquifer.
Notably, these are yet to be included in the existing resource at the Paradox Project.
Mississippian units are 100 metres to 250 metres thick, compared to 10 metres at the Paradox Clastic Zones, while the LC2 well remains open from previous sampling, providing for an efficient and inexpensive re-entry drilling program.
Drilling at LC2 is expected to be completed next month at which point ASN will turn its attention to other targets within the Paradox Project.
The Mississippian Units offer the scope for a significant increase to the existing resource. The highest lithium value reported to date (253ppm) was recorded in this well.
Focused on resource upgrade
Anson hopes to deliver a significant resource upgrade at Paradox, which will support a detailed feasibility study (DFS) and the development of the Paradox Project into a substantial lithium producing asset.
Leading global engineering solutions firm Worley is undertaking the DFS for the development of a lithium production facility at Paradox.
Anson’s resource expansion strategy is focused on:
- Increasing the existing JORC 2012 estimates both vertically and horizontally at existing targets across the Paradox Project area (Figures 1 and 2); and
- Defining resources at new claims to be added adjacent to the Paradox Project.
The company will test for lithium grades (as well as bromine, boron and iodine) within the Mississippian Units, and also in the Clastic Zones 17, 19, 29 and 33 brines with the intent to increase and upgrade the project’s estimated JORC resources
If successful, the proposed drilling and sampling would result in the conversion of a large portion of the Paradox Mississippian Exploration Target into an indicated resource with an area of interest (AOI) of 2 kilometres and an inferred resource with an AOI of 2 to 4 kilometres.
Anson's overall goal is to acquire and develop natural resources that meet the demand of tomorrow’s new energy and technology markets.