Anson Resources Ltd (ASX:ASN) has all the necessary approvals in place to kick off the next phase of its resource expansion drilling program at the Paradox Lithium project in Utah.
The battery minerals explorer plans to get the drill bit spinning at its priority Cane Creek Well prospect, where it’s hoping to convert a large chunk of the project’s exploration target into JORC-compliant indicated and inferred resources.
Specifically, Anson will point the drill rig at a structure known as a Mississippian brine aquifer, which boasts a lithium-rich zone between 100 and 250 metres thick.
Investors won’t have to wait long before the program kicks off: Anson plans to get the drill in the ground as soon as it has completed a work program at the Long Canyon Unit 2 Well.
Eastern and western expansion strategy
With the key government approvals now in place, Anson is free to proceed with its planned resource upgrade.
The expansion plan is described as a two-pronged approach that marries an eastern and western strategy, designed to materially increase and upgrade Paradox’s lithium resource.
Moving ahead, Anson’s strategy will focus on:
- increasing the existing JORC 2012 estimates both vertically and horizontally at existing targets across the Paradox Project area; and
- defining resources at new claims to be added adjacent to the Paradox Project.
The current drill program at Long Canyon and upcoming drilling at Cane Creek form part of the explorer’s "eastern" expansion strategy.
About Anson
Anson Resources is a junior mineral resources company, with a portfolio of minerals projects covering demand-driven commodities.
Its core asset is the Paradox Lithium Project in Utah, where Anson is determined to develop a lithium production operation.
The company’s goal is to create long-term shareholder value by discovering, acquiring and developing natural resources that meet the demand of tomorrow’s new energy and technology markets.