Anson Resources (ASX:ASN) reports a ‘major’ increase in lithium grades following an ongoing resource expansion drilling campaign at its Paradox Lithium Project in Utah, US.
Ongoing drilling operations at the Clastic Zones, situated within the hosted Long Canyon No.2 well, has returned Li grades of up to 70% higher than the previously reported assays.
Key results include:
- 103ppm Li, 1,940pm Br and 662ppm B in Clastic Zone 33 (11ft thick)
- 189ppm Li, 3,576ppm Br and 1,131ppm B in Clastic Zone 29 (18ft thick)
- 191ppm Li, 3,862ppm Br and 1,123ppm B in Clastic Zone 19 (38ft thick)
- 126ppm Li, 2,504ppm Br and 760ppm B in Clastic Zone 19 (46ft thick)
The company also notes that these latest results indicate that the lithium grades increase from north to south within the project area.
In addition, Anson announces that its planned upgraded JORC Indicated and Inferred Resource is set to be confirmed in the future and will include the thicker Mississippian Units (187ppm Li, 3,793ppm Br).
There is additional potential for further resource expansion within the western areas of the project
It is also reported that there is additional potential for further resource expansion within the western areas of the project by re-entering historic holes that are currently classified as Inferred Resources or exploration target due to lack of data.
Expansion into this western area has the potential to deliver a ‘significant’ increase in the block model resource tonnage and grades for the additional Clastic Zones, where no assays have been recorded.
The Paradox Lithium Project covers a total land tenure of 95km-square.
The project currently boasts a JORC compliant Mineral Resource Estimate (MRE) of 186,000 tons LCE and utilizes direct lithium extraction processes.
With the resource expansion drilling still ongoing, Anson announces that it remains focused on delivering its updated JORC MRE for the project and will be included in the upcoming Definitive Feasibility Study (DFS).
Anson is an ASX-listed junior mineral resources company, with a portfolio of minerals projects in key demand-driven commodities. Its core asset is the Paradox Lithium-Brine
Project in Utah, in the US.
Anson is focused on developing the Paradox Project into a significant lithium producing operation. The company’s goal is to create long-term shareholder value through the discovery, acquisition and development of natural resources that meet the demand of tomorrow’s new energy and technology markets.
Images: Anson Resources Ltd