Anson Resources Ltd (ASX:ASN) has taken a step toward converting its JORC-compliant mineral resource estimate for the Paradox Basin lithium projects into ore reserves with the finalisation of a 3D geological model.
The model covers the regions host to both the Paradox and Green River lithium projects in the basin and is actively being imported into a numerical Hydrogeological Flow Model that will be used in converting the JORC inferred resources into the indicated category and from there into JORC ore reserves.
Paradox currently holds an estimated 1.04 million tonnes of lithium carbonate equivalent (LCE). Green River is still awaiting its maiden resource but Anson is pursuing an exploration target of between 2.0 billion and 2.6 billion tonnes of brine grading between 100-150 parts per million lithium and 2,000-3,000 ppm bromine.
Next steps to project funding
Anson said producing an ore reserve for its Paradox projects would be an essential step toward obtaining project funding.
The company’s next move will be to import the 3D geological model into third-party proprietary modelling software to create a numerical brine flow model for the project areas.
ASN said this model would facilitate project planning, permitting, operations and ore reserves estimation, with data feeding into front-end engineering and design (FEED) studies being pursued with Worley and Anson’s technology providers.
The brine flow model will be constructed in two phases:
Phase 1 - Conceptual Model Development
- Compile a library of all relevant hydrogeology site conditions,
- Import 3D geological model,
- Develop regional conceptual site model.
- Develop a preliminary flow model,
- Sensitivity analysis to quantify the calibrated model,
- Forecasting and simulation.