A detailed review of Anson Resources Ltd (ASX:ASN)'s newly acquired Green River Lithium Project in the Paradox Basin in Utah, USA, has confirmed highly favourable geological characteristics and high-level prospectivity, further enhancing the project’s exploration and development potential.
Anson expanded its portfolio of lithium brine projects in the Paradox Basin with the addition of the Green River Project in January. The company is now seeking to develop Green River in parallel with its more advanced Paradox Lithium Project, which is just 50 kilometres to the northwest.
The Green River Project area, which spans 106.2 square kilometres, is surrounded by key existing infrastructure including the national rail network, interstate road system, gas and power, and access to the Green River. It is close to the town of Green River.
Similar to Paradox Project
Anson executive chairman and CEO Bruce Richardson said, “Anson is excited about the prospects for the Green River Lithium Project.
"Apart from the world-class infrastructure that surrounds the private property that the company recently purchased and the simplified approval process that goes with that, the geology studies and modelling that have been done indicate similar characteristics to the Paradox Lithium Project, including high pressure, porosity and permeability.
“Anson has extended the flow model from the Paradox to the Green River area and has identified three faults that may act as traps for the concentration of lithium, acting in a similar way to Robert’s Rupture at the Paradox.
"The company is preparing an exploration program to test this theory by obtaining brine samples from the Green River Lithium Project area for assay and JORC resource calculation as the next step in developing this opportunity further creating shareholder value.”
Project review highlights
The detailed project review of the Green River asset was undertaken as part of Anson’s ongoing development plans for the project. The review incorporated research of drilling logs and other databases along with the project area’s geological characteristics.
Most notably, the review indicates that the Green River Project compares favourably to the geological characteristics of Anson’s core asset, Paradox Lithium Project.
A large number of historical oil and gas drilling records in the Green River region has helped Anson gain a strong understanding of the region’s geology.
These drilling logs and other geological studies indicate that the Clastic zones and Mississippian units are continuous between the two projects and are thicker in some areas at Green River with up to 204.8 metres (672ft) recorded in the Mississippian Units.
The geological structures at Green River contribute to high pressure, increased porosity and increased permeability — each being strong indicators of the potential for low extraction costs and beneficial ESG outcomes.
Downhole geophysics has confirmed high pressures at Green River, as is the case at Paradox, with the highest recorded pressure of 5,500psi recorded during a drilling program into the Mississippian Units in close proximity to the Green River Project Area.