Anson Resources Ltd (ASX:ASN) has been given the green light for its western resource expansion drilling program at the Paradox Lithium Brine Project in Utah.
The Department of Interior’s Bureau of Land Management (BLM) gave its consent for Anson to re-enter the project’s Mineral Canyon Fed 1-3 and Sunburst 1 wells as part of its western resource expansion strategy.
Anson plans to update its JORC resource by converting its existing ore and exploration target into higher confidence indicated and inferred resources.
Beyond that, there may be scope for a further resource update involving the land west of the Sunburst and Mineral Canyon wells.
As a result, Anson has redefined its resource area of interest, as outlined in magenta below:
The lithium brine stock recently completed a resource expansion program at the Cane Creek well, with results piqued to trigger a JORC resource upgrade in the near term.
New exploration target
Based on its work program, Anson has upgraded its brine exploration target for the western strategy to a 2.10 billion to 2.56 billion tonnes range, anticipated to grade between 108 and 200 parts per million (ppm) lithium and 2,000 to 3,000 ppm bromine.
Importantly, this target does not include the additional clastic zones discovered in the recent Cane Creek 32-1 well drilling, meaning there’s further upside beyond the target’s scope.
The new exploration target draws on data from previous drilling programs for oil and gas, as well as drill results from Anson’s own exploration programs.
It also includes parameters from the recent JORC resource upgrade, and a third-party contractor has collated all the information to deliver the brine target.
Once it has re-entered the Sunburst and Mineral Canyon wells and confirmed the western lithium-rich brines, Anson can increase its area of interest to 3 kilometres.
This would mean most of the project area would be classified as an indicated resource, while the newly pegged claims would reach indicated or inferred status.
Anson will continue to update the market as it progresses the key expansion program.
Read more on Proactive Investors AU
