Get 40% Off
☕ Buy the dip? After losing 17%, Starbucks sees an estimated 20% upside. See the top Undervalued stocks!Unlock list

Anson Resources plans to sample historical oil well to test Green River supersaturated brines

Published 26/09/2023, 10:38 am
Anson Resources plans to sample historical oil well to test Green River supersaturated brines

Anson Resources Ltd (ASX:ASN) has set the wheels in motion to prove up a mineral resource at the Green River Lithium Project, an exploration target 50 kilometres northwest of its flagship Paradox Lithium Project in Utah, USA.

The company plans a drilling program to re-enter the Mt Fuel-Skyine Geyser 1-25 well to sample the thick Mississippian units and the Pennsylvanian clastic horizons to confirm the supersaturated brines are lithium-rich.

This well pad was previously drilled to a total depth of 9,508 feet and was recorded to contain supersaturated brines.

Plans submitted

To that end, Anson has submitted a plan of operation to the USA Department of the Interior, Bureau of Land Management (BLM) and a notice of intent (NOI) to the Utah Division of Oil, Gas and Mining (UDOGM), Minerals Division.

An application permit to drill (APD) was also submitted to UDOGM due to the depths of the wells.

The exploration program will have minimal new ground disturbance as the existing drill pad needs only to be reinstated.

Anson’s use of existing areas is part of its aim to develop a sustainable project by minimising the impact on environmental, social and recreational activities.

A conceptual model for the lithium exploration program at Green River.

Large exploration target

The Mt Fuel-Skyine Geyser 1-25 well is located east of Green River, along plateaus surrounded by canyons and ridges.

The targeted clastic zones and the Mississippian units have no recorded historical lithium and bromine assays but supersaturated brines have been intercepted during historical oil and gas drilling.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Due to this, the Green River Lithium Project is classified as an exploration target based on data generated from previous drilling programs for oil and gas, drill results from Anson’s exploration programs as well as parameters from Paradox’s JORC resource.

Green River has a conceptual target of 2.0 billion tonnes to 2.6 billion tonnes of brine, grading 100-150 parts per million (ppm) lithium and 2,000-3,000 ppm bromine, which Anson hopes to convert into indicated and inferred resources.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.