- ASN acquires lithium project in Utah, US
- Potential for a near-term resource upgrade, leveraging the presence of 18 historic oil and gas wells with recorded lithium values
- Anson submits Notice of Intent to re-enter the Cane Creek Fed 11-1 well
- Aim to upgrade the JORC Resource and unlock project’s full potential.
- Anson Resources (ASN) trades 3.2% higher at 16 cents as of 1:00pm AEST.
Anson Resources (ASN) has entered into an agreement to acquire a lithium project in the Paradox Basin, Utah, US.
The acquisition will consolidate the project area and provide the potential for a near-term resource upgrade.
This strategic acquisition will consolidate the Paradox lithium project and bring several benefits that include the expansion of the project area.
Two hundred and eight placer claims covering 16.85 square kilometers will be lodged, which will underpin the increase of total land area at the Paradox Lithium Project by 8 per cent to 231.35 square kilometers.
Anson has also submitted a Notice of Intent (NOI) to re-enter the Cane Creek Fed 11-1 well, providing further exploration opportunities and potential resource expansion.
The Green Energy lithium project acreage boasts 18 historic oil and gas wells, including some with recorded lithium values, offering an opportunity for resource expansion without the need for additional drilling.
The acquisition of the Project will consolidate the Paradox Lithium Project, making it a contiguous mineralised block.
This strategic positioning, adjacent to Anson’s lead asset, provides operational advantages and synergies and Anson Resources aims to upgrade the JORC Resource for the Paradox Lithium Project, leveraging the data from the historic wells and the expanded project area.
Anson Resources (ASN) Is up 3.2 per cent trading at 16 cents at 1:00pm AEST.