Morning Trading February 3, page-2

ASN



Anson Resources secures strategic expansion of Paradox Lithium Brine Project, four new blocks added

Anson has doubled down on the Paradox geology, buying up more tenure with geological units prospective for lithium brine as the company looks to upgrade the project's measured resources.



Anson Resources Ltd (ASX:ASN) has added a further 8.1 square kilometres of lithium prospective tenure to its Paradox Lithium Brine Project in Utah, US, targeting geological formations and units from which lithium brine has previously been recovered.

The four new strategic blocks are immediately adjacent to the project, considered state ground controlled by the Utah School and Institutional Trust Lands Administration (SITLA) and granted to Anson by the Utah Government.

Resource expansion plans

Anson is focused on delivering a resource estimate upgrade for the Paradox project in the first half of 2022, designed to support feasibility studies and develop the project into a substantial lithium-bromide producing operation.

It is hoped that the new tenure will add new resources to the proposed upgrade, the key focus of which will be the re-entry of the Long Canyon No.2 well on the eastern side of the project.

Anson hopes to upgrade the existing inferred resource in the clastic zones hosted at Long Canyon, converting them to the indicated category alongside well Clastic 31 in the Paradox Formation.

The Paradox Formation and Mississippi Units within the project and new tenure area will be the target of further exploration, as these geological features have been shown to host lithium brine in other areas of the project.

Anson will provide updates on its resource expansion program as the details are finalised and the company prepares to implement it.
About Anson Resources

Anson Resources is developing its flagship Paradox Basin Brine Project in southern Utah in the US for the recovery of valuable chemicals from a unique salt brine resource.

Besides the brine project, Anson is also exploring base metal projects in Western Australia with a strong focus on the Bull Project, which is along strike of Chalice Mining’s high-grade nickel-copper-PGE Julimar discovery