Anson Expands Paradox Lithium Project and Advances Green River Lithium Project
Diversified minerals development company, Anson Resources Limited (ASX: ASN), has released its quarterly activities report, highlighting significant developments in its flagship Paradox Lithium Project (Project) and Green River Lithium Project in Utah, USA.
Expansions and Design Studies
Anson has expanded its Paradox Lithium Project by adding 586 claims that abut the north-western edge of the project area. Worley Group Inc. has been appointed to carry out Front End Engineering and Design Study for the proposed lithium carbonate processing plant.
Proposed Strategic Acquisition
Post the June quarter, Anson is set to purchase a lithium brine project from Legacy Lithium Corp in the Paradox Basin. The acquisition will result in the Paradox Lithium Project becoming one contiguous mineralised block with an 8% increase in land area, providing 231. 35 km2 of total land area.
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Innovative Landholding and Access
Anson has also signed a Letter of Intent for the strategic acquisition of 140. 39 acres of land for the Green River Lithium Project's proposed future mineral extraction and processing plant. The site provides easy access to the national rail network, interstate road system, gas, power infrastructure, and the Green River. The acquisition also includes water, oil, and gas mineral rights.
Due Diligence and Financials
Anson is undertaking a Geotechnical Engineering Study for the proposed acquisition of the Green River Lithium Project. The study consists of core drilling, shallow trenching, and geophysical surveys. The company raised $1. 7 million via the exercise of listed options ASNOC and ASNOD, with a strong balance sheet of $38. 6 million cash on hand at the end of the quarter.
Anson's quarterly activities update demonstrates the company's steady progress in expanding and developing its Paradox and Green River Lithium Projects. The company's strategic acquisitions, design studies, and geotechnical assessments underscore its commitment to significant lithium production in Utah.
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#ASX:ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
