Anson Resources Enters Agreement to Purchase Green Energy Lithium Project in Paradox Basin, Utah
Anson Resources Limited (ASX: ASN, ASNOD) has announced that it has entered into an agreement to purchase the Green Energy Lithium Project from Legacy Lithium Corp in the Paradox Basin in south-eastern Utah, USA. The acquisition will result in Anson's Paradox Lithium Project becoming one contiguous mineralised block, increasing the land area by 8% to a total of 231. 35 km2. The Green Energy Lithium Project comprises 208 placer claims covering 16. 85 km2 (4,160 acres) that abut the Paradox Project.
The area also contains historic oil and gas wells, 18 of which are within the project, with three of them having recorded lithium values of up to 173ppm. Anson plans to utilise the modeling data from these wells to upgrade the JORC mineral resource for the Paradox Lithium Project.
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The acquisition is also expected to increase the exploration target by 14%. Anson Resources is a mining and exploration company that has been focused on developing and mining lithium deposits to meet the increasing demand for lithium-ion batteries used in electric vehicles.
The Green Energy Lithium Project has strong potential to deliver an increase in the existing JORC Mineral Resource estimate at Paradox without the need for further drilling. Anson Resources has lodged a Plan of Operation and an Application to Drill with the Bureau of Land Management and the Utah Department of Oil, Gas and Minerals (UDOGM) to re-enter the Cane Creek Fed 11-1 well that was previously drilled in the project.
"We are excited to announce the acquisition of the Green Energy Lithium Project, which consolidates our position in the Paradox Basin and provides us with a significant increase in the land area. We believe that this acquisition has the potential to upgrade the current JORC estimate for the Paradox Lithium Project," commented Anson Executive Chairman, Bruce Richardson.
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#ASX:ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
