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Anson Resources Ltd.
Summary
| Project: | Paradox Brine Project | |
|---|---|---|
| Deposit: | Paradox Brine Project | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 9/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 25-9-2018: Anson Resources Ltd. announces a Resource Estimation report for its Paradox Brine Project deposit at the Paradox Brine Project project. Updated exploration target for Paradox Brine project. Anson Resources Limited (Anson) is pleased to announce | |
| Resources: | Exploration Target: 85,000,000t - 171,000,000t of brine | |
| CP/QP: | [Overall Report]: Greg Knox (Internal) | |
| ABSTRACT: | Anson Resources Limited (Anson) is pleased to announce that A1 Lithium, a wholly owned Utah based subsidiary, has upgraded its earlier announced exploration target by 30% to a new estimate of 85 to 171M tonnes of brine, (using an estimated grade of 140 to 500ppm Li) at its Paradox Lithium Project in Utah (the Project). The increase in the exploration target is due to staking of additional claims in the area, which have increased from 983 claims to 1,317 claims (refer ASX announcement 11 September 2018). The total area of the project is now 11,373 hectares and makes A1 Lithium the major claim holder in the region with a large contiguous block over the major geological structures, such as Roberts Rupture. The Exploration Target is conceptual in nature as there has been insufficient exploration undertaken on the project to name a mineral resource. It is uncertain that future exploration will result in a mineral resource. As previously announced on 20 September 2018, the company has identified three historic holes - Long Canyon No.2, Skyline Unit 1 and Matthew Fed 1 - as providing the greatest opportunity (see Figure 1) to test the estimated exploration target. The drill targets selected (re-entries) are prioritised based on the proximity to the major geological structure (Roberts Rupture), the Cane Creek Anticline and the cross-cutting structures in the area. In addition, these wells are also close to the Long Canyon No1 well which contains the recorded 500ppm Li value. The plan below shows the Paradox Lithium Project land package and the proximity of the claims to the wells in the area that have previously been assayed for lithium. In addition, the claims that have recently been pegged (see ASX announcement dated 11 September 2018) have historical wells located on them which could be used for sampling programs or at a later date, production wells. The Roberts Rupture structure, which is thought to provide natural fracturing of the host rock allowing the flow of fluids, is located striking through the eastern claims. The western claims show areas of structures which are similar to that near the Roberts Rupture. | |
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