Anson unveils Paradox lithium resource

HAVING earlier this month demonstrated testwork showing battery quality lithium carbonate could be produced from brine found at the Paradox project in Utah, Anson Resources has now come up with a maiden resource estimate.
Anson unveils Paradox lithium resource Anson unveils Paradox lithium resource Anson unveils Paradox lithium resource Anson unveils Paradox lithium resource Anson unveils Paradox lithium resource

The 118,000t of contained lithium carbonate is estimated within 128.5 million tonnes at 173ppm lithium (plus bromide, iodine and boric acid), with a further 30-46Mt seen as an additional exploration target.

Prior to the maiden resource estimate, Anson had an overall exploration target of 85-170Mt at 200-500ppm lithium.

The current estimate is seen as providing a "solid platform to advance a scoping study".

Anson wants to build a pilot plant in 2019 and operate it through to the third quarter of 2020.

The company is currently completing a A$1.65 million placement "from its strategic investor" Chia Tai Xingye International.

The Paradox brine project is located within a mature oil and gas district, and according to Anson, the brines at the project have historically been cited as having high published concentrations of lithium.

Shares in Anson were unchanged at 6c in morning trade, capitalising the company at $31 million.

The stock was at 15c 12 months ago.