Anson Resources Ltd. has upgraded its JORC mineral resource estimate at its Green River lithium project in Utah, US by 650 per cent.
The upgrade is based on new drilling data from the Bosydaba #1 and Mt Fuel-Skyline wells and catapults the project’s total resource to a new level of significance for the lithium market.
The indicated resource saw a 863 per cent jump to 183,000 tonnes of lithium carbonate equivalent (LCE), while the inferred resource rose by 602 per cent to 590,000 tonnes.
The results confirm that the brine-rich Mississippian Leadville Limestone units are consistently mineralised across a 25-kilometre span.
Assays from the Mt Fuel-Skyline well returned grades of 148ppm lithium, higher than previous wells, validating the company’s theory that concentrations increase near major fault lines.
Anson Resources CEO Bruce Richardson said the massive upgrade was a significant step forward for the development of Green River.
“Our objective is to achieve an indicated and inferred JORC resource estimate of over one million tonnes of LCE at Green River, which we are close to achieving,” Richardson said.
Beyond just the volume of lithium, the technical data revealed high pressure and temperatures within the aquifers.
In a major win for future economics, these conditions allow the lithium-rich brine to flow almost to the surface from depths of over 9,000 feet, which could significantly lower extraction costs and simplify processing plant design.
Anson is already moving to expand its footprint even further. The company is currently lodging applications for additional mineral rights in an expanded Area of Interest.
If successful, management expects to hit their million-tonne target through resource modelling alone, without the need for further expensive exploration drilling.
The Green River lithium project is located within a mature oil and gas district with historical oil wells recording supersaturated brines.
Historical data for the Green River project area is more robust than many lithium exploration targets due to the Paradox Basin’s long history of oil and gas production.
Numerous well records and geophysical logs are readily available for the project area.