Lithium Discovery in Drilling Fluids at Mt Fuel-Skyline Geyser 1-25 Well
Anson Resources has made a significant discovery at its Green River lithium project in Utah, with commercial lithium grades detected in drilling fluids at the Mt Fuel-Skyline Geyser 1-25 well. The findings indicate a lithium concentration of 148ppm in the heavy drilling fluids, which was recorded after drilling through the top of the Mississippian units. This discovery is an important step forward for the company as it continues to explore and expand its lithium resources.
During the drilling process, an amount of chloride brine was found to have entered the heavy drilling fluids. While brine samples are yet to be assayed, similar work conducted at the Bosydaba #1 well previously showed 138.9ppm Li in drilling fluid assays. At that site, the brine samples eventually came close to the drilling fluid assays at 138ppm Li. This suggests that the current findings could lead to similar results once the samples are fully analyzed.
Potential Pay Zone Identified Through 3D Modelling
3D modelling of the Mt Fuel-Skyline Geyser 1-25 well indicates the presence of a potential pay zone that could be up to 660ft thick. This information will play a crucial role in future resource work at the Green River project. The data collected from the drilling, including fluid assay results and thickness estimates from the 3D modelling, has already been sent to a third-party company for consideration in an updated JORC resource estimate.
The company has also shared details of the Bureau of Land Management additional claims area that were added to the Green River Lithium Project. These additions provide further opportunities for exploration and resource expansion.
Executive Highlights Company’s Efforts
Bruce Richardson, executive chair and CEO of Anson Resources, emphasized the company’s dedication to increasing the JORC Resource estimate at the Green River Lithium Project. “Anson has been working hard on increasing the JORC Resource estimate at the Green River Lithium Project in several aspects, and we are beginning to see the results of those efforts,” he said.
The drilling program faced challenges, including the depth of the well and geological complexities caused by the garben and pressure in the area. Despite these difficulties, the team successfully pivoted to drilling a new side-tracked well and collected a sample of brine from 9239ft. This achievement highlights the skills and experience of the Anson geological, drilling, and management teams.
Expanding the Skyline Factor
Skyline is part of the next stage at Green River, where Anson aims to add to its current JORC resource of 103,000t lithium carbonate equivalent. The company has identified a larger exploration target of 623,000t up to more than 1.18Mt of lithium carbonate equivalent. This interpretation covers the Mississippian units across the project area, including the historic Mt Fuel-Skyline Geyser well.
Recent efforts have also seen Anson successfully producing 99.4% pure battery-grade lithium carbonate from its Green River brine. This development underscores the company’s progress in refining its extraction processes.
Broader Implications and Future Prospects
The Green River project is one of the most advanced well brine lithium projects on the market. Anson’s projects in the broader Paradox Basin have attracted corporate and institutional backing. For instance, battery maker LG recently entered into a definitive offtake agreement for 4000tpa of battery-grade lithium carbonate from Anson subsidiary A1 Lithium, with an initial five-year term expected to start in 2028. There is also potential for an extension of another five years.
Additionally, Anson was among the early recipients of US Government recognition, securing a non-binding letter of interest in September 2024 for up to US$330m in funding from the US Export-Import Bank. These developments highlight the growing confidence in the company’s capabilities and the potential of its lithium projects.
Anson has also completed a drilling campaign at the Yellow Cat project, located along strike from an historical uranium/vanadium resource. This further demonstrates the company’s commitment to exploring multiple opportunities within the region.
