Junior Anson Resources said that it was accelerating engineering work for the Paradox lithium project, in Utah, to take advantage of the continued rapid development of the lithium product market.
The ASX-listed company has appointed contractor Worley to conduct a detailed feasibility study (DFS) on the greenfield lithium project. The outcome of the project will be a final total-installed cost estimate that will allow Anson to move forward into the detailed design and construction phase of a lithium production plant.
The DFS will incorporate results from two production wells and two re-entry exploration wells, scheduled for drilling in the first quarter of next year. The planned work to produce an updated Joint Ore Reserves Committee-compliant resource estimate will be conducted concurrently with the engineering study for the lithium plant.
The engineering study is targeted for completion in the second quarter of 2022.
“This is a very exciting time for Anson, with drilling of two production wells and the re-entry of two existing wells expected to commence in early 2022, and the robust long-term outlook for lithium carbonate based on global acceleration towards decarbonisation, electrification of vehicles and energy storage,” said Anson executive chairperson and CEO Bruce Richardson.