Shares in Australian explorer Anson Resources (ASX:ASN) went ballistic on Wednesday after it announced it had produced its first lithium hydroxide product from its Paradox project in Utah, United States.
The product, said Perth-based company, was manufactured during precipitation test work carried out by Lilac Solutions on a 1,000-litre bulk sample extracted from the free-flowing Cane Creek 32-1 well.
With this development, the Australian miner has now produced both lithium carbonate and lithium hydroxide from Paradox, its flagship project.
With this development, Anson has now produced both lithium carbonate and lithium hydroxide from Paradox, its flagship project.
The miner said it was examining different production processes to assess the best recovery and purity results from the Cane Creek brines, which will also provide the best financial returns.
Lilac’s production process uses a newly developed technology that extracts only lithium from the brine using an adsorption methodology.
Other minerals present in the brine, including boron, bromide, iodine and magnesium are not recovered using this process.
However, Anson said that Colorado-based Hazen Research has already begun a series of bench-scale experiments to examine the potential extraction and purification of boron, bromide and iodine from a Cane Creek brine sample.
The company’s first vial of lithium hydroxide product from its Paradox project in Utah. (Image courtesy of Anson Resources.)
While test work is continuing with producing battery-grade lithium products, Anson’s managing director Bruce Richardson said the company was also looking forward to Hazen’s results.
“It is considered that the extraction of these minerals may not only provide additional revenue streams but also contribute to improving the quality and recovery of lithium carbonate and/or lithium hydroxide,” he said.
Shares in the company climbed about 35% to 12 Australian cents by 1:00 PM on the news, closing at 10 cents.
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From:: Infomine