Grand County—Anson Resources Limited is pleased to announce that it has entered into a Standstill Agreement with Voyageur Industrial Minerals Ltd, which provides Anson with the ability to earn up to a 70 percent interest in the high quality ULI Lithium Brine Project in Utah.
The agreement is subject due diligence, which upon completion, will see the two parties enter into a formal Joint Venture Agreement. Anson, based in Western Australia, will also retain the option to purchase the remaining 30 percent of the Project, which if exercised will see Voyageur retain a 3 percent gross override.
The ULI Lithium Brine Project is located near Moab, in Grand County, and consists of 89 mineral claims covering 720.3 hectares. The ULI Project is located 15km west of Moab, and 4km northwest of Intrepid Potash’s Cane Creek Operation.
Anson’s Managing Director, Bruce Richardson, said, “The Anson Board is pleased to be entering into this agreement with Voyageur Industrial Minerals, as we view the ULI Lithium Brine Project in Utah as a potentially highly complementary and strategic opportunity for our shareholders.
“The ULI Lithium Brine Project compares favourably to a number of well-known lithium brine projects globally, and together with the Company’s Ajana Graphite Project in Western Australia, will strengthen Anson’s position as an emerging New Energy development company. Anson is well positioned to leverage its strong relationships throughout China, and will look to establish partnerships with key operators in the expanding New Energy sector, which is being fuelled by the continued growth in the lithium ion battery market.
“Furthermore, Anson’s near-term focus will be on completing the required due diligence work on the ULI Project in Utah, and to commence follow-up exploration drilling at the Ajana Graphite Project. The Company looks forward to providing shareholders with further updates in due course."