The ASX-listed battery metals producer is moving to advance the Yellow Cat project in Utah given the obvious potential to supply high-grade uranium ore to help fill existing local mill processing capacity.
Anson Resources Ltd (ASX:ASN) has confirmed high grades of uranium and vanadium from its Stage 2 exploration program at the Yellow Cat Project in Grand County, Utah, USA.
High-grade assay values of up to 87,600 ppm uranium (10.33% U3O8) and 143,500 ppm vanadium (25.61% V2O5) have been returned.
Importantly, further research was carried out to identify and locate historical information and databases covering certain portions of the Yellow Cat project that will be used to fast-track the development of the next stage, which is already underway.
“Multi-mineral/multi-revenue strategy”
Anson executive chairman and CEO Bruce Richardson said: “Anson is focused on the development of the Paradox Brine Project while at the same time continuing to make progress on other projects that it has in its portfolio as part of its multi-mineral/multi-revenue strategy.
“The recent increase in the uranium price has been expected for some time and as Anson has continued to invest in the development of the Yellow Cat Project, it is well positioned to take advantage of the renewed interest in this mineral.
“These high-grade assay results and a database that provides a detailed understanding of the geological setting, provides further opportunity to increase the project exploration target.
“The company is continuing to develop the Yellow Cat project through the next stage of its exploration program with the aim of increasing shareholder value.”
A summary of the results of the elemental values and the more common metal oxides.
Visible mineralization
Anson has submitted samples from surface outcrops, ore pads and exposed mineralization to ALS in Reno and subsequently to ALS Vancouver.
These results confirm the result from X-ray fluorescence readings (XRF) sampling of visible mineralization of the faces of the historic workings within adit walls at the Yellow Cat project
In addition, multiple occurrences of visible mineralization were observed on the faces of the historic underground workings within the project area that are still open and in excellent condition providing easy access to map the mineralization and collect samples.
Anson appointed a third party to complete a survey of mineralized outcrops, accessible historical open pit and underground mine workings, and remnant ore pads across the federal unpatented lode mining claims that comprise Anson’s Yellow Cat project.
Visible uranium and vanadium mineralization associated with high-carbon stratification and localised remobilization within historical underground workings of the Yellow Cat project.
Next steps
Anson is moving to advance the Yellow Cat project in Utah given the obvious potential to supply high-grade uranium ore to help fill existing local mill processing capacity.
The data collected to date will be utilized to refine knowledge of the local mineralization as the trend moves away from outcrop and shallow underground exposure, as well as guide refinement of drill targets for the planned drilling campaign.
Additional exploration programs will include further mapping of underground workings, downhole gamma logging of open historical drill holes to confirm historical assays and drilling of the mineralized target areas determined from previous site visits and the completed mapping.
The planned drilling program is expected to involve shallow (20 to 40 metres deep) drill holes that could be assayed for both uranium and vanadium and confirm eU3O8 values from calibrated downhole gamma logging.
Furthermore, shallow drill holes would require only a small rig to complete the program resulting in a minimal disturbance.
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