Energy minerals explorer Anson Resources (ASN) is making steady assessment and exploration progress at its Yellow Cat Uranium Project
Yellow Cat was exploited for uranium and vanadium ores from 1935 to 1954, with many mines and workings still open and seemingly in good condition
The company has undertaken a review of historical assays, with some highly promising uranium and vanadium mineralisation emerging from the data
The high-grade results all come from Anson-held claim blocks, and were mostly within 50 metres of the surface, lending credence to the site’s potential for exploitation
Now the historical data analysis is underway, next steps will include geochemical sampling ahead of a proposed shallow drilling program
Anson Resources closed Tuesday’s session 4.2 per cent higher, with shares priced at 2.5 cents each
Energy minerals explorer Anson Resources (ASN) is making steady assessment and exploration progress at its Yellow Cat Uranium Project in Utah.
The company has undertaken a review of historical assays, with some highly promising uranium and vanadium mineralisation emerging from the data.
The history of Yellow Cat
The Yellow Cat project was exploited for uranium and vanadium ores from 1935 to 1954, with many mines and workings still open and seemingly in good condition.
The Thompson district produced around 42,000 short tons (approximately 46,300 metric tonnes) of ore, averaging grades of 0.30 per cent U3O8 (triuranium octoxide) and 1.80 per cent V2O5 (vanadium pentoxide).
Historical drilling results delivered intercepts of up to 0.3 feet (approximately 9.1 centimetres) at 37,500 parts per million U3O8 and 3.34 per cent V2O5.
The high-grade results all come from Anson-held claim blocks, and were mostly within 50 metres of the surface, lending credence to the site’s potential for exploitation.
Next steps
Anson is planning to leverage its resources to accelerate exploration at Yellow Cat in the coming months.
The project is located within trucking distance of White Mesa Mill – the only operational uranium-vanadium mill in the U.S., and also just 40 kilometres from the company’s flagship Paradox Brine Project.
Now the historical data analysis is underway, next steps will include geochemical sampling ahead of a proposed shallow drilling program.
The recent 38 per cent increase in the uranium spot price, coupled with changes to domestic uranium development policy in the U.S., have made Yellow Cat a promising prospect for Anson.
Anson Resources closed Tuesday’s session 4.2 per cent higher, with shares priced at 2.5 cents each.
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