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Anson Resources stakes vanadium claims in Utah

The new Yellow Cat Project is prospective for both vanadium and uranium.

High grade vanadium and uranium mineralised sample from the Yellow Cat Prospect
A high-grade vanadium and uranium mineralised sample from Yellow Cat

Anson Resources Ltd (ASX:ASN) has staked 396 lode claims in the Yellow Cat Mining District in Utah.

Notably, assays sampled from the 3,307-hectare area staked graded up to 13.1% vanadium or 23.38 vanadium pentoxide.

Anson’s priority remains its Paradox Brine Project but the low-cost opportunity presented itself and the company seized it.

READ: Anson Resources assays 253ppm lithium in brine from Paradox project in US

Anson’s chairman and CEO Bruce Richardson said: “The identification and successful negotiation of the purchase of the vanadium claims are a result of the network of contacts that have been developed in the mining industry in Utah.

“While the focus of Anson remains on the development of its Paradox Brine Project and in particular the production of lithium carbonate, it remains interested in new opportunities and in adding to its portfolio of investment in minerals that well be in high demand as the new energy industry continues to develop.

“The Yellowcat Project presents an opportunity to expand the range of minerals that the company can supply, increasing shareholder value.

“The extremely high assay result of V2O5 in the samples that were taken are of particular interest and warrant an exploration program to measure the extent of the ore body.”

Due diligence sampling confirms vanadium and uranium

Production of uranium-vanadium ore in the district from 1935 to 1954 totalled about 42,000 short tons that averaged about 0.30% U3O8 and 1.80% V2O5.

During the due diligence on the project rock chip samples were collected and sent for assay at certified labs in both America and Australia.

Quick facts: Anson Resources Ltd

Price: 0.034 AUD

Market: ASX
Market Cap: $20.4 m

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