Anson Resources Ltd (ASX:ASN) has expedited its exploration drilling program after consolidating the 8.5-kilometre interpreted uranium mineralised trend across its Yellow Cat Project in the Thompson District in Utah.
The project has delivered promising initial samples, yielding up to 10.33% uranium and 25.6% vanadium.
This comes after the acquisition of 66 new mineral claims and a preliminary discovery of a 2-kilometre east-west mineralised trend in the project's phase two exploration program.
Moving forward, diamond rigs have been identified and are on standby and drilling will kick off following the green light from regulators.
About the project
Yellow Cat Project is within the Colorado Plateau physiographic region; an area that has seen significant new interest from ASX-listed exploration and development companies due to recent increases in uranium prices, and recent industry support from the United States Government.
The US is currently the largest consumer of uranium while at the same time, domestic production of uranium is almost non-existent due to low prices and anti-competitive practices by foreign suppliers. In late 2020, the US Government approved the proposed establishment of a US national strategic uranium reserve.
The mineralisation is shallow or comes to the surface and as a result, the mineralised horizon is located above the water table which will result in shallow drilling and minimal disturbance.
Due to the nature of the mineralisation the company believes it will support continued low-cost exploration.
Plan showing the proposed exploration program within the U and V mineralized trend at the Yellow Cat Project.
Forward plan
Future exploration activities will include geophysical logging of the numerous open exploration drill holes to confirm historic uranium assays and to correlate with historic gamma ray values.
In addition to the planned vertical drilling program from surface, it is possible to use underground horizontal drill holes ('backpack' drill or similar) to test the continuity of mineralisation.
Drilling rigs suitable for this drilling program have been identified and are ready to commence upon all permits being finalised.
Read more on Proactive Investors AU
