Yellow Cat Vanadium-Uranium Project
The Yellow Cat Project is located 30km north of the city Moab, in the Thompson District of Utah, USA. The Project consists of two separate areas: the Yellow Cat claims and the Yellow Cat West claims.
The Project is considered prospective for uranium and vanadium due to the high historic grades of mineralisation present within the Project area. The Project is located in a region increasingly sought-after by uranium exploration companies, and is approximately 40kms from Anson’s core asset, the Paradox Lithium Project. This provides the opportunity to leverage the Company’s investment and experience in the area.
The Yellow Cat Project is located in close proximity to the White Mesa Mill, the only conventional, fully licensed and operational uranium/vanadium mill in the USA. The mill is within trucking distance southeast of the Project.
Plan showing the Yellow Cat claims and inferred mineralised trend.
Exploration
Previous surface outcrops and ore pad grab samples returned high-grade assay values of up to 87,600ppm uranium (U) (10.33% U3O8) and 143,500ppm vanadium (V) (25.61% V2O5). A summary of the results of the elemental values and the more common metal oxides are shown in the table below.
| Location ID | Northing | Easting | Sample ID | U3O8 (%) | V2O5 (%) | Comments |
| YC2 | 4,299,798 | 627,312 | YC20007 | 6.65 | 4.69 | Exposed mineralisation, UG workings |
| YC20008 | 10.33 | 2.46 | ||||
| YC20010 | 0.94 | 23.92 | ||||
| YC3 | 4,301,989 | 634,173 | YC20004 | 3.27 | 5.87 | Exposed mineralisation, UG workings |
| YC4 | 4,299,789 | 627,312 | YC20014 | 1.43 | 1.77 | Ore pad grab samples |
| YC8 | 4,300,420 | 627,803 | YC20022 | 1.07 | 10.16 | Exposed mineralisation, UG workings |
| YC10 | 4,302,105 | 634,215 | YC20006 | 0.86 | 14.57 | Exposed mineralisation, UG workings |
| YC11 | 4,302,017 | 633,665 | YC20012 | 0.05 | 25.61 | Exposed mineralisation, UG workings |
Selected assay results for Uranium and Vanadium at Yellow Cat.
Notes:
- Underground sample location coordinates are based on location of the closest underground adit. Ore pad grad samples location coordinates are for the ore pad sampled.
- Conversion of uranium (U) to uranium oxide (U3O8) is by factor of 1.179.
- Conversion of vanadium (V) to vanadium oxide (V2O5) is by a factor of 1.785.
Yellow Cat Project Background
Uranium and vanadium mineralisation have been identified within five sandstone layers of the Morrison Formation within the Project area. The formation consists of; the lower Salt Wash Sandstone and the upper Brushy Basin Shale and averages 170m in thickness.
Four major sandstone lenses are recognised in the Salt Wash Member and one ore lens in the Brushy Basin Member.
In the Yellow Cat area, the uranium and vanadium deposits occur in all four sandstone lenses of the Salt Wash Member, and considerable amounts of ore have been produced from the basal sandstone of the Brushy Basin Member. All the deposits discovered in the Brushy Basin Member are near surface and characterised by oxidised minerals.
The ore occurs as interstitial material in the sandstone and as coatings on sand grains and pebbles. Coatings of secondary uranium minerals occur along fractures within ore deposits. High concentrations of uranium and vanadium-bearing minerals are commonly associated with carbonaceous material of various types.
Competent Person’s Statement
The information note above that relates to exploration results and geology for the geological projects is based on information compiled and/or reviewed by Mr Greg Knox, a member in good standing of the Australasian Institute of Mining and Metallurgy. Mr Knox is a geologist who has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity being undertaken to qualify as a “Competent Person”, as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Knox has reviewed and validated the metallurgical data produced by Lilac Solutions and consents to the inclusion in this announcement of this information in the form and context in which it appears. Mr Knox is a director of Anson and a consultant to Anson.
Forward Looking Statements
Statements regarding plans with respect to Anson’s mineral projects are forward looking statements. There can be no assurance that Anson’s plans for development of its projects will proceed as expected and there can be no assurance that Anson will be able to confirm the presence of mineral deposits, that mineralisation may prove to be economic or that a project will be developed.