Diversified exploration company Anson Resources (ASX:ASN) has been added to the Global X Uranium ETF as a non-pure play uranium stock.
Global X Uranium ETF provides investors access to a broad range of companies involved in uranium mining and the production of nuclear components, including those in uranium exploration, mining, extraction, refining or manufacturing of equipment for the uranium and nuclear industries.
Exchange Trade Funds, or ETFs, are a basket of investment assets with similar economic characteristics. With total assets under management of US$1.716 billion, the Global X Uranium ETF is the largest in the uranium sector.
With total assets under management of US$1.716 billion, the Global X Uranium ETF is the largest in the uranium sector
Anson is developing the Yellow Cat Uranium Project near Thompson Springs in Utah. It has conducted several exploration programs which consist of geological mapping, locating historical drillholes and adits, as well as XRF sampling and later rock sampling and assaying.
Anson notes, however that it remains focused on the development of the Paradox Lithium Project.
Anson’s Yellow Cat Project is located 30 km north of Moab, in the Thompson District, Grand County Utah. There are 2 separate areas: the Yellow Cat claims and the Yellow Cat West claims.
The Yellow Cat Project is considered prospective for the development of both uranium and vanadium due to the high historic grade mineralisation present on the claims. The project is located in a region that is increasingly sought-after by companies exploring for uranium, supported by the recent increase in uranium prices.
Surface outcrops and ore pad grab samples have previously been submitted for laboratory analysis.
High grade assay values of up to 87,600ppm uranium (U) (10.33% U3O8) and 143,500ppm vanadium (V) (25.61% V2O5) were reported. A summary of the results of the elemental values and the more common metal oxides can be found in Anson’s ASX announcement 29 October 2021.
Anson is sourcing quotes from contractors to carry out the surveys required for Yellow Cat Project to obtain approvals for exploration drilling programs. The aim of the exploration programs is to confirm existing results and to extend the known mineralisation along strike and down dip.
Write to Adam Orlando at Mining.com.au
Images: Anson Resources Ltd & iStock
