Anson Resources has disclosed a substantial historical uranium and vanadium resource at its Yellow Cat Project in Utah, based on extensive 1950s drilling data, with plans for modern exploration and resource validation in 2026.
- Historical resource estimate of 56,850 tons at 0.24% U3O8 and 1.47% V2O5
- Resource based on 1,721 drill holes from 1951-1954 by US government agencies
- Non-JORC compliant historical estimate requiring reclassification
- Anson confirms high-grade mineralisation through recent sampling
- Planned exploration and resource re-estimation scheduled for Q2 2026
Historic Resource Revealed
Anson Resources Ltd (ASX – ASN) has announced a significant historical mineral resource estimate for its Yellow Cat Uranium-Vanadium Project located in Utah, USA. The estimate totals 56,850 tons of mineralised material grading 0.24% uranium oxide (U3O8) and 1.47% vanadium oxide (V2O5). This resource is derived from extensive drilling campaigns conducted in the early 1950s by the U.S. Bureau of Mines and the U.S. Geological Survey.
Legacy Data and Modern Context
The historical resource is based on a remarkable dataset of 1,721 drill holes, including 995 diamond drill holes and 726 reverse circulation holes, covering over 220,000 feet of drilling. Despite the robustness of this dataset, the resource estimate is not compliant with the modern JORC Code 2012 standards, which govern mineral resource reporting in Australia. Anson acknowledges that a competent person has not yet verified the historical data under these standards, and further evaluation may alter the confidence in the resource.
Nonetheless, the company’s recent exploration programs have confirmed the presence of high-grade uranium and vanadium mineralisation within the sandstone units of the Morrison Formation, consistent with the historical data. Rock chip samples have returned assay values as high as 10.33% U3O8 and 25.6% V2O5, underscoring the project's potential.
Path Forward – Exploration and Validation
Anson plans to commence further exploration activities in the second quarter of 2026, including drilling programs designed to verify and update the historical resource estimate. These efforts will be funded from the company’s working capital. The objective is to re-estimate the resource in accordance with the JORC Code 2012, providing a modern and compliant resource classification that could underpin future development decisions.
The Yellow Cat Project sits within a historically productive uranium and vanadium mining district, with mining activity dating back to the late 1800s. The district produced significant quantities of ore during its peak years, lending further credence to the project's economic potential.
Technical and Geological Insights
The mineralisation occurs predominantly in thick, narrow sandstone lenses interbedded with red mudstone, containing organic material and limonite staining. Both oxidised near-surface and unoxidised deeper deposits have been identified. The uranium and vanadium minerals are found as coatings on grains, replacements in clay seams, and fillings in voids, reflecting a complex but well-understood geological setting.
Anson’s technical team, including competent persons from SRK Consulting and company directors, have reviewed the historical data and confirm its accuracy as a representation of the available information. However, the company cautions that the historical resource remains subject to verification and reclassification.
Bottom Line?
As Anson Resources prepares to validate and modernise its historical resource, the market will be watching closely for confirmation of the Yellow Cat Project’s true potential.
Questions in the middle?
- Will the upcoming 2026 drilling confirm the historical resource under JORC standards?
- What are the economic implications of the uranium and vanadium grades for future development?
- How will Anson balance exploration costs with potential resource upgrades in a volatile market?