Anson Resources' (ASX:ASN) wholly owned Utah based subsidiary UV1 Minerals was granted approval for its notice of intent application from both the US Department of the Interior, Bureau of Land Management and the Utah Division of Oil, Gas and Mining, Minerals Division to start exploration drilling at its Yellow Cat uranium and vanadium project in the Thompson District, according to a Monday Australian bourse filing.
The company said drilling will be conducted to depths ranging from 12 meters to 40 meters, with a total of about 1,000 meters to be drilled including diamond coring, the filing said.
Anson plans to drill the mineralized trend from the Windy Point and McCoy Group mines in the east to the Cactus Rat Group in the west and has collected samples from the passageways of these mines, confirming that they contain high grades of both uranium and vanadium.
The company's shares were down almost 2% in recent Monday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.