Battery metals: Anson Resources marks its territory at Utah vanadium deposit
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Anson Resources (ASX: ASN) has staked its claim at a prospective vanadium and uranium deposit in Utah.
The junior explorer said it took advantage of a “low-cost opportunity” to stake out the land package, which it will explore in conjunction with its flagship Paradox Brine lithium project.
Shares in Anson were up more than five per cent in morning trade at 7.4 cents, off a 12-month high last July of more than 16 cents.
Vanadium is viewed as an important mineral as global industries shift towards the use of batteries for energy storage.
The technology behind vanadium redox flow batteries (VRFB) allows for a much longer lifespan and improved charging capabilities.
To try and position itself for that market potential, Anson has staked 396 lode claims in Utah’s Yellow Cat mining district.
The area is considered “prospective for the development of vanadium due to the high historic grades and high ratios of vanadium over uranium present on the claims”, Anson says.
The company presented the results from its due diligence on the Yellow Cat project’s rock chip samples, which were collected and sent for assay. The samples showed vanadium mineralisation of up to 13.1 per cent.
Anson also provided an update on its Paradox Brine lithium project. The company said it “recently completed exploration drilling, and is now progressing to development of an industrial scale in-field pilot plant”.
After waiting for two years, Aura Energy (ASX: AEE) announced it’s been granted exploration licences for its gold, base and battery metal tenements in Mauritania. The company said early-stage drilling in the under-explored greenstone belts revealed good system size and elevated grades of gold, nickel and cobalt. Shares in AEE were unchanged at 1.2 cents.
Golden Deeps Limited (ASX: GED) has provided an exploration update on its Abenab vanadium project in WA. The company said “nine vanadium occurrences have been identified along the trend as well as several base metal occurrences”. Shares in GED were up to 0.4 cents in morning trade, good enough for a gain of 11.1 per cent.
And Lake Resources (ASX: LKE) climbed by more than 14 per cent to 6.3 cents after announcing the commencement of a pre-feasibility study at its fully owned Kachi lithium brine project in Argentina after securing new investor support. Kachi is ranked in top 10 global lithium brine resources, and LKI says engineering studies show potential for the establishment of low-cost production metrics.