Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) is pleased to
announce that Anfield has engaged BRS Engineering (“BRS”) to
complete a mineral resource report for four of the nine West Slope
uranium/vanadium properties held by the Company (“West Slope”). The
West Slope properties are located in the prolific Uravan region of
Colorado.
The targeted West Slope properties are known as
JD-6, JD-7, JD-8 and JD-9, and represent a historical uranium and
vanadium resource of approximately 7Mlbs and 33Mlbs, respectively,
at the grades described below.
Corey Dias, Anfield CEO, states: “Given the
strengthening global sentiment related to the uranium market, we
are pleased to update and determine the potential economics for
four of our West Slope properties in Colorado. We believe that
these projects could serve as a critical portion of Anfield’s
long-term viable conventional uranium production – underpinned by
the Shootaring Canyon mill in Utah – as a part of its portfolio of
U.S. uranium assets.”
About The West Slope
Project
The West Slope Project, located in Montrose and
San Miguel Counties of southwestern Colorado, consist of nine
Department of Energy (DOE) leases, associated with adjacent lode
mining claims and leases, covering 6,913 acres on which past
uranium production has taken place. Between 1977 and 2006,
approximately 1.3Mlbs of uranium and 6.6Mlbs of vanadium were
produced from these mines. In 2007, Behre Dolbear was commissioned
by Cotter to produce a Technical Report for the West Slope Project
(Technical Report on Nine Properties Held by Cotter Corporation in
Montrose and San Miguel Counties, Colorado, USA, August 16, 2007).
Using available data and using a cut-off of 0.05% uranium, Behre
Dolbear estimated an in-place Measured Resource of 2.1Mt of uranium
at an average grade of 0.25% for a total of 11Mlbs of uranium and
an in-place Measured resource of 1.2Mt of vanadium at an average
grade of 1.2% for a total of 53Mlbs of vanadium.
|
Historical Resources - West Slope |
|
Intercepts greater than 0.05% U3O8 |
|
U3O8 |
V205 |
Property |
Tons (millions) |
% |
|
Pounds (millions) |
% |
|
Pounds (millions) |
JD-6 |
0.16 |
0.15 |
|
0.48 |
0.75 |
|
2.4 |
JD-7 |
0.77 |
0.26 |
|
4.0 |
1.1 |
|
17 |
JD-8 |
0.31 |
0.24 |
|
1.5 |
1.3 |
|
7.9 |
JD-9 |
0.23 |
0.24 |
|
1.1 |
1.2 |
|
5.7 |
SR-11 |
0.17 |
0.29 |
|
0.99 |
1.9 |
|
6.6 |
SR-13A |
0.01 |
0.22 |
|
0.26 |
1.4 |
|
1.7 |
SM-18N |
0.097 |
0.23 |
|
0.45 |
1.1 |
|
2.1 |
SM-18S |
0.047 |
0.26 |
|
0.24 |
1.5 |
|
1.3 |
LP-21 |
0.19 |
0.23 |
|
0.87 |
1.2 |
|
4.6 |
CM-25 |
0.092 |
0.36 |
|
0.66 |
1.7 |
|
3.2 |
Total |
2.1 |
0.25 |
|
11 |
1.2 |
|
53 |
|
|
|
|
|
|
|
|
Anfield considers these estimates to be
historical in nature and cautions that a qualified person has not
done sufficient work to classify the historical estimate as current
mineral resources or mineral reserves and Anfield is not treating
the historical estimate as a current mineral resource or mineral
reserves. A qualified person will need to conduct an analysis of
data from previous exploration activities to delineate an updated
uranium/vanadium resource estimate.
About BRS
BRS, Inc. is an engineering and geology
consulting corporation with expertise in mining and mineral
exploration. Of particular note, it specializes in uranium
exploration, mineral resource evaluation, mine design, feasibility,
mine operations, and reclamation. It has completed numerous uranium
projects including technical reports and feasibility studies for
underground, open pit, ISR, and conventional uranium mills.
Representative projects include technical reports and due diligence
for project financing for conventional uranium projects including
the Sheep Mountain Project in Wyoming, the Marquez/Juan Tafoya
Project in New Mexico, the Coles Hill Project in Virginia, and
numerous ISR uranium projects in Wyoming, Texas and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal
engineer at BRS, is a Qualified Person as defined in NI 43-101 with
more than 45 years of professional and managerial experience. Mr.
Beahm has a proven track record in a variety of mining and mine
reclamation projects including surface and underground mining, heap
leach recovery, ISR, and uranium mill tailings projects. Mr.
Beahm’s experience includes coal, precious metals, and industrial
minerals, but his emphasis throughout his career has been on
uranium. Mr. Beahm has reviewed and approved the technical content
of this news release.
About Anfield
Anfield is a uranium and vanadium development
and near-term production company that is committed to becoming a
top-tier energy-related fuels supplier by creating value through
sustainable, efficient growth in its assets. Anfield is a
publicly-traded corporation listed on the TSX Venture Exchange
(AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock
Exchange (0AD). Anfield is focused on two asset centers, as
summarized below:
Wyoming – Resin Capture and Processing
AgreementAnfield has signed a Resin Capture and Processing
Agreement with Uranium One whereby Anfield would process up to
500,000 pounds per annum of its mined material at Uranium One’s
Irigaray processing plant in Wyoming.
The Charlie Project, Anfield’s flagship uranium
project, is located in the Pumpkin Buttes Uranium District in
Johnson County, Wyoming. The Charlie Project consists of a 720-acre
Wyoming State uranium lease which has been in development since
1969. An NI 43-101 Preliminary Economic Assessment has been
completed for the Charlie Project.
Anfield’s 24 ISR mining projects are located in
the Black Hills, Powder River Basin, Great Divide Basin, Laramie
Basin, Shirley Basin and Wind River Basin areas in Wyoming.
Anfield’s three projects in Wyoming for which NI 43-101 resource
reports have been completed are Red Rim, Nine Mile Lake and
Clarkson Hill.
Arizona/Utah/Colorado – Shootaring Canyon
MillAnother asset in Anfield’s portfolio is the Shootaring
Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is
strategically located within one of the historically most prolific
uranium production areas in the United States, and is one of only
three licensed, permitted and constructed conventional uranium
mills in the United States.
Anfield’s conventional uranium assets consist of
mining claims and state leases in southeastern Utah, Colorado and
Arizona, targeting areas where past uranium mining or prospecting
occurred. Anfield’s conventional uranium assets include the
Velvet-Wood Project, the Frank M Uranium Project, the West Slope
Project as well as the Findlay Tank breccia pipe. An NI 43-101
Preliminary Economic Assessment has been completed for the
Velvet-Wood Project. The PEA is preliminary in nature, and includes
inferred mineral resources that are considered too speculative
geologically to have economic considerations applied to them that
would enable them to be categorized as mineral reserves, and there
is no certainty that the preliminary economic assessment would be
realized. All conventional uranium assets are situated within a
200-mile radius of the Shootaring Mill.
On behalf of the Board of DirectorsANFIELD
ENERGY INC.Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.Contact:Anfield Energy, Inc.Clive
MostertCorporate
Communications780-920-5044contact@anfieldenergy.comwww.anfieldenergy.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING
STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY
HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY
STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS
REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED
HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN
FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR
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FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR
THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,”
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ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION
AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT
ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER
PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS
INCLUDE RISKS ASSOCIATED FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND
DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE
COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL
ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING
STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS
AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE
CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL
OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM
TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY
MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS
CONTENTS.
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