Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or the “Company”) is pleased to
announce that BRS Inc. (“BRS”) has completed a mineral resource
estimate for four of the nine uranium and vanadium properties –
known as JD-6, JD-7, JD-8 and JD-9 – contained within its 100%
owned West Slope project (“West Slope”) located in the prolific
Uravan region of Colorado.
- An Indicated
Mineral Resource of 1,367,000 tons of mineralized material with an
average grade of 0.197% eU3O8 (equivalent to an Indicated Resource
of 5,381,000 pounds of eU3O8);
- An Inferred
Mineral Resource of 1,367,000 tons of mineralized material with an
average grade of 0.984% V2O5 (equivalent to an Inferred Resource of
26,906,000 pounds of V2O5);
The resources above are shown at a
grade-thickness cut-off of 0.10 ft% eU3O8. The Technical Report for
the four West Slope properties will be issued within 45 days.
Corey Dias, Anfield CEO, stated: “We are very
pleased to receive an updated resource estimate for a portion of
the properties at West Slope, which continues to hold additional
historic uranium and vanadium resources within the project area.
Globally, we view these resources as an integral source of material
for our conventional asset production plan, which is underpinned by
our Shootaring Canyon mill. Given the Company’s recent focus on our
conventional asset base, and the advancement of plans to realize a
path to production through this portfolio, today’s news underscores
the strength of our burgeoning conventional mine-and-mill
complex.
The continued geopolitical unrest in Eastern
Europe and Central Asia has brought to bear the inherent
uncertainty of the uranium global supply chain. We believe that a
shift to North American supply is underway, providing Anfield with
a significant opportunity to contribute to this effort.”
About The West Slope
Project
The West Slope Project, located in Montrose and
San Miguel Counties of southwestern Colorado, consists 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.
DOE Lease and Lode Mining Claims |
Acres |
Past Production Leases & Claims(Pounds
U3O8)
(Pounds V2O5) |
1977-2002 |
2003-2006 |
Total |
JD-6Mineral Joe claims |
325120 |
279,9021,910,463 |
68,223396,630 |
348,1252,307,093 |
JD-7JD-7A,Palmer RanchSugar claims |
320120240120 |
46,280125,410 |
-- |
46,280125,410 |
JD-8Doagy, Opera Box claims |
81335 |
-- |
35,704151,501 |
35,704151,501 |
JD-9Lasso claims |
89740 |
128,584701,553 |
98,127512,433 |
226,7111,213,986 |
Project Total |
|
454,7662,737,426 |
202,0541,060,564 |
656,8203,797,990 |
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 worked on 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 of 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:
Arizona/Utah/Colorado – Shootaring Canyon
Mill
A key 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 uranium mills in the United States.
Anfield’s conventional uranium and vanadium 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.
Wyoming – Resin Capture and Processing
Agreement
Anfield 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 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. A Preliminary Economic
Assessment has been completed for the Charlie Project.
Anfield’s 24 remaining 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.
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
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CONTENTS.
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