VANCOUVER, BC–(Marketwired – December 05, 2017) – Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD) (“Anfield” or “the Company”) will evaluate the feasibility of adding a vanadium processing facility to its Shootaring Canyon uranium mill. This reflects Anfield’s intent to capitalize on potential opportunities as vanadium continues to become an even-more relevant commodity in the energy sector. To this end, Anfield has engaged BRS Engineering, Inc. to update Anfield’s NI 43-101 Preliminary Economic Assessment related to the Velvet-Wood Mine to include a vanadium milling circuit as part of a production scenario.
Corey Dias, Anfield’s CEO, commented, “We are excited to explore the feasibility of vanadium production at Shootaring via our Velvet-Wood mine. Importantly, the Velvet mine has historically produced 4 million pounds of uranium and 5 million pounds of vanadium. While uranium production remains our core pursuit — especially in the current environment, where uranium producers Cameco and Kazatomprom have announced a combined uranium production cut of over 40 million pounds over 3 years — we are nevertheless committed to seeing the effective development and production of vanadium resources contained and commingled in our feedstock ore. Importantly, a positive outcome related to this evaluation could have a positive effect on our uranium production scenario through by-product credits which will reduce our overall operating costs.”
Shootaring Canyon Uranium Mill
The Shootaring Canyon Uranium Mill is one of only three licensed, permitted and constructed conventional uranium mills in existence in the U.S. Located approximately 48 miles (77 kilometers) south of Hanksville, Utah, the Shootaring Canyon Mill is a conventional acid-leach facility that is permitted to process up to 750 tonnes of ore per day, with a capacity to process up to 1,000 tonnes per day. The mill was built in 1980 and during its period of operation it processed and sold 27,825 pounds of U3O8. It ceased operation with the collapse of the uranium price in the early 1980s.
Based upon historical production, the Velvet-Wood Mine has the potential to be a significant source of vanadium. Between 1979 and 1984, Atlas Minerals mined approximately 400,000 tons of ore from the Velvet Deposit at grades of 0.46% U3O8 and 0.64% V2O5, recovering approximately 4 million pounds of U3O8 and 5 million pounds of V2O5.
The current mineral resources of the combined Velvet and Wood mines have been estimated to comprise 4.6 million pounds of U3O8 at a grade of 0.29% U3O8 (measured and indicated resource) and 552,000 pounds of U3O8 at a grade of 0.32% U3O8 (inferred resource). Source: Velvet-Wood Mine Uranium Project, San Juan County, Utah USA NI 43-101 Mineral Reserve and Resource Report, Author: BRS Inc.; Date: 11/14/2014.
Anfield is an energy metals exploration, 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 energy metals assets. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has signed a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in Wyoming. In addition, should Anfield sign uranium sales contracts, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its contracts.
Anfield’s 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.
Arizona/Utah – Shootaring Canyon Mill
A key asset in Anfield’s existing 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 assets consist of mining claims and state leases in southeastern Utah, 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, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
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 and the JAB-RD open pit in Wyoming, the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous ISR uranium projects in Wyoming and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, has approved the scientific and technical disclosure in the news release. He is a Qualified Person as defined in NI 43-101 with 40 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.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
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