Anfield Energy to Complete a Uranium Resource Report for the Fifth of 25 Uranium Projects in Wyoming
TSX VENTURE: AEC
VANCOUVER, British Columbia, April 11, 2018 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V:AEC) (OTCQB:ANLDF) (FRANKFURT:0AD) (“Anfield” or “the Company”) is pleased to announce that is has engaged BRS Engineering to complete a mineral resource report for the Taylor Ranch uranium project in Wyoming. The Taylor Ranch project was purchased from Uranium One Americas Inc. (“Uranium One”) in September 2016 and is one of the 25 uranium mining properties acquired in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas of Wyoming. As a key part of this 2016 transaction, Anfield also signed a Resin 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.
Corey Dias, Anfield CEO, states “We are pleased to update and further delineate another uranium resource from amongst the 25 uranium projects acquired in Wyoming. Including the recently-commissioned Charlie Project resource report, this will be only the fifth NI 43-101 resource report commissioned for our Wyoming projects. So far, Anfield’s three completed resource reports have increased its Indicated uranium resource portfolio by approximately 3.6 million pounds and its Inferred uranium resource by approximately 4.5 million pounds. Given that 80% of Anfield’s Wyoming projects have yet to be addressed in terms of resource delineation, we believe a significant pipeline is emerging. Importantly, Anfield remains on course to deliver on its strategy of creating a long-term viable uranium production complex in Wyoming as a vital part of its portfolio of U.S. uranium assets”.
About The Taylor Ranch Project
The Taylor Ranch Project is located in the Powder River Basin Uranium District in portions of Campbell, Converse, and Johnson Counties, Wyoming. Mineral rights at the Taylor Ranch Project include mining claims, Wyoming State leases, and private leases totaling some 5,620 acres.
Regional exploration drilling programs were conducted in the 1970’s by the American Nuclear-Tennessee Valley Authority partnership, Conoco Minerals, and Kerr McGee. During this time ISR was not a common mining practice for the recovery of uranium and the discovery of shallower mineralization on the nearby Moore Ranch became the focus exploration to the detriment of deeper deposits such as Taylor Ranch. Subsequently, Power Resource Inc. began property acquisition at Taylor Ranch in 1993 and later formed a joint venture with Cotter Corp. A 1996 internal summary report by PRI titled “Properties, Ore Reserves and Resources”, states the “Wide spaced exploration has intercepted ore grade mineralization and defined several thousand feet of mineralized roll fronts systems at depths of 800 to 1,000 feet.”
In 2007-2008 Uranium One drilled 224 rotary drill holes with a total footage of 203,525, at a cost of approximately $694,000 US, on the Taylor Ranch Project. An internal report titled “Taylor Ranch Drilling Report” dated May 15, 2008, provides a summary of drilling results. Uranium One did not complete a 43-101 compliant mineral resource estimate for the Taylor Ranch Project. Drilling identified mineralized trends in the 30, 40, 50, 60, and 70 sandstone units of the Wasatch Formation with the majority of higher grade intercepts in the 30 and 40 sand units. Drill results are summarized in the following table.
|GT > 0.5||GT
|Sept ’07 – Jan ‘08||203,525||224||25||24||37||138|
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, 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.
Mr. Beahm has reviewed and approved the technical content of this news release.
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 production centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has signed a Resin 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. In addition, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its sales contracts.
Anfield’s 25 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, Clarkson Hill and Nine Mile Lake.
The Charlie Project, acquired from Cotter Corporation, 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.
Arizona/Utah – 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 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. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-Wood Project. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
On behalf of the Board of Directors
ANFIELD 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.
Anfield Energy, Inc.
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