Welcome!

News Feed Item

Anfield Resources Inc. Acquires Additional Uranium Assets in the U.S.

- Continues its strategy of acquiring assets with near term cash flow potential

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/03/14 -- Anfield Resources Inc. (TSX VENTURE:ARY) ("Anfield" or "the Company") is pleased to announce that it is continuing its strategic investment in uranium assets by acquiring 51 unpatented mining claims in six mining claim groups on federal land in Utah. Anfield acquired the claims by making claim locations on the ground pursuant to federal and state laws governing mineral locations. This acquisition includes claim groups in three past-producing uranium mining districts that were not previously represented in Company's uranium asset portfolio. It also includes one claim group that bolsters the Company's current holdings within the White Canyon Area.

Anfield now has access to mineral rights on over 11,000 acres in Utah in districts where the combined historical uranium production totals approximately 28 million pounds. At least one uranium prospect or past-producing uranium mine has been identified within each acquired claim group. These newly-located claims range from between 35 and 115 miles of the White Mesa mill - the only operating conventional uranium mill in the US - whose proximity would facilitate the Company's aim of toll-milling its ore in order to accelerate near-term revenue and cash-flow generation.

"We are pleased to have been able to expand our uranium claim portfolio via these acquisitions," stated Corey Dias, CEO of Anfield. " Moreover, we believe that the continued diversification of our claim portfolio will improve our ability to develop a sustainable source of uranium ore in aggregate. Finally, the recent positive news coming out of Japan with regard to the government's Basic Energy Plan - which makes a commitment to nuclear power as a core part of Japan's energy mix - reinforces our view that the uranium market not only remains undervalued but also has significant upside potential".

Below is a summary of the acquired uranium assets:

Thompson District

The acquisition includes two claim groups consisting of 26 individual claims situated in the Thompson District in Grand County, Utah. Although total production in the district is unknown, it is reported that 45 historic mines operated in the district at an average grade of 0.4% U3O8. The Thompson District is home to such past producers as the Yellow Cat, Little Eva, Little Pittsburgh, Cactus Rat, Parco, and Ringtail mines.

Green River District

The acquisition includes one claim group consisting of six individual claims situated in the Green River District in Emery County, Utah, and is complementary to one State Lease previously secured by Anfield. Total past production in this area is estimated at 600,000 tons of mined material at an average grade of 0.24% U3O8. 28 historically producing mines have operated in the Green River District. The claim group is also located within two miles of the property boundary of Energy Fuels Inc.'s San Rafael Project, which in 2011 reported an indicated mineral resource of 3,404,600 lbs U3O8 at an average grade of 0.225% U308, and 4,595,600 lbs V2O5 at an average grade of 0.30% V2O5, and an inferred mineral resource of 1,859,600 lbs U3O8 at an average grade of 0.205% U3O8, and 2,510,600 lbs V2O5 at an average grade of 0.28% V2O5.

White Canyon Area

The acquisition includes one additional claim group consisting of 12 individual claims situated in the White Canyon Area in western San Juan County, Utah. This is complementary to the fourteen claim groups consisting of 53 claims Anfield previously acquired in the Area. The White Canyon Area is estimated to have produced more than 11,000,000 lbs U3O8, with an average grade of 0.24% U3O8. The Area is also home to Energy Fuels' Daneros Project, a current/recent Uranium producer, as well as the historically-producing Happy Jack mine. Of note, there are more than 100 known uranium deposits in the White Canyon District.

San Rafael District

The acquisition includes two claim groups consisting of 7 individual claims situated in the San Rafael District in Emery County, Utah. Total past production in this area is estimated at 300,000 tons of mined material at an average grade of 0.22% U3O8. 32 historically producing mines have operated in the San Rafael District.

Production figures in this news release are as reported in Gloyn, R.W. et al, Mineral, Energy, and Groundwater Resources of San Juan County, Utah, Utah Geological Survey (1995) and Utah Geological and Mineral Survey Open File Report 18, Uranium-Vanadium Occurrences of Utah (1974).

About Anfield Resources Inc.

Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (ARY-V) and is engaged in mineral exploration, development and production in the United States and Chile. Its focus is on acquiring and developing an array of strategic mineral projects which are summarized below:

The Binghampton Copper Queen (BCQ) project, located 27 kms southeast of Prescott, Arizona, and within the Arizona VMS Belt, consists of 2,032 hectares of both patented and State land. The two past-producing copper mines on the property - Binghampton and Copper Queen - are separated by a mile-wide valley. According to the Arizona Geological Survey, Binghampton produced approximately 8Mlbs of copper at an average grade of 3.1% prior to its closing in the 1920s, while Copper Queen produced less than 100Klbs. Anfield recently signed a Purchase Agreement ("the Agreement"), subject to due diligence, with Blue Zen Memorial Parks ("BZM") to jointly advance BCQ.

The North Star Copper Project, located less than 50 miles northwest of Tucson, targets relatively shallow oxide copper at the historic North Star site in the heart of copper country in southern Arizona. The Project consists of 200 mining claims covering approximately 4,000 acres, and has been permitted to conduct exploration drilling at 16 sites.

The Aura Project, 20 miles east of Copiapo, is a nascent copper production operation in Atacama, Chile, one of world's foremost copper producing regions. Aura consists of eight land concessions totalling over 2,800 acres. From these concessions, copper-mineralized material at the Project is mined and stockpiled for shipment to the Enami Processing facility, a government mining agency whose sole mandate is to facilitate the operations of small and medium-sized mining companies.

Anfield's Uranium assets include 290 mining claims and nine state leases on over 11,000 acres in southeastern Utah, and 24 mining claims in Arizona. The mining claims are located in historical uranium producing regions, targeting areas where past uranium mining or prospecting occurred. The claims are within a 115-mile radius of the White Mesa mill, the only operating conventional uranium mill in the US, which potentially provides Anfield with an opportunity to toll mill its uranium ore.

To find out more about Anfield, visit its website at www.anfieldresources.com.

R. Tim Henneberry, P.Geo., Advisor to Anfield is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.

On behalf of the Board of Directors

ANFIELD RESOURCES 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.