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
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists loo...
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"Tintri focuses on the Ops side of the DevOps, which basically is pushing more and more of the accessibility of the infrastructure to the developers and trying to get behind the scenes," explained Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International 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 ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists discussed...
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"We focus on composable infrastructure. Composable infrastructure has been named by companies like Gartner as the evolution of the IT infrastructure where everything is now driven by software," explained Bruno Andrade, CEO and Founder of HTBase, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.