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


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
SYS-CON Events announced today that MathFreeOn 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. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, will discuss the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They will also review two "free infrastruct...
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...