Anfield’s Red Rim at 1.14 million lb U3O8 indicated
Anfield’s Red Rim at 1.14 million lb U3O8 indicated
Momentum Public Relations
Press Release: April 4, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES ANNOUNCES RESOURCE REPORT FOR FIRST OF 24 URANIUM PROJECTS IN WYOMING
Anfield Resources Inc. has received a National Instrument 43-101 mineral resource technical report for the Red Rim uranium project, entitled “Red Rim Uranium Project, Mineral Resource Technical Report, National Instrument 43-101, Carbon County, Wyoming, USA,” and dated March 31, 2017. Further to Anfield’s news release of March 21, 2017, the Red Rim report is the first in a series of National Instrument 43-101 technical reports related to Anfield’s 24 Wyoming uranium projects. The report was completed by BRS Inc., a consulting and engineering firm with nearly 40 years of experience assessing Wyoming uranium projects.
The resource estimate includes:
- An indicated resource of 336,655 tons of mineralized material with an average grade of 0.170 per cent (equivalent to an indicated resource of 1,142,449 pounds of triuranium octoxide);
- An inferred resource of 472,988 tons of mineralized material with an average grade of 0.163 per cent (equivalent to an inferred resource of 1,539,447 pounds of U3O8).
Corey Dias, Anfield’s chief executive officer, stated: “This report is a significant first step in identifying and delineating the uranium resource on the company’s properties in Wyoming, an important part of our multistate U.S. portfolio. Over the coming months we aim to delineate further uranium resources on our acquired Wyoming properties and plan to identify the most prospective. Crucially, Anfield has a resin-processing agreement in place with Uranium One in Wyoming whereby it can process up to 500,000 pounds of uranium per year at Uranium One’s Irigaray central processing plant, and the pairing of a future viable uranium resource with that agreement would place Anfield in a strong position to take advantage of the expected uranium price rebound.
“This expected rebound converges with Anfield’s strategy of acquiring quality uranium assets and proceeding with disciplined, staged development. We are confident that developing these Wyoming properties, in line with company strategy, will be a significant step towards becoming a top-tier U.S. uranium producer.”
A summary of the indicated mineral resource included in the Red Rim report is presented in the table. A summary of the inferred mineral resource included in the Red Rim report is presented in table.
INDICATED MINERAL RESOURCES GT minimum Pounds eU3O8 Tons Average grade {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} eU3O8 0.25 1,142,449 336,655 0.170 INFERRED MINERAL RESOURCES GT minimum Pounds eU3O8 Tons Average grade {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} eU3O8 0.25 1,539,447 472,988 0.163
Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with Canadian Institute of Mining, Metallurgy and Petroleum standards. Inferred mineral resources are too speculative geologically to have the economic considerations applied to them which would enable them to be categorized as mineral reserves.
The Red Rim project comprises approximately 1,000 acres of the mineral holdings of Anfield and includes 49 unpatented mining lode claims located approximately 20 air miles southwest of Rawlins, Wyo. The data used in the report utilize drill intercept data from two core holes and 136 rotary drill holes, including drill intercepts and geophysical logs.
The Red Rim project is located in an area that is the winter range for Pronghorn antelope. This may result in seasonal stipulations for field activities, including drilling. To the best of the company’s knowledge there are no other legal or environmental matters that could materially affect the potential development of these resources.
Radiometric equilibrium was assumed.
A unit weight of 125 pounds per cubic foot or 16 cubic feet per ton was assumed, based on the author’s experience working in operating mines in the Gas Hills within similar tertiary sandstone uranium deposits where reserve estimates were routinely compared with actual production.
For indicated mineral resources, the mineralized trend was bracketed by drilling and mineral resources were estimated using the GT contour method.
For inferred mineral resources, where the mineralized trend was not fully defined by drilling, at the interpreted location of the oxidation/reduction interface a thickness of six feet at an average grade of 0.15 per cent equivalent triuranium octoxide was assumed. Further it was assumed that mineralization in excess of a 0.5 GT extended approximately 50 feet either side of the interpreted oxidation/reduction interface and that mineralization grading down to a GT of 0.1 extended an additional 50 feet beyond that. These assumptions were based on the areas of close-spaced drilling where indicated mineral resources were estimated. GT contouring was completed within these limits and honoured available drill data.
National Instrument 43-101 disclosure
The NI 43-101 resource technical report completed for Red Rim has been authored by Douglas L. Beahm, PE, PG, principal engineer, of BRS Inc. The author has reviewed and approved the technical content of this news release.
A technical report on the resource technical report will be published on SEDAR and the company’s website within the 45 days permitted under NI 43-101.
About Anfield Resources Inc.
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.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield hires BRS for Wyoming NI 43-101 reports
Anfield hires BRS for Wyoming NI 43-101 reports
Momentum Public Relations
Press Release: March 21, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES COMMENCES ADVANCEMENT OF WYOMING URANIUM PROJECTS
Anfield Resources Inc. has engaged BRS Inc., an engineering firm, to prepare a series of National Instrument 43-101-compliant technical reports for a number of Anfield’s 24 Wyoming uranium projects. The company views resource delineation as the first phase of Anfield’s Wyoming uranium asset advancement. The projects are located in the Black Hills, Powder River basin, Great Divide basin, Laramie basin, Shirley basin and Wind River basin areas of Wyoming.
Further to its news release of Sept. 14, 2016, as a part of the Wyoming project acquisition, Anfield acquired a database containing historic resource estimates that identify significant potential for further development. This includes drilling and geologic work done by Uranium One of 575 drill holes totalling approximately 395,000 feet of drilling. In addition to the Uranium One database, Anfield previously acquired a historic database of geological information pertaining to the acquired projects and of surrounding properties. The company, in conjunction with BRS, is carefully analyzing the current and historic data to identify and prioritize the data to generate NI 43-101 technical reports for Anfield’s acquired projects.
Corey Dias, Anfield’s chief executive officer, stated: “We are delighted to begin the initial phase of our work on these projects in order to both identify and delineate uranium resources. Importantly, many of these projects are in areas of Wyoming in which a number of uranium producers have already established ISR production bases. Moreover, Anfield signed a resin processing agreement with Uranium One in late 2016 whereby Anfield can process up to 500,000 pounds of uranium per year at Uranium One’s Irigaray central processing plant.
“Uranium analysts are now noting that the uranium market is at an inflexion point where prices are bound to rise sharply in 2017. With depressed prices, mine production is being cut while uranium demand is steadily increasing in Asia and elsewhere. And long-term contracts are rolling off with significant uncovered demand being forecast. These market dynamics converges with Anfield’s strategy of acquiring quality assets and proceeding with disciplined, staged development. We are confident that developing these properties will facilitate the execution of our company strategy and will be a significant step towards becoming a top-tier U.S. uranium company.”
Douglas L. Beahm, PE, PG, 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 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.
About Anfield Resources Inc.
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.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield appoints Lumadue VP, U sales and marketing
Anfield appoints Lumadue VP, U sales and marketing
Momentum Public Relations
Press Release: March 13, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES INC. ANNOUNCES VICE PRESIDENT, URANIUM SALES AND MARKETING
Robert Scott Lumadue has joined Anfield Resources Inc. as vice-president, uranium sales and marketing. Mr. Lumadue’s 38 years of relevant work experience includes four years with uranium producer Uranium One Americas as part of its uranium sales team, 12 years with U.S. utility Duke Energy Corp., 17 years with uranium conversion company ConverDyn and five years with Nuexco Trading Corp.
Corey Dias, Anfield’s chief executive officer, stated: “We are very pleased with the addition of Scott Lumadue as Anfield’s vice-president of uranium sales and marketing. Mr. Lumadue’s extensive experience within the nuclear sector will be a tremendous asset to the company. His long-term relationships with U.S. utilities and nuclear conversion facilities provide Anfield with a unique opportunity to leverage its improving uranium production position through the pursuit of long-term utility sales contracts. Anfield continues to strengthen its market position not only through strategic property and process acquisitions, but also through the addition of key personnel. By executing on this strategy, Anfield’s value proposition continues to gain greater appeal.”
About Anfield Resources Inc.
Anfield is an energy metals 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.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield Resources closes $2.88-million placement
Anfield Resources closes $2.88-million placement
Momentum Public Relations
Press Release: March 6, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES INC. COMPLETES $2.9 MILLION PRIVATE PLACEMENT
Anfield Resources Inc. has completed its private placement of units at 10 cents announced on Feb. 21. The placement was oversubscribed and on closing the company issued 28,880,615 units for gross proceeds of $2,888,061. Each unit consists of one common share and a one share purchase warrant, with each warrant entitling the holder to acquire an additional common share at a price of 20 cents for a period of 24 months.
Corey Dias, Anfield’s chief executive officer, stated: “We are excited to have closed on a financing which is significantly larger than the $1.5-million private placement we had originally announced on Feb. 21. With these funds, Anfield will both advance its current projects and pursue acquisition opportunities as we remain extremely optimistic with regard to the uranium market and its future prospects. It is important to note that the 447 commercial nuclear reactors now operating in 31 countries across the world currently meet 11 per cent of global electricity demand; however, with 59 reactors currently under construction and a planned and proposed reactor pipeline totalling more than 500, it is clear that nuclear power will remain an integral part of the global energy mix.”
In connection with closing, the company paid fees of $22,050 and issued 220,500 warrants to eligible finders who introduced subscribers to the company. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period. The proceeds of the private placement will be used for project development and general working capital purposes.
About Anfield Resources Inc.
The key asset in Anfield’s conventional uranium 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 uranium assets consist of conventional mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred.
Anfield’s ISR (in situ recovery) 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, and comprise 2,667 federal mining claims, 56 Wyoming state leases and 15 private leases acquired from Uranium One in September, 2016.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield Resources 28,880,615-share private placement
Anfield Resources 28,880,615-share private placement
Momentum Public Relations
Press Release: March 6, 2017
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Feb. 21, 2017.
Number of shares: 28,880,615 shares
Purchase price: 10 cents per share
Warrants: 28,880,615 share purchase warrants to purchase 28,880,615 shares
Warrant exercise price: 20 cents for a two-year period
Number of placees: 38 placees
Insiders: Laara Shaffer, 200,000 shares; Corey Dias, two million shares; Joshua Bleak, 750,000 shares
Finders’ fees: Leede Jones Gable Inc., $11,550 and 115,500 warrants that are exercisable into common shares at 20 cents per share for a 24-month period; Gravitas Securities Inc., $3,500 and 35,000 warrants that are exercisable into common shares at 20 cents per share for a 24-month period; Canaccord Genuity Corp., $7,000 and 70,000 warrants that are exercisable into common shares at 20 cents per share for a 24-month period
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company issued a news release dated March 6, 2017, announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the exchange may later extend the expiry date of the warrants if they are less than the maximum permitted term.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
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