Anfield To Acquire Marysvale And Calf Mesa Uranium Projects In Utah
Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has entered into a definitive agreement with Nedeel LLC & BBL-2 LLC (“the Sellers”) to acquire a 100% interest in 65 unpatented mining claims and historical data of the Marysvale uranium project, located in Beaver County, Utah, and 100% interest in 26 unpatented mining claims and historical data of the Calf Mesa uranium project, located in Emery County, Utah.
Corey Dias, Anfield’s CEO commented: “We are pleased to secure additional claims near our Utah projects, including the Shootaring Canyon Mill, and will continue to seek out prospective assets which fit into our two-fold strategy of acquiring both near term and longer-term uranium and vanadium assets which will fit into our overall production plan. The near-term strategy centers on our advanced Utah and Colorado uranium and vanadium projects – Velvet Wood, West Slope and Slick Rock – underpinned by our wholly-owned Shootaring Canyon mill, one of only 3 licensed conventional mills in the U.S. The longer-term production strategy includes the acquisition of complementary assets with potential to feed additional uranium and vanadium resource to our Shootaring Canyon mill. Much like our Artillery Peak acquisition, we believe that Marysvale and Calf Mesa will complement our existing assets and serve as part of our longer-term strategy.”
As consideration for the claims and associated data, the Sellers will receive US$60,000 in cash and 9 million common shares (the “Consideration Shares”) of Anfield. Completion of the acquisition of the Claims, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day. No finders’ fees or commissions are owing by the Company in connection with the acquisition of the Claims.
About Marysvale
Uranium was discovered in the Marysvale area in 1949 and produced approximately 1.4 million pounds, at a reported average grade of 0.22 %U3O8, of uranium between 1952 and 1967. Mined material was shipped to a government ore-buying station located in Marysvale, Utah (Trigon Exploration Canada Ltd, Technical Report on the Marysvale Property, Newton Mining District, Beaver County District, Utah, U.S.A., 2006).
The Project is located within the Marysvale volcanic field approximately 100 air miles west and north of the Shootaring Canyon mill.
Mineralization is hosted within hydrothermal veins associated with the “Central intrusive” and as supergene enrichment within altered rhyolitic volcanics. Historic mining was dominantly within the vein-type mineralization (Steven, T.A., Cunningham, and Machette, M.N., Integrated Uranium Systems in the Marysvale volcanic field, west-central, Utah, AAPG Studies in Geology No. 13).
Companies such as Energy Fuels Exploration Co. and Philips Uranium Corp. have held claims in the area, while both Philips and Trigon Exploration conducted drill programs.
About Anfield
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 its conventional asset centre, as summarized below:
Arizona/Utah/Colorado – 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, Colorado, 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, the West Slope Project, as well as the Findlay Tank breccia pipe. A NI 43-101 PEA has been completed for the Velvet-Wood Project. The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and, resultantly, there is no certainty that the included preliminary economic assessment would be realized. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.
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