Anfield Nickel Corp.
TSX VENTURE : ANF

Anfield Nickel Corp.

January 25, 2010 15:56 ET

Anfield Announces Start of Drilling Campaign at Mayaniquel

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2010) - Anfield Nickel Corp. (TSX VENTURE:ANF) ("Anfield") is pleased to announce it has begun an initial 44,000m drill program on its 100% owned Mayaniquel nickel laterite project in Guatemala. Drilling, currently planned to last 18 months, is focused on expanding current NI 43-101 mineral resources at the Sechol and Nueva Concepcion (Chiis) deposits and delineating new resources at the Nueva Caledonia, Tres Juanes and San Lucas target areas.

One drill is currently operating at Nueva Concepcion. Two rigs have been mobilized to Nueva Caledonia and are scheduled to begin drilling by the end of the week. A fourth drill is scheduled to arrive on the property mid February.

The Mayaniquel project comprises mineral exploration licenses totaling approximately 83,430 hectares in the nickel laterite belt surrounding Lake Izabal, 120 kilometers northeast of Guatemala City. Anfield's mineral exploration licenses lie adjacent to the "Fenix Project" owned by Compania Guatemalteca de Niquel S.A., purchased in mid 2008 by HudBay Minerals, Inc. for C$560 million.

On April 9, 2009, an independent NI 43-101 mineral resource estimate was prepared on the Mayaniquel project as shown in the table below:

    Cutoff Grade 0.8% Ni          
Cutoff Grade 1.0% Ni
   
    Deposit Transition(1 ) Saprolite(2 ) Total       Transition   Saprolite   Total    
  DMT(3 ) Ni % DMT   Ni % DMT Ni %   DMT Ni % DMT Ni % DMT Ni %
Indicated Resources                                        
  Sechol 5.01   1.29   13.31   1.46   18.32 1.41     3.97 1.40   11.23 1.57   15.20 1.53  
   
Inferred Resources                                        
  Sechol 3.54   1.19   15.55   1.38   19.09 1.34     2.20 1.38   12.46 1.50   14.66 1.48  
  Chatala 2.17   0.97   3.89   0.99   6.06 0.98     0.54 1.24   1.36 1.18   1.90 1.20  
  Chiis 1.26   1.19   2.04   1.35   3.30 1.29     1.15 1.22   1.52 1.50   2.67 1.38  
  El Tunico 0.01   0.92   2.89   1.15   2.90 1.15     0.00 0.00   1.66 1.34   1.66 1.34  
  Total 6.98   1.12   24.37   1.28   31.35 1.25     3.89 1.31   17.00 1.46   20.89 1.43  
Mineral resources do not have demonstrated economic viability.
(1)The Transition zone is a mixed horizon of limonite and saprolite material and was defined using both geological logging data and chemical analysis.
(2)The Saprolite zone represents the lower part of the laterite profile below the Transition zone and was defined using both geological logging data and chemical analysis
(3)DMT – dry million tonnes.

Mr. Marshall Koval, P.Geo., the Qualified Person as defined by NI 43-101 for the Mayaniquel project, has reviewed and approved the content of this press release.

ANFIELD NICKEL CORP.

Signed: "David Strang"

CAUTION REGARDING FORW ARD LOOKING STATEMENTS: This news release may contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anfield Nickel Corp. to be materially different from those expressed or implied by such forward-looking statements, including but not limitedto: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of commodities, as well as those factors discussed in the sections relating to risk factors of our business filed in Anfield Nickel Corp.'s required securities filings on SEDAR. Although Anfield Nickel Corp. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Anfield Nickel Corp. does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Neither the 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 news release.

Contact Information

  • Anfield Nickel Corp.
    David Strang
    604 646-1899
    604 687-7041 (FAX)