Anfield Nickel Corp.
TSX VENTURE : ANF

Anfield Nickel Corp.

March 08, 2010 08:30 ET

Anfield Intersects 8.6 Meters Grading 1.79% Nickel and 22.6 Meters Grading 1.56% Nickel at Its Mayaniquel Project, Guatemala

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2010) - Anfield Nickel Corp. (TSX VENTURE:ANF) ("Anfield") is pleased to announce the results from the first 2 holes drilled at the Nueva Caledonia and first 11 holes drilled at the Nueva Concepcion target areas as part of its ongoing drill program at its 100% owned Mayaniquel nickel laterite project located in eastern Guatemala. These results represent two new discoveries and are highlighted by hole NCA10-02 drilled at Nueva Caledonia that intersected 8.4 meters grading 1.79% nickel, including 2.7 meters grading 2.25% nickel and hole NCO10-01 drilled at Nueva Concepcion that intersected 22.6 meters grading 1.56% nickel, including 9.6 meters grading 1.98% nickel.

The results from the initial 13 drill holes are shown in the table below. Maps showing the location of the drill holes are attached to this news release:

Drill Hole From
(m)
To
(m)
Length
(m)
Ni
(%)
Comment
Nueva Caledonia
NCA10-01 1.30 16.60 15.30 1.25 Discovery of new mineralized zone. No previous diamond drilling.
  including 7.80 11.00 3.20 1.86  
NCA10-02 3.60 12.00 8.40 1.79 200 meters northeast of NCA10-01
  including 3.60 6.30 2.70 2.25  
Nueva Concepcion
NCO10-01 9.60 32.20 22.60 1.56 Discovery of new mineralized zone. No previous diamond drilling.
  including 19.20 28.80 9.60 1.98  
  and 38.30 43.00 4.70 0.95  
NCO10-02 Mineralized, but poor recovery, no intercept calculated. Values to 2% Ni between 5 and 12 m depth.
NCO10-03 3.60 11.10 7.50 0.95 Northwestern margin of zone.
NCO10-04 0.50 2.00 1.50 1.10 Northwestern margin of zone.
NCO10-05 1.40 4.00 2.60 1.06 Northwestern margin of zone.
NCO10-06 1.20 13.20 12.00 0.98 Northwestern margin of zone.
NCO10-07 1.20 17.30 16.10 1.01 Northern portion of zone.
NCO10-08 1.90 14.00 12.10 1.15 Northwestern margin of zone.
NCO10-09 10.00 24.30 14.30 1.54 North-central portion of zone.
  including 14.60 21.40 6.80 1.77  
NCO10-10 5.60 13.80 8.20 0.97 Northwestern margin of zone.
NCO10-11 8.20 13.10 4.90 1.14 Northeastern margin of zone.

These drill results do not differentiate limonite, transition or saprolite zone mineralization. A 0.8% Ni cutoff was used to determine mineralized sample intervals, with one internal sub-cutoff sample allowed per interval.

Three drill rigs are currently operating at the Mayaniquel project, two at Nueva Caledonia and one at Nueva Concepcion. To date, 39 holes totaling 795 meters have been drilled at Nueva Caledonia and 54 holes totaling 818 meters have been drilled at Nueva Concepcion. A fourth drill rig is expected to arrive in late March and will operate at Nueva Concepcion.

At Nueva Caledonia, assay results from the first 2 holes confirm previous surface and pit sampling results. The current program is focused on completing a 100-meter grid drill pattern to provide geological control and delineate resources as rapidly as possible.

The holes drilled at Nueva Concepcion are located approximately one kilometer west of the known National Instrument 43-101 ("NI 43-101") compliant mineral resource, the Chiis deposit, and were drilled to test a new laterite target. NGO10-01 and NGO10-09 have intersected significant nickel mineralization near the southern and northern boundaries of this new zone respectively while the remaining results are from holes drilled to the north and northwest of the zone indicating the lateritic profile is thinning in that direction. Anfield anticipates receiving community approval shortly to allow drilling between holes NGO10-01 and NGO10-09 and is currently drilling to determine the western margins of nickel mineralization at the new zone. With the arrival of the fourth drill rig, drilling will commence to expand the existing NI 43-101 mineral resources at the Chiis deposit to the east.

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 Compańia Guatemalteca de Niquel S.A., a subsidiary of HudBay Minerals, Inc. 

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
Deposit Transition(1) Saprolite(2) Total
  DMT(3) Ni% DMT Ni% DMT Ni%
Indicated Resources        
Sechol 5.01 1.29 13.31 1.46 18.32 1.41
             
Inferred Resources        
Sechol 3.54 1.19 15.55 1.38 19.09 1.34
Chatala 2.17 0.97 3.89 0.99 6.06 0.98
Chiis(4) 1.26 1.19 2.04 1.35 3.30 1.29
El Tunico 0.01 0.92 2.89 1.15 2.90 1.15
Total 6.98 1.12 24.37 1.28 31.35 1.25
  Cutoff Grade 1.0% Ni
Deposit Transition Saprolite Total
  DMT Ni% DMT Ni% DMT Ni%
Indicated Resources      
Sechol 3.97 1.40 11.23 1.57 15.20 1.53
             
Inferred Resources            
Sechol 2.20 1.38 12.46 1.50 14.66 1.48
Chatala 0.54 1.24 1.36 1.18 1.90 1.20
Chiis(4) 1.15 1.22 1.52 1.50 2.67 1.38
El Tunico 0.00 0.00 1.66 1.34 1.66 1.34
Total 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.
(4)Chiis is a zone within Nueva Concepcion.

In January 2010, Anfield initiated a 44,000 meter drill program at the project. The program, 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.

Andrew Carstensen, CPG, Vice President, Exploration for Anfield, is the Qualified Person as defined by NI 43-101 for the Mayaniquel Project and has reviewed and approved the contents of this news release. The quality assurance/quality control program is monitored by independent consultant Dr. Bruce M. Davis, FAusIMM. Logging and sampling are completed at Anfield's secure facility located at the project. Drill core is mechanically split on site and samples securely transported to Inspectorate America Corp.'s Guatemala City sample preparation facility and subsequently to ALS Chemex's laboratory in Vancouver, Canada for X-Ray Fluorescence Spectroscopy (XRF) analysis, the common analytical technique used in nickel laterite exploration. Anfield inserts standards, blanks and duplicates selected on a random basis into the sample stream and sends 5% of the sample pulps to a check laboratory in Perth, Australia. 

To view the maps accompanying this release please click on the following link: http://media3.marketwire.com/docs/0308anf.jpg

Anfield Nickel Corp.

Signed: "David Strang"

CAUTION REGARDING FORWARD 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 limited to: 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)