Anfield Gold Corp.
TSX VENTURE : ANF

Anfield Gold Corp.

May 23, 2017 07:00 ET

Anfield Gold Announces Positive Metallurgy Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 23, 2017) - Anfield Gold Corp. ("Anfield" or "Company") (TSX VENTURE:ANF) is pleased to announce the results from its last round of metallurgical testing for the Coringa Project ("Coringa" or "Project"). The results were positive, demonstrating recoveries of 98% gold and 61% silver.

These results were achieved by testing a master composite representing mineralized material from the Meio and Serra zones of the Project using gravity concentration followed by carbon-in-leach ("CIL") cyanidation of the gravity tails. The master composite was a 50/50 blend of mineralized material from each zone that utilized core from 19 out of the 229 drill holes that have been completed across both zones. The master composite also responded very well to whole ore cyanidation with gold extraction rates similar to those obtained by gravity concentration followed by CIL cyanidation; however, whole ore cyanidation was shown to have 9% lower silver recoveries.

Anfield anticipates using gravity concentration followed by CIL cyanidation of gravity tails in the final flow sheet for the Project's feasibility study, expected in July 2017.

The metallurgical testing was undertaken by C.H. Plenge & CIA S.A. ("C.H. Plenge") at its laboratory in Lima, Peru. C.H. Plenge is not related to Anfield.

Permitting and Project Activity Update

On May 10, 2017, Anfield received formal consent for the Project from the Instituto Nacional de Colonização e Reforma Agrária ("INCRA"). INCRA's consent was required by the Secretaria de Estado de Meio Ambiente e Sustentabilidade ("SEMAS") as a pre-requirement to issuance of permits for the commencement of construction and operations at Coringa. Anfield continues to engage with SEMAS as the agency works to finalize and issue the required permits.

Pre-construction activities at Coringa continue to advance, with the latest developments listed below:

  • The mine camp is complete and has been upgraded to accommodate over 200 staff during operations.
  • Security fencing around the perimeter of the camp areas has been completed.
  • Groundwater supply for the camps domestic water needs has been identified and tested.
  • Mine design, planning and scheduling work based on the updated mineral resource estimate (May 3, 2017 news release) is being developed for incorporation into the feasibility study.
  • Site wide hydrological and geochemical modeling will be completed by the end of May.
  • All field and laboratory investigation programs in support of the design of the process plant and related infrastructure, tailings storage facility and mine workings have been completed.
  • Feasibility level tailings storage facility design and scheduling have been completed.
  • Detailed project engineering and cost estimation is approximately 50% complete.

Quality Assurance and Quality Control

All Anfield sample assay results have been monitored through a quality control / quality assurance ("QA/QC") program including the insertion of blind standards, blanks and the reanalysis of duplicate samples. The results of the QA/QC program and the resampling program indicate that the sample database is of sufficient accuracy and precision.

Qualified Persons

Nelson King, SME Registered Member and Metallurgical Consultant to Anfield, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. King has assisted Anfield in the development and direction of the metallurgical testing program for the Project, has visited C.H. Plenge's laboratory in Lima to observe the testing program, and has reviewed and approved the content of this press release relating to the metallurgical testing. Mr. King also verified the results of the metallurgical testing.

About Anfield Gold

Anfield Gold Corp. (TSX VENTURE:ANF) is a Vancouver, Canada based precious metal exploration and development company focused on the development of the Coringa Project located in Para State, Brazil. Anfield's strategic plan also includes the acquisition of other gold projects with the goal of becoming a mid-tier gold mining company.

Further details are available on the Company's website at https://anfieldgold.com

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.

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "intends," "will" "are expected" or variations of such words and phrases. Forward looking statements or information in this press release include, but are not limited to, the rate of ore recovery at the Project, the preparation of, and timing to completion of, a feasibility study for the Project; Anfield's strategic plan to acquire other gold projects with the goal of becoming a mid-tier gold mining company, timing to completion of pre-construction activities and plan to use gravity concentration followed by CIL cyanidation of gravity tails. In making the forward-looking statements in this release, Anfield has applied certain factors and assumptions that are based on information currently available to Anfield as well as Anfield's current beliefs and assumptions (including Anfield's belief in the accuracy of the mineral resource estimate). Although Anfield considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, additional drilling and exploration may determine that there is no potentially viable mine plan for the Project, risks associated with the business of Anfield, risks related to reliance on technical information provided by Magellan Minerals Ltd. as related to the Project; risks relating to exploration and potential development of the Company's projects;
risks related to obtaining the permits and approvals necessary to develop and commission the Project on terms that are acceptable to Anfield; risks related to Anfield identifying suitable acquisition targets; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; prices for commodities to be produced and changes in commodity prices; changes in interest and currency exchange rates; risks relating to unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and changes to business and economic conditions in the mining industry generally. Although Anfield has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. Anfield does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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