SOURCE: Anfield Resources

Anfield Resources

August 08, 2017 06:00 ET

Anfield Resources Announces Resource Report for Second of 24 Uranium Projects in Wyoming

VANCOUVER, BC--(Marketwired - August 08, 2017) - Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD) ("Anfield" or "the Company") is pleased to announce the receipt of an NI 43-101 mineral resource technical report for the Clarkson Hill uranium project, entitled "Clarkson Hill Uranium Project, Mineral Resource NI 43-101 Technical Report, Natrona County, Wyoming, USA" with effective date July 27, 2017 (the "Clarkson Hill Report"). Further to Anfield's news release of March 21, 2017, the Clarkson Hill Report is the second in a series of NI 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 Inferred Resource of 957,000 tons of mineralized material with an average grade of 0.058% (equivalent to an Inferred Resource of 1,113,000 pounds of U3O8).

Corey Dias, Anfield's CEO stated, "This report reflects Anfield's continued drive to both identify and delineate the uranium resource on the Company's properties in Wyoming in an effort to determine which of these projects are the most prospective. Ultimately, Anfield aims to pair a future viable uranium resource with the Resin Processing Agreement it has 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."

A summary of the Inferred Mineral Resource included in the Clarkson Hill Report is presented in Table 1.

 
Table 1 Inferred Mineral Resources
GT minimum  Pounds % eU3O8  Tons  Average Grade
%eU3O8
0.20  1,113,000  957,000  0.058
       

Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with CIM 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 Clarkson Hill project comprises approximately 500 acres of the mineral holdings of Anfield, and includes 25 unpatented mining lode claims located approximately 20 air miles southwest of Casper, Wyoming. The data used in the report consists of radiometric-equivalent data (eU3O8) for 255 holes; drill intercept data from 17 core holes and 238 rotary drill holes were utilized, along with drill intercepts, chemical assay certificates and both lithological and geophysical logs.

To the best of our knowledge there are no other legal or environmental matters that could materially affect the potential development of these resources.

Radiometric equilibrium was assumed and is supported by available data.

A unit weight of 125 pounds per cubic foot or 16 cubic feet per ton was assumed, based on available data and the Author's direct mining experience within the host formation.

The deposit is closely drilled, approximately fifty to one hundred foot centers. The drilling demonstrates continuity particularly along the mineralized trends. Based on the drill density and the apparent continuity of the deposit along trend the mineral resource estimate would meet the criteria as an Indicated Mineral Resource. However, due to the lack of current drilling to verify the pre-2008 drill data, the Author has classified the estimate as Inferred Mineral Resources under the CIM Standards on Mineral Resources and Reserves.

The estimated mineral resources do not have demonstrated economic viability, but they have had technical and economic constraints applied to them to establish reasonable prospects for eventual economic extraction. The author expects the majority of the Inferred could be upgraded to Indicated Mineral Resources with additional drilling.

NI 43-101 Disclosure

The NI 43-101 Resource Technical Report completed for Clarkson Hill has been authored by Douglas L. Beahm, P.E., P.G. 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 the System for Electronic Analysis and Retrieval ("SEDAR") and the Company's website within the 45 days permitted under NI 43-101.

About BRS

BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects including technical reports and feasibility studies for underground, open pit, ISR, and conventional uranium mills. Representative projects include technical reports and due diligence for project financing for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming, the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous ISR uranium projects in Wyoming and Paraguay.

Douglas L. Beahm, P.E., P.G., 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 track 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

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. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centres, as summarized below:

Arizona/Colorado/Utah -- Shootaring Canyon Mill

A key asset in Anfield's existing 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, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.

Wyoming -- Irigaray ISR Processing Plant (Resin Processing Agreement)

Anfield has also signed a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One's Irigaray processing plant in Wyoming. In addition, should Anfield sign uranium sales contracts, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its contracts.

Anfield's ISR 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.

On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer

Neither 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 release.

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