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Anfield Resources Discloses Conceptual Vanadium Exploration Target at its Velvet-Wood Mine

/EINPresswire.com/ -- VANCOUVER, BC--(Marketwired - December 13, 2017) - Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD) ("Anfield" or "the Company") announces a conceptual vanadium exploration target at its Velvet-Wood Mine, located in Utah. BRS Engineering, Inc. has completed an Exploration Target report, entitled "Velvet-Wood Vanadium Exploration Target, National Instrument 43-101, Utah, U.S.A.", with effective date of December 11, 2017 (the "Velvet-Wood Vanadium Report") which provides a vanadium exploration target of between 6.3Mlbs and 9.7Mlbs at a grade of between 0.4% V2O5 and 0.61% V2O5. BRS is a consulting and engineering firm with nearly 40 years of experience assessing both uranium and vanadium projects. The potential quantities and grades, as stated below, are conceptual in nature and have been approximated. There has been insufficient exploration to define a mineral resource for vanadium. Furthermore, it is uncertain if additional exploration will result in the exploration target being delineated as a mineral resource.

Corey Dias, Anfield's CEO stated, "We are pleased to announce a vanadium exploration target at our Velvet-Wood mine, which builds on the historical production of 5 million pounds of vanadium at this site -- as stated in our 2016 Preliminary Economic Assessment for the Velvet-Wood project. We believe that the recent upsurge of interest in vanadium provides Anfield with a unique opportunity to create a vanadium co-product production plan" which will both complement and enhance the attractiveness of uranium extraction at the Velvet-wood mine.

A summary of the Vanadium Exploration Target included in the Velvet-Wood Vanadium Report is presented in Table 1.

 
Table 1. Exploration Target Summary
Exploration Target Grade % V2O5 Pounds (x1,000)
Velvet/Wood 0.40 - 0.61 6,300 - 9,700

This report includes disclosure permitted under Section 2.3(3) of NI 43-101 as Exploration Target. No mineral resources or mineral reserves have been estimated for Vanadium. No economic assessment has been completed for Vanadium. Reasonable prospects for eventual economic extraction are dependent upon development of the project for uranium and recovery of vanadium as a by-product.

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

Velvet-Wood Mine

Based upon historical production, the Velvet-Wood Mine has the potential to be a significant source of vanadium. Between 1979 and 1984, Atlas Minerals mined approximately 400,000 tons of ore from the Velvet Deposit at grades of 0.46% U3O8 and 0.64% V2O5, recovering approximately 4 million pounds of U3O8 and 5 million pounds of V2O5.

The current mineral resources of the combined Velvet and Wood mines have been estimated to comprise 4.6 million pounds of U3O8 at a grade of 0.29% U3O8 (measured and indicated resource) and 552,000 pounds of U3O8 at a grade of 0.32% U3O8 (inferred resource). (Source: Velvet-Wood Mine Uranium Project, Preliminary Economic Assessment, National Instrument 43-101, Utah USA, Author: BRS Inc.; Date: 05/31/2016).

NI 43-101 Disclosure

The Vanadium Exploration Target Report completed for Velvet-Wood 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.

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:

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.

Arizona/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, 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.

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, has approved the scientific and technical disclosure in the news release. He 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.

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.

Safe Harbor Statement

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.

EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY'S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.

Contact:
Anfield Resources, Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com

Distribution channels: Mining Industry