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Anfield Energy Applauds the US Government’s US$1.5B Uranium Reserve Proposal in its FY21 Federal Budget
VANCOUVER, British Columbia, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) appla
About this update from Anfield Energy Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) applauds the Trump Administration’s proposal to create a strategic uranium reserve as part of its FY21 Federal Budget. Under the proposal, the Department of Energy would have US$150M per year – for a period of 10 years – at its disposal to purchase uranium from US producers. This proposal “reflects the Administration’s Nuclear Fuel Working Group (NFWG) priorities”. Corey Dias, Anfield’s CEO, stated, “We are very pleased with the US government’s proposal to create a strategic uranium reserve. This is a critical first step to provide US uranium producers and near-term producers with a dedicated, improved domestic market for its material. Moreover, the NFWG may have additional recommendations on which the Administration might act that could further improve the prospects of US-based uranium miners and producers. Anfield is well-positioned to contribute to the Uranium Reserve. With its 25 Wyoming-based projects – led by the advanced and low-cost Charlie ISR uranium project – the Company has created an ISR uranium mine-and-mill complex which is underpinned by a Resin Capture and Processing Agreement with Uranium One which allows Anfield to process up to 500,000 pounds of uranium per year. In addition, Anfield has created a conventional mine-and-mill complex within Utah and Colorado which is underpinned by its 750-ton-per-day Shootaring Canyon mill, one of only three licensed, permitted and constructed conventional uranium mills in the US”. Charlie Uranium ProjectInexco Oil began exploration drilling on the Charlie Project in 1969 and over a two-year period completed 215 holes, comprising 91,000 ft. of drilling. A joint venture was formed with Uranerz USA, Inc. (“Uranerz”) in 1974 and an additional 715 holes were completed, including 57 core holes, totaling 283,906 ft. Cotter acquired the project from Uranerz and proceeded to evaluate it for both conventional open pit and in situ mining methods. Cotter excavated a 200 ft. test pit in 1981 on a small ore zone east of the main trend. Falling uranium prices in the 1980s halted further development on the project. Anfield acquired the project from Cotter in 2019. BRS Engineering has completed a Preliminary Economic Assessment (PEA) ...