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Anfield Resources Inc. Receives NI 43-101 Technical Report for the Velvet-Wood Project with a Resource (Measured and Indicated) of 4.627 Million Pounds U3O8
(via Thenewswire.ca) VANCOUVER, BRITISH COLUMBIA -- TNW-ACCESSWIRE -- December 2, 2014...
About this update from Anfield Energy Inc
[{"type":"text","content":"Anfield Resources Inc. Receives NI 43-101 Technical Report for the Velvet-Wood Project with a Resource (Measured and Indicated) of 4.627 Million Pounds U3O8(via Thenewswire.ca)\n\n \n\n\n \n \nVANCOUVER, BRITISH COLUMBIA -- TNW-ACCESSWIRE -- December 2, 2014 -- Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF) (Frankfurt: 0AD) (\"Anfield\" or \"the Company\") is pleased to report that it has received a NI 43-101 Technical Report (the \"Report\") with a mineral resource for the Velvet-Wood project (the \"Project\"). The Technical Report, dated November 14, 2014 and prepared by Douglas L. Beahm of BRS, Inc., estimates that the Project, which includes the combined Velvet and Wood properties, contains a combined measured and indicated resource of 4.627 million pounds of U3O8 at an average grade of 0.29% U3O8. \n\n \n \nThe Report also included an inferred resource of 552,000 pounds of U3O8 at an average grade of 0.32% U3O8. \n\n \n \nThe Project is the most advanced mining target in the portfolio of conventional uranium assets that the Company has agreed to purchase from Uranium One Americas, Inc. (\"Uranium One\") under the asset purchase agreement announced on August 18, 2014. The Project is located in the Lisbon Valley Uranium District, which was historically the largest uranium producing area in Utah. Final transfer of the assets to Anfield is subject to closing of the transaction. \n\n \n \nCorey Dias, CEO of Anfield stated: \"We are very pleased with the results of the technical report for the Velvet-Wood Project. As recommended in the report, after completing the purchase of the Project we intend to move forward with both mine design and feasibility studies for the Project, as we expect that it will be an important source of feed for the anticipated restart of the Shootaring Canyon Uranium Mill. \n\n \n \nWe expect the worldwide demand for uranium to continue to increase, as reflected in the recent rise in the uranium spot price, especially since nuclear utilities, having sat on the sidelines for a significant period of time, have now begun to return to the market to purchase product. As such, uranium produced from this project, and other projects included in the pending transaction, have the potential to play a critical role in meeting this increased demand. Importantly, these projects could also provide an additional source...