Business
(AUDIO ENHANCED) Anfield Resources Inks Deal to Acquire Shootaring Canyon Uranium Mill and Conventional Uranium Assets
(via Thenewswire.ca) VANCOUVER, BRITISH COLUMBIA--TNW-ACCESSWIRE--August 18, 2014 --An...
About this update from Anfield Energy Inc
[{"type":"text","content":"(AUDIO ENHANCED) Anfield Resources Inks Deal to Acquire Shootaring Canyon Uranium Mill and Conventional Uranium Assets(via Thenewswire.ca)\n\n \n\n\n\n \nVANCOUVER, BRITISH COLUMBIA--TNW-ACCESSWIRE--August 18, 2014--Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF) (\"Anfield\" or \"the Company\") is thrilled to announce that it has entered into definitive agreements with Uranium One to acquire the Shootaring Canyon uranium mill (the \"Shootaring Mill\") located in Garfield County, Utah, and a portfolio of conventional uranium assets containing a historical estimate of U3O8 resource of 6.8 million poundsi (see Table 1 below). The properties, located in Utah, Arizona and South Dakota increase Anfield's uranium asset acreage by more than 250%. The deal, which is valued at five million US dollars, will be settled over a period of up to four years with a combination of cash and shares.\n\n \n \nTo hear further details of this acquisition and overall information on Anfield Resources on MarketRadio.ca, click here;\n\n \n \nhttp://thenewswire.ca/client_files/2014-07-07-0.mp3 \n\n \n \nThis transaction provides a number of strategic advantages to Anfield, including:\n\n \n \n\n\n-Potential creation of one of the very few uranium producers in the U. S. \n\n\n\n\n\n-Shootaring Canyon Mill is one of only three licensed uranium mills in the United States, reflecting its scarcity value.\n\n\n\n\n\n-The establishment of Anfield as one of the largest owners of uranium properties in the U.S.\n\n\n\n\n\n-Increases Anfield's uranium asset acreage by more than 250% to reach approximately 65,500 acres (~26,507 hectares).\n\n\n\n-Adds a historical estimate of U3O8 resource of 6.8 million pounds.\n\n\n\n-The flagship resource, the Velvet-Wood Deposit, contains a historical resource estimate of 4.63 million pounds of measured and indicated U3O8 at an average grade of 0.285%.ii\n\n\n\n-Past production at Velvet-Wood recovered 4 million pounds at an average grade of 0.46% U3O8.iii\n\n\n\n\n\n-The location of the acquired assets is positive from a production perspective\n\n\n\n\n\n-The geographical position of both the Shootaring Mill and the acquired uranium properties are within one of the historically most prolific uranium production areas in the U. S.\n\n\n\n-Anfield's uranium holdings, which include past producing mines, lie within a 125-mile radius...