Anfield Resources Issued State Mineral Leases in Utah; Pursuit of Near-Term Uranium Production to Complement Its Current Copp...
December 10 2013 - 9:00AM
Marketwired
Anfield Resources Issued State Mineral Leases in Utah; Pursuit of
Near-Term Uranium Production to Complement Its Current Copper
Production Continues
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 10, 2013) -
Anfield Resources Inc. (TSX-VENTURE:ARY) ("Anfield" or "the
Company") is pleased to report that it has been issued nine mineral
leases on Utah State Trust Land. The leases cover a total of
approximately 5,500 acres (2,225 hectares) located across three of
the several uranium mining districts located in southeastern Utah.
In addition, these leases lie within a 100-mile radius of the White
Mesa Mill, the only currently active standard uranium mill in the
United States. Utah has historically been one of the top Uranium
producing states, with the majority of production coming from the
uranium mining districts concentrated in the southeastern part of
the state.
"We are pleased to have been issued these leases as they
complement our recently acquired Uranium assets in Utah," stated
Corey Dias, CEO of Anfield. "The Company now controls over 8,100
acres across several uranium mining districts. Within that acreage
are a significant number of past-producing mines. This transaction
advances our strategic objective of opportunistically acquiring
undervalued assets to pursue near-term production and revenue
generation via toll milling, a production strategy successfully
followed at our Chilean copper asset. We continue to believe in the
likelihood of a shortfall in uranium raw materials due to the
combination of two factors: the number of nuclear reactors
proposed, planned or under construction worldwide - which would
more than double the current number of operating reactors - and the
recent expiration of the 20-year HEU agreement between the US and
Russia."
Below is a summary of the issued leases:
Henry Mountains District
Two of the leases cover past producing uranium workings in the
Henry Mountains Mining District, Garfield County, Utah. The
district as a whole produced an estimated 414,950 lbs U3O8 at an
average grade of 0.24%.
Montezuma Canyon
Six of the leases are located in the Montezuma Canyon Area of
the Monticello Mining District, three of which are prospective, and
three of which include past-producing uranium workings. These
leases are complementary to Anfield's previously-acquired eight
claim groups consisting of 29 claims in this area. Total past
production in this area is estimated at 88,000 lbs U3O8 and 775,000
lbs V2O5, with an average U3O8 grade of 0.24% and 0.31% V2O5.
Desert Area
One lease is located in the Desert Area of the Green River
Mining District, Emery County, Utah. This lease is situated a few
miles from Energy Fuels' San Rafael Uranium Project. Information
regarding pounds of production of U3O8 for the District has not
been forthcoming; however an estimated 600,000 tons of material has
been mined from the District.
Production figures in this report are as reported in
Uranium-Vanadium Occurrences of Utah, Utah Geological and Mineral
Survey Report for the U.S. Bureau of Mines, Open-File Report 18
(1974). The presence of economic uranium mineralization in the Utah
Districts is not necessarily indicative on economic uranium
mineralization on the Anfield properties.
About Anfield Resources
Inc.
Anfield is a publicly-traded corporation listed on the
TSX-Venture Exchange (ARY-V) and is engaged in mineral exploration,
development and production in the United States and Chile. Its
focus is on acquiring and developing an array of strategic mineral
projects, including further developing its nascent copper
production operation in Chile and its uranium assets in Utah and
Arizona, and its longer-term focus on the development of its
Arizona-based copper properties. To find out more about Anfield,
visit its website at www.anfieldresources.com.
R. Tim Henneberry, P.Geo., Advisor to Anfield is the
Qualified Person as defined in National Instrument 43-101, who has
reviewed and approved the technical content of this news
release.
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.
www.anfieldresources.com
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FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING
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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. THIS NEWS RELEASE
SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY
JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE
UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.
Anfield Resources Inc.Corey Dias(604)
687-0300www.anfieldresources.com