Anfield Energy Inc. (NASDAQ: AEC) (TSX.V: AEC) (FRANKFURT: 0AD) announced that it has received its blasting permits from the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) for its mines in both Utah and Colorado (the “ATF Permits”).
This important regulatory milestone enables Anfield to initiate a drilling and blasting campaign within the coming weeks at the Velvet-Wood project (“Velvet-Wood”) to access new portions of the mineralized materials that were not reachable by the historic workings. The ATF Permit for Colorado further positions the Company to commence mining at its JD-8 mine immediately upon completion of remaining permitting, expected later this year.
The receipt of these ATF Permits is a critical step in the Company’s development plans. It marks the transition from rehabilitation and surface preparation to active underground mining operations. At Velvet-Wood, Anfield is preparing for conventional room-and-pillar underground mining, a proven method historically used successfully in the Lisbon Valley district. This approach involves systematically extracting mineralized material in a grid-like pattern of “rooms” while leaving pillars of ore or rock in place to support the roof, ensuring safe and efficient extraction of uranium-vanadium mineralization in the sandstone-hosted deposits.
Corey Dias, CEO of Anfield, commented: “Receiving the ATF Permits for our Utah and Colorado mines is a major milestone that unlocks our ability to advance underground development. At Velvet-Wood, this will allow us to drill and blast new sections of the mineralized materials, transitioning us from development to active mining activities in one of America’s premier uranium districts.
These ATF Permits are especially significant as Velvet-Wood was the first uranium mine advanced under the current administration. Anfield is proud to contribute to the national effort to expand domestic nuclear capacity and strengthen U.S. energy security. We remain on track to return the Velvet-Wood mine to production by the end of 2026.”
Lisbon Valley is one of the largest and most productive uranium mining districts in the United States, with historical production totaling approximately 78 million pounds of U₃O₈ between 1948 and 1988. The significance of advancing Velvet-Wood under the current ATF Permits is underscored by the fact that the Velvet-Wood mine last produced in 1984, and the broader district was largely shuttered by 1988. For more than 40 years, this resource has awaited the resurgence of the U.S. uranium industry.
This progress aligns with Anfield’s hub-and-spoke strategy, leveraging the fully permitted Shootaring Canyon Mill in Utah alongside its high-quality uranium-vanadium assets in Utah and Colorado.
About Anfield
Anfield is a uranium and vanadium development company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the NASDAQ (AEC-Q), the TSXV (AEC-V) and the Frankfurt Stock Exchange (0AD).
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