Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) announced that it has filed a Notice of Intent (“NOI”), through its wholly owned subsidiary Highbury Resources Inc., with the Colorado Division of Reclamation, Mining and Safety (“DRMS”), to begin a 20-hole, 8,000-foot rotary drill program at the existing JD-7 open pit mine in Montrose County, Colorado.
The purpose of the in-field exploratory drilling program is to expand Anfield’s hub-and-spoke uranium and vanadium production model. The program will: 1) collect geologic information related to uranium mineralization in multiple sandstone hosted deposits throughout the area; 2) confirm the existing pit resources; and 3) confirm the extent and location of underground uranium and vanadium resources.
Following the recent environmental permit approval for the Company’s Velvet-Wood mine, and the Company’s upcoming Plan of Operations submittal to the Bureau of Land Management (“BLM”) for its Slick Rock mine, Anfield continues to advance its pipeline of uranium and vanadium projects in anticipation of mill restart in 2027.
The current U.S. Administration’s commitment to secure domestic energy sources, and the government Agencies responsible for implementing this work, provides Anfield with a near-term pathway to produce and contribute to significant domestic uranium demand.Corey Dias, CEO, Anfield Energy Inc.
The JD-7 open pit mine has had historical production as shown in Table 1.1 below and the current mineral resources are summarized in Table 1.2.
Table1.1. JD-7 Historical Production
Table 1.2. JD-7 Mineral Resource Estimates*
While no formal economic evaluation, Preliminary Economic Assessment (PEA), Preliminary Feasibility study (PFS), or Feasibility Study (FS) has been completed and while mineral resources are not mineral reserves and do not have demonstrated economic viability, reasonable prospects for future economic extraction were applied to the mineral resource estimate herein through consideration of grade and GT cutoffs and by screening out areas of isolated mineralization which would not support the cost of conventional mining under current and reasonably foreseeable conditions.
Qualified Persons
Douglas L. Beahm, P.E., P.G., principal engineer at BRS Inc., is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical content of this news release.
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