Anfield diversifies from core uranium focus

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Anfield Energy Inc. [AEC-TSXV, ANLDF-OTCQB, 0AD-FSE] said Thursday March 4 that it has engaged BRS Engineering to facilitate the advancement of the company’s recently acquired Newsboy gold and silver project in Maricopa County, Arizona.

The company said BRS will review the large number of drill holes, drill ready targets and metallurgical data acquired by Anfield to update the current resource estimate and to create a more detailed and comprehensive plan for further step-out and in-fill drilling.

“Newsboy is an unheralded gem with a historical gold-silver resource and the potential for step-change resource expansion,” said Anfield CEO Corey Dias. “Engaging BRS to update resource estimates and to delineate an efficient and effective drill program for all sections of the property will take Anfield to the next level of project development.”

Anfield is a uranium and vanadium development company. Its asset portfolio includes the Shootaring Canyon Mill in Garfield County, Utah. Shootaring ranks as one of only three licensed, permitted and constructed conventional uranium mills in the U.S.

The company’s flagship Charlie uranium project is located in the Pumpkin Buttes Uranium District, Wyoming. The project consists of a 720-acre uranium lease which has been in development since 1969.

Anfield said the Newsboy program serves its strategy of selectively seeking out, acquiring and developing advanced U.S.-based assets in commodities, in addition to uranium, to diversify its portfolio, while continuing to operate in attractive low-risk U.S. jurisdictions.

In December, 2020, Anfield said it had signed a deal to acquire a 100% interest in the Newsboy Gold project. It said the acquisition would serve as Anfield’s first step in a revised strategy to diversify its portfolio away from its core focus on uranium.

Newsboy is located 60 km northwest of Phoenix, and consists of 2,243-acres of land comprised of 35 Federal lode claims and four state leases. A 2009 technical report estimates that the project contains a total in-situ resource of 5.3 million tonnes in the following categories. A measured resource of 127,000 ounces of gold and 2.2 million ounces of silver, and indicated resource of 43,000 ounces of gold and 471,000 ounces of silver and an inferred resource of 65,000 ounces of gold and 765,000 ounces of silver.

Anfield said it considers these estimates to be historical in nature. However, it said the 2009 technical report identified areas in which the author, based on geologic interpretation, felt that the resource could be expanded.


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