Anfield Energy tags West Slope project at 1.37Mt 0.197% eU3O8, Colorado
Anfield Energy Inc. [AEC-TSXV; ANLDF-OTCQB; 0AD-FSE] reported that BRS Inc. has completed a mineral resource estimate for four of the nine uranium and vanadium properties – known as JD-6, JD-7, JD-8 and JD-9 – contained within its 100%-owned West Slope project located in the prolific Uravan region of Colorado.
There is an Indicated Mineral Resource of 1,367,000 tons of mineralized material with an average grade of 0.197% eU3O8 (equivalent to an Indicated Resource of 5,381,000 pounds of eU3O8). There is an Inferred Mineral Resource of 1,367,000 tons of mineralized material with an average grade of 0.984% V2O5 (equivalent to an Inferred Resource of 26,906,000 pounds of V2O5).
The resources above are shown at a grade-thickness cut-off of 0.10 ft% eU3O8. The Technical Report for the four West Slope properties will be issued within 45 days.
Corey Dias, Anfield CEO, stated: “We are very pleased to receive an updated resource estimate for a portion of the properties at West Slope, which continues to hold additional historic uranium and vanadium resources within the project area. Globally, we view these resources as an integral source of material for our conventional asset production plan, which is underpinned by our Shootaring Canyon mill. Given the company’s recent focus on our conventional asset base, and the advancement of plans to realize a path to production through this portfolio, today’s news underscores the strength of our burgeoning conventional mine-and-mill complex.
“The continued geopolitical unrest in Eastern Europe and Central Asia has brought to bear the inherent uncertainty of the uranium global supply chain. We believe that a shift to North American supply is underway, providing Anfield with a significant opportunity to contribute to this effort.”
The West Slope Project, located in Montrose and San Miguel Counties of southwestern Colorado, consists of nine Department of Energy (DOE) leases, associated with adjacent lode mining claims and leases, covering 6,913 acres on which past uranium production has taken place. Between 1977 and 2006, approximately 1.3Mlbs of uranium and 6.6Mlbs of vanadium were produced from these mines.