Anfield Resources Inc. has acquired the following historical resources:
- The most advanced asset in Anfield’s uranium portfolio.
- Between 1979 and 1984 approximately 400,000 tons of ore were mined from the Velvet deposit at average grades of 0.46% U3O8 and 0.64% V2O5 (recovering approximately 4 million pounds of U3O8. and 5 million pounds of V2O5).*
- Some underground infrastructure is already in place at the Velvet mine, including a 3,500 ft long, 12’ x 9’ decline to the ore body.
- The historical mineral resources of the combined Velvet and Wood mines have been estimated to comprise 4.6 million pounds of U3O8 at an average grade of 0.285% U3O8 (measured and indicated resource) and 638,500 pounds of U3O8 at an average grade of 0.173% U3O8 (inferred resource).**
* Source: Lisbon Valley, Utah’s Premier Uranium Area, A Summary of Exploration and Ore Production, William L. Chenoweth, Utah Geological and Mineral Survey Open-File Report 188, July 1990.
**Source: 2016 PEA, The PEA completed for Velvet-Wood has been authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS Inc., Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and Associates Inc.
See “Summary of Uranium One Conventional Uranium Asset Transaction”for more information regarding the status of the properties described in this section.
- Located approximately 12 km north of the mill in Utah.
- Historical mineral resource estimate of 2.2 million pounds of U3O8 at an average grade of 0.101%.*
*Source: Frank M Uranium Project, 43-101 Mineral Resource Report, Garfield County, Utah USA, BRS Inc., June 10, 2008.
See ““Summary of Uranium One Conventional Uranium Asset Transaction” for more information regarding the status of the properties described in this section.
- The Findlay Tank Breccia Pipes are located in northern Arizona.
- Findlay Tank Breccia Pipe: Historical mineral resource estimate (inferred) of 954,000 pounds of U3O8 at an average grade of 0.23%.*
- Average grade of breccia pipe deposits is typically higher than other U. S. uranium deposits.