Anfield Resources Inc. Considers Vanadium Potential of its Assets
VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 19, 2016 -- Anfield Resources Inc. (TSX.V: ARY) (FRANKFURT: 0AD)("Anfield" or "the Company"), as part of its asset review, has identified for consideration the vanadium potential of both its Velvet-Wood uranium property and its Henry Mountains uranium property. Both of these assets were acquired as part of the Uranium One transaction.
Velvet-Wood Project
The Velvet-Wood Project is one of the most advanced conventional uranium projects in the U.S. Between 1979 and 1984, approximately 400,000 tons of ore were mined from the Velvet Deposit at grades of 0.46% U3O8 and 0.64% V2O5 (vanadium oxide), recovering approximately 4 million pounds of U3O8 and 5 million pounds of V2O5 (vanadium oxide),.
The remaining mineral resources of the combined Velvet and Wood mines have been estimated to comprise 4.6 million pounds of U3O8at a grade of 0.29% U3O8 (measured and indicated resource) and 552,000 pounds of U3O8 at a grade of 0.32% U3O8 (inferred resource). A vanadium resource has not yet been calculated. (Source: Velvet-Wood Mine Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report, Author: BRS Inc.; Date: 11/14/2014)
Henry Mountains Project
Henry Mountains lies within twelve miles of the Shootaring Canyon mill. Based on historical production and resources hosted by the Salt Wash Member of the Jurassic Morrison Formation, US Energy identified geological targets within two areas of the Henry Mountains. Combined the potential of these two target areas is 5 million tons grading 0.3% U3O8 to 0.4% U3O8 containing 30 to 40 million pounds of U3O8 and 0.5% V2O5 (vanadium oxide), to 0.6% V2O5, containing 50 to 60 million pounds of V2O5 .
US Energy stated that the potential quantity and grade of the exploration targets were conceptual in nature and there was no assurance the targets would be further defined by further exploration drilling. Further, Anfield Resources Inc. has been unable to verify the data and further states that the presence of uranium mineralization and geological targets on the US Energy property are not necessarily indicative of similar mineralization on the Anfield Resources Inc. Henry Mountains property.
Vanadium Market
The historical vanadium market focused on its ability to strengthen steel and other alloys, along with increased use in the aerospace and military markets. However, with the greater awareness of the risks associated with climate change and GHGs, vanadium has become a significant player in the energy market. Vanadium has the ability to store mass energy via vanadium flow batteries (VFBs), which strengthens the renewable energy proposition of both wind and solar power. Moreover, lithium-vanadium phosphate batteries continue to bridge the perceived reliability gap between electric vehicles and their gas-driven counterparts. Industry spending on energy storage is expected to be approximately US$75 billion in 2016, reaching US$200 billion in 2020 alone.
About Anfield's Properties
Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V) and the Frankfurt Stock Exchange (0AD).
On behalf of the Board of Directors
Corey Dias, Chief Executive Officer
R. Tim Henneberry, P.Geo., Advisor to Anfield is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Anfield Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com
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