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The profile below is part of a campaign paid for by Anfield Resources. This profile provides detailed information, helping investors make better investment decisions. Anfield Resources’ support of Uranium Investing News ensures we can continue to bring you unbiased, independent news and information.

Anfield Resources Inc. – US Near-term Uranium Producer

Anfield Resources Inc. – US Near-term Uranium Producer


Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) is an energy metals exploration, development and near-term production company focused on becoming a top-tier uranium company in the United States. Anfield Resources recently completed the acquisition of Uranium One’s (TSX:UUU) US uranium assets covering 48,000 acres including the Shootaring Canyon Mill in Utah. One of only three licensed uranium mills in the US, the Shootaring Canyon Mill is now the key asset in Anfield Resources’ portfolio along with the past-producing Velvet-Wood Project.

Through the Uranium One transaction, Anfield has also acquired an impressive portfolio of uranium assets—including the Frank M Uranium Project, the Findlay Tank breccia pipe and a 50-percent interest in the Wate breccia pipe — two surface stockpiles totaling 415,000 pounds U3O8, and a number of royalty arrangements on projects held by other publicly-traded companies.

“All our uranium assets are located in the US, one of the world’s lowest-risk and most favorable uranium jurisdictions, and host of the world’s largest uranium requirements,” commented Corey Dias, CEO of Anfield Resource. “The assets are synergistic and provide a strategic, stepped approach to production and revenue generation.  Our acquisition has fortuitous timing as our carefully-selected US projects are positioned to benefit from renewed US interest in clean nuclear energy and domestic uranium producers, and the strengthening global uranium market.”

On November 5, 2015, Anfield Resources announced it had sold back its 50-percent interest in the Wate breccia pipe project to Energy Fuels (TSX:EFR) in a cash-and-stock transaction valued at $1.1 million. “We will continue to focus on our development of the Velvet-Wood mine and the Shootaring Canyon mill, the key assets at the heart of our Uranium One transaction,” stated Dias.

Investment Highlights

  • Shootaring Canyon Mill is one of only three licensed uranium mills in the United States
  • Conventional acid-leach facility with permitted capacity of 750 tonnes per day, but with a capacity to process 1,000 tonnes per day
  • Mill valued at an estimated $80.5 million
  • Uranium One transaction includes an NI 43-101 compliant measured and indicated U3O8 resource of 4.6 million pounds and a historical measured and indicated U3O8 resource of 2.2 million pounds
  • Existing surface stockpiled ore of historical 415,000 pounds U3O8
  • Exploration upside potential at both Velvet-Wood and Frank M projects
  • Velvet-Wood project is one of the most advanced conventional uranium projects in the United States—PEA planned
  • Mining assets are located within a 150 mile radius of the mill
  • Jurisdiction advantage – Located in the state of Utah, an “agreement state” with a rich mining history
  • Royalty agreement with Powertech Uranium Company and three royalty agreements with Energy Fuels
  • Copper properties in Arizona and Chile offer asset diversification to Anfield’s portfolio

Flagship Asset: Shootaring Canyon Mill

The Shootaring Canyon Mill is strategically located in Garfield County, Utah, within one of the most historically prolific uranium production areas in the United States. Shootaring Canyon is one of only three licensed, permitted and constructed conventional uranium mills in the country. Valued at $80.5 million, the mill is a conventional acid-leach facility permitted to process up to 750 tonnes of ore per day, with a capacity to process up to 1,000 tonnes per day.

Anfield Resources Inc. – US Near-term Uranium Producer

Historical production at the Shootaring Canyon Mill included 27,825 pounds of U3O8 with metallurgical recoveries of more than 90 percent. The mill is in good condition and Anfield Resources expects it can be refurbished relatively quickly and at low cost.

One of the two surface stockpiles acquired by Anfield Resources through the Uranium One transaction is located within a mile of the mill. The Shootaring Canyon stockpile contains a historical estimate of 250,000 pounds of U3O8 at an average grade of 0.13 percent U3O8. Anfield Resources intends to conduct a sampling program and survey to upgrade the historical estimates to a current resource.

All of the uranium mining assets acquired by Anfield Resources under the Uranium One transaction are located within a 150 mile radius of the Shootaring Canyon Mill.

Flagship Resource: Velvet-Wood Project

The Velvet-Wood Project is one of the most advanced conventional uranium projects in the United States. The project is located in Utah’s Lisbon Valley, the largest uranium district in the state, where uranium ore deposits lie in an articulate belt 16 miles long by one mile wide.

The project includes the past-producing Velvet Mine and the unexploited Wood Mine, which together have an NI 43-101 resource estimate of 4.627 million pounds of measured and indicated U3O8 at an average grade of 0.29 percent and 552,000 pounds of inferred U3O8 at a grade of 0.32 percent U3O8.

Anfield Resources Inc. – US Near-term Uranium Producer

During its operation between 1979 and 1984, the Velvet Mine produced approximately 4 million pounds at an average grade of 0.46 percent U3O8. Based on the current permits in place, Ansfield believes there is potential to recommence production at the Velvet Mine within twelve months . A Notice of Intent to commence large mining operations has been approved by the Utah Division of Oil, Gas and Mining. Existing infrastructure at the Velvet mine includes a 3,500-foot long decline to the resources, which would allow for exploitation of the deposit while the Wood Mine is under development.

In February 2015, Anfield Resources announced it had engaged BRS, Inc. to complete a preliminary economic assessment  (PEA) analyzing the economics of restarting production at the Velvet Mine and beginning production at the Wood Mine. The PEA will also explore the potential for conducting on-site heap leaching as a first-stage processing step, with final processing taking place at the Shootaring Mill. BRS is a consulting firm with extensive knowledge of the Velvet-Wood project, having authored four technical reports on the property.

Copper properties offer asset diversification to Anfield’s portfolio

The Binghampton Copper Queen property is a volcanogenic massive sulphide (VMS) project consisting of 5,021 acres within the Arizona VMS Belt. The Arizona VMS Belt contains 70 known deposits including 48 past and present producers. The Binghampton Copper Queen property hosts four known VMS zones, including the past producing Binghampton Mine and the developed, but never operated, Copper Queen Mine.

Anfield Resources Inc. – US Near-term Uranium Producer

Copper oxides at Binghampton Mine


The North Star Copper project is located less than 50 miles northwest of Tucson in the heart of the Arizona VMS Belt and covers approximately 4,000 acres. Historic production from the North Star Mine averaged 1.31 percent copper.

The Aura Project is located in Atacama, Chile and consists of eight mining concessions totaling more than 2,800 acres in one of the foremost copper producing regions in the world.


Corey Dias—Chief Executive Officer and Director

Corey Dias began his capital markets career in institutional equity research at CIBC in the Canadian Telecommunications sector and has gained further equity research and equity sales experience in other sectors — including mining — at other boutique investment firms. In addition, he was a Vice President at Fortress Investment Group, a major U.S. based hedge fund, where he was involved in the management of a $400 million investment portfolio. His past experience also includes time spent as a management consultant in the Stockholm office of The Monitor Group, a U.S. based strategy-consulting firm. Dias holds a Master of Business Administration from the Richard Ivey School of Business at the University of Western Ontario.

Don Falconer—Director

Don Falconer has more than 35 years of experience in the uranium and nuclear utility sectors. His experience in the private sector includes positions with a number of prominent uranium companies, including Southern Cross Resources (the predecessor of Uranium One), Uranium One and Aurora Energy Resources, where he focused primarily on uranium marketing and sales. In addition, Falconer has more than 16 years of Board experience with publicly traded companies in various roles, including Energy Fuels (Director), Southern Cross Resources (Director and Corporate Secretary) and AusAmerican Mining (Chairman and Director). He also spent 7 of his 20 years with Ontario Hydro in its Nuclear Division.

Joshua Bleak—Director

Joshua Bleak is a fourth-generation miner from an Arizona mining family that has developed gold, silver, copper and uranium properties throughout the southwestern United States. He is currently the President and CEO of Passport Potash, a publicly traded Canadian potash exploration company. He was previously President of American Energy Fields, Inc., a U.S. publicly‐traded uranium company. Currently he serves as a director for a number of Canadian junior mining exploration companies and has been instrumental in raising capital for those companies.

Jim Rasmussen—Director

Jim Rasmussen is a senior geologist with more than 40 years of experience gained while working in all stages of the mining process, ranging from exploration to mine development and operation in both the uranium and other resource industries. His development of uranium expertise began while working at Energy Fuels Nuclear Inc. in 1977 and, most recently, he served as Manager of Exploration for Uranium One Americas. In addition to his uranium experience, Rasmussen has served as a general manager for an exploration service company where he evaluated both base and precious metal deposits in the U.S. and as a contract geologist for ASARCO where he evaluated gold deposits in the United States. Rasmussen also operated an underground gold mine in Honduras and has worked on mining project evaluations in Panama and Peru.

Toby Wright—Director

Toby Wright, a registered geologist, has more than 20 years of environmental consulting experience. In 1994, he served as lead hydrogeologist for Western Nuclear Inc.’s Split Rock uranium mill reclamation project. Since then, Wright’s experience included his role as the U.S. D.O.E.’s Technical Assistance Contract Manager for the Moab UMTRA project and his position as Environmental Manager for the Conventional Mining Group of Uranium One Americas. In 2010, he formed Wright Environmental Services Inc. to service mining clients throughout the western U.S. in the area of applied hydrology related to mining and milling projects. Wright holds a Master of Geotechnical Engineering from Colorado State University.

Stephen P. Butrenchuk—Director

Stephen Butrenchuk has more than 40 years of experience in mining and mineral exploration, development and operations. He was the President and CEO of Pacific Potash and has served as a senior officer and director of several public resource companies. Butrenchuk has significant exploration and geology management experience working for majors (16 years with Cominco). He is a former Consulting Geologist for the Geological Survey of British Columbia, he is also a Member of the Association of Professional Engineers and Geoscientists of Alberta.

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