Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) announced today that it has signed a definitive agreement to acquire the Shootaring Canyon uranium mill located in Garfield County, Utah. The transaction will also include a portfolio of conventional uranium assets which contain a historically estimated resource of 6.8 million pounds of U308, and will establish Anfield as one of the largest owners of uranium properties in the United States.
As quoted in the press release:
The properties, located in Garfield County, Utah, Arizona and South Dakota increase Anfield’s uranium asset acreage by more than 250%. The deal, which is valued at five million US dollars, will be settled over a period of up to four years with a combination of cash and shares.
The flagship resource, the Velvet-‐Wood Deposit, contains a historical resource estimate of 4.63 million pounds of measured and indicated U3O8 at an average grade of 0.285%.ii
Anfield CEO, Corey Dias, said:
We are extraordinarily excited about the acquisition at it is transformational for the Company. With the acquisition of one of only three licensed and permitted uranium mills in the United States, we have significantly accelerated our timeline with regard to becoming a uranium producer. The mill is currently in good condition as it has been o continuous care and maintenance since it ceased operations. Finally, with the recent positive news with regard to Japan’s steps toward restarting two of its nuclear reactors, we are confident that uranium will continue to play a significant role in the energy sector both today and into the future.