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Anfield Resources (TSXV:ARY,OTCQB:ANLDF,FWB:0AD) announced that it has engaged BRS, Inc. to complete a preliminary economic assessment for the Velvet-Wood Uranium Project, the most advanced mining target in the portfolio of conventional uranium assets acquired from Uranium One Americas, Inc.
As quoted in the press release:
The PEA will be based on the NI 43-101 technical report recently prepared by BRS, dated November 14, 2014, which concluded that the Project contains a combined measured and indicated resource of 4.627 million pounds of U3O8 at an average grade of 0.29% U3O8. The scope of the PEA will include an analysis of the economics of both recommencing production from the Velvet deposit and beginning production at the Wood deposit. In addition, the PEA will explore alternatives for processing, such as the potential for conducting on-site heap leaching as a first-stage processing step with final processing taking place at the Shootaring Mill. This processing alternative would have the potential to significantly reduce both the weight and volume of the material to be transported to the Shootaring Mill, hence costs. – See more at: https://thenewswire.ca/archives?tnwcatalyst2=release_id%3D15543#sthash.BxdCTBJp.dpuf
Anfield CEO, Corey Dias, said:
We believe that engaging BRS to conduct the PEA on the past-producing Velvet-Wood deposit is timely and advantageous for to the Company for a number of compelling reasons: first, the Project, located in a historically prolific Uranium mining district, is the most advanced asset in the portfolio of properties which the Company is acquiring from Uranium One; second, considerable work has already been done, as BRS prepared a draft feasibility study in 2008 for the Project.; third, the uranium spot price has increased by 30% since its mid-2014 lows; fourth, the Project is expected to be an important source of feed for the Shootaring Canyon mill, once the mill is restarted pending regulatory approval; and last, additional processing alternatives will be explored, such as on-site heap leaching, that have the potential to greatly reduce transportation costs. We are excited to be taking this important next step in the measured progression of our uranium assets towards production. – See more at: https://thenewswire.ca/archives?tnwcatalyst2=release_id%3D15543#sthash.BxdCTBJp.dpuf
Click here to read the Anfield Resources Inc. (TSXV:ARY) press release
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