- Anfield Energy (AEC) is acquiring Artillery Peak uranium properties in Arizona
- The company signed a definitive agreement with Wayne Minerals to acquire 50 unpatented mining claims in the uranium-rich Artillery Peak project area, located in Mohave County, Arizona
- Historical records indicate a potential uranium resource in the Artillery Peak/Date Creek Basin area of approximately 2.8 million pounds of U308
- Anfield Energy (AEC) is a uranium and vanadium development and near-term production company
- Anfield Energy (AEC) is trading at C$0.07 as of 2:00 pm ET
Anfield Energy (AEC) is acquiring Artillery Peak uranium properties in Arizona.
The company signed a definitive agreement with Wayne Minerals to acquire 50 unpatented mining claims in the uranium-rich Artillery Peak project area, located in Mohave County, Arizona.
The mining claims are next to Anfield’s current project in the Date Creek Basin and increase Anfield’s uranium asset acreage in the area. Historical records indicate a potential uranium resource in the Artillery Peak/Date Creek Basin area of approximately 2.8 million pounds of U308.
Significant exploration work was completed in the 50s, including over 400 holes drilled by several mining companies. Anfield is looking to hire an engineering firm to review the data of mining claims in order to assess the resource prospects for the combined projects.
Corey Dias, Anfield’s CEO, says:
“As part of an overall production strategy, we continue to expand our conventional uranium and vanadium assets through strategic tuck-in acquisitions, such as the Artillery Peak claims. Our aim is to pursue assets to fit both near-term and longer-term production strategies. The near-term strategy centers on our Colorado and Utah uranium and vanadium mines underpinned by our wholly-owned Shootaring Canyon mill, one of only 3 licensed mills in the U.S. The longer-term production strategy is to acquire complementary assets with the potential to feed additional pounds to our Shootaring Canyon mill.”
As consideration for the mining claims, Wayne Minerals will receive $150,000 in cash, 25 million common shares in Anfield and a 3 percent net smelter royalty (NSR) on uranium production from the mining claims. Anfield will be able to buy back the royalty for $150,000 per percentage point.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. The resource estimates cited above are based on data and reports prepared by the previous operator of the project. These resource estimates are of a historic nature. Work necessary to independently verify the classification of the mineral resource estimates in accordance with National Instrument 43-101, verified by a qualified person, and in compliance with CIM standards has not been completed.
Anfield Energy (AEC) is a uranium and vanadium development and near-term production company.
Anfield Energy (AEC) is trading at C$0.07 as of 2:00 pm ET.
