The plan outlines an increase in mill throughput capacity to 1,000 tons per day from 750 tons per day and an increase in annual uranium production capacity to 3 million pounds from 1 million pounds. The Shootaring mill – one of only 3 licensed, permitted and constructed conventional uranium mills in the
“We believe that it is important to highlight the challenges related to starting this process from a greenfield position to reaching Anfield’s current production position. For example, a company with no existing radioactive materials license or mill site would need: 1) to secure an appropriate site for mill construction and tailings buildout; 2) to complete baseline environmental studies regarding potential environmental impacts of mill operations to satisfy NEPA requirements (typically a two to three-year undertaking); 3) access to infrastructure – roads and power; and 4) the radioactive materials license itself, which requires the submittal of a comprehensive application that incorporates not only the previous items, but also a mill facility and tailings construction, operation and reclamation and decommissioning plan, including confirmatory studies outlining emissions related to mill operations, as well as other ancillary permits.
“Finally, the installation of
Next Steps
Early-stage refurbishment of Shootaring will take place during the review of the restart application, preparing the Company to complete refurbishment as soon as the restart application is approved. The Company is targeting the mill restart in 2026.
With the application submitted to the UDEQ, the Company can prepare for uranium mill and tailings refurbishment and vanadium circuit construction. Steps include: the rough grading of the tailings pond cell area in advance of cell design approval; the moving of ore stockpiles and remediation of sections of the restricted area to establish a new radiation control boundary; the building of a new ore dump wall and transportation roads, along with a truck wash station; the demolition of all infrastructure to be replaced (e.g., electrical, controls, leach tanks); the installation of new generators, acid tanks and fuel tanks; the construction of the vanadium circuit building and counter-current decantation (CCD) circuit footers; the building of new ore pads where Velvet-Wood ore can be stockpiled in anticipation of mill restart; and the ordering of tanks and vessels needed for processing circuits, having equipment onsite and ready to install once the license is approved.
Uranium Market Outlook
The nuclear renaissance remains robust, with no shortage of positive news entering the market daily. The continued buildout of new reactors in disparate regions such as
While the demand side of the uranium market is rapidly growing, the supply side continues to face challenges to meet demand. Recent concerns regarding Kazatomprom’s ability to meet its production targets, coupled with recent floods in
While these challenges are likely to remain in the near term, the US government’s recognition of these issues has led to the creation of a 200GW energy roadmap to expand domestic milling and mining operations by 500,000MT per year – 110 million pounds of uranium per year – is a significant catalyst for US-based producers. This is taking place while
About Anfield
Anfield is a uranium and vanadium 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 assets. Anfield is a publicly traded corporation listed on the
A key asset in Anfield’s portfolio is the
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern
See table and footnote below for additions.
Technical Disclosure
Table 1. Anfield’s existing conventional uranium-vanadium project portfolio resources.
Project | Location | Classification | Tons (kt) | Uranium Grade (% U3O8) | Contained Uranium (Mlbs U3O8) | Vanadium Grade (% V2O5) | Contained Vanadium (Mlbs V2O5) |
Velvet-Wood | M & I | 811 | 0.29% | 4.6 | - | - | |
Inferred | 87 | 0.32% | 0.6 | 0.404% | 7.3 | ||
West Slope | Indicated | 1,367 | 0.197% | 5.4 | - | - | |
Inferred | 1,367 | - | - | 0.984% | 26.9 | ||
Historic* | 630 | 0.31% | 3.9 | 1.59% | 20.0 | ||
Slick Rock | Inferred | 1,760 | 0.224% | 7.9 | 1.35% | 47.1 | |
Frank M | Historic* | 1,137 | 0.101% | 2.3 | - | - | |
Historic* | 211 | 0.226% | 1.0 | - | - | ||
Historic* | 2,602 | 0.054% | 2.8 |
Historic* | 7,100 | 0.127% | 18.1 |
* The Company’s Qualified Person has not done sufficient work to classify these historic estimates as current mineral resources and Anfield is not treating such historical resources as current mineral resources.
Velvet-Wood: The PEA for Velvet-Wood/Slick Rock was authored by Douglas L. Beahm, P.E.,
West Slope: NI 43-101 resource estimate for the JD-6, JD-7, JD-8 and JD-9 properties, completed by
Slick Rock: The PEA for Velvet-Wood/Slick Rock was authored by Douglas L. Beahm, P.E.,
Frank M: Historic Technical Report for Frank M, prepared for
Artillery Peak:
On behalf of the Board of Directors
Neither
Contact:
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780-920-5044
contact@anfieldenergy.com
www.anfieldenergy.com
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