Anfield Energy Advances Velvet-Wood Mine Project
Anfield Energy Inc. (NASDAQ: AEC; TSX.V: AEC; FRANKFURT: 0AD) has received crucial regulatory approval for the construction of its Velvet-Wood mine project. This significant development allows the company to accelerate preparations to commence construction and production shortly. Mobilization is expected to begin immediately, with groundbreaking anticipated within a month.
Key Steps for Velvet-Wood
Construction and Operations Timeline
The company has laid out a series of critical milestones that will guide the progress of the Velvet-Wood project. These include reopening the mine portal, dewatering the mine, and constructing necessary surface facilities. Additionally, inspections for the underground areas and planning for a new incline into the mine are on the agenda. This comprehensive plan aims to establish a robust operational framework for the project.
Supporting U.S. Energy Security
By advancing Velvet-Wood, Anfield is reinforcing its commitment to enhancing U.S. energy independence. This effort aligns with the company’s integrated mine-to-mill strategy, which is supported by its Shootaring Canyon uranium mill. This positioning makes Anfield a crucial player in the energy sector as the U.S. moves toward achieving greater energy security.
CEO Insights on Project Advancement
Corey Dias, the CEO of Anfield, expressed enthusiasm about the approval received from the Utah Department of Oil, Gas and Mining. He shared his pride in achieving this crucial milestone, stating, “Anfield’s path is now clear to advance the Velvet-Wood mine to construction and ultimately to production.” He emphasized the mine's past production credentials and minimal environmental impact, highlighting the favorable conditions for a sustainable business model.
He further noted the federal government's focus on nuclear energy, which has established a pathway for continued growth in this sector, allowing Anfield's assets to effectively contribute to the nuclear fuel cycle.
Importance of the Velvet-Wood Mine
Mining History and Current Resources
Anfield's relationship with the Velvet-Wood mine began with its acquisition from Uranium One in 2015. Historically, the mine produced approximately 400,000 tons of ore from 1979 to 1984, yielding four million pounds of U3O8 and five million pounds of V2O5.
The current mineral assessments estimate that the combined Velvet and Wood mines hold roughly 4.6 million pounds of eU3O8 with a grade of 0.29% and an additional 552,000 pounds of eU3O8 as inferred resources. This positions Anfield well within the competitive landscape of uranium mining in the United States.
Future Operations and Community Impact
As part of its ongoing strategy, Anfield has submitted a detailed Plan of Operations for the Velvet-Wood mine. This plan outlines operational actions, reclamation actions, and an estimate of reclamation costs, ensuring compliance with state and federal regulations.
The historical production of uranium and vanadium demonstrates the mine’s potential impact not only on the company but also on the local economy and the broader energy landscape.
About Anfield Energy Inc.
Anfield Energy is positioned to emerge as a significant player in the energy fuels market, focusing on sustainable growth in uranium and vanadium development. With all of its uranium assets situated in the U.S., including the strategically important Shootaring Canyon mill, Anfield is dedicated to addressing the nation’s increasing demand for nuclear fuel.
Contact Information
For more information, please reach out to:
Anfield Energy Inc.
Corey Dias, Chief Executive Officer
Corporate Communications
604-699-5762
contact@anfieldenergy.com
www.anfieldenergy.com
Frequently Asked Questions
1. What is the Velvet-Wood Project?
The Velvet-Wood Project is Anfield Energy's mining initiative aimed at entering production within the uranium and vanadium sectors.
2. What approval did Anfield receive?
Anfield received official approval for mine construction from the Utah Department of Oil, Gas and Mining.
3. How will the Velvet-Wood mine affect U.S. energy independence?
The mine is expected to contribute to U.S. energy security by increasing domestic uranium production.
4. Who is leading Anfield Energy?
Corey Dias is the CEO of Anfield Energy, overseeing the company's strategic development and project advancement.
5. How can I contact Anfield Energy?
You can contact Anfield Energy through their corporate email: contact@anfieldenergy.com or visit their website at www.anfieldenergy.com.
