(Image via Anfield Energy Inc.)
Uranium stocks look to be going out with a bang in 2020, thanks to a recent ruling by the US Senate, whose Committee on Environment and Public Works just approved a bipartisan bill to establish a US national strategic reserve of uranium.
One Company that saw its stocks climb in early December was Uranium and vanadium development and near-term production Company
Anfield Energy Inc. (TSX-V: AEC, OTCQB: ANLDF, Forum), but not for a reason that you might think.
In early December 2020, AEC signed a definitive agreement with
Southwest Exploration Inc. to acquire a 100% interest in the Newsboy Gold Project, located in Maricopa County, Arizona. This acquisition will serve as Anfield’s first step in a revised strategy to leverage its team’s expertise and selectively seek out and acquire advanced US-based assets in commodities in addition to uranium to diversify its portfolio, while continuing to operate in attractive, low-risk US jurisdictions. Anfield’s uranium assets, especially the Charlie project in Wyoming, remain a core focus of the Company.
In
a media release outlining this acquisition for investors, Anfield Energy’s Chief Executive Officer, Corey Dias explained that the Company is executing on is strategic plan of portfolio diversification through the acquisition of the Newsboy gold project.
“Newsboy is an unheralded gem with a historical gold-silver resource, a significant amount of drill hole data and drill-ready targets that provide the potential for step-change resource expansion. Located in Arizona, it also aligns with our focus on North American-based projects in order to mitigate geopolitical risk. Finally, the creation of APM underscores our belief that further opportunities exist within this sector that will allow Anfield to leverage its team’s expertise to strengthen its asset mix in an accretive way.”
Located roughly 72 km northwest of Phoenix, Arizona, and 16 km southwest of Wickenberg in Maricopa County, the Newsboy Gold Project consists of 9 square kilometres (2,243 acres) of land which is comprised of 35 Federal Lode Claims and 4 State leases.
Westmont Mining Company conducted reconnaissance geological mapping, rock chip geochemistry and 102 holes (totaling 7,184 metres) of reverse-core drilling at Newsboy from 1987 to 1989. In 1990, Pima Mining NL drilled 12 diamond core holes (512 metres), 40 reverse core holes (2,000 metres), and completed metallurgical test work, resource and reserve estimates and mine-planning studies.
Using available data and a cutoff grade of 0.02opt Au, the North American Environmental Group (NAEG) released a report in 2009 where it estimated a total in-situ resource of 5.3Mt in the following categories:
- A Measured resource of 2.533Mt at 0.05opt Au and 0.87opt Ag for a total of 127,000oz Au and 2,196,000oz Ag
- An Indicated resource of 1.076Mt at 0.04opt Au and 0.44opt Ag for a total of 43,000oz Au and 471,000oz Ag
- An Inferred resource of 1.719Mt at 0.038opt and 0.45opt Ag for a total of 65,000oz Au and 765,000oz Ag
The NAEG report also identified areas where the resource could be expanded.
Shares rose from $0.06 to $0.09 on the news and it currently trades for $0.07 a share.
(Anfield Energy Inc. stock chart – Nov. to Dec. 2020. Click to enlarge.)
Anfield is in prime position to capitalize on this ruling from the Senate thanks to its acquisition. Should the ruling become law, it will likely pave the way for a US uranium reserve and provide a strong platform to revitalize the country’s uranium industry, with AEC among those at the forefront to capitalize on it. Traders who want to get in front of this opportunity should do their due diligence on this Company sooner than later.
For more information on this Company, visit
anfieldenergy.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.