Vancouver-based Anfield Resources (TSX:V.ARY
, Stock Forum
) stock has jumped 40% after it announced late Wednesday that it has launched into the uranium game, acquiring 26 mining claim groups containing 133 unpatented mining claims in Utah and Arizona, to go along with its existing copper production.
The acquisition, purchased from MAG Exploration Services, came in return for an issuance of 1.5 million common shares of Anfield, with $600,000 in cash to be paid to MAG over three years.
Investors loved the news Thursday, sending the share price of Anfield soaring 40% to $0.35 per share, a rise of $0.10.
From a company news release
, the details of the acquisition are as follows:
White Canyon Uranium District
The acquisition includes seven claim groups and 22 individual claims situated in the White Canyon Uranium District in western San Juan County, Utah. The White Canyon Uranium District is estimated to have produced more than 11,000,000 lbs U3O8, with an average grade of 0.24% U3O8. The District is also home to Energy Fuels Inc.’s Daneros Project, a current/recent Uranium producer, as well as the historically-producing Happy Jack mine.
Moab Uranium District
The acquisition includes five claim groups and 37 individual claims situated in the Moab Uranium District in northern San Juan County, Utah. The Moab Uranium District is located in the heart of the Paradox Basin, and produced an estimated 3,276,000 lbs U3O8 with an average U3O8 grade of 0.29% and 1.15% V2O5 One of the properties in the acquisition, the Yellow Circle, has been estimated to have had approximately 1,000,000 lbs U3O8 in historic production.
Dry Valley Area
The acquisition includes five claim groups and 23 individual claims situated in the Dry Valley Area of theMonticello Uranium District in eastern San Juan County, Utah. Significant amounts of Uranium and Vanadium have been produced from the area. Total past production in this area is estimated at 1,525,000 lbs U3O8 and 12,662,000 V2O5, with an average U3O8 grade of 0.18% U3O8 and 1.35% V2O5 Significant past producers in the Dry Valley Area include the Frisco Twin Mine and the Geneva Mine.
The acquisition includes 8 claim groups consisting of 29 individual claims situated in the Montezuma Canyon Area of the Monticello Uranium District in eastern San Juan County, Utah. Total past production in this area is estimated at 88,000 lbs U3O8 and 775,000 lbs V2O5, with an average U3O8 grade of 0.24% and 0.31% V2O5.
Date Creek Basin
The Date Creek Basin (DCB) project consists of 24 unpatented mining claims situated in Mohave County,Arizona, about 110 miles southeast of Kingman, Arizona in the Date Creek Basin, which is a historic Uranium producing region. A number of companies explored the Date Creek Basin property and the immediate vicinity in the 1960s-1970s, including Hecla Mining, Getty Oil, Homestake Mining, and Public Service Company of Oklahoma, with a combined total of 443 exploration drill holes. The most recent exploration was conducted in 2007, resulting in 35 exploration drill holes. Production from the DCB was reported between 1955 and 1959 at 33,593 lbs U3O8 with an average grade of 0.16%.
The past-producing Anderson Mine, currently owned by Uranium Energy Corporation (UEC), is located in DCB.
FULL DISCLOSURE: Anfield Resources is a Stockhouse Publishing client, but has not paid for this content.