VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / June 2, 2014 / Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF) ("Anfield" or "the Company") is pleased to report on the findings from the recently completed geophysical survey conducted on portions of the Binghampton /Copper Queen (BCQ) copper project. The purpose of the Controlled Source Audio Magnetotellurics/Magnetotellurics (CSAMT/MT) survey is to map structure and possible mineral occurrences on portions of the BCQ project to further aid the Company in locating the next drill locations for the upcoming drill campaign.
The overall quality of the CSAMT/MT data is considered good to very good. Both the 2013 and 2014 surveys have proven valuable, but due to the vastness of the BCQ project it is not possible to correlate the results. An additional geophysical survey is required and is currently being planned. Correlating the data is a top priority; therefore, the survey is scheduled to begin next week. The survey was focused on the Binghampton and Half Moon mines, where past production has occurred.
Corey Dias, Anfield's CEO, stated, "The results of the survey are very encouraging, and we are looking forward to getting back to drilling at BCQ. Through both the acquisition of historical data and the recent completion of geophysical surveys, we have begun to identify several drill targets for the upcoming drill campaign. Furthermore, with the additionally-planned survey we will be able to better correlate the 2013 and 2014 results and create an even more comprehensive drilling program."
Binghampton Survey
The Binghampton survey, consisting of one line of approximately 1000 feet (305 metres) with a 100 foot (30 metre) station spacing, identified 3 areas of interest:
-
1)the first area, a zone of lower resistivities, is apparent across the entire line from surface to depths around 100 feet (30 metres). This area is indicative of a weathered zone with increased clay content or oxide mineralization;
-
2)the second area, positioned beneath the near-surface low resistivities, is a somewhat continuous zone of higher resistivities from depths of about 400 to 700 feet (122 to 213 metres); and
-
3)the third area, positioned beneath the higher resistivities, is a zone of much lower resistivities that extend from depths of about 900 to 1300 feet (274 to 396 metres) and extend deeper from 1,250 to 1,650 feet (381 to 503 metres) towards the end of the line.
In August of 2013, two lines were surveyed on ridges associated with previous mining of the Binghampton but these surveys occurred 2,500 feet (762 metres) and 1,950 feet (594 metres) from the current survey. Because of the relatively large distance between the lines surveyed, it is not possible to correlate the results from the two separate surveys.
Half Moon Survey
The Half Moon survey consisted of one line of approximately 1000 feet (305 metres) with a 100 foot (30 metre) station spacing. Lower resistivities (i.e., more conductive areas) are present from the surface to depths approaching about 600 feet (183 m) through all but the middle 150 feet (50 metres) of the line. Proximate to the middle of the line there is a zone of higher resistivity material that extends to a depth of between 600 and 1,100 feet (183 and 335 metres). One possible explanation for the higher resistivities near the middle of the line is the historic observation that the Half Moon mineralization is discontinuous. Additional lines of CSAMT/MT data will be required to determine the continuity of anomalous areas with both lower and higher resistivities, which may be indicative of mineralization and/or the structures influencing mineralization.
About Anfield Resources Inc.
Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (ARY-V) and is engaged in mineral exploration, development and production in the United States and Chile. Its focus is on acquiring and developing an array of strategic mineral projects, which are summarized below:
-
- Anfield's uranium assets include mining claims and state leases in southeastern Utah, Colorado and Arizona totaling over 17,500 acres (7,082 hectares), targeting areas where past uranium mining or prospecting occurred within a potential shipping radius to the White Mesa Mill, the only operating conventional uranium mill in the US.
- The Binghampton Copper Queen (BCQ) project, located 17 miles (27 km) southeast of Prescott, Arizona, and within the Arizona VMS Belt, consists of 5,021 acres (2,032 hectares) of both patented and State land, with two past-producing mines on the property.
-
- The North Star Copper Project, located less than 50 miles (80 km) northwest of Tucson, consisting of 200 mining claims covering approximately 4,000 acres (1,619 hectares), targets relatively shallow oxide copper at the historic North Star site in the heart of copper country in southern Arizona.
The Aura Project, a nascent copper production operation in Atacama, Chile, is located 20 miles (32 km) east of Copiapo and consists of eight mining concessions totaling over 2,800 acres (1,133 hectares) in one of the foremost copper producing regions in the world.
R. Tim Henneberry, P.Geo., Advisor to Anfield is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Anfield Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
[email protected]
Further information about the Company is available on the Company's website, www.anfieldresources.com, or our social media sites listed below:
Facebook: https://www.facebook.com/anfieldresources
Twitter: https://twitter.com/AnfieldResource
YouTube: https://www.youtube.com/anfieldresources
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE: Anfield Resources Inc.