Anfield has recently acquired the Velvet-Wood deposit from Uranium One.

Around 400,000 tons of ore was mined from the Velvet deposit between 1979 and 1984 at grades of 0.46% U3O8 and 0.64% V2O5 recovering about four million pounds of U3O8 and five million pounds of V2O5.

According to BRS’ previous feasibility study and a technical report for the deposit, the combined Velvet and Wood mines are estimated to host 4.6 million pounds of U3O8 at a grade of 0.285% U3O8 and 638,500 pounds of U3O8 at a grade of 0.173% U3O8.

BRS will now expand on the previous resource estimate, and is expected to update the historical estimate for the Velvet and Wood deposits to a current mineral resource.

Anfield Resources CEO Corey Dias said: "By engaging BRS to perform a resource evaluation at the most advanced mineral property in the acquisition, we are moving forward with an entity that not only possesses significant expertise in the Uranium exploration and development industry, but one that also has an intimate working knowledge of the geology and mineral deposits at the property itself.

"We expect that the Velvet-Wood deposit will be an important source of feed for the Shootaring Canyon Uranium Mill once the mill is restarted, pending regulatory approval."