VANCOUVER, June 9, 2011 -
Anfield Nickel Corp. (TSX VENTURE: ANF) ("Anfield" or the "Company") is pleased to announce that it has received an updated, independent, National Instrument 43-101 compliant ("NI 43-101") mineral resource estimate of its 100% owned Mayaniquel nickel project in northeastern Guatemala. The updated mineral resource estimate has significantly increased the size of the known mineral resources over the previous mineral resource estimate released by Anfield in September 2010. At a 1% nickel cut-off grade, total contained nickel in the Indicated resource category has increased by 105%, while total contained nickel in the Inferred resource category decreased marginally by 5%.
At a 1% nickel cut-off grade, the updated NI 43-101 mineral resource estimate at Mayaniquel is:
- 26.5 million tonnes averaging 1.51% nickel, containing 885.5 million pounds of nickel in the Transition and Saprolite Indicated resource category. Previous estimate comprised 12.1 million tonnes averaging 1.57% nickel.
- 45.7 million tonnes averaging 1.40% nickel, containing 1,413.3 million pounds of nickel in the Transition and Saprolite Inferred resource category. Previous estimate comprised 49.6 million tonnes averaging 1.37% nickel.
- 12.9 million tonnes averaging 1.17% nickel, containing 331.4 million pounds of nickel in the Limonite Indicated resource category. Previous estimate comprised 7 million tonnes averaging 1.14% nickel.
- 12.2 million tonnes averaging 1.15% nickel, containing 308.9 million pounds of nickel in the Limonite Inferred resource category. Previous estimate comprised 13.1 million tonnes averaging 1.11% nickel.
The total mineral resource estimate includes 22% nickel limonite mineralization as metallurgical test work completed to date shows that up to 30% of the ferronickel plant's feed material can comprise limonite mineralization (See the Company's news release dated September 8, 2010).
The updated NI 43-101 mineral resource estimate at different nickel cutoff grades is shown in the tables below (the base case cut-off grade of 1% nickel is highlighted):
Transition and Saprolite Indicated Resources
Cutoff grade
(% Ni) Size Grade Contained Nickel
Dry Metric Tonnes (millions) (% Ni) Pounds
(millions)
0.8 31.6 1.42 985.7
1.0 26.5 1.51 885.5
1.2 20.3 1.64 735.4
1.4 14.4 1.79 568.4
Transition and Saprolite Inferred Resources
Cutoff grade
(% Ni) Size Grade Contained Nickel
Dry Metric Tonnes
(millions) (% Ni) Pounds
(millions)
0.8 62.5 1.27 1,745.2
1.0 45.7 1.40 1,413.3
1.2 30.1 1.54 1,022.9
1.4 18.4 1.70 690.3
Limonite Indicated Resources
Cutoff grade
(% Ni) Size Grade Contained Nickel
Dry Metric Tonnes
(millions) (% Ni) Pounds
(millions)
0.8 19.2 1.08 458.2
1.0 12.9 1.17 331.4
1.2 4.3 1.33 125.4
1.4 0.9 1.52 30.9
Limonite Inferred Resources
Cutoff grade
(% Ni) Size Grade Contained Nickel
Dry Metric Tonnes
(millions) (% Ni) Pounds
(millions)
0.8 21.6 1.04 496.1
1.0 12.2 1.15 308.9
1.2 3.4 1.30 98.1
1.4 0.5 1.47 16.6
The mineral resource estimates contained in this news release do not have demonstrated economic viability.
The updated mineral resource estimate includes mineral resources from two deposits, Poza Azul and Chulac-Seococ, that are located on an exploration license that expired in November, 2010. The Company has filed a new license application encompassing these deposits with the Guatemalan government and is awaiting its approval. The mineral resource estimate at a 1% nickel cut-off grade for each of the Poza Azul and Chulac-Seococ deposits is shown below:
Deposit
(1% Ni cutoff grade) Size Grade Contained Nickel
Dry Metric Tonnes
(millions) (% Ni) Pounds
(millions)
Poza Azul
Transition & Saprolite
Inferred 3.1 1.44 97.5
Limonite
Inferred 0.9 1.06 2.1
Chulac-Seococ
Transition & Saprolite
Inferred 3.0 1.34 87.4
Limonite
Inferred 1.2 1.14 29.5
Anfield is currently completing a NI 43-101 compliant preliminary economic assessment ("PEA") on the Mayaniquel project that is scheduled to be completed in early July 2011. The PEA will be based upon the mining and processing of nickel laterite material from only the Sechol and Tres Juanes deposits. The mineral resource estimate at a 1% nickel cut-off grade from Sechol and Tres Juanes to be used in the PEA are shown below:
(1% Ni cutoff grade) Size Grade Contained Nickel
Dry Metric Tonnes
(millions) (% Ni) Pounds
(millions)
Transition & Saprolite
Indicated 17.2 1.62 612.0
Inferred 23.3 1.44 741.1
Limonite
Indicated 7.5 1.20 199.2
Inferred 7.0 1.17 179.7
The updated mineral resource estimate was based on a total of 77,254 meters of drilling in 3,466 holes, including previous drilling completed by BHP Billiton (857 holes), Jaguar Nickel Inc. (856 holes) and 1,753 holes drilled by Anfield up until April 12, 2011, the effective date for this estimate. The mineral resource estimate was calculated using ordinary kriging with nominal block sizes measuring 25 meters long, 25 meters wide and 2 meters in height.
An updated NI 43-101 technical report detailing the mineral resource estimates and the results of the PEA will be completed and filed on SEDAR (www.sedar.com) and Anfield's website (www.anfieldnickel.com) within 45 days.
The Mayaniquel project comprises mineral exploration licenses totaling approximately 54,000 hectares in the nickel laterite belt surrounding Lake Izabal, 120 kilometers northeast of Guatemala City. Anfield's mineral exploration licenses lie adjacent to the "Fenix Project" owned by Compańia Guatemalteca de Niquel S.A., a subsidiary of HudBay Minerals, Inc. Anfield's drill program at Mayaniquel comprising 5 drill rigs, is currently focused on continuing to upgrade Inferred resources at Sechol and Tres Juanes to the Indicated category.
Robert Sim, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the mineral resource estimate included in this news release and has reviewed and approved the contents of this news release as they relate to the mineral resource estimate. Mr. Sim, during his property visits, made comparisons, in randomly selected intervals from several drill holes, between the assay results and visual observations of the content of nickel mineralogy. The quantity and type of minerals observed support the assay results in all cases. All deposit areas and storage facilities containing drill core were observed by Mr. Sim and, where possible, active drilling activities were observed.
Since Anfield began drilling on the Mayaniquel project in 2010, the sample assay results have been independently monitored through a quality control / quality assurance (QAQC) program including the insertion of blind standards, blanks and the reanalysis of duplicate samples at a second umpire laboratory. The results of the QAQC program indicate that the sample database is of sufficient accuracy and precision to be used for the generation of mineral resource estimates.
Andrew Carstensen, CPG, Vice President, Exploration and the Qualified Person as defined by NI 43-101 for the Mayaniquel project has reviewed and approved the contents of this news release as they relate to the ongoing exploration and development program at the Mayaniquel project.
ANFIELD NICKEL CORP.
David Strang
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
This news release may contain "forward-looking statements" within the meaning of the applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "is awaiting" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anfield Nickel Corp. to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Company's projects, risks relating to whether the Guatemalan government will deny extensions and (or) reapplications of exploration licenses and (or) an application for an exploitation license, risks related to the loss of licenses, mineral resources and (or) exploration licenses with resource targets on them, risks related to governmental expropriation, royalty or taxes, risks related to the uncertainty of timing of events including the timing scheduled for results of the PEA, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of commodities, as well as those factors discussed in the sections relating to risk factors of our business filed in Anfield Nickel Corp.'s required securities filings on SEDAR. Although Anfield Nickel Corp. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Anfield Nickel Corp. does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Neither the 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 news release.
Contact Information
Anfield Nickel Corp.
David Strang
+604 646-1899
604 687-7041 (FAX)
www.anfieldnickel.com
