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
----------------------------------------------------------------
Size Grade Contained Nickel
----------------------------------------------------
Cutoff grade Dry Metric Tonnes Pounds
(% Ni) (millions) (% Ni) ( 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
----------------------------------------------------------------
Size Grade Contained Nickel
----------------------------------------------------
Cutoff grade Dry Metric Tonnes Pounds
(% Ni) (millions) (% Ni) (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
----------------------------------------------------------------
Size Grade Contained Nickel
----------------------------------------------------
Cutoff grade Dry Metric Tonnes Pounds
(% Ni) (millions) (% Ni) (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
----------------------------------------------------------------
Size Grade Contained Nickel
----------------------------------------------------
Cutoff grade Dry Metric Tonnes Pounds
(% Ni) (millions) (% Ni) (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:
---------------------------------------------------------------------------
Size Grade Contained Nickel
---------------------------------------------
Deposit Dry Metric Tonnes Pounds
(1% Ni cutoff grade) (millions) (% Ni) (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:
---------------------------------------------------------------------------
Size Grade Contained Nickel
---------------------------------------------
Dry Metric Tonnes Pounds
(1% Ni cutoff grade) (millions) (% Ni) (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 Compania 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.
Contacts: Anfield Nickel Corp. David Strang 604 646-1899 604
687-7041 (FAX)
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