It said it was mulling the feasibility of adding a vanadium processing facility to its Shootaring Canyon uranium mill in Utah and has hired BRS Engineering to update the NI 43-101 preliminary economic assessment (PEA) for its Velvet-Wood mine to include a vanadium milling circuit.
As reported last month, the group has hired the same group to update its resource report to include a vanadium exploration target.
An excited Corey Dias, Anfield's chief executive, said in a regulatory statement:
"Importantly, the Velvet mine has historically produced 4 million pounds of uranium and 5 million pounds of vanadium.
"While uranium production remains our core pursuit -- especially in the current environment, where uranium producers Cameco and Kazatomprom have announced a combined uranium production cut of over 40 million pounds over 3 years -- we are nevertheless committed to seeing the effective development and production of vanadium resources contained and commingled in our feedstock ore.
"Importantly, a positive outcome related to this evaluation could have a positive effect on our uranium production scenario through by-product credits which will reduce our overall operating costs."
Shootaring Canyon is one of only three licensed conventional uranium mills in the US and lies around 48 miles (77km) south of Hanksville, Utah.
It is a conventional acid-leach facility that is permitted to process up to 750 tonnes of ore per day, with a capacity to process up to 1,000 tonnes per day.
Meanwhile, based on historical production, the Velvet-Wood Mine has the potential to be a significant source of vanadium.
Between 1979 and 1984, Atlas Minerals mined around 400,000 tons of ore from the Velvet Deposit at grades of 0.46% U3O8 (uranium) and 0.64% V2O5 (vanadium), recovering around 4mln pounds of U3O8 and 5 million pounds of V2O5.