Anfield Energy Inc (CVE:AEC, OTCQB:ANLDF) has found potential vanadium targets after it recently bought an exploration database of mining projects in the Western United States.
The targets in both Colorado and Utah complement Anfield’s Utah-based Shootaring Canyon mill as Anfield could include a vanadium processing circuit here.
They could also serve as a potential extended vanadium project pipeline beyond the Velvet-Wood uranium/vanadium project.
Anfield revealed that its prospective energy partners have shown an increasing interest in its vanadium assets due to the recent upturn in the vanadium price – from between US$4.00 and US$15.00 per pound.
“The identification of potential vanadium targets in in our recently-acquired database offers a distinct advantage to the company, said Corey Dias, Anfield's chief executive.
"Anfield has already identified a vanadium exploration target of between 6.3 million pounds and 9.7 million pounds at its past-producing Velvet-Wood uranium mine – at which vanadium was previously produced as a byproduct – and the potential to create a significant pipeline of vanadium projects is compelling," said Dias.
"This is even more attractive to Anfield as it holds one of only three licensed, permitted and constructed uranium mills in the U. S., and the ability to add a vanadium processing circuit to the Shootaring Canyon mill provides a strategic advantage to the company in relation to its peers as Anfield could accelerate the vanadium production process."
Dias highlighted that vanadium was increasingly being embraced by battery manufacturers as a core material in the production of batteries to be used in both small-scale and large-scale applications; in fact, vanadium redox-flow batteries (VFBs) have started to grow in influence as energy companies look to improve energy storage.
"This ranges from grid-scale uses, such as Prudent Technology’s use of a VFB for its solar installation in Italy, to smaller-scale uses such as Warren Buffett’s BYD company using vanadium batteries for its electric vehicles and Subaru using a VFB to power its Subaru G4e vehicle," he said.