American Energy Fields, Inc. announced yesterday that they have located 35 lode mining claims in the Aquarius Mountains Mining District in Mohave County, Arizona. This is a region noted for uranium and rare earth metals.
The property also lies within the Date Creek Basin. This region reportedly contains an estimated 1.2 billion tons of U3O8, and is home to American Energy Fields, Inc.’s Artillery Peak project. The region, including and surrounding the Waldren Mine was targeted by the USGS NURE program as being an area of uranium and thorium mineral occurrence.
The claims include the site of the past-producing Catherine and Michael claims, from which uranium underwent shipping. The claims also include the past-producing Waldren Mining Co. Rare Earth Metals Mine. Mineralization at the Waldren Mine occurs in pegmatite dikes yielding uranium, beryllium, rare earth metals, bismuth, niobium, tantalum, garnet, feldspar, and mica. The USGS reports that 7-8 tons of yttrotantallite ore were produced from the mine, in addition to small amounts of monazite and gadolinite.
American Energy Fields, Inc. plans to conduct an initial phase of exploration within the next thirty days. This will include geologic mapping, a grid radon survey, and surface sampling.
American Energy Fields, Inc. President and Chief Executive Officer, Joshua Bleak, stated, “This uranium and rare earth deposit is a significant acquisition in building a significant uranium property portfolio, especially considering its proximity to our Artillery Peak project. Additionally, the rare earth metals in the deposit have the potential to add significant value to this property. We look forward to implement our exploration program to identify and define a uranium and rare earth resource on this property.”
Headquartered in Apache Junction, Arizona, American Energy Fields, Inc. is a resource company focused on exploring and developing the natural energy resources of the United States. The Company’s corporate strength lies in their management’s experience in the finance and natural resource sectors. American Energy Fields, Inc. has one of the most prolific mining databases for energy related projects within the U.S. Using this database, the Company will target and acquire projects with previous production and/or exploration. They will then work towards fully developing those projects to grow revenues and build core reserves.
For more information visit: www.americanenergyfields.com