Trading on the OTC Bulletin Board, American Energy Fields is a resource company. They focus 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 their headquarters in Apache Junction, Arizona. They primarily engage in the acquisition and exploration of properties that may contain uranium mineralization in the United States.
The Company has one of the most prolific mining databases for energy related projects within the U.S. Using this database, they will target and acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
American Energy Fields, Inc. reported in May that they submitted an offer to Concentric Energy to purchase the Anderson Mine in Yavapai County, Arizona. On April 27, 2010, the Company announced that they acquired the Artillery Peak uranium project. The Company’s historic records indicate 1.7 million pounds of uranium was previously identified through exploration. The property consists of 1,777 acres of Federal land and is 112 miles Northeast of Phoenix, Arizona.
Earlier in April, they announced that they acquired the 4,180-acre Coso uranium project and the 1,320-acre Blythe uranium project in the mining districts of Inyo and Riverside Counties, California, respectively. The Coso uranium anomalies targeted by previous exploration will undergo relocation and re-identification by the Company for further evaluation. If feasible, old drill holes in prospective areas will be re-entered and logged by down-hole radiometric probes. This is to identify zones and grades or subsurface uranium mineralization. At the Blythe uranium property, they propose to locate and re-enter as many old drill holes as possible.
On June 3, 2010, American Energy Fields, Inc. announced that the California State Land Department issued an exploration permit covering 800-leased acres for the Company’s Coso uranium project. The Company will begin a preliminary exploration program. This is to further the uranium trend identified through the work completed by Western Nuclear, Pioneer Resources, Federal Resources, and Union Pacific Mining/ Rocky Mountain Energy.
American Energy Fields, Inc. President and CEO, Joshua Bleak, stated, “Receiving this exploration permit is a major milestone for AEFI and our development plans for the Coso project. It is a tremendous endorsement of the quality of our exploration team and the work they are capable of doing. With the bulk of Coso’s historic exploration performed on Federal land, we look to expand the resource potential by now beginning a work program on the 800 acres of State leased land. This is another step in the direction of finding, acquiring, and developing natural energy resources in the United States.”