Approval of Drilling Programs
Vane Minerals PLC
15 January 2008
15th January 2008
AIM: VML
VANE Minerals Plc
('VANE' or 'the Company')
Approval of further 8 drilling programs in Northern Arizona Breccia Pipe project
VANE is pleased to announce that its wholly-owned uranium subsidiary VANE
Minerals (US) LLC, has received approvals on eight 'Plans of Operations' put
forward by VANE for exploration drilling on its breccia pipe targets in northern
Arizona.
Seven approvals to drill are on projects located on U.S. Forest Service lands in
the Kaibab National Forest. According to the Forest Service, the applications
received from VANE were the first submitted in over 20 years for breccia pipe
drilling in this area. Activities in the area began to close in the mid-1980's
due to uranium market conditions. The Company is very encouraged with these
approvals and believes it has established a process whereby approvals can be
obtained for projects on Forest lands on a timely basis moving forward. The
approvals are for drilling on the Antelope Pipe and the CP3, CP4, CP6, CP8,
CP10, and CP11 pipe targets. Approval of the applications comes following
archaeological and biological surveys carried out by the Company in 2007.
The eighth approval received is on the Willaha target located on State of
Arizona school trust lands. On surface indications are that this target contains
uranium mineralization, with 5000 counts per second (cps) gamma radiation or 50
times background recorded by VANE in 2007 from a hand-held gamma-ray
scintillometer.
These projects will be added to the current drilling schedule to be drilled in
2008. The Company is presently looking to contract a second rig suitable for
breccia pipe drilling in order to accelerate the pipe exploration program.
Matthew Idiens, Director of Corporate Development commented: 'These approvals
are significant for the Company in that we are the first in 20 years to obtain
permits from the Forest service in this area. The drilling programs continue to
move ahead and following last year's successful fundraising, we believe the
Company is in a strong position to create significant value for shareholders in
2008'
Kristopher K. Hefton, Chief Operating Officer VANE Minerals (US) LLC, BSc
Geology, who meets the criteria of a qualified person under the AIM Rules -
Guidance for Mining, Oil and Gas Companies, has reviewed and approved the
technical information contained within this announcement.
Enquiries:
VANE Minerals Plc Thomas Weisel Partners Ambrian Partners Limited Parkgreen Communications
Matthew Idiens Paul Newman Richard Brown Beth Harris/Laura Llewelyn
+44 (0) 20 7667 6322 +44 (0) 20 7290 9713 +44 (0) 20 7776 6417 +44 (0) 20 7851 7480
Notes to Editors
VANE Minerals (VANE) is an AIM listed uranium mineral exploration and
development company with a strong focus on North America. The Company has a
strong portfolio of projects and was initially self-financed by production from
the Silver/ Gold Diablito Mine in Western Mexico.
VANE has built a substantial uranium portfolio in the US which, at present, is
the main driver for the Company, offering considerable upside in these strong
markets. VANE now has projects in Mexico, Paraguay and the US, incorporating
exposure to uranium, gold, silver and copper.
The Company was founded by former members of the international exploration team
of Freeport-McMoRan Copper & Gold Inc., one of the world's largest producers of
copper and gold. The team negotiated exclusive access to Freeport McMoRan global
exploration database, made up of 7,000 plus files generated over nearly 100
years of exploration
For further information, please review: www.vaneminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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