Approval of further 8 drilling programs in Northern Arizona Breccia Pipe project
VANE Minerals Plc (AIM: VML)
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
+44 (0) 20 7667 6322
Ambrian Partners Limited
+44 (0) 20 7776 6417
Laura Llewelyn / Beth Harris
+44 (0) 20 7851 7480
Thomas Weisel Partners
+44 (0) 20 7290 9713
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.