ROSE.L Regulatory News (ROSE)

18 Jul 2005 09:54

Vane Minerals PLC18 July 2005 VANE Minerals Plc (VML.L) Mina Charay Drilling Update VANE Minerals Plc is pleased to announce the completion of nine holes in a thirdround of diamond drilling at their Mina Charay Project located near Los Mochisin the state of Sinaloa, Mexico. A total of 27 holes varying in depth from 24 to 103 metres and averaging 58metres have now been completed at Mina Charay. Inclined holes intersected thenearly vertical vein system in 19 of the 27 holes completed to provide 32mineralized intercepts. Drilling has now tested the system over a strike lengthof some 240 metres. The mineralized intercepts averaged 1.7 metres in length andcontained an average of 13 g/t gold and 93 g/t silver. The veins are believed tohave an average true width of 1.2 metres. The deepest intercepts of the veinsystem are approximately 50 metres below surface; the system remains open atdepth. The initial assay results are tabulated below, routine check assaying is now inprogress. After confirmation of analytical results, the data will be provided toIndependent Mining Consultants (IMC) of Tucson to develop a resource estimateand preliminary mine plan. Gold SilverDDH No. From To Interval g/t g/t m 16 46.2 47.0 0.8 2.91 192.0 16 47.0 48.0 1.0 23.28 157.7 16 48.0 48.9 0.9 5.55 360.0 17 54.7 55.5 0.8 20.770 219.4 17 55.5 56.3 0.8 9.560 467.9 18 58.5 59.5 1.0 11.42 42.9 18 59.5 61.0 1.5 62.87 37.7 18 69.7 70.8 1.1 19.5 109.7 18 70.8 71.5 0.8 11.14 30.9 20 42.0 43.0 1.0 3.36 168.0 20 67.4 68.3 0.8 1.95 42.9 20 68.3 69.1 0.8 0.55 133.7 20 71.3 72.5 1.2 78.71 524.5 21 22.3 23.0 0.7 11.79 238.2 21 26.6 27.9 1.3 6.72 114.8 21 50.1 50.5 0.4 109.04 216 21 50.9 51.6 0.7 0.21 22.3 22 33.3 34.7 1.4 45.32 54.8 22 36.1 38.0 1.9 2.26 32.6 22 45.0 45.7 0.7 0.79 22.3 23 12.7 13.7 1.0 17.40 41.1 23 13.7 14.7 1.0 15.91 104.5 24 24.8 25.9 1.1 5.140 51.4 25 59.5 60.2 0.7 7.37 44.6 25 60.2 61.0 0.8 74.25 106.3 Chairman Michael Spriggs commented "These results are very encouraging and weare pleased with the whole project so far. As you can see from the gradesachieved, Mina Charay offers good potential to develop a profitable mine, whichshould strengthen VANE's cash flow position and enable the company to expandrapidly." Enquiries: VANE Minerals plc Seymour Pierce Limited Parkgreen CommunicationsMatthew Idiens Sarah Wharry Justine Howarth / Cathy Malins020 7667 6322 020 7107 8000 020 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange