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Last checked at 
7 Sep 2009 07:00
ļ»æ
7thĀ SeptemberĀ 2009
VANE Minerals Plc (AIM:VML)
('VANE' or the 'Company')
High Grade Uranium Intercepts, Wate Pipe, Arizona
Highlights:
Hole WT-29A completed to 1595 feetĀ intersectingĀ two high-grade intervals
42.0 ft of 0.58% eU3O8Ā
26.5 ft of 1.50% eU3O8Ā
Re-entry of Hole WT-25 underway
VANEĀ Minerals PlcĀ is pleased to announce results from the continued evaluation of historicĀ drillingĀ on the Wate breccia pipe located in northernĀ Arizona. The projectĀ is within the VANE-Uranium One Exploration U.S.A. Inc. joint ventureĀ in which the Company's wholly-owned subsidiary, VANE Minerals (US) LLC, holds a 50% interest.
Ā
As part of the programme to produce anĀ NI43-101 resource report on the WATE pipe, operations commenced in mid-AugustĀ to verify mineralized zones indicated by the historical data in VANE's possession.Ā The report will be compiled by SRK consultingĀ and is expected to be completed by year end.
Hole WT-29 was re-entered but the old hole could not be followed past 960 feet where a new hole, WT-29A was started and completed to the depth of 1,595 feet.Ā OperationsĀ have now commenced at WT-25 and will continueĀ with the re-entry ofĀ additional holes and the drilling of new holes, if required.Ā
Two (2)Ā high-gradeĀ intervals wereĀ identifiedĀ whenĀ WT-29AĀ was logged by independent geophysical logging contractors.Ā TheĀ resultsĀ tabled belowĀ verify the mineralized zones indicated in theĀ historicalĀ data held by VANE:
|
INTERVAL (ft) |
THICKNESS (ft) |
GRADE eU3O8 |
CONTRACTOR |
|
Upper Zone |
|||
|
1318.5-1361.0 |
42.5Ā |
0.55%Ā |
GLS |
|
1321.0-1363.0 |
42.0Ā |
0.58%Ā |
CGC |
|
Lower Zone |
|||
|
1498.5-1526.0 |
27.5Ā |
1.36% |
GLS |
|
1496.0-1522.5 |
26.5Ā |
1.50%Ā |
CGC |
GLS = Geophysical Logging Services
CGC = Century Geophysical Corporation
Additional results will beĀ reported on as they become available. Previous significantĀ drillĀ interceptsĀ at the Wate projectĀ were reported by the Company in the 2 February 2009 Press Release.
-----------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------
Steve Van Nort, VANEās CEO commented: āThese new results continue to elevate the importance of the Wate project.Ā The combined intervals, giving a total of some 69 feet of high-grade mineralization with a weighted average of 0.90% eU3O8, continue to verify the presence of a significant high-grade uranium resource. We look forward toĀ furtherĀ results as the project advancesā.Ā
For furtherĀ information, please contact:
|
VANE Minerals Plc |
+44 (0) 20 7667 6322 |
|
Matthew Idiens |
|
|
Arbuthnot Securities |
+44 (0) 20 7012 2000 |
|
John Prior |
|
|
Threadneedle Communications |
+44 (0)Ā 20 7653 9850 |
|
Laurence Read/Ā Beth Harris |
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