Rosebank Regulatory News (ROSE)

10 Nov 2005 07:01

Vane Minerals PLC10 November 2005 VANE Minerals Plc (AIM: VML) Sampling Confirms High Grade Copper Mineralisation at Choix Prospect VANE Minerals Plc ("VANE" or "the Company") today announces the confirmation ofexposed copper mineralisation at its Choix Prospect, Sinaloa, Mexico. Thismineralisation was found in rock chip samples which were taken in September2005. A total of 34 samples were collected at surface from three near-parallel, NE-SWtrending zones. 22 of those samples were collected from the "South Zone", acluster of outcrops about 250 metres long and varying from 50 to 80 metres inwidth. Seven samples were collected from the "Middle Zone" which is locatedabout 200 metres north of the South Zone and which outcrops over an area of 150by 30 metres. Only three samples were taken from the poorly-exposed "NorthZone" which is located about 280 metres further north of the Middle Zone. From the samples collected by VANE, total copper values from 32 of the 34samples range from 0.56% to 3.23% Cu at an average grade of 1.85%. Values ofacid-soluble copper in those 32 samples average 1.67%, indicating that 90% ofthe copper should be recoverable by leaching. Initial indications are that theproject offers great potential for an open pit leachable high grade copperproject. Original data on the property, taken by Cambior Exploration SA de CV in July1996, showed that 80 surface samples had been collected over an area measuring600 metres by 500 metres. These were assayed for copper, gold, silver, lead andzinc. Copper values over 1.0% were obtained in 25 samples, while values between0.5% and 1.0% copper were found in an additional 17 samples. With the sampling now complete, VANE expects its first round of drilling at theproject to commence in December or as soon as the equipment can be mobilised. Michael Spriggs, Chairman of VANE, commented: "We are very encouraged by theinitial samples taken from the Choix property and look forward to drilling theproperty in order to ascertain the vertical extent of copper mineralisation. Weare confident that this project will add further significant value to VANE'sportfolio." VANE's ex Freeport McMoran exploration team have a significant history ofidentifying extensive copper prospects. Steven Van Nort has 19 years' experienceworking at Hanna Mining in world-wide nickel laterite and porphyry copperexploration. L. Clark Arnold worked for 17 years with Lowell MineralExploration, and was jointly responsible for the development and implementationof a statistically based method of porphyry copper prospecting which eventuallyled to two major discoveries: the Santa Cruz deposit in Arizona and theEscondida mine in Chile. Frank Nelson worked for 23 years as an explorationgeologist for Freeport. During that time he was often involved with porphyrycopper projects and was involved in the discovery of the Ertsberg East orebodyin Papua, Indonesia. Enquiries: VANE Minerals plc Seymour Pierce Limited Parkgreen CommunicationsMatthew Idiens Jeremy Porter Justine Howarth / Cathy Malins020 7667 6322 020 7107 8000 020 7493 3713About VANE Minerals VANE Minerals was founded by the former international exploration team ofFreeport McMoRan Copper & Gold Inc., one of the world's largest producers ofcopper and gold. The team negotiated exclusive access to Freeport McMoRan'sglobal exploration database, made up of 7,000 plus files generated over nearly100 years of exploration and, following the review of these files, VANE isideally placed to capitalise on project acquisition opportunities. The Companyhas assembled a highly qualified and experienced management team with a proventrack record in exploration and development, who have spent their entire careerssearching for and defining large scale mineral deposits. The Company's principal objective, as set out at the time of its listing in June2004, is to be a self-funding exploration company. As such, the initial focushas been to identify high grade gold-silver projects which can be brought intoproduction as quickly as possible in order to provide revenue towards fundingthe development of potentially much larger projects. VANE is well on its way toachieving this objective as commercial production began at the Diablito mine inMexico in November 2005. The Company will use the revenue generated by thisfirst producing mine to help fund development work across its attractiveportfolio of gold, silver, copper and uranium assets in Mexico, Paraguay and theUS. For further information, please review: www.vaneminerals.com This information is provided by RNS The company news service from the London Stock Exchange