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Guadalcazar & Uranium Update
Guadalcazar & Uranium Update.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n Vane Minerals PLC\n21 November 2006\n\nThe following announcement replaces RNS 4001M. The link to the Company's website\nis now live.\n\n\n\n21st November 2006\n\n\n\n VANE Minerals Plc (AIM: VML)\n\n Guadalcazar and Uranium Portfolio Update\n\n\n\n\n\nVANE Minerals Plc ('VANE' or 'the Company') today announces that the analytical\nresults for the recent seven-hole programme, GZR 06-13 to 06-19, at Guadalcazar,\nMexico, have been received and interpreted. These results reconfirm the highly\nanomalous concentrations of gold and silver throughout the hydrothermal system\nthat occupies an area 6km by 2km in the Guadalcazar Basin. Tabulation of the\nresults can be viewed on the VANE website: http://www.vaneminerals.com/?page=\nPressSingle&itemId=161\n\n\n\nThe results of recent drilling represent a measurable improvement from those\npreviously reported following the 2005 drill programme. However, further\ndrilling is required in order to define economically viable mineralisation.\n\n\n\nIt is the opinion of the VANE Board that the system constitutes an exploration\ntarget worthy of considerable additional explorative drilling. However, the\nexact genesis of the gold and silver found at the deposit remains only partially\nunderstood. In view of the commitment necessary to test thoroughly the extensive\ntarget, the VANE Board believes that this additional exploration should be\nundertaken via a joint venture with another precious metals exploration company.\nVANE is currently approaching several companies in this regard.\n\n\n\nVANE has agreed with the Guadalcazar property owner that all property payments\nwill be temporarily suspended during the time required to set in place a\nsuitable joint venture arrangement.\n\n\n\nThis strategy will ensure that VANE's resources can be focused towards funding\nthe drilling on the Company's portfolio of uranium projects in the south-western\nregion of the United States. Following the recently announced receipt of\ndrilling permits, drilling at the Miller and Red Dike breccia pipes in Arizona\nis expected to commence, weather-permitting, in early December, with a further\nprogramme to commence on the North Wash project in south-eastern Utah in mid\nDecember.\n\n\n\nVANE has deep hole drill data on the five deep holes drilled on the Miller pipe\nby Energy Fuels Nuclear Inc. in 1986, before d...