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Maiden Resource Statement at
Maiden Resource Statement at.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n RNS Number : 8071H Vane Minerals PLC 01 March 2010 \n \n\n1st March-2010\nVANE Minerals plc (AIM:VML)\n(\"VANE\" or the \"Company\")\nAnnouncement of maiden NI 43-101 resource statement at Wate Uranium Breccia Pipe, Arizona\nHighlights:\nThe SRK resource estimation completed to update the VANE breccia pipe project NI 43-101 report dated October 2007, concluded the following on the Wate breccia pipe, Arizona:\n· Inferred resource of 695,000 pounds of eU3O8 contained in 43,000 tons with an average grade of 0.80% eU3O8 at a cutoff grade of 0.20% eU3O8 \n· The weighted average grade from VANE's six drill holes used in constructing the model is 0.87% eU3O8 using a cutoff grade of 0.20% eU3O8\nVANE Minerals today announces that SRK Consulting (U.S.) Inc. (\"SRK\"), as part of the work to update VANE's NI 43-101 technical report on its Northern Arizona Uranium Breccia Pipe Exploration Project, has completed the resource estimation for the Wate breccia pipe in Arizona. The project is within the VANE-Uranium One Exploration U.S.A. Inc. joint venture (JV) in which the Company's wholly-owned subsidiary, VANE Minerals (US) LLC, holds a 50% interest.\n \nSRK determined an inferred resource of 695,000 pounds of eU3O8 contained in 43,000 tons with an average grade of 0.80% eU3O8 at a cutoff grade of 0.20% eU3O8 from the model for that portion of the mineralized pipe where drilling data are available, which represents roughly 60% of the original Rocky Mountain Energy (\"RME\") model. \n \nThe resource model was developed from data from six drill holes logged by VANE and from limited data from six historic holes completed by the previous lessee, RME. The resource is contained in 4 zones of mineralization delineated in the portion of the pipe from 1200 feet in vertical depth to 1520 feet in depth, largely within and along the margins of a breccia pipe that has a diameter which varies from 110 ft to 160 ft. Some sub-horizontal character is present in at least one high-grade zone (160 ft across the pipe by ~40 ft vertical thickness).\nThe interpretation and outlining of mineralization was conducted in cross-section, using Leapfrog software, by incorporating geological, structural and assay information to form 3-D wireframe shapes of mineralized domains. Interpolation of grade ...