Business
New Exploration Permits secured
New Exploration Permits secured.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \nRNS Number : 4952F Vane Minerals PLC 27 April 2011 \n \n\n27 April 2011\nVANE Minerals plc (AIM:VML)\n(\"VANE\" or the \"Company\")\nNew Exploration Permits secured and Drilling Underway at Porphyry Copper Targets, USA\n \nVANE is pleased to announce that it has been granted new permits for exploration drilling at its Granite Gap porphyry copper target located in southwestern New Mexico. VANE currently has two copper targets fully permitted for exploration drilling and the target portfolio currently includes 23 targets in various stages of evaluation and acquisition. \n \nHighlights\n \n· Granite Gap drilling permit approval\no Porphyry copper target located on major US copper mineral belt\no Drill site construction underway with drilling scheduled to commence in the next few weeks\n· Copper portfolio\no Yuma King drilling commenced in March - presently at 1,587 feet\no 2 targets fully drill permitted\no 2 targets presently in advanced stage of the permitting process \n \n \nRoad access and drill sites are under construction with the drilling contractor anticipated to commence drilling in the next few weeks. The Granite Gap target is held though VANE's 100% wholly owned subsidiary, AVEN Associates LLC.\n \nThe Granite Gap target is situated along the productive NE-SW mineral trend that extends from Hillsboro to Bisbee and includes major mines at Chino, Continental, Tyrone and Banner, combined representing more than 22.5 billion lbs of copper. The target is located beneath alluvial cover adjacent to outcrops that exhibit alteration and mineralization typically associated with the margins of porphyry copper systems. Field work commissioned by VANE, in combination with file review and literature search, has identified water wells located several miles down slope from the outcropping lead-zinc mineralization that carry anomalous values of copper and molybdenum. Water in the wells is believed by the Directors to have migrated from the target area. The drilling depth is anticipated by the Directors to be in the region of 300-500 feet.\n \nDrilling commenced on March 25 on the first of two holes planned at the Yuma King copper project. Hole AV-1-11 intersected disseminated copper mineralization - assay results are currently pending. Site preparation, ahea...