Business
Uranium Exploration Update
Uranium Exploration Update.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n Vane Minerals PLC\n19 September 2007\n\nSeptember 19, 2007\n\n\n\n VANE Minerals Plc (AIM: VML)\n Uranium Exploration Update\n\n\n\nVANE Minerals Plc ('VANE' or the 'Company') announces an update on its on-going\nnorthern Arizona breccia pipe exploration activities conducted by VANE Minerals\n(US) LLC, its wholly-owned uranium subsidiary.\n\n\n\nHIGHLIGHTS\n\n\n\n - Mineralized pipe discovered at Miller Southwest with 200ft of\n continuous mineralization\n\n - All pipes contain uranium mineralization\n\n - All targets drilled warrant additional drilling\n\n - Additional pipe targets acquired taking total targets to 38\n\n\n\nDrill holes have been completed on three of the four known pipes that VANE holds\n- Miller, Big Red, and Red Dike. In addition, a hole has been completed on the\nnewly identified Miller Southwest target and has confirmed that the target is a\nmineralized breccia pipe.\n\n\n\nMatthew Idiens, Director of Corporate Development commented 'These initial\nresults are encouraging and show the targets all warrant additional drilling;\nnew down-hole geophysics techniques on these drilled holes should assist in\npositioning the next drill holes. Having tested 5 targets and with 4 of them\nshowing such encouraging results we believe the total pipe package, which now\nstands at 38 targets, offers substantial potential'.\n\n\n\nMiller Southwest\n\nThe first hole completed on the project, hole 691-3 was completed to 1520 feet\nand discovered a new breccia pipe. The hole encountered 200 feet of continuous\nmineralization from 1230-1430 feet in the targeted ore horizon of the Hermit and\nSupai Formations. Within this interval an intercept averaging 0.10% eU3O8 over\n16.5 feet was intersected that contained a high of 0.33% eU3O8.\n\n\n\nRed Dike\n\nTwo holes have been completed, 698-1 and 698-2, both of which are mineralized,\neven though both holes did not appear to be in the pipe through the entire\nHermit-Supai horizon. The gamma log in hole 698-1 reveals above background gamma\nlevels from 495 to 595 feet and 965 to 1095 feet (which is above the favorable\nhorizon), and also shows anomalous radioactivity in the bottom 300 feet of the\nhole which appeared to be outside the pipe. In addition, the log showed 5 feet\nof uranium mineralization at the Coconino-Hermit contact with grade up to 0.05%\neU3O8. In hole 698-2, one...