Business
Uranium Update
Uranium Update.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n RNS Number : 5850M Vane Minerals PLC 02 February 2009 \n \n\n 2nd February 2009\nVANE Minerals Plc ('VANE' or the 'Company')\nHigh Grade Uranium Intercepts and New Results, Arizona and Utah\nVANE Minerals Plc today announces new exploration results from its uranium projects located in Arizona and Utah. The projects are held by the Company's wholly-owned subsidiary, VANE Minerals (US) LLC.\n\nHighlights \n\n\nHigh-grade intercepts at the Wate breccia pipe in northern Arizona\n\n\n30.5 feet of 1.87% eU308, including 12 feet of 3.67% eU308 \n\n\nHistoric data indicate a resource of 1.9mm lbs of U3O8 in rock grading 0.83% U3O8 \n\n\n\n\nDrilling at the Tank 4½ Pipe in northern Arizona intersects mineralization\n\n\nBest mineralized zones: 1305.0 to 1311.0 feet and 1683.5 to 1691.5 feet that contained 6.0 feet of 0.07% eU308 and 8.0 feet of 0.07% eU308, respectively.\n\n\n\n\nPositive results from the Happy Jack drilling program in Utah \n\n\n7 holes reached resource grade and verified mineralization indicated in historic data \n\n\n\n\n\n \nNORTHERN ARIZONA BRECCIA PIPE DISTRICT \nVANE Minerals (US) LLC - Uranium One Exploration U.S.A. Inc. Joint Venture\n\nWate Pipe\nVANE's logging results from two holes drilled by the previous owner (Rocky Mountain Energy) confirm historic data made available to VANE. Included in the historic data is a report completed by an outside consulting firm, Headquarters West ltd, in 1998 based on data generated by Rocky Mountain Energy which states a 'base reserve' of 1.9mm lbs of U3O8 in ore grading 0.83% U3O8. \nThe purpose of VANE's program is to verify the historic data and take the 'base reserve' to an NI 43-101 compliant resource. Additional data are being sourced; however, washing out additional holes and drilling new holes may be required by our independent consultants, SRK Consulting (Tucson). \nSeveral old drill holes were found during VANE's initial assessment of the property. VANE washed out three of these holes which were then logged by two independent contr...