Business
Utah Exploration Update
Utah Exploration Update.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n Vane Minerals PLC\n27 July 2007\n\n\n\n27 July 2007\n\n\n\n VANE Minerals Plc (AIM:VML)\n\n VANE Receives Drilling Permission and Provides a Uranium Exploration Update\n\n\nVANE Minerals Plc ('VANE' or 'the Company') announces an update on its uranium\nexploration activities conducted by VANE Minerals (US) LLC, its wholly-owned\nuranium subsidiary.\n\nThe Company has now received approval from government authorities, the Bureau of\nLand Management and the State of Utah, to commence drilling on its North Alice\nExtension project in Lisbon Valley, Utah. A drilling contract has been signed\nfor an additional rig and drilling is expected to commence next week.\n\nThe initial programme will consist of up to 25 rotary holes to test the extent\nof mineralisation discovered by Homestake Mining Company ('Homestake'), which\ndrilled a number of holes on trend northwest from the North Alice Mine to lead\nits development into that area, in the late 1970's and early 1980's. Homestake\nceased drilling and mining in the early 1980's due to the decline in the uranium\nmarket. VANE believes that this property area holds a significant resource and\nthe Company is attempting to obtain historic data collected by Homestake as an\naddition to its own drilling results, in order to ascertain a clearer resource\nestimate.\n\nThe Company has exclusive use of the drill rig being used for its ongoing\nbreccia pipe campaign. This assures availability and will allow the rig to be\nemployed for longer periods, which will expedite drilling progress on the pipes\nand will give the Company full control over drilling schedules.\n\nExploration drilling continues on the Company's breccia pipe properties in\nnorthern Arizona, where holes have recently been completed on the Red Dike pipe.\nAdditional drilling is also in progress on the Miller pipe. Uranium\nmineralisation has been encountered in all holes completed and the Company is\ncurrently interpreting these results, with conclusions expected in September.\n\nGeological mapping completed at the Eastern Star property has identified two\nadditional pipe targets. An additional pipe target has also been identified at\nMiller, which has now been permitted and joins the queue for drilling along with\nthe three Eastern Star targets.\n\nThe Company continues to work towards permitting its remaining properties for\ndr...