Vane Minerals PLC
18 July 2005
VANE Minerals Plc
(VML.L)
Mina Charay Drilling Update
VANE Minerals Plc is pleased to announce the completion of nine holes in a third
round of diamond drilling at their Mina Charay Project located near Los Mochis
in the state of Sinaloa, Mexico.
A total of 27 holes varying in depth from 24 to 103 metres and averaging 58
metres have now been completed at Mina Charay. Inclined holes intersected the
nearly vertical vein system in 19 of the 27 holes completed to provide 32
mineralized intercepts. Drilling has now tested the system over a strike length
of some 240 metres. The mineralized intercepts averaged 1.7 metres in length and
contained an average of 13 g/t gold and 93 g/t silver. The veins are believed to
have an average true width of 1.2 metres. The deepest intercepts of the vein
system are approximately 50 metres below surface; the system remains open at
depth.
The initial assay results are tabulated below, routine check assaying is now in
progress. After confirmation of analytical results, the data will be provided to
Independent Mining Consultants (IMC) of Tucson to develop a resource estimate
and preliminary mine plan.
Gold Silver
DDH No. From To Interval g/t g/t
m
16 46.2 47.0 0.8 2.91 192.0
16 47.0 48.0 1.0 23.28 157.7
16 48.0 48.9 0.9 5.55 360.0
17 54.7 55.5 0.8 20.770 219.4
17 55.5 56.3 0.8 9.560 467.9
18 58.5 59.5 1.0 11.42 42.9
18 59.5 61.0 1.5 62.87 37.7
18 69.7 70.8 1.1 19.5 109.7
18 70.8 71.5 0.8 11.14 30.9
20 42.0 43.0 1.0 3.36 168.0
20 67.4 68.3 0.8 1.95 42.9
20 68.3 69.1 0.8 0.55 133.7
20 71.3 72.5 1.2 78.71 524.5
21 22.3 23.0 0.7 11.79 238.2
21 26.6 27.9 1.3 6.72 114.8
21 50.1 50.5 0.4 109.04 216
21 50.9 51.6 0.7 0.21 22.3
22 33.3 34.7 1.4 45.32 54.8
22 36.1 38.0 1.9 2.26 32.6
22 45.0 45.7 0.7 0.79 22.3
23 12.7 13.7 1.0 17.40 41.1
23 13.7 14.7 1.0 15.91 104.5
24 24.8 25.9 1.1 5.140 51.4
25 59.5 60.2 0.7 7.37 44.6
25 60.2 61.0 0.8 74.25 106.3
Chairman Michael Spriggs commented 'These results are very encouraging and we
are pleased with the whole project so far. As you can see from the grades
achieved, Mina Charay offers good potential to develop a profitable mine, which
should strengthen VANE's cash flow position and enable the company to expand
rapidly.'
Enquiries:
VANE Minerals plc Seymour Pierce Limited Parkgreen Communications
Matthew Idiens Sarah Wharry Justine Howarth / Cathy Malins
020 7667 6322 020 7107 8000 020 7493 3713
This information is provided by RNS
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