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(VML.L) Vane Minerals PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 01-03-10 | RNS |
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RNS Number : 8071H Vane Minerals PLC 01 March 2010 1st March-2010 VANE Minerals plc (AIM:VML) ("VANE" or the "Company") Announcement of maiden NI 43-101 resource statement at Wate Uranium Breccia Pipe, Arizona Highlights: The SRK resource estimation completed to update the VANE breccia pipe project NI 43-101 report dated October 2007, concluded the following on the Wate breccia pipe, Arizona:
VANE Minerals today announces that SRK Consulting (U.S.) Inc. ("SRK"), as part of the work to update VANE's NI 43-101 technical report on its Northern Arizona Uranium Breccia Pipe Exploration Project, has completed the resource estimation for the Wate breccia pipe in Arizona. The project is within the VANE-Uranium One Exploration U.S.A. Inc. joint venture (JV) in which the Company's wholly-owned subsidiary, VANE Minerals (US) LLC, holds a 50% interest. SRK determined an inferred resource of 695,000 pounds of eU3O8 contained in 43,000 tons with an average grade of 0.80% eU3O8 at a cutoff grade of 0.20% eU3O8 from the model for that portion of the mineralized pipe where drilling data are available, which represents roughly 60% of the original Rocky Mountain Energy ("RME") model. The resource model was developed from data from six drill holes logged by VANE and from limited data from six historic holes completed by the previous lessee, RME. The resource is contained in 4 zones of mineralization delineated in the portion of the pipe from 1200 feet in vertical depth to 1520 feet in depth, largely within and along the margins of a breccia pipe that has a diameter which varies from 110 ft to 160 ft. Some sub-horizontal character is present in at least one high-grade zone (160 ft across the pipe by ~40 ft vertical thickness). The interpretation and outlining of mineralization was conducted in cross-section, using Leapfrog software, by incorporating geological, structural and assay information to form 3-D wireframe shapes of mineralized domains. Interpolation of grade to populate the block model within domain wireframes was carried out using an inverse distance power method and a dynamic anisotropy search option using Datamine Studio 3 software. Interpolation and CIM compliant resource classification parameters were developed by SRK to NI 43-101 reporting standards. SRK further stated in the report; "It is reasonable to assume that the historically estimated conservative case resource of 70,250 tons @ 0.80% U3O8 for 1.124M lbs is likely there, if the remainder of the historical drillhole data were available to define the entire volume of mineralization". Rocky Mountain Energy completed its estimates in 1991 based on 17 drill holes historically referred to as "ore holes" with a cutoff grade of 0.15% U3O8. The weighted average grade from VANE's six drill holes used in constructing the model is 0.87% eU3O8 using a cutoff grade of 0.20% eU3O8. Allan V. Moran, Principal Geologist, and Frank Daviess, Associate Principal Resource Geologist, both with SRK Consulting (U.S.) Inc., are independent Qualified Persons as defined by NI 43-101, prepared the current resource estimate. Kristopher K. Hefton, Chief Operating Officer VANE Minerals (US) LLC, BSc Geology, who meets the criteria of a qualified person under the AIM Rules - Guidance for Mining, Oil and Gas Companies, has reviewed and approved the technical information contained within this announcement. Steve Van Nort, VANE's CEO commented: "The results of SRK's model construction, resource calculation and conclusions will allow VANE and our partner, Uranium One Exploration U.S.A. Inc., to advance the commercialization of the Wate deposit. The full NI 43-101 Report, which is now near completion and according to NI43-101 rules will be released within the next 45 days. The next step in the process is to update the pre-feasibility study completed by Rocky Mountain Energy (1991) and the State of Arizona (1998) and to finalize the mineral lease agreement with the State of Arizona. This process is scheduled to take up to12 months. Once the lease agreement is signed, development can begin which would include detailed drilling of the orebody from underground via a development shaft and the laying out of the mining operation. In conjunction with this development plan for the Wate orebody, work will continue to create a "pipeline of projects" from other joint venture targets, specifically Tank 4-1/2, Miller and also projects added to the JV in the recent Neutron Energy Inc. property package acquisition. The breccia pipe district is estimated by the USGS to contain in excess of 2 billion pounds of U3O8 with a gross value of US$90 billion at $45/lb U3O8. With the JV's portfolio of pipe targets now standing at around 160, a conveyor belt of project evaluations leading to production is planned and would result in a stable domestic fuel supply, even at current uranium prices, for the growing US nuclear power industry which currently imports 90% of its annual uranium requirements. The VANE shareholders are in a prime position to capitalize on this considerable resource".
For further information, please contact:
Matthew Idiens
John Prior /Richard Johnson Threadneedle Communications +44 (0) 20 7653 9850 Laurence Read/ Beth Harris This information is provided by RNS The company news service from the London Stock Exchange END
MSCEAFAXALXEEFF More |
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| 01-03-10 | AFX UK Focus |
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LONDON, March 1 (Reuters) - Vane Minerals PLC:
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 01-03-10 | RNS |
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RNS Number : 8071H Vane Minerals PLC 01 March 2010 1st March-2010 VANE Minerals plc (AIM:VML) ("VANE" or the "Company") Announcement of maiden NI 43-101 resource statement at Wate Uranium Breccia Pipe, Arizona Highlights: The SRK resource estimation completed to update the VANE breccia pipe project NI 43-101 report dated October 2007, concluded the following on the Wate breccia pipe, Arizona:
VANE Minerals today announces that SRK Consulting (U.S.) Inc. ("SRK"), as part of the work to update VANE's NI 43-101 technical report on its Northern Arizona Uranium Breccia Pipe Exploration Project, has completed the resource estimation for the Wate breccia pipe in Arizona. The project is within the VANE-Uranium One Exploration U.S.A. Inc. joint venture (JV) in which the Company's wholly-owned subsidiary, VANE Minerals (US) LLC, holds a 50% interest. SRK determined an inferred resource of 695,000 pounds of eU3O8 contained in 43,000 tons with an average grade of 0.80% eU3O8 at a cutoff grade of 0.20% eU3O8 from the model for that portion of the mineralized pipe where drilling data are available, which represents roughly 60% of the original Rocky Mountain Energy ("RME") model. The resource model was developed from data from six drill holes logged by VANE and from limited data from six historic holes completed by the previous lessee, RME. The resource is contained in 4 zones of mineralization delineated in the portion of the pipe from 1200 feet in vertical depth to 1520 feet in depth, largely within and along the margins of a breccia pipe that has a diameter which varies from 110 ft to 160 ft. Some sub-horizontal character is present in at least one high-grade zone (160 ft across the pipe by ~40 ft vertical thickness). The interpretation and outlining of mineralization was conducted in cross-section, using Leapfrog software, by incorporating geological, structural and assay information to form 3-D wireframe shapes of mineralized domains. Interpolation of grade to populate the block model within domain wireframes was carried out using an inverse distance power method and a dynamic anisotropy search option using Datamine Studio 3 software. Interpolation and CIM compliant resource classification parameters were developed by SRK to NI 43-101 reporting standards. SRK further stated in the report; "It is reasonable to assume that the historically estimated conservative case resource of 70,250 tons @ 0.80% U3O8 for 1.124M lbs is likely there, if the remainder of the historical drillhole data were available to define the entire volume of mineralization". Rocky Mountain Energy completed its estimates in 1991 based on 17 drill holes historically referred to as "ore holes" with a cutoff grade of 0.15% U3O8. The weighted average grade from VANE's six drill holes used in constructing the model is 0.87% eU3O8 using a cutoff grade of 0.20% eU3O8. Allan V. Moran, Principal Geologist, and Frank Daviess, Associate Principal Resource Geologist, both with SRK Consulting (U.S.) Inc., are independent Qualified Persons as defined by NI 43-101, prepared the current resource estimate. Kristopher K. Hefton, Chief Operating Officer VANE Minerals (US) LLC, BSc Geology, who meets the criteria of a qualified person under the AIM Rules - Guidance for Mining, Oil and Gas Companies, has reviewed and approved the technical information contained within this announcement. Steve Van Nort, VANE's CEO commented: "The results of SRK's model construction, resource calculation and conclusions will allow VANE and our partner, Uranium One Exploration U.S.A. Inc., to advance the commercialization of the Wate deposit. The full NI 43-101 Report, which is now near completion and according to NI43-101 rules will be released within the next 45 days. The next step in the process is to update the pre-feasibility study completed by Rocky Mountain Energy (1991) and the State of Arizona (1998) and to finalize the mineral lease agreement with the State of Arizona. This process is scheduled to take up to12 months. Once the lease agreement is signed, development can begin which would include detailed drilling of the orebody from underground via a development shaft and the laying out of the mining operation. In conjunction with this development plan for the Wate orebody, work will continue to create a "pipeline of projects" from other joint venture targets, specifically Tank 4-1/2, Miller and also projects added to the JV in the recent Neutron Energy Inc. property package acquisition. The breccia pipe district is estimated by the USGS to contain in excess of 2 billion pounds of U3O8 with a gross value of US$90 billion at $45/lb U3O8. With the JV's portfolio of pipe targets now standing at around 160, a conveyor belt of project evaluations leading to production is planned and would result in a stable domestic fuel supply, even at current uranium prices, for the growing US nuclear power industry which currently imports 90% of its annual uranium requirements. The VANE shareholders are in a prime position to capitalize on this considerable resource".
For further information, please contact:
Matthew Idiens
John Prior /Richard Johnson Threadneedle Communications +44 (0) 20 7653 9850 Laurence Read/ Beth Harris This information is provided by RNS The company news service from the London Stock Exchange END
MSCEAFAXALXEEFF More |
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| 27-01-10 | AFX UK Focus |
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LONDON, Jan 27 (Reuters) - Vane Minerals PLC:
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| Wed 10:41 | ||||
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In any case, there is scope for some expansion, as SRK concedes. SRK only worked on areas for which drilling data were available, specifically, from six holes that were drilled by VANE, and six that were drilled by former owners Rocky Mountain Energy.
But when Rocky Mountain worked up their own resource many years ago, they had more drilling data to work off than is now available – a total of 17 holes to be precise. SRK commented in its report on Wate that: “It is reasonable to assume that the historically estimated conservative case resource of 70,250 tons at 0.80% U3O8 for 1.124 million pounds is likely there, if the remainder of the historical drillhole data were available to define the entire volume of mineralization”. Nice to have upside, at any rate. The next step will now be to update the pre-feasibility study completed by Rocky Mountain Energy back in 1991, and to work up the assumptions used by officials from the state of Arizona when they assessed its viability back in 1998. Much water has passed under the bridge in the world of uranium, and the world of mining, since those days, but VANE’s London point-man Matt Idiens is fairly confident that the economics will be robust. Assuming they are, the next real hurdle is the issue of a mineral lease agreement by the state of Arizona. Once that’s granted, then development can begin. But be warned: it’s a process that can take up to 12 months. With work on the economics at Wate now moving ahead at some speed, VANE’s portfolio of 160 breccia pipe targets, held jointly with Uranium One, suddenly starts to look very attractive. The deal with Uranium One, in simple terms, is that VANE does the exploration, and Uranium One does the development and mining. Following the latest work on Wate, targets that now hove into view include the Tank 4-1/2 project, the Miller project, and also some targets on the licences that came into the company back in June 2009 when VANE acquired 16,100 acres, also in northern Arizona, from Neutron Energy Inc. According to the US Geological Survey, the breccia pipe district in northern Arizona as a whole contains in excess of two billion pounds of U3O8, which, using a US$45 per pound uranium price, would have a value of around US$90 billion. Perhaps more to the point as far as VANE is concerned, the thinking is that the region will one day be able to offer a consistency of supply to the US nuclear industry not on offer from very many other places. Currently the US nuclear industry imports around 90 per cent of its uranium requirement, and with president Obama fully in favour of an expansion of the US’s nuclear power capabilities, more supply will have to be found from somewhere. Northern Arizona is one prime candidate, and with a government that’s relatively in favour of uranium mining, has already made great strides in that direction. In recent weeks the uranium price has dipped somewhat. Longer-term, though, there are more bulls around than bears. Certainly inside VANE there are plenty of bulls. The market in London, though, has been fairly nonplussed lately, conferring on VANE a fairly undemanding market capitalisation some way short of £9 million. Given that all the corporate overheads are covered by cash flow from gold mines in Mexico, that might look somewhat niggardly. But VANE’s a long-term play, and with the uranium price hardly setting the world on fire at the moment, a sustained period of positive newsflow may be needed before the shares really get moving. The company's copper portfolio is just about to come alive, though, and that may be just what the markets need to waken them up. |
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hi sageii, thank you!! please try to post full article, this is really helpful and have way too many shares at moment :-)
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March 10, 2010 VANE Minerals Delivers A Maiden Resource On Its Wate Uranium Project In Arizona By Alastair Ford After a slightly extended wait, VANE Minerals has finally delivered a maiden 43-101 resource number on the Wate breccia pipe in Arizona, jointly owned with Uranium One. Work undertaken by SRK shows Wate to contain an inferred resource of 695,000 pounds of eU3O8, contained in 43,000 tonnes of rock at an average grade of 0.8% eU3O8, using a 0.2% cut-off grade. It’s not a bad result for a first pass. The idea of mining breccia pipes such as Wate is to mine short and sweet, at highly profitable margin. So huge tonnage was never the aim, or at least not from a single pipe. VANE’s got plenty more breccias pipes in development, but more on that in a minute. The point in the immediate term was to show Wate as a viable proposition, and, thus far, that’s been achieved. " Alistair ford article who has been bullish on vane for some time.
http://www.minesite.com/nc/minews/singlenews/article/vane-minerals-delivers-a-maiden-resource-on-its-wate-uranium-project-in-arizona/1.html Would post the whole article but have forgotten password......if someone else can oblige? |
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| 08-03-10 | ||||
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I agree. I believe the Chinesse are investing in this area. Don't quote me on this by the way - just pullled from my sloppy memory. Probably best to get back on topic now.
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