Rose Petroleum plc

AFX News

30-January-2007

VANE Minerals says drilling starts at Northern Arizona Breccia pipe

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LONDON (AFX) - VANE Minerals PLC said its uranium subsidiary VANE Minerals (US) LLC started drilling at the Miller Pipe in Breccia Pipe District in Northern Arizona.

The previous owners had identified grades as high as 1.78 pct in drill holes at the pipe, and the company said at least three holes will be drilled to a depth of around 1,700 feet to further explore and develop the mineralised area identified in 1986 by Energy Fuels Nuclear.

VANE said that once the Miller Pipe drilling is complete, it will focus on the other three permitted pipe targets - Big Red, Red Dike and Rabbit, and the company intends to ramp up drilling once further pending permits are approved.

The company said it has acquired, and presently controls, a 100 pct interest in 29 pipe targets in northern Arizona.