Rose Petroleum plc

Drilling Commenced at the Granite Gap Porphyry Copper Project. New Mexico, USA.

13-May-2011

Drilling Commenced at the Granite Gap Porphyry Copper Project. New Mexico, USA.

Further to VANE's announcement on 27 April, VANE today announces commencement of the drilling programme at its Granite Gap copper project located in south western New Mexico, USA.

Highlights

  • Drilling underway at Granite Gap copper project
  • Initial programme to involve drilling four holes to target depth of 500 feet
  • Objective to test at least 6 of the developed targets by 2011 year end

Granite Gap is one of 23 porphyry copper targets identified by the VANE exploration team using a systematic approach combining a set of proven criteria, field work and historic exploration data as well as the team's knowledge both of the mines and geology of the southwest U.S. porphyry copper province. Targets developed in this way are typically "blind" or covered targets concealed beneath very recently deposited alluvial or volcanic material; consequently evaluation and testing depends entirely on drilling results.

The initial programme at Granite Gap will include four holes drilled to a target depth of 500 feet using a combination of air rotary and intermittent "spot" cores that facilitate examination of the rock in specimen form rather than drill cuttings that resemble coarse sand or fine gravel. Results from this initial drilling programme will be announced in due course.

Clark Arnold, Director of Geology, commented: "We are confident in our exploration approach and pleased that the programme is now gathering momentum. We plan to test at least six of the targets we have developed before the end of the current calendar year. With the experience and track record of the team and the data base we have compiled covering the southwest U.S. copper province that currently accounts for some 60% of total U.S. copper production. We are optimistic that we will be able to add another copper deposit to the established list of those already known in the southwest province."