Rose Petroleum plc



Vane to be Mexican Gold Producer

/images/westhouse logo.jpg Completion of Vane Minerals? first and second round drilling programmes in Mexico has had mixed results. Widely spaced reconnaissance drilling at Guadalcazar only yielded anomalous grades but Minay Charay produced some promising intersections, including 2.2m at 19.5g/t Au and 172.7g/t Ag, and 3m grading 20.3g/t Au and 70.4g/t Ag. These results will be followed up by more drilling this summer. Vane expects small scale production to begin soon at its Diablito project, by utilising local artisanal mining methods. The Company anticipates producing around 6-7000oz/a Au and 700-800,000oz/a Ag, which will provide a pre-tax monthly income of US$250,000, providing some nice cashflow to help fund exploration.