20th Jan 2005 07:00
Vane Holdings PLC20 January 2005 VANE Minerals plc (formerly VANE Holdings plc) ("VANE Minerals" or "the Company") Freeport Agreement Extended to June 2006 VANE Minerals announces a further extension of its exclusive agreement withFreeport McMoRan Copper and Gold Company ("Freeport"). The agreement, originallysigned on 1 October 2002, has been extended by a further 12 months to 30th June2006. Under the terms of the agreement VANE Minerals, through its wholly ownedsubsidiary AVEN Associates LLC, has exclusive access to Freeport's globalexploration database, excluding Indonesia, containing more than 7,000 filesdating back to 1907. The Company's prospective Guadalcazar Property in San Luis Potosi, Mexico, wasdiscovered by reviewing this exploration database, and VANE Minerals expects tobegin a drilling programme on the property by mid-February when a drill rig isexpected to become available. To date, approximately 85% of the Freeport files have been preliminarilyexamined and several exciting potential prospects are now being pursued. Theopportunities arise where targets become viable by application of newmetallurgy, advances in geological concepts, changes in metal prices or othertechnological advances. Enquiries: VANE Minerals plc 020 7667 6322Matthew Idiens Seymour Pierce Limited 020 7107 8000Jeremy Porter / Sarah Wharry Parkgreen Communications 020 7493 3713Justine Howarth / Cathy Malins This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rosebank