The company currently has two copper targets fully permitted for exploration drilling and the target portfolio currently includes 23 targets in various stages of evaluation and acquisition.
Road access and drill sites are under construction with the drilling contractor anticipated to commence drilling in the next few weeks.
The Granite Gap target is situated along the productive NE-SW mineral trend that extends from Hillsboro to Bisbee, and includes major mines at Chino, Continental, Tyrone and Banner, combined representing more than 22.5 billion lbs of copper.
The target is located beneath alluvial cover adjacent to outcrops that exhibit alteration and mineralization typically associated with the margins of porphyry copper systems.
Field work commissioned by VANE has identified water wells located several miles down slope from the outcropping lead-zinc mineralization that carry anomalous values of copper and molybdenum.
Water in the wells is believed to have migrated from the target area, and the drilling depth is anticipated to be in the region of 300-500ft.
Drilling commenced last month on the first of two holes planned at the Yuma King copper project, and hole AV-1-11 intersected disseminated copper mineralization.
Site preparation, ahead of drilling, is underway at Granite Gap and drilling is scheduled to commence during the next few weeks.
Permitting is also presently under way on two additional copper targets and further additional targets are being developed and refined to create a pipeline of drill ready projects.
