Results include 50.25 meters averaging 21.93% B2O3, including 29.10 meters of 35.24% B2O3
Erin Ventures Inc. [TSXV: EV] has received assay results for final two drill holes (Hole # EV144 and EV145) from its 2015 in-fill drill program on Erin’s wholly owned Piskanja boron project in Serbia, with the results meeting management’s expectations. Piskanja is a high-grade boron deposit with a NI 43-101 compliant mineral resource of 5.6 million indicated tonnes (averaging 30.8% B2O3), and 6.2 million inferred tonnes (averaging 28.8% B2O3).
Assays for these final two holes were delayed as the result of a sample sequencing error made by the testing laboratory (SGS Turkey) which necessitated the retesting of a certain number of samples in order to insure complete accuracy.
Highlights of drill holes EV144 and EV145 :
Hole EV144 is located in northern section of the 50×50 meter in-fill drill grid. This hole intersected a total of 27.25 meters of mineralization averaging 16.59% B2O3 from within 3 borate bodies, including an interval of 11.25 meters averaging 37.89% B2O3.
Hole EV145 is located in southern section of the 50×50 meter in-fill drill grid. This hole intersected the largest number of borate layers, as well as the greatest total number of meters of boron mineralization intersected in any single hole during the 2015 in-fill drill program. 4 new mineralization zones were intersected along with 5 previously recorded borates layers. Total length of mineralization in hole EV145 is 50.25 meters averaging 21.93% B2O3, including 29.10 meters of 35.24% B2O3. The shallowest mineralized interval in this hole started at a depth of only 58.7 meters, with the deepest borate interval ending at a depth of 285.60 meters.
Chemical analyses were conducted as follows:
- Results are stated as a percentage concentration
- All measurements are metric
- Chemical analysis was conducted by SGS Turkey, located in Ankara, Turkey with sample preparation being conducted by SGS s facility in Serbia
- Analytical Methodology:
- ICP90A (by Sodium peroxide fusion) – for determination of Boron (present in B%) and package of multi-element analysis (Al, As, B, Be, Ca, Cd, Co, Cr, Cu, Fe, K, La, Li, Mg, Mn, Mo, Ni, P, Pb, Sb, Sc, Sn, Ti, V, W, Y, Zn)
- ICP95A -Whole rock analysis (by Lithium metaborate Fusion / ICP-AES) for determinations: Al2O3, Ba, CaO, Cr2O3, Fe2O3, K2O, MgO, MnO, Na2O, Ni, P2O5, SiO2, Sr, TiO2, Y, Zr
- CSA06V – total Sulphur, Leco method
- PHY01K – for determination of L.O.I (Loss on Ignition) at approx. 950°C by Gravimetric Analysis
- Location: Piskanja Project, Baljevac, Serbia
- Sample type: HQ size diamond core drilling
- Azimuth/dip: vertical hole, 90 degree dip
- Sample interval is 0.5 metres
Erin s Piskanja in-fill drill program
Erin has recently completed an eleven hole diamond drill program of HQ and larger diameter vertical core drilling, consisting of in-fill drilling on a 50 meter by 50 meter grid over the central part of the Piskanja deposit. This program is designed to raise the confidence level of the mineral resource to “measured”. This is a key component in advancing the Piskanja project towards Feasibility.
The ongoing work program at Piskanja and Jarandol is designed to ensure that the project complies with both the Canadian Institute of Mining “Best Practice Guidelines” and Serbian mine licensing and mine development regulations, as well as complying with recommendations made by Erin’s geological consulting firm – SRK Exploration Services Ltd.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures Inc.
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin shares are traded on the TSX Venture Exchange under the symbol “EV”. For detailed information please see the Erin website at www.erinventures.com or the Company filed documents at www.sedar.com.
About Boron (Source: Critical Raw Materials Alliance, Sept. 2015)
- Boron, the semi-metallic element with atomic number 5, does not occur in nature as free element. It occurs in the form of a natural mineral associated with other elements such as Na, Ca, and Mg.
- Among over 200 naturally occurring boron minerals, the most commercially important borates are: Tincal, Colemanite and Ulexite.
- About 80% of borates placed on the EU market are used in intermediate uses such as in the manufacture of glass & frits and/or for the synthesis of new substances, and in biocidal applications.
- The remaining one-fifth is used in agriculture (13-14%), in articles (4-5%) and in other uses (2-3%) such as coatings, industrial fluids and/or metallurgical applications.
- In addition, boron is an essential micronutrient for normal, productive plant growth and is one of seven essential micronutrients for plants.
- Furthermore, for safety reasons, the use of borates is essential in nuclear power plants.
- Borates prices decreased between 2008-2009 due to the global economic crisis. After 2010 market conditions stabilised again. See borate pricing historical graph (Link opens new window. Click [X] to close.)
For further information, please contact:
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746 USA
645 Fort Street, Suite 203
Victoria, BC V8W 1G2
Erin Public Quotations:
TSX Venture: EV
SEC 12G3-2(B) #82-4432
Berlin Stock Exchange: EKV
The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., a director of the company, who is a Qualified Person under National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
This press release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding the timing of future mineral resource estimates and the PEA, estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on current expectations that involve a number of business risks and uncertainties. The words “believe,” “expect,” “feel,” “plan,” “anticipate,” “project,” “could,” “should” and other similar expressions generally identify forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, as well as those factors discussed in the section entitled “Risks of the Business” in the Company s most recent regulatory filings which are posted on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities law. These and other factors made in public disclosures and filings by the Company should be considered carefully.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. “Inferred Resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.