Exploration Program Deemed A Success As Erin Prepares For A Mining License
Erin Ventures Inc. [TSX-V: EV] has received assay results for the final five exploration drill holes from its Piskanja boron project in Serbia (hole #127A, and holes #133 to 136), with the results meeting expectations. These assays mark the conclusion of the exploration phase at Piskanja.
Management is very pleased with the outcome of the exploration program. As a result, preparation of a Geological Elaborate (which forms the basis of a mining license application) is nearing completion, in advance of the mine development phase.
Holes EVP2012-127A and 133 to 136 are in-fill holes designed to help establish a compliant resource estimate, sufficient to qualify for a Serbian mining license. Hole 127A returned a total of 2.5 metres of high-grade borates from two zones, including 1 metre of 44.7% B2O3. Hole #133 was outside the known footprint of the Piskanja deposit and, predictably, did not return significant mineralization, with assays returning a high of 5.0% B2O3. Hole #134 intersected a total of 5.1 metres of borates, including a 3 metres zone of 31.2% B2O3. Hole #135 returned a total of 7.9 metres of high grade borates in two zones. The lower zone totaled 7.6 metres averaging 31.1% B2O3, including 2.0 metres of 49.6% B2O3. Hole 136 intersected 5 separate zones including 1.3 metres of 38.8% B2O3. A complete table of results is attached.
Erin’s exploration program
Erin has completed a diamond drill program of HQ and larger diameter vertical core drilling, consisting of in-fill drilling across the known mineralized area at Piskanja, on a 100 metre by 100 metre grid (with a tighter pattern drilled over a portion of the area). Engineering, hydrogeology, environmental and other studies have been conducted in tandem with the drill program, in the anticipation of a mining license application, and the transition into feasibility and mine development phases.
Erin is ensuring that the project is being developed to provide disclosure in compliance with internationally accepted NI 43-101 standards, as well as conforming to the requisite Serbian mining standards. By doing so, Erin’s mine development planning and implementation will conform to the highest standards expected by the Serbian authorities, the international community, and potential strategic partners.
Chemical analyses are conducted as follows:
- Results are stated as a percentage concentration
- All measurements are metric
- Chemical analysis was conducted by SGS Canada Inc. in Lakefield, Ontario with sample preparation being conducted by SGS’s facility in Serbia
- Analytical Methodology: standard chemical analysis using ICP mass spectrometer and X-ray Diffraction (Aqua Regia and KOH Fusion and/or Titration)
- 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
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’s shares are traded on the TSX Venture Exchange under the symbol EV. For detailed information please see Erin’s website at www.erinventures.com or the Company’s filed documents at www.sedar.com.
On behalf of the Board of Directors,
Blake Fallis, General Manager
The technical information in this release was prepared and approved by Marinko Toljic, PhD. Geol, a consultant to the company, who is a Qualified Person under National Instrument 43-101.
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
Erin’s Public Quotations:
TSX Venture: EV
SEC 12G3-2(B) #82-4432
Berlin Stock Exchange: EKV
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 release contains forward looking statements. The words “believe,” “expect,” “feel,” “plan,” “anticipate,” “project,” “could,” “should” and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.