Erin Ventures Announces Additional Boron Project Assay Results
Victoria, British Columbia (FSCwire) - Erin Ventures Inc. [TSXV: EV] has received assay results for the second set of three drill holes from this season’s exploration program on its 100% owned Piskanja boron project in Serbia, with the results meeting management’s expectations.
Piskanja is Erin’s wholly-owned high-grade boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31 percent B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6 percent B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in Erin’s filed report titled, “Mineral Resource Estimate Update On The Piskanja Borate Project, Serbia, October 2016”.
Highlights of drill holes EV152, EV153 and EV154
Holes 152, 153 and 154 are located on an existing 50x50 meter in-fill drill grid (located in the central part of the Piskanja deposit). The results from these three holes continue to confirm the existence of massive borate mineralization and the continuity of several known mineral beds, as these results correlate very well with those from previously drilled adjacent holes (on a 100x100 m, or a 50x50 m grid).
Hole EV152 intersected a total of 35.9 meters of mineralization averaging 30.6% B2O3, from within five known borate layers and one new mineralized interval, including an intersection of 21.0 meters averaging 25.1% B2O3, and another of 14.5 meters of 33.5% B2O3, and results as high as 48.5% B2O3 over 1.7 meters.
Hole EV153 intersected five borate layers totaling 30.5 meters of 27.4% B2O3, including 17.2 meters averaging 22.8% B2O3, and results as high as 47.3% B2O3 over 1.1 meters.
Hole EV154 intersected 5 known borate layers for a total of 17.6 meters of mineralization averaging 33.7% B2O3, including an intersection of 8.8 meters averaging 35.4% B2O3, and another of 7.4 meters of 39.7% B2O3, and results as high as 49.6% B2O3 over 1.3 meters.
Assay Results:
| HOLE | Borate bodies / | Interval (m) | Thickness | Weighted average | ||
| From | To | |||||
| EVP-2018-152 | OB-4 | total | 139.5 | 141.7 | 2.2 | 35.4 |
| including | 140.3 | 141.7 | 1.4 | 45.4 | ||
| New OB | total | 150.2 | 152.2 | 2.0 | 47.0 | |
| OB-3 | total 1 | 164.5 | 178.9 | 14.5 | 33.5 | |
| total 2 | 164.5 | 176.5 | 12.0 | 37.5 | ||
| including | 165.3 | 175.1 | 9.8 | 42.3 | ||
| max | 165.3 | 167.0 | 1.7 | 48.5 | ||
| OB-6 | total | 184.3 | 185.5 | 1.2 | 23.5 | |
| including | 184.3 | 185.1 | 0.8 | 34.1 | ||
| Combined zone | total | 164.5 | 185.5 | 21.0 | 25.1 | |
| OB-2 | total | 215.1 | 219.5 | 4.4 | 37.1 | |
| including | 216.5 | 219.5 | 3.1 | 42.1 | ||
| max | 216.5 | 218.2 | 1.7 | 45.0 | ||
| OB-1 | total | 290.6 | 296.9 | 6.3 | 37.3 | |
| including | 291.4 | 296.9 | 5.4 | 39.9 | ||
| max upper part | 292.1 | 293.3 | 1.2 | 45.4 | ||
| max lower part | 294.2 | 296.9 | 2.7 | 42.4 | ||
| Total mineralization in the hole: | 35.9 | 30.6 | ||||
| Included: | 25.1 | 39.1 | ||||
| HOLE | Borate bodies / | Interval (m) | Thickness | Weighted average | ||
| From | To | |||||
| EVP-2018-153 | OB-4 | total | 141.1 | 143.4 | 2.3 | 31.1 |
| including | 141.6 | 143.4 | 1.8 | 35.1 | ||
| OB-3 | total | 170.1 | 177.7 | 7.6 | 41.4 | |
| including | 175.2 | 177.7 | 2.5 | 43.6 | ||
| OB-6 | total | 186.3 | 187.3 | 0.9 | 32.8 | |
| Combined zone | total | 170.1 | 187.3 | 17.2 | 22.8 | |
| OB-2 | total | 218.4 | 222.9 | 4.6 | 37.4 | |
| including | 218.9 | 222.9 | 4.1 | 40.2 | ||
| max | 219.6 | 220.6 | 1.0 | 43.1 | ||
| OB-1 | total | 294.5 | 300.8 | 6.3 | 31.3 | |
| including | 294.5 | 299.9 | 5.4 | 35.5 | ||
| max upper part | 294.5 | 296.4 | 1.9 | 40.2 | ||
| max lower part | 296.9 | 299.0 | 2.1 | 43.3 | ||
| max interval | 297.9 | 299.0 | 1.1 | 47.3 | ||
| Total mineralization in the hole: | 30.5 | 27.4 | ||||
| Included: | 19.8 | 38.6 | ||||
| HOLE | Borate bodies / | Interval (m) | Thickness | Weighted average | ||
| From | To | |||||
| EVP-2018-154 | OB-4 | total | 97.4 | 100.2 | 2.8 | 0.2 |
| OB-3 | total 1 | 110.0 | 118.7 | 8.8 | 35.4 | |
| total 2 | 110.0 | 117.4 | 7.4 | 39.7 | ||
| including | 110.0 | 116.7 | 6.8 | 40.8 | ||
| max upper part | 110.0 | 112.4 | 2.5 | 44.8 | ||
| max lower part | 114.6 | 116.7 | 2.1 | 43.7 | ||
| New OB/ OB-6 | total | 134.7 | 135.9 | 1.1 | 12.7 | |
| OB-2 | total | 160.1 | 162.6 | 2.5 | 34.7 | |
| OB-1 | total | 230.4 | 235.6 | 5.1 | 35.0 | |
| including | 230.4 | 233.7 | 3.3 | 42.2 | ||
| max | 230.4 | 231.7 | 1.3 | 49.6 | ||
| Total mineralization in the hole: | 17.6 | 33.7 | ||||
| Included: | 14.4 | 37.2 | ||||
Chemical analyses were conducted as follows:
- Results are stated as a percentage concentration
- All measurements are metric
- Chemical analysis is conducted by SGS Turkey - an accredited laboratory located in Ankara, Turkey, with sample preparation conducted by SGS's facility in Bor, Serbia
- Control samples are sent to an umpire lab - Bureau Veritas Minerals Lab in Perth, Australia
- Analytical Methodology:
1. ICP90Q (by Sodium peroxide fusion) - for determination of high grade Boron (presented in B%)
2. ICP90A (by Sodium peroxide fusion) for multi-element analysis and low-grade Boron (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)
3. ICP95A -Whole rock analysis (by Lithium metaborate Fusion / ICP-AES) for determinations: Al2O3, Ba, CaO, Cr2O3, Fe2O3, K2O, MgO, MnO, Na2O, P2O5, SiO2, Sr, TiO2, Zr
4. CSA06V - total Sulphur, Leco method
5. 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, with drilling conducted by Geomag d.o.o. of Belgrade, Serbia
- Azimuth/dip: vertical hole, 90 degree dip
- Sample interval is 0.5 metres
This work program was designed to ensure that the project continues to comply with both the Canadian Institute of Mining "Best Practice Guidelines", and the Republic of Serbia Ministry of Mining and Energy mine development and licensing 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'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.
| For further information, please contact: | Erin’s Public Quotations | |
| Canada | USA | |
| Blake Fallis, General Manager | TSX Venture: EV | SEC12G3-2(B)#82-4432 |
| Phone: 1-250-384-1999 or 1-888-289-3746 | OTCBB:ERVFF | |
| info@erinventures.com | Europe | |
| www.erinventures.com | Berlin: 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.
To view the original release, please click here
Source: Erin Ventures Inc. (TSX Venture:EV, OTC Bulletin Board:ERVFF)
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