VICTORIA, BC / ACCESSWIRE / May 13, 2019 / Erin Ventures Inc. [TSXV: EV] announces that it has finalized its planning for the 2019-2020 work program on its 100% owned Piskanja Boron Project in Serbia. The completion of this work program will continue to advance the fundamentals of the Piskanja Project towards feasibility, as well as ensure that Erin is compliant with its obligations in order to keep its exploration license in good standing and extend it into the next license period. This program must be completed and submitted for license renewal prior to its expiration in September of 2020. It is anticipated that the drilling required by this program will be completed in approximately a 60-day period, once commenced.
Piskanja is Erin's wholly owned high-grade boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31 per cent B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6 per cent B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards).
The planned work for this program includes: diamond drilling of 5 HQ diameter horizontal holes (1,620 m total) on an existing 100 by 100 meter drill grid; 4 SQ diameter horizontal diamond drill holes (1,120 m total) on a 25 by 25 meter grid to be dual-purposed as a metallurgical testing bulk sample, and to increase the tonnage in the "measured" category; 2 PQ diameter structural drill holes (730 m total) on a grid of 50 by 50 meters, and; 1 SQ diameter drill hole (350 m) on the 100 by 100 meter grid, designed to be multi-purposed as a hydrogeological monitoring station and as an exploration hole. Additionally, a small-scale metallurgical study (150 kg sample); a continuing hydrogeological study; and a mineralogy/petrology/sedimentology study (part 3) will be conducted in tandem with the drilling.
Subject to the availability of funds and adequate time in this exploration period, Erin is planning additional works on Piskanja designed to take the project through to feasibility, in preparation for a mining license application.
This work program is designed to ensure that the project continues to comply with both the Canadian Institute of Mining "Best Practice Guidelines" and Serbian mine licensing and mine development regulations.
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. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV" and the OTCQB Venture Market under the symbol "ERVFF". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.
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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.
SOURCE: Erin Ventures Inc.