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Erin Ventures Inc.

Exchange: TSXV Exchange | Dec 16, 2018, 6:04 PM EST

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Erin Ventures Announces Boron Project Summer Exploration Program




Erin Ventures Announces Boron Project Summer Exploration Program



Victoria, British Columbia (FSCwire) - Erin Ventures Inc. [TSXV: EV] announces its planned 2018 summer work program on its 100% owned Piskanja boron project in Serbia.

 

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”.

 

As previously announced on May 23 2018, Erin completed its spring work program consisting of 10 diamond drill holes (3,084 meters) on time and on budget, which was required in order to keep the Piskanja exploration license in good standing. Erin confirms that it has submitted the requisite reports to the Serbian Ministry of Mining and Energy in order to obtain an extension to the Piskanja exploration license, which it expects imminently.

 

While Erin awaits formal confirmation of its license extension, Serbian mining law prohibits the continuation of any exploration activity on the licensed area. As a result, Erin’s summer work program is limited to “desktop activities” until such time as the license extension approvals are formalized. These desktop studies will include: an environmental baseline study at Piskanja which will be prepared on Erin’s behalf by the Mining Institute of Belgrade; Phase 2 of an ongoing mineralogy/petrology/sedimentology study being conducted by a senior professor from the Faculty of Mining, University of Belgrade; and, geotech sampling and testing which will be conducted under the supervision of SRK Consulting (UK) Limited. All of these studies are required components of a feasibility study and the mine licencing process as Erin advances Piskanja towards a going concern operation.

 

This work program is designed to ensure that the project continues to comply with the Canadian Institute of Mining "Best Practice Guidelines", the Republic of Serbia Ministry of Mining and Energy mine development and licensing regulations, as well as with recommendations made by Erin’s geological consulting firm - SRK Exploration Services Ltd from Cardiff, Wales.

 

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:

Erin Ventures Inc.

Canada

Blake Fallis, General Manager

TSX Venture: EV

Phone: 1-250- 384-1999 or 1-888-289-3746

USA

www.erinventures.com

SEC 12G3-2(B) #82-4432

645 Fort Street, Suite 203

OTCBB: ERVFF

Victoria BC V8W1G2

Europe

Canada

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.







Source: Erin Ventures Inc. (TSX Venture:EV, OTC Bulletin Board:ERVFF)

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